Friday, October 23, 2020

China denies providing refuge to fugitive businessman Jho Low involved in 1MDB scandal

-

China denied Thursday it was harboring a fugitive financier wanted over the massive 1MDB corruption scandal after Malaysian police said he was hiding in Macau.

Low Taek Jho, commonly known as Jho Low, is accused of being the mastermind behind a fraud that saw billions of dollars looted from sovereign wealth fund 1Malaysia Development Berhad.

The money was used to buy everything from a superyacht to art in a scam that also involved former Malaysian premier Najib Razak, who was convicted in his first 1MDB-linked trial this week.

Malaysian police chief Abdul Hamid Bador said Wednesday that Low was in the semi-autonomous casino hub of Macau. He has previously been rumored to be in various locations across the world, from the United Arab Emirates to China.

- Advertisement -

However, a Chinese embassy spokesperson called the claim “groundless and unacceptable”, saying the country would never “shelter foreign criminals”.

“The Chinese police have followed and investigated meticulously each and every relevant clue we have received from the Malaysian police,” the spokesperson said in a statement.

“Unfortunately, no relevant individuals have been found and the Malaysian side has been informed accordingly.”

Low, who held no official position at 1MDB but was believed to wield enormous influence over its operations, has been charged in both Malaysia and the United States over the controversy.

- Advertisement -

He denies wrongdoing.

Najib’s lawyers accused Low of having tricked the ex-leader, although this claim was rejected by a judge when he found him guilty this week.

The former premier was sentenced Tuesday to 12 years in jail and fined almost $50 million on corruption charges relating to the scandal, which led to his government’s downfall in 2018.

Najib is currently facing two other trials over the controversy.

MUST READ

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...
Advertisement
Advertisement

Latest News

This Week

Guatemala seeks arrest of ex-minister linked to a $16m cash discovery

Guatemalan prosecutors are seeking the arrest of the former communications minister for ex-President Jimmy Morales on money laundering charges after finding a connection to...

Attorney General Dave Yost subpoenaed in Ohio bribery scandal

Federal officials investigating the House Bill 6 bribery scandal subpoenaed records from Attorney General Dave Yost’s office the day before arresting then-House Speaker Larry Householder and...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Newark city councilman charged in bribery and kickback scheme

Joseph A. McCallum Jr., a city councilman in Newark's West Ward, has been accused of taking part in a "bribery and kickback" scheme involving...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks