Jho Low drops claim to New York's Park Lane Hotel in US forfeiture lawsuit


  • Nation
  • Saturday, 17 Nov 2018

Located in the coveted Bird Streets on a pie-shaped promontory known as the Crown, the 1.2-acre complex was famously owned by Jho Low.

NEW YORK (Bloomberg): The Park Lane Hotel in New York City can be sold to Abu Dhabi's state-owned Mubadala Investment Co. after fugitive Malaysian financier Low Taek Jho (pic) agreed to drop his claims to the property in a US forfeiture lawsuit.

The US Justice Department has been trying to seize Low's stake because he allegedly bought it with money stolen from Malaysia's state-owned 1MDB investment fund. The intermediary companies that hold Low's interest in the property said in a filing Friday (Nov 16) in federal court in Los Angeles that they will withdraw their claims.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Over 12,000 caught vaping in school this year, Dewan Rakyat told
Woman caught trying to smuggle syabu into Indonesia from Sebatik Island
Security concerns an issue in reopening shortcut to BSI CIQ, says Johor exco man
China's shared future principle inspired Malaysia's BRICS participation, says Anwar
Businessman demands RM1.3mil from JPJ, Transport Ministry over 'Madani' plate copyright
Northeast monsoon: Be alert to weather conditions, alerts, says Zahid
Putrajaya may consider Ocean Infinity proposal for new MH370 search
Police to investigate cat abuse incident in Pandan Jaya
Fewer polluted rivers nationwide last year, says DOE
Johor govt to seek views of taximen affected by NGV ruling

Others Also Read