LUCKILY GUAN ENG & CO SOLD OFF JHO LOW’S EQUANIMITY FAST! NO BUYERS STILL FOR 1MDB CO-CONSPIRATOR’S PRIVATE JET – DESPITE U.S. DOJ GETTING NOD TO AUCTION IT 6 MONTHS AGO

A PRIVATE jet belonging to Low Taek Jho remains at Singapore’s Seletar Airport, months after a US court agreed to have it go on sale, reports The Straits Times.

The US$35 million (RM146 million) Bombardier Global 5000 aircraft is among the billions in assets bought using allegedly misappropriated 1Malaysia Development Bhd funds, in a scandal that has triggered investigations in several countries and sent the Penang-born financier into hiding.

The report, quoting sources, said the plane, parked in a private firm’s hangar, has been at the airport for more than two years, and is unlikely to leave Singapore any time soon due to unresolved claims by several parties, including Malaysia.

“We are aware that an order has been made by a US court in relation to the aircraft, and we are in discussion with the relevant foreign authorities on this,” a police spokesman was quoted as saying.

Sources said the US ruling is complicating matters for Putrajaya, which is seeking the jet’s return.

Malaysia has been looking for buyers, with no success, they added.

It was reported last November that a US federal court had approved an agreement between Global One Aviation Ltd (Global 5000) and the Department of Justice to sell the aircraft.

At the time, Global 5000 said it was agreed that a formal bidding process would be undertaken “immediately”, with the proceeds to be held in escrow in the US until the legal rights of all the parties involved were determined by the courts.

The jet is among numerous assets linked to Low that have been seized by authorities in Malaysia and the US, which has filed forfeiture suits over US$1.7 billion worth of items, including a US$1.29 million heart-shaped diamond and a US$3.2 million Picasso artwork given as a gift to Hollywood star Leonardo DiCaprio.

Also last November, it was reported that Park Lane Hotel in New York may be sold to Abu Dhabi state firm Mubadala Investment Co after Low agreed to drop claims to the property in a forfeiture suit.

This followed the DoJ’s efforts to seize the businessman’s stake, said to have been bought using stolen 1MDB monies.

Last month, Putrajaya confirmed that super yacht Equanimity had been sold to casino operator Genting Malaysia Bhd for US$126 million.

Attorney-General Tommy Thomas had said as of April 30, some RM15.5 million was spent on the vessel’s handling and maintenance following its seizure on August 6 last year.

Malaysian authorities have issued an arrest warrant for Low, who has consistently denied any wrongdoing.

THE MALAYSIAN INSIGHT

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