Jho Low S Sister Close Associate Ordered To Pay Rm14 9b To 1mdb

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The Kuala Lumpur High Court has ordered Low Taek Jho’s (Jho Low) older sister and one of his close associates to pay more than US$3.6 billion (RM14.9 billion) to 1MDB as liability for their involvement in laundering the company’s funds.
Judge Mahazan Mat Taib awarded the judgment in default after both Low May Lin and Tan Kim Loong failed to appear in court for the proceedings, ruling that the company had successfully proven its case against the duo on the balance of probability.
Tan has to cough up US$2.795 billion, while May Lin will have to pay US$809,319.
Through documentary evidence tendered in court, which the defendants did not contest, the court found the link between the duo and the wanted businessperson, as well as former prime minister Najib Abdul Razak, who exercised de facto control over the company’s major financial decisions, pursuant to Article 117 of the company’s constitution.
“Although Jho Low held no formal position, he acted as Najib’s proxy and shadow director.
“His directions were treated by the board and C-level management as authoritative and representative of Najib (in which) many key transactions were formulated and executed through entities controlled by Jho Low and his associates.
“Funds intended for national projects were rapidly diverted into offshore structures controlled by Jho Low,” Mahazan said.
Ex-PM Najib Abdul RazakThe judge further added that Tan had served as an essential conduit in the laundering and layering of the stolen funds, and that documentary evidence showed he received US$2.795 billion that was wrongfully diverted from the company.
As for May Lin, the court found that she did receive US$809,319 directly into her personal account through four transfers from her father, Hock Peng.
“These transfers were gratuitous, lacked any commercial rationale, and originated from funds misappropriated via the Good Star Ltd structure.
“As the sister of Jho Low, her role as a personal beneficiary of siphoned funds fits squarely within the wider pattern of family-based concealment,” Mahazan said.
The court also ordered the two defendants to pay RM500,000 in costs to the company.
1MDB’s claims
1MDB and its four subsidiaries - Global Diversified, 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited - filed the US$3.7837 billion lawsuit against Jho Low; his father; his mother, Goh Gaik Ewe; May Lin; younger brother Taek Szen and Tan in 2021.
Based on the writ of summons, 1MDB sought US$661 million from Jho Low; US$41 million, US$397 million, US$608 million and US$1.9 billion each from Jho Low and Tan; and US$325 million from Jho Low and his father.
1MDB Global Investments Limited sought US$630 million from Hock Peng, Jho Low and Tan, and US$2 million from Taek Szen, Jho Low and Tan.
The plaintiffs were also seeking US$3.5 million from May Lin and Jho Low and US$1.695 million from Goh, Jho Low and Tan over the purchase of jewellery and secret profits, in addition to US$25.5 million from Jho Low, Tan, Hock Peng, and Taek Szen.
However, in 2022, the companies obtained a judgment in default against Jho Low, his father, and his brother, followed by one against his mother in 2024. - Mkini

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