(AFP) – A fugitive financier accused of involvement in a massive corruption scandal in Malaysia in which top officials looted billions from state fund 1MDB has sought a pardon from US President Donald Trump. Businessman Low Taek Jho, better known as Jho Low, is formally seeking a “pardon after completion of sentence,” according to the US Department of Justice website.
Whistleblowers allege that Jho Low, a well-connected Malaysian financier with no official role, helped set up the 1MDB state investment fund and made key financial decisions before disappearing about a decade ago. Low, who has been indicted in the United States, has denied wrongdoing but remains at large.
Malaysia’s Trade Minister Johari Abdul Ghani, who chairs a task force seeking to recover assets linked to 1MDB worldwide, said the plea should be rejected and Low returned for trial. Granting a pardon to the businessman is “the right of the US, but personally I think (the) US should help to bring back Jho Low to Malaysia,” he told AFP via text message.
The 1MDB fund was launched by former prime minister Najib Razak in 2009, shortly after he became prime minister. It is alleged that more than $4.5 billion was diverted from 1MDB between 2009 and 2015 by fund officials and associates, including Low. Najib, who has been convicted in multiple cases, has been jailed and fined $2.8 billion for his role in the plunder. Najib’s defence lawyers blamed Low and dubbed him the mastermind of the scheme.
Malaysia unsuccessfully sought the return of Low through extradition, and it was widely speculated in media that he was hiding in China. Trump was scheduled to arrive in China on Wednesday to meet with Chinese counterpart Xi Jinping.
The scandal shook Malaysian politics, contributing to the 2018 downfall of the ruling coalition that had governed since independence in 1957, and led to the convictions of two former Goldman Sachs bankers. Investigators said top officials used their ill-gotten gains to splurge on assets worldwide, including a luxury yacht, high-end real estate, Monet as well as Van Gogh paintings and even to fund the Hollywood blockbuster “The Wolf of Wall Street.” Actor Leonardo DiCaprio testified in court about Low’s wild spending sprees and lavish parties.
The globe-spanning scandal also ensnared Pras Michel, a rapper in rap trio the Fugees, who was found guilty of helping Low funnel money from 1MDB into US politics.
© 2024 AFP
