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1MDB-scandal: Arrest warrant issued against Malaysian financier

Kuala Lumpur, Dec 5 (GCCurrentAffairs) Malaysian police on Wednesday said that the arrest warrant had been issued for a local financier, who was alleged to be at the center of the state investment company 1Malaysia Development Bhd (1MDB) scandal.

The Malaysian financier Low Taek Jho, or Jho Low, is wanted in connection for money laundering involving 4.2 billion ringgit (1.17 billion U.S. dollars), Malaysian police chief Mohamad Fuzi Harun said in a statement.

“The police commercial crime department had completed its investigation of 1MDB and handed the results to the Attorney-General on December 3,” he said.

“After reviewing the results, the decision was made to file criminal charges under the country’s anti-money laundering and anti-terrorism financing laws.”

Low were charged with four others who were also involved in 1MDB case.

Fuzi added that all suspects had fled the country and that he would seek the help of Interpol and other foreign authorities to have them extradited back to Malaysia to face charges.

In August, the police filed criminal charges against Low’s father over money allegedly stolen from the investment company.

The money laundering charges were brought against the duo in absentia.

A spokesperson for Low, through his attorneys, issued a statement on Tuesday in response to the filing of the latest charges, claiming Low’s innocence saying that he cannot get a fair trial in Malaysia.

Low was reported to be a key figure in handling 1MDB.

Via UNI-India

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