Jho Low's parents enter appearance at 1MDB suit

KUALA LUMPUR: Wanted businessman Low Taek Jho, or ‘Jho Low’, as well as his parents Tan Sri Larry Low Hock Peng and Puan Sri Goh Gaik Ewe have entered appearance in the US $ 3.7837bil suit filed by 1Malaysia Development Berhad (1MDB) against them.

The appearance was entered by the law firm, Messrs. Valen, Oh & Partners representing the three defendants on Dec 29, 2021.

Lawyer K.Siva Kumar, who represented 1MDB, said the court had ordered Jho Low and both his parents to file a statement of defence on or before Jan 26, besides setting Feb 9 for case management.

"However, the other three defendants, namely Jho Low's sister May Lin, his younger brother Taek Szen and his associate Eric Tan Kim Loong have yet to enter an appearance in the suit," the lawyer said when contacted by reporters via WhatsApp after the case management was carried out online before Deputy High Court Registrar Nor Afidah Idris on Wednesday (Jan 5).

On May 7, 1MDB and its four subsidiaries, 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified Investment Company Limited formerly known as 1MDB Global Investments Limited, had filed a suit against the six defendants.

Based on the writ, 1MDB was claiming US$661mil from Jho Low and US$41mil, US$397mil, US$608mil and US$1.9bil from Jho Low and Tan respectively as well as US$325mil from Jho Low and his father Hock Peng.

1MDB Global Investments Limited was also seeking US$630mil from Hock Peng, Jho Low and Tan and US$2mil from Taek Szen, Jho Low and Tan.

The plaintiffs were also seeking US$3.5mil from May Lin and Jho Low and US$1.695mil from Goh Jho Low and Tan in connection with the purchase of jewellery and secret profits apart from claiming US$25.5mil from Jho Low, Tan, Hock Peng and Taek Szen.

Based on the statement of claim, all the plaintiffs claimed that they were manipulated by a group of individuals, including Datuk Seri Najib Razak and the first defendant (Jho Low) to facilitate a large-scale and long-term fraud which resulted in billions of ringgit being fraudulently misappropriated into privately controlled accounts for the benefit of various fraudsters, including the defendants.

"In carrying out the fraud, multiple breaches of trust and/or fiduciary duties were committed by Najib, members of the board of directors and senior management of the plaintiffs.

"The funds and assets of the plaintiffs which were transferred to the defendants were misappropriated, with the knowledge of the defendants, in breach of trust and fiduciary duty," said all the plaintiffs.

They also claimed that Najib had abused his power and position to protect himself and cover up the fraud against the plaintiffs, among others by obstructing efforts to investigate and uncover evidence related to fraud and misconduct against the plaintiffs in Malaysia. - Bernama

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court , Jho Low , 1MDB , parents , summons , enter appearance


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