IGP: JHO LOW CHARGED OVER GOOD STAR DEALS
He faces 5 money-laundering charges for transferring US$1b to Good Star
THE charges against fugitive businessman Low Taek Jho and four of his associates on Tuesday were mainly over transactions involving Good Star Ltd and 1Malaysia Development Bhd’s (1MDB) predecessor, Terengganu Investment Authority (TIA), said Inspector-General of Police Tan Sri Mohamad Fuzi Harun.
He said Low, better known as Jho Low, was facing five moneylaundering charges for transferring US$1.03 billion into Good Star’s accounts between Sept 30, 2009, and Oct 25, 2011.
Good Star, a company registered in the Seychelles, is controlled by Low and had received funds diverted from a joint venture between 1MDB and PetroSaudi International.
Low, 37, was jointly charged with his associate, Eric Tan Kim Loong, 40, of money laundering involving US$126 million they allegedly received from the issuance of Islamic medium-term notes by TIA in May 2009.
Another Low associate, Casey Tang Keng Chee, 53, was charged with criminal breach of trust over the transfer of US$700 million to Good Star.
Tang, who was TIA executive director of business development and later 1MDB executive director, also faces two money-laundering charges for allegedly receiving US$6.7 million in two tranches on Aug 5, 2009, and Dec 23, 2010.
Former 1MDB general counsel and executive director of group strategy Jasmine Loo Ai Swan, 45, was charged with two counts of money laundering over US$6 mil- lion received in a Swiss account she controlled on Dec 6, 2012, and July 1, 2014.
This is believed to be a portion of funds diverted from the first two 1MDB bond offerings underwritten by Goldman Sachs.
1MDB former executive finance director Terence Geh Choh Heng, 47, was charged with criminal breach of trust over the transfer of US$125 million to Good Star on Oct 25, 2011.
Fuzi confirmed that arrest warrants had been issued for all five.
He said police would get help from other countries and Interpol to trace the five.
He said police would apply for extradition via the AttorneyGeneral’s Chambers once it was established where they fled to.
He said police had handed over the case and briefed the attorney-general on the 1MDB investigation results on Monday. “After reviewing the case statement, the A-G decided that the police will file charges under the Penal Code and AntiMoney Laundering and Anti-Terrorism Financing Act 2001.”
In August, criminal charges were filed against Low and his father, Tan Sri Larry Low Hock Peng, over money allegedly stolen from 1MDB. The money-laundering charges were brought against the duo in absentia.
Low, who is being hunted by police and wanted in Malaysia, Singapore and several other countries, is believed to be hiding either in China or Abu Dhabi, but his whereabouts are unknown.
He has been on Interpol’s Red Notice since October 2016.
Immigration revoked Low’s passport upon the Malaysian Anti-Corruption Commission’s request.