Malaysia’s stunning scam Jho Low and the intricate global interest network behind him
By 2015, a financial cases shocked the world: a man named Liu Tezuo Malaysian businessman, was Malaysia , the United States , Singapore, Malaysia, the three accused by the sovereign wealth fund 1MDB , illegal transfer of funds, involving about $ 4.5 billion.
It is shocking to learn more about Jho Low and his life. This ugly second-generation wealthy, using the rules and loopholes of the global financial market, cooperated with others to carry out a series of complex operations, under the cover of the former Malaysian prime minister and related financial institutions, to seek an astonishing amount of personal gain. How did he get to this point? What kind of global interest network is hidden behind his situation?
Low Tezuo’s grandfather was called Meng Tak Low . Due to the outbreak of World War II, he left his hometown in the 1940s and stayed in Thailand for a period of time. He finally settled in Penang, Malaysia in the 1960s . There, he invested in an iron mine, made some money, and married a local woman and had children.
(Left: Liu Mingda, Right: Liu Tezuo)
Low Tezuo’s father is Larry Low, who was born on February 20, 1952. He studied at the London School of Economics and then studied for an MBA at the University of California, Los Angeles. After finishing his studies and returning to Malaysia, he took over his father’s business, but he was not a teacher. He invested in a cocoa plantation in the 1980s and almost lost all his belongings.
In the 1990s, Liu Fuping caught up with the development of the Malaysian stock market and used the remaining money to buy equity in a garment factory, making a fortune. He tasted the sweetness of the stock market, and later through the acquisition of companies and other channels, let his wealth continue to rise. Liu Fuping understood the gray areas of the financial market as early as that time, and his children were also impressed. After getting rich, Liu Fuping worked in clubs where local celebrities gathered in Malaysia, such as Penang Club , but being a local tyrant in a small place like Malaysia is far from satisfying Liu Fuping’s ambitions. He plans to raise the class status of the next generation by spending money. Stride.
On November 4, 1981, Jho Low was born. When he was 13 years old, Liu Fuping sent him to Uplands, the international school of choice for the wealthy in Malaysia. In 1998, 16-year-old Low was sent to the top private school in the UK to study at Harrow Public School, with an annual tuition of more than US$20,000. The class of the classmates around me has made a qualitative leap, and there are many nobles and famous families with billions of dollars in wealth.
Choreographed himself the title of “Prince of Malaysia”
From then on, Low Tejo also mixed with members of the royal family of Brunei, Kuwait and other places, and made friends who played a major role in his later career: Najib, who was then the Minister of Defense of Malaysia and later became Prime Minister of Malaysia. Riza Aziz , the stepson of Najib Razak . Riza later became a key figure in Jho Low’s entry into the upper class of Malaysia.
Low Tezuo’s pursuit of social status is more than that of his father. After all, Malaysia is not a developed country, and the students around him often come from the royal family of XX, which makes Low Tezuo feel shameless, so he spares no expense, even arranged for himself the title of “Prince of Malaysia”. The source of his own huge wealth is explained by his grandfather’s acquisition through mining, wine trading, and investment.
Although Low Tezo was young at that time, he knew that many of his classmates, such as Riza, his family could buy millions of pounds of real estate in the most prosperous part of London, it was impossible to rely on his stepfather Najib. The wages on the table. Once some ideas were planted, they lingered. Jho Low had more bold ideas about the future, so when he chose a university, he decisively gave up Oxford and Cambridge, which were a little dull for him, and moved to the United States. The Wharton School of the University of Pennsylvania .
It was also from that time that Low Tezuo regarded holding parties as an important means of expanding contacts, and the extravagant and extravagant party, which made him the “Asian Gatsby” by his classmates. Although he majored in finance and is a smart student with the ability to learn quickly, he has no interest in career planning like other people and only focuses on social interaction. Liu Fuping is also very supportive of his son’s life style, and even regularly gives Low Tezuo money as his social expenses.
