Home News Featured News Jho Low owns Good Star, says WSJ leaked Malaysian Central Bank letter

Jho Low owns Good Star, says WSJ leaked Malaysian Central Bank letter




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Letter confirms early reports by both Wall Street Journal and Sarawak Report that those accused or suspected of siphoning 1MDB money used an intricate, complicated web of companies layered in such a way to create confusion to investigators.
But WSJ’s revelation explains it
In its revelation on its online.wsj,com website, the US based newspaper that broke the story (together with sarawakreport) of the money transferred to the personal account of the top Malaysian political figure, said it received a confidential letter that indicates Good Star Limited is beneficially owned by Low Teak Joh, commonly referred to as Jho Low.
On April 6 Bank Negara Malaysia, the central bank of Malaysia, sent a letter to the Public Accounts Committee president Datuk Hasan Ariffin regarding the troubled 1MDB.
In the letter, published on http://online.wsj.com, the bank said it received information from foreign entities in relation to who owns Good Star Limited, the company said to belong to a crony of some political leaders.
The letter also indicated there was no change in ownership of GSL since its inception.
Bank Negara, in the letter clearly indicated the information was not to be made public or was to be used in any prosecution cases.
Another source, named as Foreign Authority 2, in the BNM letter is said to have revealed that GSL applied to open an account at RBS Coutts AG, Zurich on June 9 2009.
The sole director of the application form appears to be Smart Power Lid, and the sole director and bearer of the single bearer share in SPL appears to be Jho Low.
The authority also said Jho Low appears to be the only beneficial owner of the account at RBS.
BNM said in its letter to Hasan, it is waiting for a response from the PAC chief.
The BNM also said any decision to use these information in public had to be made through the proper channel and in advance.
The Malaysian Central Bank is said to have made a police report against WSJ for publishing the letter, which it says is confidential.
The Malaysian PM also spoke on the publication of the confidential letter by WSJ, saying the American newspaper will have to answer for that.
Singapore prosecutors (read here) said Friday, the 1MDB scandal was the biggest ever financial fraud and money laundering investigation done in Singapore.
Link to the letter: http://online.wsj.com/public/resources/documents/letter.pdf
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