Jho Low’s Relatives Fight U.S. Forfeiture of 1MDB-Linked Assets
- Investigators are probing money diverted from Malaysian fund
- Financier’s father, brother say Swiss trustees won’t help them
The Park Lane Hotel in New York.
Photographer: Stephen Lovekin/Getty Images for NYCWFFThis article is for subscribers only.
Relatives of the financier accused by U.S. prosecutors of playing a central role in siphoning more than $3.5 billion from Malaysia’s state investment fund are fighting attempts to seize assets acquired with misappropriated funds.
Four family members of Low Taek Jho, also known as Jho Low, have initiated claims for properties the U.S. said he bought with money from the 1MDB fund, including a $100-million interest in EMI Music Publishing Group, a $35 million Bombardier jet, and a $200-million stake in the Park Lane Hotel in New York.