KUALA LUMPUR – Fugitive businessman Low Taek Jho, better known as Jho Low, and his father, Tan Sri Larry Low Hock Peng, were today sentenced to imprisonment for breaching the Mareva injunction (asset freezing) orders issued by the court in March and April this year, which required them to disclose their whereabouts and assets.
High court judge Hayatul Akmal Abdul Aziz issued the warrant of committal after allowing an application by 1Malaysia Development Bhd’s (1MDB) counsel, Siva Kumar Kanagasabai.
1MDB and its subsidiary Global Diversified Investment Company Ltd (formerly known as 1MDB Global Investments Ltd) filed the committal application in May, after not receiving any response from the defendants in accordance with the Mareva injunction.
When met by reporters after the proceedings, Siva Kumar said the judge also ordered the pair to pay RM5,000 in costs.
“The judge also sentenced them to imprisonment until the contempt is purged,” said the lawyer.
During today’s proceedings, both Jho Low and his father were unrepresented as their lawyers, from Messrs Valen, Oh & Partners, had discharged themselves last July.
On August 12, the court granted 1MDB and Global Diversified Investment Company leave to initiate contempt against the pair.
The two companies obtained the Mareva injunction on March 15, and this was extended on April 20, where the companies applied to freeze US$1.03 billion (RM4.85 billion) of Jho Low’s assets and another US$401.5 million of his father’s assets, which were said to be related to 1MDB.
Jho Low and his father were supposed to disclose their whereabouts and assets to 1MDB and its subsidiary within 14 days of service of the March 15 and April 20 orders on their lawyers. They had not done so.
Following their failure to disclose as ordered, 1MDB and the subsidiary followed up with the contempt proceedings. – Bernama, October 17, 2022
.jpg)
.jpg)
