KUALA LUMPUR, Sept 4 — The police said today they are in the process of confiscating assets worth a total of RM93.2 million that were allegedly purchased with money from 1Malaysia Development Berhad (1MDB) following investigations on its former lawyer Jasmine Loo Ai Swan.
Deputy Inspector-General of Police Datuk Seri Ayob Khan Mydin Pitchay said the police have identified assets in Singapore, the United States and the United Kingdom besides those in Malaysia, and are in the process of recovering them.
“This is the value of the assets in 2013 so it may be higher now. Jasmine has given us her sworn statutory declaration and cooperated in finding these assets and she has admitted that these are the only assets she knows about,” Ayob said during a press conference at Bukit Aman.
“We will now send her to other agencies for follow-up investigations, these investigations involve many agencies including the Malaysian Anti-Corruption Commission (MACC).”
Loo was arrested by Malaysian police in early July after years outside the country to escape the law. She is said to be a close associate of fugitive Low Taek Jho or Jho Low, who is believed to have masterminded the 1MDB scandal which also involved former prime minister Datuk Seri Najib Razak.
Malaysian authorities have sought information on her as well as other former 1MDB officials and those associated with the scandal. Her lawyer said that her surrender was voluntary and that she would cooperate with 1MDB investigations and help Malaysia recover assets from 1MDB.
Ayob today said that Loo was the owner of a company called River Dee International SA registered in the British Virgin Islands that was used to buy assets for Low as well as facilitate in opening of a bank account at the Falcon Private Bank in November 2012.
Loo received a total of US$16,074,975 in five transactions. She bought properties in New York worth US$4,610,000, London US$2,792,282.93, made investments in America, and has had US$5 million frozen by the Department of Justice in America.
She also admitted to receiving luxury watches like Richard Mille’s, Harry Winston as well as Birkin handbags from Low.
Read here for more on the luxury items listed by the police, which included the US$120,000 (RM558,000) Richard Mille reference number RM023 model.
Upon raiding Loo’s condominium in Bukit Damansara they confiscated a total of RM625,000.
As for assets in Singapore, the police found a company called HeartLand Global had SG$4 million in a Credit Suisse account while another bank account at BSI Bank owned by Springbrook Global they’ve yet to identify the amount in it.
In America, Loo had a condominium worth RM21,408,840 and nine paintings worth RM8,112,533. One of those paintings was in Switzerland while the rest were in New York. She also had RM23,220,000 in a bank account.
In London, the police found a condominium of Loo’s worth RM12,967,361.
“With Loo’s cooperation and statutory declaration we have now taken steps to recover these assets and we will need the cooperation of all the agencies in those countries I mentioned above. This will thus take some time.
“However I assure you we will get all these assets back. As for Loo, she decided to cooperate now because she was tired of hiding and was finding it increasingly difficult to go from place to place avoiding authorities,” said Ayob.
When pressed on the location of Low or if Loo had met him he said no and that the authorities are continuing to hunt for the fugitive financier.
