PETALING JAYA: Police have filed criminal charges against Low Taek Jho, also known as Jho Low, and his father over money allegedly stolen from 1Malaysia Development Bhd (1MDB), The Edge reported Friday, quoting sources.
The charges for money laundering were brought against Low and his father Tan Sri Low Hock Peng “in absentia” by the Commercial Crime Investigation Department (CCID) of the police and the Attorney General’s Chambers, the business publication said in its online edition.
The court papers were registered with the Sessions Court in Putrajaya on Friday morning and warrants of arrest for both men were also sought.
“With the registration of the charges, the next step is to seek an extradition,” one legal source told The Edge, which added that Jho Low and his family are believed to be in China or Abu Dhabi.
Jho Low has denied allegations that he stole money from 1MDB, claiming that his wealth was family inheritance.
According to court documents sighted by The Edge, Jho Low was slapped with eight charges under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act, 2001 (Act 613).
Three of the charges were for receiving money and the remaining five were for transferring the cash, the portal added.
His father faces one charge of transferring US$56mil RM230mil at current rates) to his son.
The total sum involved is around US$261mil (more than RM1bil) for receipt of money and US$196mil (RM805mil) for transferring of the cash – all done through separate accounts at BSI Bank in Singapore from December 2013 to June 2014.
Most of those cash was used for the US$250mil purchase of the superyacht Equanimity which Malaysian authorities seized two weeks ago, The Edge noted.