Malaysian fugitive Jho Low and father sentenced to jail for contempt of court
KUALA LUMPUR - The Kuala Lumpur High Court has sentenced fugitive businessman Low Taek Jho and his father Larry Low to jail for contempt of court.
The duo were found guilty of not abiding by a restraining order, which barred them from disposing of more than US$1.4 billion (S$2 billion) in assets before the 1Malaysia Development Bhd (1MDB) trial concludes.
Both Taek Jho, commonly known as Jho Low, and his father were absent during the open-court proceeding on Monday. They were not represented by lawyers.
Earlier in March, 1MDB and its subsidiary, Global Diversified Investment Company, obtained the Mareva injunction, a temporary order which restrains Jho Low and his father from disposing of their assets, which are said to be siphoned off from 1MDB.
The injunction also capped the Lows’ living and legal expenses to RM20,000 (S$6,047) a month each.
In May, the High Court dismissed Low’s application to set aside the injunction order.
In August, 1MDB initiated contempt proceedings against the Lows when they failed to respond to the injunction order. THE STAR/ASIA NEWS NETWORK