High Court allows RM48mil seizure from accounts of Jho Low's father

  • Nation
  • Friday, 19 Jul 2019

Located in the coveted Bird Streets on a pie-shaped promontory known as the Crown, the 1.2-acre complex was famously owned by Jho Low.

KUALA LUMPUR: The High Court here has allowed the Federal Government to seize RM48mil from the bank accounts of Tan Sri Larry Low Hock Peng, the father of fugitive businessman Low Taek Jho or better known as Jho Low.

Justice Mohamed Zaini Mazlan made the ruling on Friday (July 19) in favour of the application from Deputy Public Prosecutor Aaron Chelliah after no third party turned up to contest the forfeiture of monies worth over RM48mil from seven bank accounts belonging to Hock Peng.

The court was informed that a notice for third parties with interests in the asset to come forward and challenge the forfeiture was gazetted on June 17.

On April 19, the High Court agreed to the prosecution's request to gazette a notice inviting third parties to show cause why the properties should not be forfeited to the government.

The monies frozen by the authorities on Hock Peng's accounts were believed to be part of the 1Malaysia Development Bhd (1MDB) probe.

The Government had on March 29 filed a civil forfeiture action to freeze seven bank accounts belonging to Hock Peng with the intention to forfeit them, claiming that the money was a result of money laundering activities.

Police had issued a warrant of arrest against Hock Peng, whose whereabouts are unknown.

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