Jho Low's lingerie office in London to be sold

 

LOS ANGELES (Oct 24): The fugitive Low Taek Jho, or Jho Low's office for his luxury lingerie company is to be sold, as part of forfeiture lawsuits related to recovering money misappropriated from the 1Malaysia Development Bhd (1MDB) investment fund.

Bloomberg reports that Jho Low is currently fighting U.S. claims that the property is one of many acquired with money stolen from the 1MDB fund.

The office was reportedly bought for 42 million pounds (RM227 million) in 2014, and a nearby penthouse and apartment were also acquired by Jho Low in 2010. Located on Stratton Street in the upscale Mayfair neighborhood, the properties are all to be sold as part of forfeiture lawsuits federal prosecutors in Los Angeles brought against the properties in 2017. 

Citing ourt filings on Wednesday, the news agency reports that proceeds of the sale are to replace the real-estate assets as the litigation continues.

The office in Stratton was used by lingerie company Myla, which had been allegedly acquired by Low using funds misappropriated from 1MDB. 

The report cites a 2014 email Low sent from his Myla account. In the email to a Red Granite Pictures (founded by Riza Aziz, Najib Razak's stepson) representative, he introduces Myla executives, and said to follow up on “any opportunities for Myla in the movie space.”