High Court allows govt to seize RM48m from Jho Low’s dad, no contest in forfeiture bid

20-Jul-2019 Intellasia | Malay Mail | 6:02 AM Print This Post

The High Court today ruled that the federal government can proceed immediately with full forfeiture of RM48 million belonging to Tan Sri Larry Low Hock Peng, the elusive father of fugitive financier Low Taek Jho who is better known as Jho Low.

Judge Mohamed Zaini Mazlan made the order after no one turned up during today’s hearing to show cause as to why the properties should not be seized by the government.

The forfeiture action was filed to freeze Larry’s seven bank accounts containing a total of over RM48.9 million in order to forfeit the funds that were alleged to be linked to money-laundering activities.

Deputy public prosecutor Aaron Chelliah told the court that a notice for third parties claiming to have an interest in the monies held in Larry’s bank accounts to contest the forfeiture was gazetted on June 17.

On March 29, the Malaysian government filed a forfeiture action against Larry, who is believed to be abroad and have since absconded.

https://sg.news.yahoo.com/high-court-allows-govt-seize-021155654.html

 


Category: Malaysia

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