Sunday 04 Jun 2023
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KUALA LUMPUR (Dec 16): The High Court has set Jan 20 next year to hear the prosecution's forfeiture application against former 1Malaysia Development Bhd (1MDB) general counsel Jasmine Loo Ai Swan.

Judicial Commissioner Datuk Azhar Abdul Hamid set the date on Friday (Dec 16), following a brief mention.

The prosecution is trying to forfeit two properties, including a condo in Mont Kiara, along with a Volkswagen Beetle and an Audi.

The application was filed in November 2021, under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activity Act 2001 (AMLATFPUA).

Section 56 of AMLATFPUA stipulates forfeiture of properties where there is no prosecution.

Loo, who is said to be part of fugitive financier Low Taek Jho's (Jho Low) close associates involved in the 1MDB scandal, is listed as a wanted person. Her whereabouts are unknown.

New proposed settlement of OCBC's third-party claim

During the mention on Friday, the court was also informed that there was a new proposed settlement by the prosecution with OCBC Bank (M) Bhd over the latter's third-party claim on a condominium unit in the forfeiture list.

However, OCBC Bank’s counsel Lim Jun Yik told the court that as the proposal was only indicated verbally on Thursday, his client would need a proposal in writing before relaying any further instructions.

Deputy public prosecutor Muhammad Zulfadli Mohd Nawawi, representing the prosecution, said that he would endeavour to get the proposal in writing.

Azhar reminded the parties that the settlement talks have been ongoing since October, and any settlement should be worked out before the trial date in January.

Previously, The Edge reported that Loo's Mont Kiara condo was set to be auctioned off, following an application filed by OCBC Bank over her alleged failure to settle an outstanding loan sum of more than RM300,000.

Edited BySurin Murugiah
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