Report: Jho Low on the run, but still involved in HK companies

Report: Jho Low on the run, but still involved in HK companies

SCMP reports that he signed two documents on July 9 to change the company secretary of two organisations, while his brother applied to have the names of the companies changed.

Free Malaysia Today
Jho Low is accused of corruption, bribery and money laundering in connection with the 1MDB financial scandal. (Bloomberg pic)
PETALING JAYA:
Businessman Low Taek Jho may be on the run from authorities looking to arrest him in connection with the 1MDB scandal, but he has also been “actively involved” in the affairs of two Hong Kong-based companies of which he is CEO and director, The South China Morning Post (SCMP) reports.

According to SCMP, Low is listed as the CEO of private equity firm Jynwel Capital and the director of non-profit group Jynwel Charitable Foundation.

Citing documents from Hong Kong’s Companies Registry, the report said Low, better known as Jho Low, signed two documents on July 9 to change the company secretary of both companies.

It was originally B & Mck Nominees, a subsidiary of US law firm Baker McKenzie, but Low changed it to KV Pro Services in Mong Kok.

Although Low was believed to have been in Hong Kong before fleeing to Macau, the report said it was not known if the fugitive businessman was there in person to sign the papers.

Meanwhile, his younger brother, Low Taek Szen, who is believed to be the managing director of Jynwel Capital, applied to the Companies Registry to change the firm’s name to Quinton Investments.

He also applied for Jynwel Charitable Foundation to be called Quantima Charitable Foundation, the report said.

Low is accused of corruption, bribery and money laundering by law enforcement agencies in several countries in connection with the 1MDB financial scandal.

He reportedly left Hong Kong for Macau before fleeing to mainland China, although authorities have refused to comment on the claims.

In June, the Malaysian Anti-Corruption Commission (MACC) raided his apartment in Jalan Kia Peng, Kuala Lumpur, while the Immigration Department cancelled his Malaysian passport at MACC’s request.

According to a US Department of Justice (DoJ) lawsuit on 1MDB, however, Low also holds another passport from the West Indies island of St Kitts and Nevis.

Prime Minister Dr Mahathir Mohamad said last week that authorities in Malaysia were in the dark over whether Low had been detained, adding that the businessman was “jumping from place to place to avoid arrest”.

Meanwhile, Low’s business associate Seet Li Lin, who has been named as a key figure in the DoJ lawsuit, is listed as a supervisor of a Shanghai-based business consulting firm owned by Jynwel Capital, the report said.

It quoted a source as saying that Jynwel Capital recently tried to shut down the company, which was set up two years ago.

Seet is said to have attended Wharton Business School with Low, and reportedly worked for Jynwel Capital from November 2012 to April 2017 on deals related to securities.

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