US court tells Jho Low to surrender RM5.5m ‘flawless’ diamonds crafted by same jeweller who did Rosmah’s infamous pink necklace
(Malay Mail) – Fugitive financier Low Taek Jho has reportedly been ordered to forfeit a set of “flawless” diamonds he purchased for his mother from a jeweller known for designing pieces for celebrities like Beyoncé and Adele.
Business news site Bloomberg reported a federal judge in Los Angeles yesterday mandated the broker, also known as Jho Low, to relinquish claims to a 7.35-carat diamond ring and matching diamond earrings, both over 3 carats.
The judge reportedly determined these items were acquired through the misappropriation of billions of ringgit from the 1Malaysia Development Bhd (1MDB) sovereign fund.
The ring is valued at approximately US$1.17 million (RM5.5 million), while the earrings are worth about US$628,000 (RM2.9 million), according to United States authorities.
Bloomberg wrote that the diamonds were crafted by renowned New York-based designer Lorraine Schwartz — who, according to US prosecutors, also created a US$23 million (RM107.8 million) necklace with a large pink diamond ordered by Datin Seri Rosmah Mansor, the wife of former prime minister Datuk Seri Najib Razak.
US District Judge Dale Fischer described the diamonds as a gift from Low to his mother, Evelyn, and declared that the jewels were “criminal proceeds” from the 1MDB fraud.
Last month, the Malaysian government was reported saying it will continue to look for Low until he is found, despite a recent deal with the US Department of Justice (DoJ).
On June 26, the US DoJ announced on its website that it had reached an agreement with Low, his family members, and trust entities he had established to resolve two civil forfeiture cases, and that it will be recovering over US$100 million in 1MDB-linked money.
The civil forfeiture cases are on assets allegedly bought by Low and his family using money allegedly embezzled from 1MDB, while Low, his family members and the related trust entities have agreed to cooperate in transferring other assets in Hong Kong, Switzerland and Singapore that are linked to 1MDB funds to Malaysia.
In a related case, Bloomberg reported that former 1MDB lawyer Jasmine Loo was ordered on Monday to forfeit a Pablo Picasso pencil sketch titled “Trois Femmes Nues et Buste d’Homme,” which she bought for about US$1.4 million (RM6.6 million).
Loo had recently testified as the 50th prosecution witness in Najib’s trial over the misappropriation of 1MDB’s RM2.27 billion.
