Ex-Umno leader: Why probe old forex losses but not Jho Low?

PETALING JAYA: Former Umno leader Khairuddin Abu Hassan today questioned why a special police team was immediately set up to probe the decades-old Bank Negara Malaysia forex losses but no action had been taken against businessman Low Taek Jho in relation to the alleged misappropriation of funds linked to 1MDB.

The Citizen’s Declaration coordinator said the US Department of Justice had provided evidence that Low, better known as Jho Low, had siphoned billions from 1MDB.

“And yet no action is taken. It seems he (Low) is immune to action, whether from the Malaysian Anti-Corruption Commission (MACC) or the police,” said Khairuddin in a statement.

Khairuddin said he had lodged numerous police reports against Jho Low and the alleged misappropriation of funds linked to 1MDB.

“I am puzzled with MACC, the police and also the Attorney-General’s Chambers.

“And yet the police were quick to set up a special team to probe the forex losses which occurred years ago and had been investigated and presented in Parliament in the 1990s.

“But when it comes to Jho Low, who betrayed the country and misappropriated billions of ringgit, both the MACC and the police are silent,” he said.

Jho Low has been implicated by the DoJ in the alleged misappropriation of funds linked to 1MDB.

Prosecutors in Singapore have also named him as the central figure in probes linked to 1MDB, adding that he used money traceable to the state fund for his own benefit.

In court filings, the prosecutors said Low had received “huge” sums of money.

According to the filings, some US$1 billion that 1MDB purportedly invested in a joint venture with PetroSaudi International Ltd was diverted to a bank account beneficially owned by Jho Low, who has disappeared from the public eye.

Jho Low has denied any wrongdoing.

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