Global Financier Relocates.....18 Aug 2015
Sarawak Report has now reliably established that the global financier, self-styled philanthropist and international party lover, Malaysia’s Taek Jho Low, has relocated to Taiwan.
The news is likely to provoke considerable dismay amongst the Crystal-drinking Las Vegas nightclub set and trendy Hollywood pals like Leonardo di Caprio.
However, those in the know confirm he has become rooted in the island state and appears to have jettisoned his previous Hong Kong base and hyper-active travel schedules for several weeks.
We also understand that Mr Low’s motivation for curtailing his formerly febrile jet-setting habits and sticking unflinchingly to terra firma these days in Taipei, owes to the republic’s reputation as an extradition blackspot.
US Citizen – two passports!
In particular, Taiwan is untouched by the jurisdiction of the United States, with which it has not had diplomatic relations since 1979.
This is significant, because Sarawak Report can now definitively reveal that Jho Low has not just one American passport, but two.
The numbers of these passports are A10690483 and A19877008. Neither of course are legal for a Malaysian to possess, owing to the country’s strict citizen laws.
Under US law Jho Low can possess two passports. However, as he is now an American citizen he is also subject to American laws, particularly with respect to money laundering proceeds of corruption through the US financial system.
Wanted – sort of….Several bodies of investigators from different jurisdictions have recently started to indicate that they would be extremely pleased to talk with Mr Low, as they believe he could help them with their enquiries with respect to a number of lines of investigation into the missing millions from Malaysia’s development fund 1MDB.
Jho Low was the link man for the initial 1MDB PetroSaudi joint venture, for example, which was something he initially sought to adamantly deny.
He was also the link man with Abu Dhabi fund Aabar with which he conducted a number of private deals at the same time that Aabar was doing very well indeed out of its entirely passive role as an advertised parter of 1MDB on several of its big investments.
The Malaysian Anti-Corruption Commission has signalled its interest in speaking to Mr Low on these matters, as has the Parliamentary Accounts Committee (presently suspended owing to the actions of the Prime Minister).
|Safe in Malaysia?|
On the other hand, of course, Malaysia’s Inspector General of Police has yet to do anything so uncouth as to rush into court and execute an arrest warrant for Mr Low, let alone attempt to place him on Interpol’s Red Alert list for people wanted for enormous crimes, such as the stealing of billions of dollars of public money.
Malaysia’s IGP has restricted such actions merely to outfits like Sarawak Report, who provided the initial details into the missing money and sparked all these pesky investigations, which he and Najib are now doing their best to close down.
In fact, after the recent clamp downs by Najib and the new concept being promoted by his new ministers that the PM and his friends should be considered to be above the law, might not Malaysia turn out to be Jho Low’s safest haven?
Apparently not, in Jho Low’s estimation.
It is understood that the Penang born multi-billionaire feels nervous that the rest of the population might feel less charitable towards him as the evidence of their missing billions escalates, taxes rise and the ringgit plummets. He seems settled in Taipei.
Off-shore accountsOf particular concern to Jho Low will be the fate of his off-shore money and foreign accounts.
|Brushstroke by Roy Lichtenstein…. worth around a million bucks|
The relevant authorities have reported that they believe that the contents of these accounts may represent the proceeds of corruption.
It will plainly be extremely sad and dull for the jet-setting Mr Low to have to clip his wings like this and remain doggedly in Taiwan for the coming future. However, despite such potential financial woes, he appears to have continued spending for his friends and foundations over the past months of scrutiny.
At San Tropez last month his money still flowed sufficiently from afar to supply a fabulously expensive Lichtenstein sculpture for a fancy eco-charity auction run by his fellow philanthropist cum hard party buddy Leonardo Di Caprio.
