Sunday, July 2, 2017

A Bank for Jho Low












Malaysian tycoon Low Taek Jho or Jho Low, who has been implicated by the US Department of Justice in the alleged misappropriation of funds linked to 1MDB, had reportedly considered a move to buy a bank in Barbados to safely stow away money there.
 
The Wall Street Journal reported on Friday that this was revealed in leaked emails connected to Yousef Al Otaiba, the UAE ambassador to the US who is said to have had dealings with Low, and his business partner Shaher Awartani.
 
It said Low was cited in one email as saying he wanted the bank to be acquired with a company owned by Al Otaiba and Awartani as the official buyer, to serve as a “parking spot” for his funds as well as those of his friends and family.
 
Why not?
 
Jho Low should pursue that intention – it makes sense, after all.
 
If I had money coming out of my ears, I wouldn’t trust others with my money. More so, when it is stolen money. I would want to keep it in a safe place – my very own bank!

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