1MDB: I have nothing to hide, says Jho Low

1MDB: I have nothing to hide, says Jho Low
JHO LOW: I feel Im a victim of the cross-fire of Malaysian politics, which is getting more polarised. Im a target. - File pic
KUALA LUMPUR: Malaysian businessman, Taek Jho Low, 33, has denied allegations of money laundering and fraud hurled against him including the much talked about 1Malaysia Development Berhad (1MDB) issues.

Jho Low who is Chief Executive Officer of Jynwel Capital, a Hong Kong investment advisory company, said he had nothing to hide and claimed that all allegations were politically motivated.

He made this statement during an exclusive interview with South China Morning Post (SCMP).

“I feel I’m a victim of the cross-fire of Malaysian politics, which is getting more polarised. I’m a target.

“Business decisions by 1MDB are ultimately decided and approved in accordance to their corporate governance framework, which is the management, board and shareholder.
“So why politicise and try to blame it all on me when I have no decision-making authority?

"If the Malaysian authorities ask me to assist with their investigations, I’m happy to cooperate. I’ve nothing to hide. I believe in the rule of law. As of today, I’m not under investigation. I’ve never done anything illegal,” said Jho Low to SCMP at his office in Hong Kong.

Earlier, PKR vice-president Rafizi Ramli said that a police report would be lodged against the Prime Minister Datuk Seri Najib Tun Razak and two other individuals, Low Taek Jho and Datuk Shahrol Halmi in connection to the 1MDB issue.

Rafizi said, Jho Low and Shahrol, former Chief Executive Officer of 1MDB should be investigated for breach of trust.

On March 4, Najib had instructed the Auditor-General to look into the 1MDB accounts following the recent media reports on the company.


Jho Low in his interview with SCMP also denied being the mastermind behind 1MDB.

“I’m not hired by 1MDB and I don’t get paid any fees by 1MDB. If someone in 1MDB asked me for my views informally, I will give my views like any other Malaysian,” he said during the interview.

Low’s spokesman also confirmed to SCMP that as of mid- May 2009, he had helped in setting up the Terengganu Investment Authority (TIA), together with other institutions such as Goldman Sachs, McKinsey Consulting and Boston Consulting Group.

Jho Low had moved from Malaysia to Hong Kong in the year 2010. Based on Hong Kong’s corporate report, he had established Jynwel Capital in Hong Kong on November 19, 2010.

In this interview, Jho Low also admitted of living a luxurious life while in New York and several other countries around the world however was careful in creating any media attention after being advised by his parents.

He also said that his earnings came from his investments and also his father and grandfather from Guangdong.