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Jho Low ‘s multi-million London lingerie office to be put on sale

October 24, 2019

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The London office used by fugitive businessperson Low Taek Jho, or Jho Low, for his lingerie company is to be put on sale as United States (US) authorities continue to seek money believed to be misappropriated from 1MDB.

According to court filings dated Oct 23, sighted by Malaysiakini, the DOJ has proposed the lifting of the stay order on several properties located on Stratton Street at the upmarket Mayfair district, in order to facilitate their sale.

According to a report by Bloomberg today, the properties included the office building, reportedly purchased in 2014 for £42 million (RM227 million at current rates).

The office was utilised as the headquarters for Myla, a lingerie company that the DOJ claimed Low also acquired with funds traceable to 1MDB.

According to previous reports, Low resigned as a director of Myla in November 2014. The company reportedly lost £7.59 million (RM41.03 million in current rate) in 2015.

It was one of a string of assets the US Department of Justice (DOJ) is listed in its US$1 billion (RM4.18 billion at current rates) civil forfeiture suit in 2016.

Also proposed to the US Central District of California district court was the lifting of the stay on a penthouse, and another flat, also located at Stratton, for their possible sale.

It was stated in the filings that Low’s party have agreed to these arrangements.

Low is wanted in many countries, including the US, Malaysia and Singapore to assist in investigations into the multi-billion dollar 1MDB scandal. He also faces criminal charges in the US and Malaysia.

He is alleged to be the mastermind behind the financial heist, said to be the biggest in the world. He, however, has denied any wrongdoing but remains on the run.

In November last year, Low was charged in absentia in the US.


From → Malaysia Upclose

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