Malaysia charges financier, and Interpol issues a Red Notice, relating to 1MDB money laundering
Kuala Lumpur — Malaysia has charged fugitive financier Jho Low with money laundering and said it’s seeking Interpol’s help to locate and arrest him, tightening the net around a central figure behind the alleged embezzlement of funds from state investment company 1Malaysia Development Bhd (1MDB). Low took part in laundering "proceeds of unlawful activity" when he received about $262m, and transferred about €41m and $141m, charge sheets showed. His father — Low Hock Peng — was charged with transferring more than $56m to him. The transactions took place between December 2013 and June 2014. Low faces eight counts of money laundering while his father has one. Each carries a maximum fine of 5-million ringgit ($1.2m), a jail term of as long as five years, or both. They were charged in absentia and their whereabouts aren’t publicly known. "Warrants of arrest for both of them were issued by the court," commercial crime investigation department director Amar Singh said in a text message. The ...
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