She signed SD and declared items, says Deputy IGP
KUALA LUMPUR: Millions in assets bought by Jasmine Loo Ai Swan using 1Malaysia Development Bhd (1MDB) money will be returned, says Datuk Seri Ayob Khan Mydin Pitchay.
The Deputy Inspector-General of Police said police have effectively concluded their investigations involving Loo, which showed that she had assets in several countries, including the United States, Switzerland, and Singapore.
“We believe these assets were paid for using money syphoned from 1MDB.
“Investigations also showed that she was the owner of River Dee International SA, which is registered in the British Virgin Islands. This company has conducted transactions on the properties and has a joint account under Falcon Private Bank with Jho Low as of November 2012.
“Through River Dee, she received five transactions from several entities and companies amounting to US$16,074,975 (RM74,829,008.62 in 2023),” he told a press conference yesterday.
Ayob said the funds were then used to purchase properties in New York and London, and around US$5,000,000 (RM23,275,000) had already been seized by the US Department of Justice.
The Deputy IGP said Loo had also signed a statutory declaration (SD) on Aug 23 this year, stating that she would return assets to 1MDB.
“The SD has been handed over to Singapore’s Commercial Crime Affairs Department on Aug 30,” he said.
Ayob said police were in the midst of completing the full seizure of several other assets linked to her, including two Pablo Picasso paintings and an apartment in London.
“The value of the assets at the time of purchase was listed as RM93,266,291 in 2013, but the value could be much higher now.
“She has cooperated well with us, and she has also made her SD, so we are satisfied that all her assets have been revealed.
“The process of reappropriating the assets will take some time as they are based overseas,” he said.
On the next course of action, Ayob said Loo would be handed over to other agencies in the near future to assist them in their investigations.
“There are a lot of possibilities. Perhaps we will charge her, or other agencies will.
“She has been away from the country for so long. It is hard to hide in a foreign country, so maybe that is why she decided to return and face the legal process here,” he said.
Ayob also said the hunt for fugitive businessman Low Taek Jho, or Jho Low, is still ongoing.
“The investigations into 1MDB are ongoing and we are working closely between ‘agency to agency’ and ‘police to police’.
“We have never stopped tracing Jho Low to bring him back. This involves other countries,” he said.
On July 7, Loo surrendered herself at the Dang Wangi police headquarters.
She is said to be a close associate of Jho Low, who was also involved in the 1MDB financial scandal.
On Dec 4, 2018, the Magistrate’s Court issued arrest warrants against Jho Low, Loo, former 1MDB executive director Casey Tang Keng Chee, former 1MDB official Geh Choh Heng and Jho Low’s close associate Eric Tan Kim Loon after they failed to appear in court to face seven charges of money laundering related to 1MDB.
On May 3, Kee Kok Thiam, another suspect in the 1MDB case, was arrested when he arrived at KLIA Terminal 2.
However, Kee died on May 30 due to a stroke.