Malaysian financier Jho Low is accused of being one of the masterminds behind the 1MDB scandal. He allegedly pocketed almost $2 billion in three bond issues in a matter of months. According to an FBI agent, he earned 50c a day for the first twelve weeks of the scheme.
The scandal has led to a global manhunt for the Malaysian financier. His activities are detailed in the bestselling book Billion Dollar Whale and a miniseries starring Michelle Yeoh is currently in the works. Despite the ongoing global manhunt, Low may have enough wealth to protect himself in China. His travel plans have raised questions about the country’s corruption and protection of its citizens.
According to the book, Low is now facing a lawsuit from 1MDB over the scandal. The lawsuit alleges that Low misused Malaysia’s sovereign wealth fund. As a result, the country’s future generations will be burdened with billions of dollars of debt. Furthermore, the 1MDB scandal has been blamed for UMNO’s defeat in the latest elections, a loss for the party in power for more than 60 years.
Jho Low is a Malaysian businessman who is accused of fraud and corruption. The case involves a $4.5 billion money scheme in Malaysia. Although Low has not yet appeared in a Malaysian court, he has been cooperating with US prosecutors in order to recoup his assets. Despite this, he is still on the run and the Malaysian police are continuing their investigations.
The investigation into Low has focused on Low’s role in the 1MDB scandal. As one of the leaders of the investment fund, Low is now being charged with financial crimes and embezzlement. Moreover, his relationship with Henley has been implicated in the scandal. In fact, he had contracted the company to build him a villa in Cyprus.
Low is accused of stealing billions of dollars from a Malaysian investment fund, 1MDB. Although Low has repeatedly denied any wrongdoing, he is still wanted by Interpol. However, he is believed to be living in the United Arab Emirates. He has requested asylum in a third country, which he has done.
As one of the chief executives of the 1MDB fund, Low had access to nearly $700m in assets. His assets included a Beverly Hills boutique hotel and properties in New York and London. Low also had a stake in the Park Lane hotel, which brought in $140m.
Low was born in Malaysia in 1981. His jet-setting father taught him the value of networking. He often hired models for his parties. As a young man, he studied at Wharton Business School. He also threw his first elaborate party, rented out a nightclub for $10,000 for his 20th birthday.
Despite his alleged involvement in the 1MDB scandal, he has managed to avoid jail time. In 2018, he pleaded guilty to money laundering charges and agreed to forfeit $43.7 million. The United States has also settled with Low’s family over $700 million worth of assets. According to the government, these assets were bought using funds that 1MDB misappropriated. The assets include a $120 million super yacht.