Jho Low claims his role was only that of an intermediary in deals involving 1MDB

Written by
Updated on Mar 11, 2020
Reading time 3 minutes
  • Jho Low denies all claims of being the mastermind behind the 1MDB financial fraud.
  • Jho Low currently faces financial fraud charges in the U.S and in Malaysia.
  • Jho says he found asylum but chose to not divulge the name of the country that offered asylum.
  • Jho signed a $1 billion deal with the U.S authorities in November 2019.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

In an interview on Monday, Low Taek Jho denied his involvement in a billion-dollar 1MDB fraud, highlighting that his role was confined to being the intermediary to the deals only. The Malaysian state fund has lost $4.5 billion in the 1MDB scandal. The fund was founded by the ex-Malaysian Prime Minister, Najib Razak.

Jho currently faces charges of financial fraud in Malaysia as well as the U.S. As per the report, Jho’s case has become the largest anti-kleptocracy case for the U.S Department of Justice in history.

Jho Says The Accusation Against Him Is Politically Motivated And Lacks Evidence

Copy link to section

Jho has remained active in denying all accusations against him, reiterating that using intermediaries for financial deals is a common scenario for companies and that he was only chosen due to his far-reaching connections. The accusation against him, he added, is politically motivated and lacks evidence.

Low’s spokesman has chosen not to respond at this stage.

Jho has also made a counter-accusation on the Malaysian government that, according to him, has denied the basic human rights to him and his family. He also stated that the government has labeled him as the genius behind the 1MDB financial fraud without allowing fair judicial processes.

Jho took the opportunity to highlight his crucial role in inviting real estate, financial, and other investments to Malaysia from multiple of its key allies like Saudi Arabia. It was his ties with the Arab government, he remarked, that helped widen the quota for the Hajj pilgrimage for the Malaysian Muslims.

According to Jho, he has found asylum in a country, the name of which he chose not to divulge.

Jho Signed A Deal With The U.S Authorities In November

Copy link to section

A deal between Jho and the U.S authorities in November led to the recovery of $1 billion in funds. The recovered funds were in the form of high-end real estate in multiple locations like London, New York, and Beverly Hills, along with a private jet. The deal, however, didn’t absolve the criminal charges against him. He was also not required to plead guilty as part of the deal.

Jho also highlighted in his interview he has had, what he calls, “multiple brushes with cancer”, owing to which he now plans on making sizeable investments in advanced cancer research. He talked about philanthropy and returning to the community while discussing his investment plans.

Advertisement