KUALA LUMPUR, July 19 (NNN-BERNAMA) — The more than RM48 million confiscated from seven bank accounts belonging to Tan Sri Larry Low Hock Peng, the father of businessman on the run, Low Taek Jho or Jho Low, a central figure in the investigations into the 1Malaysia Development Bhd, is now the asset of the Malaysian Government.
This follows High Court judge Mohamed Zaini Mazlan’s order that the money be forfeited to the federal government with no one turning up at today’s hearing to show cause as to why the properties should not be seized by the government.
Deputy Public Prosecutor Aaron Abilash Paul Chelliah in making the application informed the court that no third party was at the court to claim the RM48,979,500.67 in question.
No counsel also turned up at the court to represent the respondent, Larry Low.
“A notice had been issued on June 17, 2019 to the said third party to be in court on July 19 to state any interest or claims in the assets,” the DPP said.
As there was no third party at the court to stake a claim on the assets, the public prosecution made the application for the full forfeiture of the assets to the Malaysian government, he said.
–NNN-BERNAMA