US Court Orders Jho Low to Give Up Diamonds Worth RM5.4 Million
Fugitive financier Low Taek Jho has been ordered by a US federal judge to surrender a set of "flawless" diamonds he purchased for his mother, Evelyn Low. The diamonds, which include a 7.35-carat diamond ring valued at approximately US$1.17 million and matching earrings worth about US$628,000, were acquired from jeweller Lorraine Schwartz. The court determined these diamonds were purchased using misappropriated funds from the 1Malaysia Development Bhd (1MDB) sovereign wealth fund.
US District Judge Dale Fischer declared the diamonds as "criminal proceeds" from the 1MDB fraud. Low remains a fugitive, facing prosecution from both the United States and Malaysia. In June, Low agreed to return over US$100 million in assets linked to the 1MDB scandal as part of a deal with the US Department of Justice. Despite this agreement, he and his associates continue to be pursued by authorities for their roles in the embezzlement of billions of dollars from the Malaysian fund.
