news

Prosecution to amend forfeiture notice against Jho Low's father on RM49m

KUALA LUMPUR (Dec 15): The prosecution in the forfeiture case on Tan Sri Larry Low Hock Peng (pictured), father of missing businessman Jho Low, told the High Court that they intend to amend the notice of motion to forfeit close to RM49 million cash assets he held in seven bank accounts nationwide.

Deputy public prosecutor Syafinas Shabudin informed Justice Mohamed Zaini Mazlan that the amendments had to be made as the prosecution had just noticed that there was repetition in the first paragraph of the notice, while the information of the branches where the bank accounts were located were never inserted in the application.

“Till today Hock Peng has not appointed any counsel to appear for him for this case. I hope the court will grant the short adjournment until next month for the prosecution to make the amendments to the notice for it to be gazetted.

“After it is gazetted, then we would again invite whether there are third party claimants to these assets,” she told the court.

As such, Justice Zaini fixed Jan 22 for the prosecution to come back to his court.

Hock Peng, along with his wife Puan Sri Goh Gaik Ewe, have left Malaysia since the change of government in May 2018.

It is understood that the amendments to the bank accounts are to include the KLCC RHB branch here and Maybank Plaza MWE branch in Penang.

It was reported that the elder Low had kept the funds in seven current and fixed deposit accounts which are now subject to the forfeiture proceedings since Jho Low, whose full name is Low Taek Jho, is implicated in the 1Malaysia Development Bhd scandal.

“We believe that the monies were transferred from foreign companies... by Jho Low," a source told theedgemarkets.com on condition of anonymity last year.

The government made the application for civil forfeiture under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which allows the government to forfeit a property without a prosecution.

Media reports in January said police are looking for Hock Peng and his wife Goh since 2018.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. SRC appeal: Defence's BlackBerry Messenger evidence incriminates Najib, says prosecution
  2. Hearing of Najib's bid to get Goldman Sachs documents, items fixed for May 31
  3. High Court sets May 5 for case management of IRB's RM68m tax arrears suit against Jho Low's right-hand man 'Fat Eric'