Cyprus court seizes Jho Low’s RM30.5m villa in Ayia Napa over 1MDB-linked money laundering case

KUALA LUMPUR, June 11 — A court in Cyprus has ordered the seizure of a luxury villa belonging to fugitive Malaysian businessman Low Taek Jho, better known as Jho Low, as part of anti-money laundering proceedings, CyprusMail reported.

Citing a statement from the attorney-general’s office, the report said the Nicosia District Court issued the order on Tuesday following a joint application by Cyprus Attorney-General George Savvides and the country’s anti-money laundering authority, Mokas.

Lawyers representing Low reportedly consented to the application.

The villa, estimated to be worth about €6 million (RM30.5 million), is located in the coastal resort town of Ayia Napa and was acquired through the country’s now-defunct citizenship-by-investment programme, commonly known as the “golden passports” scheme.

The seizure application was filed under Cyprus law on the prevention and suppression of money laundering activities and is believed to be the first case in which a Cypriot court has ordered the confiscation of property without a criminal conviction.

Low, who is accused of embezzling about US$4.5 billion from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB), was granted Cypriot citizenship in 2015.

Cyprus revoked Low’s citizenship in June 2024, nearly a decade after he obtained a passport through real estate investments on the island.

According to the report, although Low was reportedly under investigation at the time, he was not officially listed as a wanted person until October 2016, when the International Criminal Police Organisation (Interpol) issued a red notice against him. — Bernama