CEO Morning Brief

Cyprus Cabinet Revokes Jho Low's Citizenship and Passport — Report

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Publish date: Fri, 07 Jun 2024, 10:40 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 6): Fugitive Low Taek Jho, better known as Jho Low, who has been on the run due to the controversial 1Malaysia Development Bhd (1MDB) scandal for years, has failed in his effort to appeal against the Cyprus government’s decision to revoke his Cypriot citizenship and passport, according to local newspaper Cyprus Mail.

Citing a government source, Cyprus Mail reported that the independent committee dismissed Low's appeal on May 17. And that had led to the interior minister to present the matter at Wednesday’s cabinet session, which subsequently resulted in the revocation order.

The Cyprus cabinet decided to revoke Low’s Cypriot citizenship and passport last year. The independent committee was formed to re-examine the case after Low filed an appeal, according to the Cyprus Mail.

To recap, Low was granted Cypriot citizenship in 2015 through the island’s citizenship-by-investment programme, also known as the “golden passport” scheme.

Despite being flagged as high-risk, local mediators filed an application on his behalf and in June of that year, Low transferred close to €6 million (RM30.7 million) into an account at the Bank of Cyprus.

Low reportedly purchased a seaside mansion in Ayia Napa for €5 million and obtained citizenship within a couple of days.

Furthermore, Low donated around €310,000 to the late ex-Archbishop Chrysostomos, who advocated on his behalf to the interior ministry.

Low is said to be the architect behind the 1MDB scandal, and was described by the late senior deputy public prosecutor and former Federal Court judge Datuk Seri Gopal Sri Ram as former prime minister Datuk Seri Najib Razak’s alter ego.

He is one of the individuals who remain on the run. Low was one of the first among them to leave the country and has not returned to Malaysia since.

The others are Casey Tang Keng Chee, former director of 1MDB; Terence Geh Choh Heng, then 1MDB director of finance; and Eric Tan Kim Loong.

A graduate of the Wharton School at the University of Pennsylvania, Low leveraged his influential contacts in the Middle East, including Saudi Arabia.

In 2022, US law firm Kobre & Kim, which was representing Low, negotiated with then attorney general Tan Sri Idrus Harun to repatriate siphoned monies from 1MDB.

Subsequently, Idrus said Low was seeking to resolve, settle and annul his criminal charges with the Malaysian government but that the Attorney General’s Chambers had rejected all offers.

Last year, Prime Minister Datuk Seri Anwar Ibrahim confirmed that negotiations were ongoing to bring Jho Low back to Malaysia to face the music, but there have been no updates since and he remains at large.

Source: TheEdge - 7 Jun 2024

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