Plagiarizing Wall Street analyst reports
In addition to spending money, Jho Low also wrote several articles to the Wharton Journal , the student newspaper of the business school , to expand his influence among his classmates. However, most of these articles were plagiarized from Wall Street analyst reports. After spending a few years abroad, in 2003, Jho Low, who had not yet graduated, got on the line with Yousef Al Otaiba, the first “key figure” through a mutual friend. Otaiba was an adviser to Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, UAE. He was responsible for liaison with foreign national security and he also had a certain influence in Washington. However, although he knows everything about the Arab political world, he is just an eager novice in the business world.
(Yousef Al Otaiba)
Set up an offshore company to legally transfer money to the Najib family
These characteristics of Otaiba just meet Low Tezuo’s requirements. So under his introduction, Otaiba believed in the broad trading prospects of Southeast Asia described by Jho Low, and introduced him to another young and ambitious Emirati Khalifa Al Mubarak (Khaldoon Khalifa Al Mubarak). Kalduun is also a right-hand man to the Crown Prince of Abu Dhabi and is responsible for running an investment fund called Mubadala Development .
The Mubadala Development Fund was established in 2002. It is the sovereign fund of the Emirate of Abu Dhabi and one of the main investment departments of the UAE government. Invest in industries such as real estate and semiconductors.
This mode of operation taught Low Tezuo a lesson and moved his mind: Malaysia also has a sovereign wealth fund, Khazanah Nasional. Low Tezo is neither Calduen nor background, but he has found his way. After returning to school, the first thing he did was to register himself a company, Wynton Group, in the British Virgin Islands. After graduating from Wharton School of Business in 2005, Jho Low returned to Malaysia and rented an office on the 70th floor of the Petroleum Twin Towers in Kuala Lumpur’s ultra-luxury office building, and wanted to reuse his network of contacts.
He finally waited for the opportunity: Malaysian sovereign fund Khazanah is planning to develop a project called Iskandar Development Region and is seeking partners. So Low Tezo wrote an email to Otaiba on June 17, 2007, introducing the plan in detail and recommending Mubadala Fund to invest. Then he arranged for Khazanah’s executives to fly to Abu Dhabi to meet with Otaiba and others through the relationship with Najib’s stepson Riza mentioned above.
After one pass, Low Tezuo established the impression that he was a key pivot figure in the hearts of this group of people. Later, he set up an offshore company for Riza and Riza’s mother Rosmah (i.e. Najib’s wife) to legally transfer money to them. Through the two lines of light and dark, Low Tezuo took care of all aspects of Najib’s family members. At a reception dinner in August 2007, Najib’s wife Rosmah gave a public speech and said: “I want to thank Low Tezuo for his help. Malaysia brings investment in the Middle East.”
(Left: Najib, Right: Rosmah)
In July 2008, Otaiba was appointed as the UAE’s ambassador to the United States. For the sake of his career, he has ceased to have direct contact with Jho Low since then, instead passing through an intermediary named Shaher Awartani. On Low Tezuo’s side, after achieving a phased “victory”, he has a greater appetite: he wants to acquire two Malaysian construction companies in order to get a share of the Iskandar project. At that time, he was still unknown. If he wanted to borrow money from the bank, he had to be supported by a big man. So, it came to Low Tezuo’s best at making up the link.
Following the old routine, he registered a shell construction company called Abu Dhabi-Kuwait-Malaysia Investment Company in the British Virgin Islands , and gave free stocks to Otaiba and the little nobles in Kuwait and Malaysia, and gave Bank of Malaysia a kind of ” Abu Dhabi-Kuwait-Malaysia Investment Company .” This company feels like it has an extraordinary origin, and it easily lends out tens of millions of dollars.
Then, he spent several thousand dollars to register two shell companies in Seychelles. The company names are ADIA Investment Corporation and KIA Investment Corporation. They deliberately obtained the cooperation between Abu Dhabi Investment Authority (ADIA) and Kuwait Investment Authority ( KIA for short) is related. Low Tezuo allowed these two companies to take part in their own shell construction companies, giving potential business partners the illusion that they were backed by the royal family of Kuwait and Abu Dhabi. When the above scam was devised, Low Tezuo was 27 years old. When his peers were troubled by the financial crisis, he was already sitting on ill-gotten wealth.
At that time, the world’s major financial institutions turned their attention to Asia. In order to obtain more promotion opportunities, many Western financial practitioners came to the company’s Asian branch to seek development. Tim Leissner, who became a partner of Goldman Sachs in 2006, is a typical example.
