Malaysia denies report that Jho Low entered country for 1MDB talks

KUALA LUMPUR: A senior Malaysian lawmaker on Thursday (Jul 9) denied that fugitive businessman Jho Low had entered the country for talks linked to the theft of billions of dollars from state fund 1Malaysia Development Berhad (1MDB).

Low, whose full name is Low Taek Jho, faces multiple charges including corruption and money laundering in the United States and Malaysia for the central role he allegedly played ​in the misappropriation of at least US$4.5 billion from 1MDB. He has consistently denied wrongdoing and his whereabouts are unknown. 

News portal Sarawak Report, which had played a key role in uncovering the 1MDB scandal, reported in May that Low had secretly entered Malaysia last year as part of a Chinese delegation to negotiate debts linked to 1MDB. 

The Wall Street Journal reported separately in May that Low was in talks with Malaysian authorities on returning 1MDB-linked assets.

Deputy Finance Minister Liew Chin Tong denied the details of both reports after being questioned in parliament by lawmakers on 1MDB matters.

"I deny the allegations," he said.

In his response, Liew said the government still had to pay an estimated RM20.1 billion (US$4.9 billion) of 1MDB's debts.

The fund's total obligations stood at RM51.4 billion, Liew said, adding that Malaysia has so far recovered RM31.3 billion in 1MDB-linked assets.

Asset recovery efforts were ongoing, including criminal and civil proceedings against Low as well as financial institutions that enabled the scandal, he said.