“Leonardo Dicaprio’s Foundation Gala raised USD40mil that will go towards protecting biodiversity, ocean and forest conservation and mitigating climate change” explained the publicity (too bad about the Borneo Jungle).Low has also been pouring money into the UN, which has stood by its right to accept millions from this generous funder of its programmes for training journalists:
” The recently announced partnership with the Jynwel Foundation will help the UN Foundation contribute to what has been called “the biggest communications challenge and opportunity of our generation” – the urgent need to create an environment that will help the world achieve success on the most ambitious anti-poverty agenda in history. The new “global goals” – often referred to as the Sustainable Development Goals — will be the most comprehensive plan in history to fight poverty and create prosperity while protecting the planet. With the support of the Jynwel Foundation and other partners, the UN Foundation will be able to encourage a global discussion around the goals through increased level of media reporting, capacity building and training for journalists” [UN Foundation Spokesman statement to Sarawak Report]It is ironic that the journalists whom Jho Low’s money will help to train would get short shrift in his native Malaysia, should they dare to tackle such matters as corruption in high places.
It is also of growing concern that this money for “tackling poverty” via the UN’s media programme is currently being investigated in relation to a massive plunder from Malaysia’s own development fund. We have tried warning the UN and indeed other recipients of Jho Low’s largesse, but they have not been listening have they! - SARAWAK REPORT
This latest report is certainly a positive development for Malaysia and our Malaysian authorities who have been hunting high and low for Jho Low.
Certainly the details provided by SarawakReport could shed greater light into the whereabouts of one of top three guys on Malaysia's current WANTED list pertaining to the ongoing investigation into the multibillion ringgit 1MDB related scandals.
The other two WANTED individuals are Nik Faisal Ariff Kamil (centre) and Datuk Suboh Mohd Yassin.
All three are required to assist in providing information on the transfer of funds from a former 1MDB subsidiary – SRC International Sdn Bhd – which is now a unit directly under the Finance Ministry.
(SRC had borrowed RM4 billion from the the public retirement fund Kumpulan Wang Persaraan (KWAP) in 2011.)Suboh and Nik Faizal are shareholders of Gandingan Mentari Sdn Bhd, one of the two companies used as a conduit to transfer accounts from SRC to a private bank account in AmBank.- TheSun
Since the MACC have resumed their investigations, after a minor hiccup following a now suspended police investigations and another revoked transfer order on investigators, the graft busters could now make the necessary legal preparations to extradite Jho Low or dispatch MACC officers to Taiwan to interrogate him.
By the way, don't we already know where the other two fugitives are?
It must be emphasised here that there is a need to update the Malaysian public on this particular case on a regular basis due to the sheer size of public funds involved in the scandal plus the fact that there has been obvious attempts to scuttle this investigations.
To recap SRC International took a massive RM4 billion loan from Retirement Fund Incorporated or Kumpulan Wang Persaraan (KWAP) and the loan is guaranteed by the Government of Malaysia. So this is not merely a matter confined to your kitchen cabinet.
Public perception is that there have been repeated attempts to sabotage investigations into SRC because Prime Minister Najib Bin Tun Abdul Razak is directly implicated in the case. Nik Faisal's link to Najib and his role in the scandal cannot possibly be covered even with the biggest of the big leaves.
The suspicious removal of previous Attorney General Tan Sri Gani Patail who was heading a Task Force investigating SRC International and the subsequent disbanding of the Task Force itself have only lend credence to the notion that there is indeed a conspiracy to protect those involved in this financial scandal.
Malaysians, and I'm sure the international community too, are watching this 1MDB scandal and all other related cases very closely.
The interest in this case is much greater now after news broke out of the RM2.6billion anonymous donation received by Najib Razak. Pundits are predicting that the Malaysian Prime Minister could be making his way into the Guiness Book of World Records under the 'largest donation receipient' category.
1MDB/PetroSaudi/SRC is certainly not a curi ayam case in some remote village in the interiors of Pekan where you could pay a few dollars more to settle a minor crime.
Naturally those involved in any crime would be very worried, especially now since even the Americans have started their probe into suspected money laundering. The Monetary Authority of Singapore and the Singapore Police are also into similar investigations, I was told.
Truth shall prevail. It's just a matter of time.