Parties With Legitimate Stake In Assets Of Jho Low S Father Can File Claims

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Any party that has a legitimate stake in the assets of Larry Low Hock Peng (photo, above), the father of fugitive tycoon Jho Low, which have been frozen on a court order, will soon be able to file a claim on the assets
The High Court in Kuala Lumpur today set July 19 to hear the claims on the assets, which are said to amount to RM48 million
Judge Mohamed Zaini Mazlan made the order after deputy public prosecutor Aaron Abhilash Paul Chelliah applied for a court order on this to be gazetted under Section 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 (Amla)
The provision allows any bona fide third party with any stake in properties frozen under the anti-money laundering law to attend court, on a specified date, and explain why the property should not be forfeited. The court may then order the property to be returned to the claimant if the claimant is found to have a legitimate legal interest in the property and have no involvement in or knowledge of any offence under the Amla
Previously, The Edge Markets reported that the money that had been frozen and is being forfeited had originated from 1MDB
According to the report, the filing, made under Section 56 of Amla, allows the government to seize properties, even without charges being made
Prior to today’s proceedings, it was also reported that a bungalow (photo) in Penang owned by Jho Low’s family has also been seized
In a statement through a spokesperson, Jho Low had slammed the confiscation as an attempt by Prime Minister Dr Mahathir Mohamad to gain political mileage
Jho Low and his father Larry Low were charged in absentia at the Putrajaya Sessions Court in relation to the alleged misappropriation of 1MDB funds
Jho Low is facing eight charges of money laundering, while his father is facing one charge
Both are still at large, and police are also looking for Larry’s wife, Goh Gaik Ewe. - Mkini

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