KUALA LUMPUR – The High Court has allowed the government to seize RM48 million from Tan Sri Larry Low Hock Peng, the father of fugitive businessman Low Taek Jho who is better known as Jho Low.
Larry however, did not attend the proceeding today despite having arrest warrant issued on him.
High Court Judge Mohamed Zaini Mazlan made the ruling in favour of the application from Deputy Public Prosecutor Aaron Chelliah after no third party turned up to contest the forfeiture of RM48,979,500.67 belonging to Larry.
On 19 April, the court has given a notice inviting third parties to show cause why the properties should not be forfeited to the government, after Chelliah filed a motion for notice to be gazetted under Section 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“The RM48,979,500.67 came from the RHB account in KLCC and Maybank in Penang.
“The seizure does not include other belongings such as Jho Low’s family bungalow in Penang,” Chelliah said when met by the reporters.
Larry, who stays under the limelight unlike his son came into the picture when the Royal Malaysia Police issued a red notice to the Interpol to track both of them down.
The duo is faced with nine charges over their involvement in the high-profile 1Malaysia Development Berhad (1MDB) scandal.
Larry is a successful and well-known businessman in Malaysia and Singapore.
He is also the founder of Frenchken Group Limited in 1995 which operates in Europe, Asia and the United States of America.
The Low family inherited their wealth from Larry’s father, Low Meng Tak who was born in Guangdong, China in 1922. The late Meng Tack ventured into various business activities such as iron mining and alcohol distilleries in China and Thailand. -MalaysiaGazettte