Jho Low happy with latest DoJ deal on return of jewellery

Fugitive businessman Low Taek Jho. (Facebook pic)

PETALING JAYA: Runaway businessman Low Taek Jho has welcomed the US authorities’ latest deal to recover assets linked to money embezzled from 1MDB, following a court filing on the return of jewellery worth some US$1.7 million.

“Mr Low is pleased to learn that the US Department of Justice and all the relevant parties are working to amicably resolve these matters, and that the DoJ has acknowledged that ‘the transfer… shall not be construed as an admission of wrongdoing or liability on the part of the current custodian or any other party’,” said a statement issued through his agent.

“We look forward to the continuing resolution of these issues,” it added.

Malaysiakini today quoted a court filing by DoJ as saying that it has reached an agreement with an unnamed custodian of the jewellery – a pair of diamond earrings and a matching diamond ring.

“Once the government is in possession, custody, or control of the defendant’s assets pursuant to Supplemental Rule G of the Supplemental Rules for Admiralty or Maritime Claims and Asset Forfeiture Actions, the government will move forward towards default of the defendant’s assets,” the portal quoted from court documents filed on May 1.

It was previously reported that Low’s mother Evelyn Goh was given the jewellery.

DoJ, which has named Low, better known as Jho Low, for embezzling billions of dollars from 1MDB, said he had used the money to buy diamonds worth US$1.7 million from jeweller Lorraine Schwartz Inc.