Fugitive financier Jho Low is reportedly seeking a pardon from Donald Trump over criminal charges linked to the multibillion-dollar 1Malaysia Development Berhad (1MDB) scandal.
According to reports, Low recently submitted a pardon request that could erase criminal charges filed against him in the United States.
Low faces multiple allegations in both the US and Malaysia, including corruption and money laundering connected to the alleged theft of at least $4.5 billion from the now-defunct sovereign wealth fund.
The 1MDB case became one of the world’s largest financial scandals after emerging in 2015.
White House reportedly unaware
The Wall Street Journal reported that Low’s application was filed this year, citing sources familiar with the matter. A White House official reportedly said the request was not currently on the administration’s radar.
The US Justice Department website lists a pending request for a “pardon after completion of sentence” under Low’s full name, Taek Jho Low.
Low has consistently denied wrongdoing and remains a fugitive, with his whereabouts still unknown.
Malaysia opposes pardon request
Johari Abdul Ghani, who chairs a Malaysian taskforce working to recover 1MDB-linked assets, said the pardon request should be rejected. Johari urged US authorities instead to assist Malaysia in locating Low for further investigations.
“As far as I’m concerned, I’m against the pardon,” he said.
He also stated he was unaware of any negotiations between Low and Malaysian authorities regarding the return of assets.
Asset recovery efforts continue
According to the report, Malaysia temporarily lifted an Interpol red notice against Low to facilitate discussions linked to the return of significant assets.
In 2019, US authorities reached a deal to recover roughly $1 billion in assets connected to Low, including a private jet and luxury properties in Beverly Hills, New York City and London.
Malaysian Prime Minister Anwar Ibrahim said in 2023 that the government was working with several countries to speed up Low’s return, although he did not identify the nations involved.
Authorities previously suggested Low may have been in China, though Beijing denied those claims.
Connection to Cyprus’ “Golden Passports” case
Cypriot newspaper Politis said the businessman, known as Jho Low, obtained citizenship through the government’s “Golden Visa” scheme and with the blessing of Archbishop Chrysostomos II of Cyprus.
The Archbishop sent two letters to then-Interior Minister Hasicos requesting the naturalisation of Low based on alleged intention to invest in church land. Low acquired Cypriot citizenship after buying a €5 million villa in Ayia Napa, which was reportedly built on land belonging to the Church of Cyprus. Upon uncovering his past, Cypriot authorities seized the villa for potential confiscation if his citizenship was obtained through deception.
Low, meanwhile, became known as the mastermind of the 1Malaysia Development Berhad (1MDB) scandal, in which he allegedly laundered hundreds of millions of dollars in bribes and kickbacks which were diverted from the government-run strategic development fund.
Low was not wanted at the time he applied for citizenship.
However, the Politis report shows that Low had looked into getting a Cyprus passport in the spring of 2015 at a time when 1MBD was already falling under the suspicion of the Malaysian attorney general, who was seeking to determine whether its performance and activities were in line with its objectives announced in 2009.
Thomson Reuters due diligence documents shown in the Politis article listed Low as a risk in the categories of Politically Exposed Persons, Money Laundering, Fraud and Regulatory Breaches, and ‘Other’ Risk Factors.
The money’s alleged uses include the purchase of a since-seized yacht, luxury residential real estate in the United States, artwork from an auction house in New York, and gifts for celebrities like Leonardo DiCaprio and model Miranda Kerr. The money has also been traced to the purchase of a Picasso, diamond necklaces, and the funding of Hollywood blockbuster “The Wolf of Wall Street.”
Sources: The Guardian/OCCRP
Also read: Golden passports verdict: Syllouris, Giovanis acquitted
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