PETALING JAYA: A mansion in Hollywood Hills, Los Angeles, owned by fugitive businessman Jho Low, has been sold for US$18.5 million (RM81.3 million), or just over half the price he paid to buy the showpiece house.
Low paid US$38.98 million (RM171 million) for the mansion, “redefining what a home could sell for in the celebrity-filled neighbourhood”, according to the Los Angeles Times newspaper.
The house was seized by the US Justice Department under anti-money laundering laws. Low was alleged to have bought the house with money embezzled from 1Malaysia Development Berhad.
The house was sold after being listed for a year, under a consent agreement reached between the US federal authorities and Low. The listed sale price was US$24.5 million (RM107 million).
Low came into prominence in the US after he was pictured at champagne parties with celebrity Paris Hilton, and as the backer of the Martin Scorsese film The Wolf of Wall Street.
The house was originally owned by Mexican actor Ricardo Montalbán, who commissioned the building in 1986.
It sits on a plot of land of more than an acre (0.4 hectare) in size. Besides the house, there is a four-car glass garage, a guesthouse, spa complex and swimming pool, the LA Times reported.
“Statues dot the landscape around the estate, leading into expansive interiors with modern fixtures and striking views. A skylighted foyer accesses the living spaces, which include a chandelier-topped dining room and a living room with a built-in fireplace and a two-story wall of windows,” it said.
However, the LA Times also said the mansion is in need of a full restoration.