Jho Low’s relatives fight US forfeiture of 1MDB-linked assets

(Nov 1): Relatives of the financier accused by US prosecutors of playing a central role in siphoning more than US$3.5 billion ($4.9 billion) from Malaysia’s state investment fund are fighting attempts to seize assets acquired with misappropriated funds.

Four family members of Low Taek Jho, also known as Jho Low, have initiated claims for properties the US said he bought with money from the 1MDB fund, including a US$100-million interest in EMI Music Publishing Group, a US$35 million Bombardier jet, and a US$200-million stake in the Park Lane Hotel in New York.

The family members, including Low’s brother and father, say they are beneficiaries of the family-owned trust that controls the assets and were forced to file claims themselves because the Swiss trustees have refused to take any action in the forfeiture lawsuits, according to filings Monday in Los Angeles federal court.

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