US seizure of 1MDB assets moves on with Jho Low’s family sidelined

(Dec 14): A US effort to seize about US$1 billion ($1.43 billion) in assets allegedly acquired with funds siphoned from 1Malaysia Development Bhd. is moving ahead over objections from relatives of the Malaysian financier at the centre of the scandal.

A Los Angeles federal judge’s ruling Monday blocking family members of Low Taek Jho, known as Jho Low, from intervening in the forfeiture lawsuits gives the government the upper hand as it seeks to confiscate properties including a US$100-million interest in EMI Music Publishing Group, a US$35 million Bombardier jet and a US$380-million stake in the Park Lane Hotel in New York.

To fight back against the US in Low’s absence, four of his relatives, including his father and brother, are trying to replace the Swiss trustees holding the assets that have declined to oppose the forfeiture. According to the family, the Swiss trustees fear being exposed to criminal liability if they get involved.

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