Report: Jho Low’s two New York condos to go on sale in US 1MDB forfeiture lawsuit
Debra Chong
Malay Mail30 May 2019
Bloomberg reported that both lawyers for Jho Low and the US government had asked a federal court in Los Angeles to let them list the two properties for sale as part of the US forfeiture lawsuits over 1MDB. — Picture via FacebookMore
KUALA LUMPUR, May 30 — Two high-end condominiums in New York City allegedly bought with money stolen from 1Malaysia Development Berhad (1MDB) by Penang-born fugitive Low Taek Jho are now for sale, Bloomberg reported today.
The business newswire reported that both lawyers for the wanted Malaysian popularly known as Jho Low and the US government had asked a federal court in Los Angeles to let them list the two properties for sale as part of the US forfeiture lawsuits over 1MDB.
The two New York properties were reported to be a Time Warner penthouse at 80 Columbus Circle that Low is said to have got in 2011 for US$31 million and another condo unit on 118 Greene Street he allegedly bought three years later for US$14 million.
Bloomberg said the proceeds from the sale of the two condo units have not been settled as Low continues to fight the forfeiture lawsuits.
Bloomberg also reported that both Low’s lawyers and US federal prosecutors are seeking to dispose another property in Los Angeles he also got for US$39 because the upkeep of the vacant mansion has become too pricey.
“Mr. Low is aware of two further successfully negotiated agreements with the US government.
“The owners of both the Greene Street property and the 80 Columbus Circle property have reached favourable agreements with the DOJ to initiate a sale of the properties,” a spokesman for Low said in an emailed statement through his US lawyers to media worldwide.
The DOJ stands for the US Department of Justice.
Low’s representative added that this ongoing collaboration is crucial in order to protect the value of the assets and the legal rights of the parties concerned.
He also took another swipe at the Malaysian government, describing similar recent moves to dispose of things said to be bought by Low with money stolen from the sovereign investment fund as “autocratic” and “illegal”.
Malaysia’s Attorney-General announced the sale of the super yacht once known as The Equanimity and said to have been bought by Low on April 3 for US$126 million to Genting Malaysia Berhad.
The ship has since been renamed The Tranquility and taken to Singapore
