Jho Low's father pares stake in Frencken; no longer substantial shareholder

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SINGAPORE (Aug 30): Larry Low Hock Peng, the father of Jho Low, has reduced his holdings in Frencken Group to 4.74% from 8.14% previously, ceasing to be a substantial shareholder in the group.

The Malaysian government last Friday filed criminal charges against both father and son over the 1Malaysia Development Bhd (1MDB) case.

(See: Malaysia files criminal charges against Jho Low in absentia)

According to court documents sighted by The Edge, Jho Low was slapped with eight charges under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act, 2001 (Act 613). Three of the charges were for receiving money and the remaining five were... (Click here to read the full story)