Jho Low, parents enter appearance in 1MDB suit

 

Case management in 1MDB’s suit against Low Hock Peng (left), his wife Goh Gaik Ewe and their son Jho Low has been set for Feb 9.

KUALA LUMPUR: Wanted businessman Low Taek Jho, or Jho Low, and his parents, Larry Low Hock Peng and Goh Gaik Ewe, have entered appearance in the US$3.78 billion (RM15.85 billion) suit filed by 1MDB against them.

The appearance was entered by law firm Messrs Valen, Oh & Partners representing the three defendants on Dec 29 last year.

Lawyer K Siva Kumar, who represented 1MDB, said the court had ordered Jho Low and his parents to file a statement of defence on or before Jan 26, besides setting Feb 9 for case management.

“However, the other three defendants, namely Jho Low’s sister May Lin, his younger brother Taek Szen, and his associate Eric Tan, have yet to enter an appearance in the suit,” the lawyer said after the case management was carried out online before deputy High Court registrar Nor Afidah Idris today.

On May 7, 1MDB and its four subsidiaries 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd, formerly known as 1MDB Global Investments Ltd, had filed a suit against the six defendants.

Based on the writ, 1MDB is claiming US$661 million (RM2.77 billion) from Jho Low and US$41 million (RM171.9 million), US$397 million (RM1.66 billion), US$608 million (RM2.55 billion) and US$1.9 billion (RM7.97 billion) from Jho Low and Tan respectively as well as US$325 million (RM1.36 billion) from Jho Low and his father.

1MDB Global Investments Ltd is also seeking US$630 million (RM2.64 billion) from Hock Peng, Jho Low and Tan, and US$2 million (RM8.38 million) from Taek Szen, Jho Low and Tan.

The plaintiffs are also seeking US$3.5 million (RM14.67 million) from May Lin and Jho Low and US$1.695 million (RM7.1 million) from Goh, Jho Low and Tan in connection with the purchase of jewellery and secret profits apart from claiming US$25.5 million (RM106.86 million) from Jho Low, Tan, Hock Peng and Taek Szen.

Based on the statement of claim, all the plaintiffs claimed that they were manipulated by a group of individuals, including former prime minister Najib Razak and Jho Low, to facilitate a large-scale and long-term fraud which resulted in billions of ringgit being fraudulently misappropriated into privately controlled accounts for the benefit of various fraudsters, including the defendants.

“In carrying out the fraud, multiple breaches of trust and/or fiduciary duties were committed by Najib, members of the board of directors and senior management of the plaintiffs.

“The funds and assets of the plaintiffs which were transferred to the defendants were misappropriated, with the knowledge of the defendants, in breach of trust and fiduciary duty,” said all the plaintiffs.

They also claimed that Najib had abused his power and position to protect himself and cover up the fraud against the plaintiffs, among others by obstructing efforts to investigate and uncover evidence related to fraud and misconduct against the plaintiffs in Malaysia. - FMT