PETALING JAYA: The bank account of businessman Low Taek Jho, also known as Jho Low, has come under scrutiny amid the ongoing investigation into 1Malaysia Development Berhad (1MDB) funds.
The Wall Street Journal (WSJ) reported on Thursday that Singaporean police and Bank Negara were looking into US$529mil (RM2bil) said to have been deposited between 2011 and 2013 into a business bank account in Singapore controlled by Low.
The international business daily said that it received a copy of the information about the deposits and Low's ownership of the account in a letter dated March 13 this year from Singapore police to Bank Negara.
Citing the letter, it said Malaysia had asked Singapore for help in its investigation into 1MDB.
The letter also stated that the police’s Suspicious Transaction Reporting Office gave details of deposits from the Swiss bank account of a company called Good Star Ltd.
However, there was no indication in the letter of where Good Star got the funds or what had happened to the money. The letter said the business account was shut in February last year.
“If proceeds of crime have been transferred to Singapore, we would like to consider whether an offence has been committed in Singapore,” Suspicious Transaction Reporting Office head Chua Jia was quoted as saying in the letter to Bank Negara.
Low’s alleged Singapore account was at a Swiss bank called BSI SA.
"Malaysia’s government, which wholly owns 1MDB, said earlier this year that the fund was holding US$1.1bil (RM4bil) in a BSI account in Singapore. It is not clear whether there is a connection between the two accounts," reported WSJ.
Low had earlier denied wrongdoing, saying that he never had a formal position at 1MDB, characterising his role as an “occasional” adviser.
When The Star contacted Singapore police, they declined to comment on the WSJ report which stated that the Singapore authorities were scrutinising Low's bank accounts.
"We are not making any comments on the issue (1MDB)," said a Singapore Police Public Affairs officer who identified himself as Haziq.
1MDB has been thrust into the spotlight after WSJ published an article claiming that Prime Minister Datuk Seri Najib Tun Razak channelled close to US$700mil (RM2.6bil) into his personal bank accounts.
The Prime Minister, who is the chairman of 1MDB's board of advisers, has since reiterated that he did not take any money for personal gain.