KUALA LUMPUR (July 23): Wanted businessman Low Taek Jho has been reported to be actively involved in the affairs of his two Hong Kong-registered companies.
The Hong Kong-based South China Morning Post (SCMP) on July 22 reported that Jho Low, as he is widely known, had on July 9 Low signed two documents to change both firms’ company secretary from B & Mck Nominees to KV Pro Services in Mong Kok.
Low is a central figure in an international money laundering investigation related to the alleged misappropriation of US$4.5 billion from Malaysian sovereign wealth fund 1Malaysia Deverloment Bhd (1MDB).
Ousted Malaysian prime minister Datuk Seri Najib Razak was arrested on July 3 for his alleged role in what has been described as the biggest corruption scandal in the country’s history, with reports of some US$700 million of 1MDB funds flowing into his personal accounts to fund his and his wife’s lavish lifestyle.
SCMP said it was not known Low was in Hong Kong when he signed the documents.
It reported that the registry said a signatory would not need to be in the city to sign the papers.
SCMP said B & Mck is a subsidiary of US law firm Baker McKenzie.
It said a spokesman from the law firm confirmed it had ceased to work for Low’s companies but declined to give the reason.