SINGAPORE: Jho Low has been mandated to surrender three “flawless” diamonds purchased for his mother.
These diamonds, designed by renowned jeweller Lorraine Schwartz, were seized as part of the ongoing investigation into the misappropriation of billions of dollars from the Malaysian 1MDB sovereign wealth fund.
On Monday, a federal judge in Los Angeles ordered Low to forfeit a 7.35-carat diamond ring and a pair of matching earrings exceeding 3 carats each.
The ring is valued at approximately US$1.17 million (S$1.57 million), and the earrings are worth around US$628,000.
The diamonds, characterized as “gifts” from Low to his mother Evelyn, were classified as “criminal proceeds” of the 1MDB fraud by US District Judge Dale Fischer.
The diamonds, crafted by the jeweller who has designed for celebrities like Beyoncé and Adele, were among several high-profile acquisitions linked to the 1MDB scandal.
US prosecutors revealed that Schwartz also created a US$23 million necklace with a sizable pink diamond, personally delivered to Rosmah Mansor, the wife of former Malaysian Prime Minister Najib Razak, as per court testimonies.
Low, who remains at large and wanted by authorities in the US and Malaysia, previously agreed in June to return over US$100 million in assets to the US Justice Department.
These assets were allegedly purchased with funds from 1Malaysia Development Bhd (1MDB).
In related legal actions, Jasmine Loo, a former 1MDB lawyer, was also ordered on Monday to forfeit a Pablo Picasso pencil sketch, “Trois Femmes Nues et Buste d’Homme,” bought for about US$1.4 million.
Additionally, Loo agreed to surrender US$25,000 held in a Swiss bank account, as confirmed by an order signed by Judge Fischer.
Singaporean authorities, meanwhile, maintain that Low remains a fugitive, with an Interpol red notice still active in relation to the 1MDB scandal.
The Singapore Police Force (SPF) and the Attorney General’s Chambers (AGC) emphasized last week that despite Low’s settlement with the US Justice Department, Singapore’s criminal investigations into Low and his associates continue unabated.
Singapore has secured court orders to return approximately S$103 million in 1MDB-linked funds to Malaysia, with an additional S$164 million in assets currently seized or restricted.
Of the seized funds, about S$101 million are directly associated with Jho Low and his family.
The SPF and AGC are working closely with international authorities to repatriate these assets in accordance with the settlement agreement between Low’s family and the DOJ, as well as Malaysian legal frameworks. /TISG