KUALA LUMPUR – The Kuala Lumpur High Court has allowed the RM48 million forfeiture suit against Larry Low Hock Peng, father of fugitive businessman Low Taek Jho.
The court decided that the money seized by the Malaysian Anti-Corruption Commission (MACC) now belongs to the Malaysian government.
MACC’s forfeiture suit was part of the investigation into the 1Malaysia Development Bhd (1MDB) financial scandal.
Judge Mohamed Zaini Mazlan’s order that the money be forfeited by the government after MACC deputy public prosecutor Shafinas Shabudin as the applicant announced there was no third party present in court to claim the money amounting to RM48,491,064.
“Notice to the third party was issued on March 11 this year, however no third party was present in court today to claim the money.
“As there was no third party present to claim and the asset was proposed to be forfeited, the prosecution is seeking for the assets to be forfeited by the government of Malaysia,” said Shafinas.
Larry, as the respondent, was not represented by any lawyer and he himself was not present in court. Larry, his wife Goh Gaik Ewe and Jho Low are still wanted by authorities in connection to the scandal.
After the proceeding, Shafinas said the money involved were RM20,784,952.56, RM300,000, RM500,000, and RM20 million seized from current and fixed accounts of the respondent at the KLCC branch of RHB Bank.
According to Shafinas, RM6,242,593.10, RM345,496.47 and RM318,021.95 were also confiscated from the fixed and current accounts of the respondent in the Maybank Plaza Gurney branch in Penang.
On July 19, 2019, Zaini allowed the prosecution to forfeit RM48,979,500.67 in seven bank accounts belonging to Larry after no third party was present in court to claim the money.
However, the forfeiture case was heard again after the prosecution amended the proposed notice to enter information on two banks involved in the forfeiture application.
On March 29 the government filed a civil forfeiture notice to freeze seven bank accounts owned by Larry on the charge that the money were proceeds from money laundering.
A notice of seizure dated January 17 2019 directed to Goh Gaik Ewe, 66, Jho Low’s mother, was issued under Sub-Section 51 (1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Illicit Activities Act 2001.
To date, the authorities are reported to be still tracking down Larry, his wife Goh Gaik Ewe and Jho Low to assist in the investigation in the case involving 1MDB. – The Vibes, March 25, 2021
