KUALA LUMPUR (Oct 6): A foreign investigator told the High Court that between 2009 and 2014, fugitive Jho Low and his associate Eric Tan Kim Loong misappropriated US$1.968 billion and US$3.252 billion, respectively, from 1Malaysia Development Bhd (1MDB) and its four units.

Kroll Advisory Ltd director of investigations Richard Templeman told the court that Jho Low’s father, Tan Sri Larry Low Hock Peng, received US$456.25 million, while his sister, Low May Lin, received US$909,319 of 1MDB funds.

Templeman is the fourth witness in 1MDB and its four units’ US$3.78 billion suit against Jho Low, his family — Hock Peng, May Lin, Jho Low’s brother Low Taek Szen and Jho Low’s mother Goh Gaik Ewe — and associate, Tan.

The claim against the six, whose whereabouts are all unknown, are for fraudulent concealment, fraudulent misappropriation of funds and unjust enrichment, among others.

1MDB and its subsidiaries obtained a judgement in default (JID) in 2022 against Jho Low, his father Hock Peng and his brother Taek Szen, followed by one against his mother, Goh, last year. A JID means the court ruled in 1MDB’s favour because the defendants did not respond to the claims.

Monday’s court session is specifically against Tan and May Lin, with testimony from deputy registrar Nurul Ain Hamzah, former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi and Kroll Advisory’s Angela Barkhouse.

Barkhouse plays a crucial part in the liquidation of several firms associated with Jho Low and Tan, as well as other companies related to the 1MDB scandal. Templeman used documents from these offshore companies to gain an insight into the money trail.

Templeman told the court that money was siphoned from 1MDB through four phases between 2009 and 2014:

Templeman, 47, a United Kingdom-based financial investigator, said that of the US$1.968 billion obtained by Jho Low or his real name Low Taek Jho, he received US$1.121 billion during the Good Star phase, US$266.5 million during the Aabar phase, another US$420.8 million in the Tanore phase and finally US$160.5 million in the options buyback phase.

Of Tan's US$3.252 billion, Templeman said he received US$ 134.49 million during the Good Star phase, US$1.215 billion from the fake Aabar phase, US$1.4 billion from the Tanore phase and finally US$502.933 million in the final options buyback phase.

For Hock Peng’s US$456.25 million, Templeman said Jho Low’s father received US$54.75 million from Good Star, US$153 million in the fake Aabar stage and US$248.5 million in the Tanore stage. May Lin received US$809,319 in the Good Star and another US$100,000 in the Tanore stage.

Templeman said the funds were mostly moved through fake companies to make them look like real transactions. Some were sent multiple times through fake Aabar companies in the British Virgin Islands and Seychelles, while the real Aabar PJS Ltd is based in Abu Dhabi.

The witness also revealed that US$681 million from the Tanore phase went into Datuk Seri Najib Razak’s accounts. This is a key issue in the former prime minister’s 1MDB criminal trial.

Besides Siva Kumar, 1MDB and its four subsidiaries were represented by co-counsel Lee Shih and Muhammad Suhaib Ibrahim, while Tan and May Lin were not represented.

Following the conclusion of Monday’s testimony, 1MDB closed its case and Mahazan fixed Nov 12 for oral submissions.

Read also:
1MDB secures judgement in default against Jho Low, his brother Taek Szen and father Hock Peng
1MDB obtains judgement in default against Jho Low’s mum; court fixes August trial dates for Eric Tan and May Lin 

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