Wanted businessman Low Taek Jho as well as his parents Larry Low Hock Peng and Goh Gaik Ewe have entered appearance in the US$3.7837 billion suit filed against them by 1MDB.
The appearance was entered by law firm, Messrs Valen, Oh & Partners representing the three defendants on Dec 29, 2021.
Lawyer K Siva Kumar, who represented 1MDB, said the court had ordered Low, popularly known as Jho Low, and his parents to file a statement of defence on or before Jan 26, besides setting Feb 9 for case management.
“However, the other three defendants, namely Jho Low’s sister May Lin, his younger brother Taek Szen and his associate Eric Tan Kim Loong, have yet to enter an appearance in the suit,” the lawyer said when contacted by reporters after the case management was carried out online before deputy High Court registrar Nor Afidah Idris today.
On May 7, 1MDB and its four subsidiaries, 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified Investment Company Limited formerly known as 1MDB Global Investments Limited, had filed a suit against the six defendants.
Based on the writ, 1MDB is claiming US$661 million from Jho Low and US$41 million, US$397 million, US$608 million and US$1.9 billion from Jho Low and Tan respectively as well as US$325 million from Jho Low and his father Hock Peng.
1MDB Global Investments Limited is also seeking US$630 million from Hock Peng, Jho Low and Tan and US$2 million from Taek Szen, Jho Low and Tan.
The plaintiffs are also seeking US$3.5 million from May Lin and Jho Low and US$1.695 million from Goh, Jho Low and Tan in connection with the purchase of jewellery and secret profits apart from claiming US$25.5 million from Jho Low, Tan, Hock Peng and Taek Szen.
Based on the statement of claim, the plaintiffs claimed that they were manipulated by a group of individuals, including Najib Razak and the first defendant (Jho Low), to facilitate a large-scale and long-term fraud which resulted in billions of ringgit being fraudulently misappropriated into privately controlled accounts for the benefit of various fraudsters, including the defendants.
“In carrying out the fraud, multiple breaches of trust and/or fiduciary duties were committed by Najib, members of the board of directors and senior management of the plaintiffs.
“The funds and assets of the plaintiffs which were transferred to the defendants were misappropriated, with the knowledge of the defendants, in breach of trust and fiduciary duty,” the plaintiffs said.
They also claimed that Najib had abused his power and position to protect himself and cover up the fraud against the plaintiffs, among others by obstructing efforts to investigate and uncover evidence related to fraud and misconduct against the plaintiffs in Malaysia.