1MDB amends writ with claims against Jho Low, family and associate upped to over US$3.78bil

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) and its subsidiaries have amended their writ against fugitive businessman Low Taek Jho, his family and associate, with the total claims being upped to US$3.7837bil (RM15.89bil).

Previously, in the writ filed on May 7, the claims had stood at US$1.402bil (RM5.89bil) where Low - better known as Jho Low - his father Tan Sri Larry Low Hock Peng, sister May Lin and associate Eric Tan Kim Loong were named as defendants.

The amended writ and statement of claim, filed on July 6, has added Low’s mother Puan Sri Goh Gaik Ewe and brother Taek Szen, who is based in Hong Kong, as defendants.

The subsidiaries of 1MDB that are listed as plaintiffs are 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd (formerly 1MDB Global Investments Ltd) (1MDB-GIL).

According to the amended court documents, sighted by The Star on Wednesday (July 14), 1MDB is seeking US$660.75mil (RM2.78bil) from Jho Low alone instead of the original US$1.03bil (RM4.33bil).

1MDB also sought a declaration that Jho Low had received the sums that were secret profits received from defrauding the sovereign wealth fund.

The plaintiffs are seeking US$2.136bil (RM8.95bil) from Jho Low and Tan as well as another US$324.75mil (RM1.36bil) from Jho Low and his father Larry.

Another US$3.5mil (RM14.70mil) is being sought from May Lin and Jho Low; US$629.6mil (RM2.64bil) from Larry, Jho Low and Tan; and US$27.5mil (RM115.5mil) from Taek Szen, Jho Low and Tan.

The plaintiffs are also seeking US$1.695mil (RM7.12mil) from Goh, Jho Low and Tan, allegedly used for jewellery purchase.

The court documents also stated that it is seeking US$1.695mil (RM7.12mil) from Goh, Jho Low and Tan following the purchase of jewellery and other secret profits.

The plaintiffs said the claims against the defendants were for alleged fraudulent concealment, knowing receipt, fraudulent misappropriation of funds, unjust enrichment, breach of trust and conspiracy.

According to the statement of claim, the plaintiffs were manipulated by a group of individuals, including former prime minister Datuk Seri Najib Razak and Jho Low, to facilitate a large-scale and long-term fraud during Najib’s tenure in office.

“This resulted in billions of ringgit being fraudulently misappropriated and diverted into privately controlled accounts for the benefit of various fraudsters, including the defendants.

“The funds and assets of the plaintiffs, which were transferred to the defendants as described herein, were misappropriated with the knowledge of the defendants in breach of trust and fiduciary duty,” it said.

Case management has been fixed for Aug 12.