Report: Jho Low files statement of defence saying he has no ‘legal standing’ to control 1MDB

KUALA LUMPUR, Jan 28 — Fugitive businessman Low Taek Jho filed a statement of defence two days ago in which he claimed to have no legal standing to control 1Malaysia Development Berhad, news portal Malaysiakini reported today.

In the statement of claim, Low, commonly known as Jho Low, asserted that he had held no official post in the state investment firm or any of its subsidiaries.

The statement was in response to a civil action launched against him and a few others by 1MDB, which accused them of criminal manipulation that led to the embezzlement of billions of ringgit. 

The statement of defence was filed on January 26 at the Kuala Lumpur High Court through Low’s law firm Valen, Oh & Partners.

Low was among several individuals and entities targeted by over 20 civil actions by 1MDB and its former subsidiary SRC International filed last year.

The suits were aimed at those who allegedly defrauded the two government-owned entities, whether knowingly or unknowingly.

Low was named as the primary defendant alongside five others — his father and mother Tan Sri Low Hock Peng and Goh Gaik Ewe, his sister May Lin, his younger brother Taek Szen, and his alleged associate Eric Tan Kim Loong.

Bernama had reported on January 5 that Low and his parents entered an appearance in the suit through their lawyers.

According to the statement of defence, Low claimed that the lawsuit should be dismissed on the grounds that it had failed to disclose a reasonable cause of action over allegation of breach of trust or fiduciary duty.

The fugitive contended that he has never been a director or shareholder in 1MDB or its four subsidiaries, nor was he a member of the sovereign wealth fund’s board of advisors or a part of the management team of any of the plaintiffs.

“As such, the first defendant (Jho Low) has no legal standing to exercise control over the plaintiffs, including but not limited to directing or otherwise causing the alleged transfer and/or receipt of funds,” Low was quoted as saying.

Between 2019 and last year, it was reported that the US Department of Justice had repatriated billions of embezzled 1MDB money back to Malaysia.

1MDB’s suit against Low and the other five defendants are fixed for online case management before the Kuala Lumpur High Court on February 9, Malaysiakini reported.