The Kuala Lumpur High Court issued a court order compelling the sister of Malaysian financier Low Taek Jho, known as Jho Low, and an associate, to remit 11.58 billion ringgit (approximately US$2.8 billion) to 1Malaysia Development Bhd (1MDB). The court found that the misappropriated funds constitute “tainted proceeds.” Justice Mahazan Mat Taib determined that the defendant is in default and must fulfill the judgment. The court’s decision follows a finding that 1MDB has decisively suffered losses due to the illicit financial activities. The order mandates the payment as a remedy for the alleged misappropriation.
Credits: News – South China Morning Post
