Jho Low’s aide, sister ordered to pay 1MDB US$2.8bil
The High Court here has ordered Tan Kim Loong and Low May Lin, both linked to fugitive financier Low Taek Jho, to pay 1MDB nearly US$2.8 billion for receiving and concealing misappropriated funds.
Justice Mahazan Mat Taib ruled in favour of 1MDB, directing Tan, also known as Eric, to pay US$2.795 billion and May Lin to pay US$809,319.
The judge said evidence presented by 1MDB and its four subsidiaries pointed to an elaborate, multi-layered siphoning of funds carried out by individuals in positions of authority and supported by offshore structures and trusted associates, including the two defendants.
The evidence, consisting of corporate records, fund flow charts, bank documents and witness testimonies, went unchallenged.
Mahazan said the plaintiffs had shown that the misappropriation involved four phases, namely “Good Star” (in 2011), “Aabar”…
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