by S BIRRUNTHA / pic TMR FILE
JOURNALIST Tom Wright has revealed that Malaysian fugitive financier Low Taek Jho, or Jho Low (picture), has a stake in funds worth US$333 million or RM1.6 billion.
According to Tom, the ownership of the fund is done through a British Virgin Islands (BVI) company that has an office in the iconic global financial centre, namely Shanghai World Financial Centre.
In fact, he said, document records show that Jho Low, who is a wanted individual for the 1Malaysia Development Bhd (1MDB) fund embezzlement case, is said to have an office in the financial centre.
“Jho Low is hardly hiding! “Grace Zenith” a Low-controlled BVI with $333 million in subscribed capital, has an office at Room 2801-01, 28th Floor, Shanghai World Financial Center, documents show,” he said in a tweet today (Oct 14).
In a series of tweets, Tom also shared documents related to the ownership of the fund in addition to the company being owned by Jho Low.
He added that Jho Low’s company from China called Guiyue Business Consulting Co. and 100% owned by Grace Zenith.
“Malaysians! As Jho Low works out of the Shanghai World Financial Centre, with 100s of millions of $$$ of your money, what are your leaders doing to get him back?
“Nothing, according to a Chinese govt source. Too many are implicated,” he said.
Recently, Tom and his fellow journalists who investigated the 1MDB scandal revealed that the amount of funds embezzled from 1MDB funds was estimated to be worth US$8.5 billion or RM38.8 billion.
Meanwhile, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz last March informed that the government still needs to fulfil the funding requirements of RM17 billion to pay off the remaining principal and interest of 1MDB’s debt of RM38.8 billion for the period 2023 to 2039.
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