Jho Low still flush with cash despite DoJ probe, say WSJ writers

Jho Low has outstanding arrest warrants issued to Malaysian police and Malaysian Anti-Corruption Commission over his alleged role in the 1MDB scandal. — Picture via Facebook
Jho Low has outstanding arrest warrants issued to Malaysian police and Malaysian Anti-Corruption Commission over his alleged role in the 1MDB scandal. — Picture via Facebook

KUALA LUMPUR, Sept 19 — Fugitive businessman Low Taek Jho still has a considerable amount of the money he had allegedly stolen from the 1Malaysia Development Bhd (1MDB) sovereign fund, Wall Street Journal (WSJ) reporters covering him have claimed.

Reporters Tom Wright and Bradley Hope told US network CNBC’s programme, Squawk Box, that Low, who is widely known as Jho Low, was living in luxury in China and had used his money to try to stop the sale of their recently published book, Billion Dollar Whale.

“Obviously, he now could not use the US financial system because there is a DoJ probe into this whole matter,” said Wright, referring to the US Department of Justice that launched a kleptocracy probe into the matter.

“But he is still able to use his money, including hiring big law firms like Schillings in the United Kingdom who have been sending legal letters around the world,” he added, referring to attempts to stop the sale of the book.

They then described Low as a man without an “end game”.

“From the earliest days he is being over extended and that is why you saw the size of the thefts got bigger and bigger,” said Hope.

“At one point people are asking for the money back in Malaysia where he’s from, people have worked out there is a fraud and he gets a big loan from Deutsche Bank and instead of using it to fill the hole, he goes and buys a US$250 million yacht called Equanimity. It’s crazy,” Wright added.

When asked how Low could have deceived some of the biggest names in Hollywood, Hope described the Penang-born fugitive as the “ultimate stage manager” who knew what everyone wanted to hear.

Low has outstanding arrest warrants issued to Malaysian police and Malaysian Anti-Corruption Commission over his alleged role in the 1MDB scandal.

According to the book, Low stole at least US$5 billion (RM20.7 billion) from 1MDB.

Low has outstanding arrest warrants issued to Malaysian police and Malaysian Anti-Corruption Commission over his alleged role in the 1MDB scandal.