Jho Low trusts ask to file late claims in forfeiture lawsuits

LOS ANGELES: Trusts that hold hundreds of millions of dollars in assets the US claims Malaysian financier Low Taek Jho acquired with money siphoned out of a state investment fund are asking a judge to let them file late claims in the Justice Department’s forfeiture lawsuits.

The trusts filed their requests on late Monday in federal court in Los Angeles where the Justice Department filed more than a dozen cases to recover more than a US$1bil in real estate and other assets the government claims were bought by Low, known as Jho Low, and his accomplices with money stolen from 1Malaysia Development Bhd.