KUALA LUMPUR: The 1Malaysia Development Bhd (1MDB) financial scandal receives another courtroom blow as a judge ordered Jho Low’s sister and an associate to return close to US$2.8bil in tainted proceeds syphoned from the sovereign wealth fund.
Justice Mahazan Mat Taib granted the judgment in default against Low May Lin and his elusive associate Eric Tan, whose whereabouts remain unknown, after finding that 1MDB had proven its case against the two.
“The evidence before this court reveals an elaborate, multi-layered, and multi-faced syphoning of funds orchestrated by individuals in positions of power, aided by a network of offshore entities and trusted associates, including the defendants,” Justice Mahazan said here yesterday.
The court said the plaintiffs had tendered extensive documentary evidence, including bank records, SWIFT confirmations, account opening forms, corporate documents and fund-flow reconstruction charts.
“The plaintiffs also called three witnesses, namely former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi, UK-based financial fraud investigator Richard Templeman and offshore and cross-border asset recovery specialist Angela Barkhouse.
“Their evidence stands unchallenged,” Justice Mahazan said.
The court said evidence showed that Tan was the beneficial owner of Alsen Chance and Blackstone accounts, which received US$2.79bil wrongfully diverted from 1MDB.
Meanwhile, May Lin received US$809,319 directly into her personal account through four transfers from her father, Tan Sri Larry Low Hock Peng.
“The identities of the recipients, the structure of the transactions and the roles of Jho Low and Datuk Seri Najib Razak establish that the funds reaching Tan and May Lin were tainted proceeds,” she added.
The court ordered May Lin to pay US$809,319 and Tan to pay US$2,795,333,000 to 1MDB, respectively.
In 2021, 1MDB and its four subsidiaries filed the US$3.78bil suit against Low, whose real name is Low Taek Jho; his father, Hock Peng; May Lin; brother, Taek Szen; mother, Goh Gaik Ewe; and Tan, seeking proprietary relief arising from the fraudulent misappropriation of substantial sums belonging to 1MDB and its subsidiaries.
In 2022, 1MDB obtained a judgment in default (JID) against Jho Low, Hock Peng, and Taek Szen. In 2024, another JID was obtained against Goh.
