KUALA LUMPUR: Fugitive businessman Low Taek Jho and his father Tan Sri Larry Low Hock Peng have been sentenced to prison indefinitely for contempt of court.
They were found guilty of not abiding by a Mareva injunction in relation to a lawsuit filed by 1Malaysia Development Bhd (1MDB) and its subsidiary Global Diversified Investment Company Ltd.
A Mareva injunction is a temporary order which restrains the defendant from disposing of assets until the case between the plaintiff and defendant is determined.
The warrant of committal was issued by High Court judge Justice Hayatul Akmal Abdul Aziz after she allowed an application by 1MDB.Both Low, better known as Jho Low, and his father are on the run and not in the country. If caught, they will be imprisoned until they purge the contempt order imposed on them.
They were not represented at the proceedings yesterday while 1MDB was represented by lawyer Siva Kumar Kanagasabai from Skrine.
On March 16, 1MDB and Global Diversified (formerly known as 1MDB Global Investments Ltd), obtained the Mareva injunction from the High Court preventing Low from disposing of US$1.03bil (RM8.14bil) in assets.
Hock Peng faces a similar injunction involving US$401.5mil (RM1.76bil).On May 25, the High Court dismissed Low’s application to set aside the injunction order.
On Aug 12, Justice Hayatul granted leave to 1MDB to initiate contempt proceedings against Low and his father after they did not respond to the injunction order.
