First non-conviction confiscation order
A Cypriot court has ordered the confiscation of a Jho Low property in Ayia Napa valued at approximately €6 million, in what authorities say is the first non-conviction-based forfeiture order issued in a Cyprus case.
The order concerns assets belonging to fugitive Malaysian financier Jho Low, who remains outside the jurisdiction of the Republic of Cyprus.
Order issued by Nicosia District Court
The proceedings were heard before the Nicosia District Court following an application by the Republic’s Law Office and the Unit for Combating Money Laundering (MOKAS).
With the consent of lawyers representing Jho Low, the court issued the confiscation order by agreement.
Based on anti-money laundering legislation
The application was filed under Articles 32 and 33 of the Prevention and Suppression of Money Laundering Activities Laws of 2007 to 2025.
Authorities described the decision as a significant legal development, as the confiscation was secured without a criminal conviction being obtained against the owner of the property.
Landmark case for Cyprus
The Jho Low property case marks the first time Cypriot authorities have successfully obtained a forfeiture order without a conviction in a domestic case.
The Ayia Napa residence, valued at around €6 million, will now be subject to confiscation under the court order.
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