Crime & Courts

1MDB amends suit to claim US$3.78 billion from Jho Low

The amended writ and statement of claim also added Jho Low's mother Goh Gaik Ewe and brother Low Taek Szen as the additional defendants.

The sovereign state fund in its initial suit sought to recover US$1.404 billion from Jho Low, his father Tan Sri Larry Low Hock Peng, sister Low May Lin, and his associate Tan Kim Loong.

The plaintiffs in the suit were - 1MDB, 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited, and Global Diversified Investment Company Limited (Formerly known as 1MDB Global Investment Limited or 1MDB GIL).

According to the amended writ, the first plaintiff (1MDB) is seeking US$660.75 million from Jho Low alone instead of US$1.03 billion as stated in their initial writ.

The plaintiffs are seeking US$2.136 billion from both Jho Low and Kim Loong, and US$

324.75 million from Jho Low and his father Hock Peng.

1MDB GIL is seeking another US$ 629.9 million from Hock Peng, Jho Low and Kim Loong as well as US$ 27.5 million from Taek Szen, Jho Low, and Kim Loong.

The plaintiffs are also seeking US$ US$3.5 million from both May Lin and Jho Low, and US$ 1.695 million from Gaik Ewe, Jho Low, and Kim Loong over the purchase of jewellery and secret profits.

In their statement of claim, the plaintiffs alleged that the defendants were involved in multiple frauds during the reign of Barisan Nasional led by Datuk Seri Najib Razak as the federal government.

It said the plaintiffs were manipulated by a group of individuals including Najib who is the prime minister and Finance Minister himself and Jho Low to facilitate a large-scale and long-term fraud.

"In effecting the said fraud, multiple breaches of trust and/or fiduciary duties were committed by Najib, members of the board of directors and senior management of the Plaintiffs.

"The funds and assets of the plaintiffs which were transferred to the defendants as described herein were misappropriated, with the knowledge of the defendants, in breach of trust and/or fiduciary duty.

"This resulted in billions of ringgit being fraudulently misappropriated and diverted into privately controlled accounts for the benefit of various fraudsters including the defendants," the statement said.

The plaintiffs also alleged Najib had abused his power and position to protect himself and his associates by obstructing and hindering efforts to properly investigate and unearth evidence relating to the fraud and wrongdoings.

The court fixed Aug 12 for next case management.

On May 10, the Finance Ministry in a statement said a combined total of 22 civil suits had been filed by 1MDB and its former subsidiary SRC International Sdn. Bhd. against various parties to recover RM96.6 billion in assets.

The ministry said the suits were filed as an effort by both entities to recover their assets with a combined total in excess of RM96.6 billion including approximately RM300 million against various local parties.

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