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US$1.7 million in jewellery purchased by disgraced businessman Jho Low has been forfeited to the authorities.
US$1.7 million in jewellery purchased by disgraced businessman Jho Low has been forfeited to the authorities.

More Jho Low jewellery handed over

The mother of disgraced Malaysian businessman Jho Low has handed over jewellery valued at US$1.7 million to government officials, as legal proceedings continue against her son.

Low commissioned US celebrity jeweller Lorraine Schwartz to design the pieces – a pair of diamond earrings and a matching 7.53-carat ring – back in 2012. He is alleged to have paid for the jewellery using money embezzled from the 1Malaysia Development Berhad (1MDB) fund, though according to the terms of the agreement, the returning of the jewellery cannot be considered an admission of guilt.

During the police investigation in 2017, Australian supermodel Miranda Kerr was forced to return US$8 million in jewellery to the authorities; the pieces had been gifted to her by Low. Authorities have also seized a mansion and US$250 million superyacht from the Low family.

The 1MDB scandal involves billions in misappropriated funds, with former Malaysian Prime Minister Najib Razak currently facing trial for his role in the affair. Low has been charged with money laundering, but has consistently denied any wrongdoing and remains at large.

 

More reading:
Miranda Kerr jewellery thrust into billion-dollar political scam











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Friday, 23 August, 2019 07:57am
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