KUALA LUMPUR, May 18 — Investigators are now looking to seize the money obtained by three known associates of fugitive businessman Jho Low, as it is derived from unlawful activities linked to 1Malaysia Development Berhad (1MDB).
The Edge reported that the three identified as Kee Kok Thiam, Tan Vern Tact, and Geh Choh Hun, were formerly the directors of Javace Sdn Bhd, UBG Bhd, and Majestic Masterpiece Sdn Bhd, which were controlled by Low.
Earlier in June 2015, it was reported that up to US$260 million (RM805 million at the time) from 1MDB was funnelled to Javace, so that it could take over all of UBG’s shares alongside concerted parties. This is reported to have taken place in September 2010.
That same year UBG was set to pay a sizable dividend to shareholders, which includes RM658 million to Majestic Masterpiece.
The sums authorities are looking to seize RM3.3 million under Kee, RM13 million under Tan, and RM90,000 under Geh. The trio left the country on April 16 last year, and have not returned since.
Low’s mother Goh Gaik Ewe has also come under scrutiny, as money in bank accounts belonging to her totalling RM795,000 and the family home in Penang worth RM5 million is also being investigated. Goh is said to have left Malaysia in April last year.
A company called Rembulan Kembara Sdn Bhd is also being targeted. Formerly known as Goldfin Group Sdn Bhd, it had a bank account in Penang, with its registered shareholder and sole signatory of the account being Low’s father Harry Low Hock Peng.
Investigators have revealed that in April 2012 US$20 million (RM83.5 million today) was transferred to a Malaysian bank account of Goldfin in Singapore by Abu Dhabi Kuwait Malaysia Investment Corp, which had received money from 1MDB sources.
At present, it is estimated a mere RM35,510 is left in the Goldfin/Rembulan bank account, due to numerous transfers over the last few years. One of the company’s directors has been identified as Koay Lean Kooi, who passed away on November 21 last year.