KUALA LUMPUR, Oct 8 — Fugitive financier Jho Low leveraged his connections with China’s political elite to secure investments from Chinese entities in an effort to bail out...
Jho Low ’s grand scheme: Fugitive financier tapped into his personal relationships with China ’s elite to bail out 1MDB , new book reveals
“The deals Low was putting together with Chinese entities, with blessing, helped register foreign direct investment flows and turned Malaysia into the most favoured destination for mainland Chinese businesses,” writes Lopez. “Malaysia awarded government infrastructure projects to Chinese concerns at bloated valuations,” the book alleges, adding that these projects were funded by Chinese state-owned banks on terms that gave Malaysia up to 80 per cent of the funding upfront, which helped manage 1MDB’s financial woes.
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