Park Lane investor Jho Low charged with money laundering in Malaysia

Fugitive playboy thought to be in China

TRD New York /
Aug.August 24, 2018 03:30 PM

Jho Low and Park Lane Hotel at 36 Central Park South (Credit: Getty Images and Park Lane New York)

Malaysian police have officially charged money laundering suspect Jho Low, an investor in the Park Lane hotel in Manhattan.

The Wall Street Journal reported that Low was charged this week on eight counts in connection with 1 Malaysia Development Bhd., a multibillion dollar sovereign wealth fund Low is alleged to have stolen from between 2009 and 2015.

A Malaysian court previously ordered Low’s arrest. Low’s father also faces one charge of money laundering.

Malaysia’s prime minister, Mahathir Mohamad, said he believes Low is currently somewhere in China. Malaysian police said the charges will help get him arrested while he lives abroad, according to the Journal.

Former Malaysian prime minister Nazib Razak, who lost an election to Mohamad, has also been charged with money laundering in the 1MDB scandal.

In the United States, federal prosecutors believe Low is responsible for diverting $4.5 billion away from 1MDB, investing some of the funds in U.S. real estate, including the Park Lane Hotel in Manhattan. Prosecutors moved to seize the Park Lane through a civil forfeiture action in 2016, but have since cut a deal with developer and co-owner Steve Witkoff to sell the building and place Low’s cut in escrow while it continues to investigate him. The building has not sold, however.

Low, 36, rose to prominence in 2010 when he was pictured partying with Paris Hilton in St. Tropez. He allegedly paid Hilton $1 million for that privilege, though she has denied that. [WSJ] — Will Parker

Related Articles


Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

30 West 31st Street and 52 West 36th Street (Credit: Google Maps)

South Korean firm snaps up two Midtown hotels for $137M

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

163 North 6th Street and the Tel Aviv Stock Exchange Bull (Credit: Google Maps, Wikipedia)

Joel Gluck’s Israeli bond issuance falls through as Williamsburg rental project faces financing crunch