MALAYSIA has filed criminal charges for money laundering against wanted businessman Low Taek Jho as well as his father, Low Hock Peng, over money allegedly stolen from 1Malaysia Development Bhd, The Edge reports today.
The charges “in absentia” were filed by the Commercial Crime Investigation Department and Attorney-General’s Chambers with the Sessions Court in Putrajaya this morning, sources told the paper.
Warrants of arrest for both men had also been issued.
Jho Low is facing a string of charges while Hock Peng faces one charge of transferring US$56 million (RM230 million) to his son.
Court documents sighted by The Edge listed eight charges under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act, 2001.
Three were for receiving money to the tune of around US$261 million and five more charges were related to the transfer of US$196 million.
The transactions were said to be done through separate accounts at BSI Bank in Singapore between December 2013 and June 2014.
The Edge, citing the documents, said most of the cash was used to purchase the US$250 million superyacht Equanimity, which Malaysia has taken possession of from Indonesia where it was first seized.
The three charges related to receiving funds from unlawful activity involved Low’s account 6C02328A at BSI Singapore.
This account received three tranches on the following dates from different entities:
* On or about December 26, 2013, US$62.299 million from the account of DLA Piper US LLP in Citibank NA;
* On or about February 4, 2014, US$56.449 from the account of Low Hock Peng at BSI Singapore; and,
* On or about June 3, 2014, US$142 million from Alpha Synergy Ltd in BSI Lugano Switzerland.
Another Low account at BSI Singapore, 6C02328B, was used to transfer funds on these dates and all to the same entity, World View Ltd, Cayman Islands at an account in Caledonian Bank Ltd:
* On or about January 7, 2014, €19.9 million transferred;
* On or about February 5, 2014, €1 million transferred;
* On or about February 18, 2014, €17.5 million transferred;
* On or about April 2, 2014, €2.7 million transferred; and,
* On or about June 3, 2014, US$140,636 transferred.
This marks the first time charges have been filed against 38-year-old Low, a close associate of former prime minister Najib Razak and the supposed mastermind behind 1MDB’s scandals, which are being investigated in several countries.
Low had been named in court filings by the US Department of Justice in its efforts to seize billions of dollars worth of assets bought with stolen 1MDB funds, one of them being the super yacht Equanimity, which Malaysia now has in its possession.
Sources told The Edge the charges filed would enable the next step, which was to extradite Low, believed to be in either China or Abu Dhabi. Both Jho Low and Hock Peng must appear in court and have their pleas recorded for a trial to proceed. – August 24, 2018.
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