Jho Low: S’pore’ 1MDB-linked probe politically motivated

(Berita Daily) – Low Taek Jho, the businessman linked to alleged misappropriation of funds from 1Malaysia Development Berhad (1MDB), has taken the Singapore authorities to task for allegedly going on a political witch-hunt in their money laundering probe.

“Any attempts to link Mr Low to the recent guilty pleas by parties allegedly making secret profits are based on unfounded assumptions,” said Low’s spokesperson in a statement.

“This is an example of overreach with a politically motivated and selectively chosen narrative alleging 1MDB as a “victim”, when it has been clearly stated by the Malaysian authorities that there has been no evidence of any misappropriation of 1MDB funds.

“No wrongdoing has been proved in any jurisdiction relating to the alleged misappropriation of 1MDB funds, and this development in Singapore does not change that.

“Mr Low is confident that any impartial party presented with the complete facts will see that the allegations are flawed, biased and create an inaccurate picture,” the statement said.

Low’s scathing accusation against Singapore came after former BSI Singapore banker Yeo Jiawei, 34, was sentenced to four and a half years in prison for cheating and money-laundering activities related to 1MDB.

Yeo was found guilty of transferring US$1 billion from 1MDB into a bank account owned by Low.

During the trial Yeo referred to Low as ‘boss’. The prosecution team also stated that Low is a key person of interest in the probe into money laundering.