KUALA LUMPUR: A total of RM93.2 million ringgit worth of assets are expected to be seized in the investigation against Former 1Malaysia Development Bhd (1MDB) general counsel Jasmine Loo Ai Swan.
Deputy Inspector-General of Police (DIGP), Datuk Seri Ayob Khan Mydin Pitchay said this in a statement made at Bukit Aman earlier today.
"The worth of the assets are valued at the time of purchase in 2013, so we expect the amount to be higher today."
Ayob Khan said Loo confirmed ownership of her assets and properties in the United States, Switzerland and Singapore.
He added the process of acquiring some assets and properties are still ongoing in the United States and United Kingdom.
When asked, police did not divulge the total amount seized so far.
Ayob Khan also said investigations had found that Loo had received a monthly paycheck of RM40,000 from 1MDB since May 2011.
"Our investigations show Loo is the owner of the company River Dee International SA registered in the British Virgin Islands.
"The company runs a real estate business and opened a Falcon Private Bank account with Jho Low in November 2012."
Through River Dee International SA, Ayob Khan noted that Loo has received five transactions from several entities and companies totaling USD16,074,975 (RM74,829,008)
The use of the funds are reported to be for the following — (i)Purchase of (1) real estate lot in New York worth USD4,610,000; (ii) Purchase of (1) real estate lot in London worth USD2,792,282; (iii) Investments in the United States; and (iv) USD 5 million has been frozen by the Department of Justice (DOJ).
*Raid in Bukit Damansara*
On 17 July 2023, police inspected a condominium in Bukit Damansara identified as the location where Loo kept some assets obtained from the 1MDB funds.
A total of RM625,500 worth of assets were seized at the premises which include branded watches, jewellery and miscellaneous documents.
All the assets above are now all in the custody of Bukit Aman's Commercial Crime Investigation Department (CCID).
*Overseas assets*
Identified assets in Singapore that Loo identified include:
- An account at Credit Suisse AG, Singapore owned by the company HeartLand Global Ltd, balance SGD4 million (RM13,757,600).- An account at BSI Bank, Singapore owned Springbrook Global company, balance not yet identified.
- Two condominium units.
A Statutory Declaration (SD) has been signed on August 23, 2023 for Loo to return the Singapore assets to 1MDB.
The relevant SD has been handed over to the parties Commercial Crime Affairs Department (CAD) Singapore on 30 August 2023.
Meanwhile, the assets in the United States include a condominium worth RM21,408,840, nine paintings worth RM8,112,533 (1 painting kept in Switzerland while the other 8 in New York — two of which are artworks by Pablo Picasso) and RM23,220,000 worth of funds in a bank account.
The asset in United Kingdom (London) include a condominium worth RM12,967,361.
Other items include luxury watches, jewellery and handbags.