KL High Court allows seizure of $15.8 million from accounts of JhoLow's father
KUALA LUMPUR - The Kuala Lumpur High Court on Friday allowed the Malaysian Government to seize RM48 million from the bank accounts of Tan Sri Larry Low Hock Peng, the father of fugitive businessman Low Taek Jho or better known as Jho Low.
The court was informed that a notice for third parties with interests in the asset to come forward and challenge the forfeiture was gazetted on June 17. The monies frozen by the authorities on Hock Peng's accounts were believed to be part of the 1Malaysia Development Bhd probe. Taek Jho, an associate of former prime minister Najib Razak and his family, has denied any wrongdoing relating to the corruption scandal at 1MDB, saying he was an informal consultant at the fund.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jho Low never punctual for meetings, ex-banker tells Najib’s SRC trialKUALA LUMPUR, July 18 — Runaway financier Low Taek Jho ― better known as Jho Low ― was always late for meetings even when scheduled in advance, Cheah Tek Kuang testified in Datuk Seri Najib...
Read more »
Malaysian court orders AirAsia to pay airport operator millions in service chargesKUALA LUMPUR: The Kuala Lumpur High Court has ordered low-cost carrier AirAsia to pay the country's airport operator RM40.73 million (US$9.90 ...
Read more »
Jho Low’s Gutted Hollywood Hills Mansion Lists at $15 Million LossWay back in November 2012, as the global economy gingerly emerged from a long recession, an enormous Hollywood Hills estate sold for $39 million. That unprecedented sale price shocked all real estate observers and sparked an avalanche of gold-digging developers to build and market their own 'trophy
Read more »
Danske Bank second-quarter pre-tax profit hit by costs, low interest ratesDanske Bank's second-quarter pretax profit came in below expectations on Thursday hit by low interest rates and higher costs associated with ...
Read more »
Japan manufacturers' mood hits 3-year low: Reuters Tankan survey[TOKYO] Japanese manufacturers' business confidence hit a three-year low in July, highlighting the fragility of the export-led economy as external demand slackens in the face of cooling global growth and trade friction, the Reuters Tankan showed. Read more at The Business Times.
Read more »
Pound struggles near 3-year low against Singdollar as hard Brexit fears riseSINGAPORE: The sterling pound struggled near a three-year low against the Singapore dollar on Wednesday (Jul 17) as markets continued to price in ...
Read more »