The wanted businessman says the latest deal to sell a mansion he bought in LA is unlike 'illegal' actions by other countries.
PETALING JAYA: Runaway businessman Low Taek Jho has welcomed the latest deal between US authorities and his representatives to sell a mansion in California’s trendy Sunset Strip, which has been linked to money siphoned off from 1MDB.
A spokesman for Low said the businessman, who is wanted by Malaysia over his role in the 1MDB scandal, is aware of the negotiations, describing it a “mutual effort to preserve the property’s value while ensuring the owners’ claims are protected”. “These negotiated agreements stand in stark contrast to the politically motivated actions of certain regimes, which not only illegally seized assets and destroyed their value but have also shown a consistent disregard for the rule of law, democratic values and basic human rights,” it said in a statement, believed to be referring to Malaysia’s recent sale of the luxury yatch Equanimity for half its original value to Genting Berhad.
Low, better known as Jho Low, had bought the US$39 million mansion in Los Angeles in 2012 with money allegedly stolen from 1MDB’s investment fund. It is reportedly in a state of disrepair, and costing the US authorities some US$690,000 annually in taxes, insurance and maintenance.It comes a day after the US announced that it would return hundreds of millions of dollars to Malaysia following the sale of other assets linked to the 1MDB scandal, including US$140 from the sale of the Park Lane hotel in New York.
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