(Tim Leissner and wife Kimora Lee Simmons)
Leissner has been cultivating in Malaysia for nearly ten years and has established contacts with many local politicians, so it is logical to get to know Jho Low. The two of them couldn’t believe in either, but they came together for common interests and negotiated between the Sultan of Terengganu and Goldman Sachs to finalize a contract for the establishment of a fund.
The soaring reputation has swelled Low Tezuo. He hopes to have a sovereign wealth fund under his own management like those Middle Eastern powerhouses he knows. In order to seek start-up capital, he first presented shares of his own Airbus Construction Company to the Sudan of Terengganu, and then fooled the Sudan to imitate the Mubadala Development Fund in Abu Dhabi to establish his own sovereign wealth fund and promised that he could Bringing Goldman Sachs relationship for Sudan. However, in 2009, when the fund was about to start raising funds, Sudan suddenly repented.
Set up a new Malaysian sovereign wealth fund
However, it didn’t take long for Jho Low to usher in another major turning point: Najib, who had tried hard to confess before, was elected as the sixth prime minister of Malaysia in April 2009. There is hope for Low’s speculative business again. In the first few weeks after Najib took office, he has been an unofficial assistant to Najib. After Najib announced the establishment of a new Malaysian sovereign wealth fund, 1MDB (1Malaysia Development Berhad), he was even more busy. Not only did Najib meet with Prince Turki Bin Abdullah, the son of the King of Saudi Arabia. In addition, Abu Dhabi also promised to invest in projects in Malaysia with the fund.
1MDB was originally intended to invest in Malaysia’s green energy business and tourism, and to create high-quality jobs for all Malaysians, but Najib’s mind was not here. He wants to use the fund as a political financing tool, in addition to enhancing the value of Malaysia in the Middle East and attracting more political donations.
Najib quickly reached a deal with Prince Turki, promising to provide the Prince’s Petro Saudi company with US$1 billion through 1MDB to develop a huge offshore oil field in Turkmenistan. What Najib and Turki didn’t know was that Low Tezo, Turki’s partner Tarek Obaid, Saudi Aramco executive Patrick Mahony, and Low Tezo’s classmate Seet Li Lin at Wharton. A few people, in order to make a fortune in this huge amount of funds, colluded privately and hurriedly registered a new company, Good Star, and embezzled US$700 million from the funds through a private account of JP Morgan Chase in Switzerland.
In order to clean up the illicit money, Jho Low transferred the money from Good Star in Switzerland to IOLTA through the Shearman & Sterling law firm in New York. But he did not intend to act low-key in the slightest. After carrying out an astonishing illegal transfer of funds, within a few weeks, he flew to the United States to host extravagant parties in cities such as New York and Las Vegas. From the end of October 2009 to June 2010, in just 8 months, Jho Low and his entourage spent US$85 million. In addition to drinking, gambling, and renting private jets and yachts, he also Spend a lot of money to invite Hollywood stars to play.
Low Tezuo, who dared to spend millions of dollars in a nightclub in a day, naturally attracted the attention of the New York Post and other media. Low Tezuo’s entourage also reminded him not to be too frustrated, but he did not listen to the opinions of those around him. For him, keeping a low profile is like doing nothing. He just wants to use money to buy the “friendship” from the rich and celebrities that he dreamed of in his adolescence. And ordinary stars look down on him, he wants to be friends with the most popular celebrities. Because Low Tezuo spent money almost sick and famous, he quickly got acquainted with Hollywood superstars Leonardo DiCaprio , Jamie Fox , Usher, etc. through the introduction of several nightclub owners. People have also become his party regulars.
In order to further launder dirty money, Low Tezuo made plans through various channels. First, he asked Shearman & Sterling law firm to purchase the luxury hotel L’Emitage in Hollywood on behalf of his Wyton Group. Through the actress Paris Hilton, after Jho Low met her friend Joey McFarland, Jho Low began planning to film a movie with Joey McFarland to expand his influence. Riza and McFarland registered the film company Red Granite Pictures, and spent $1 million to buy the film rights based on Jordan Belfort’s memoirs and made the film ” The Wolf of Wall Street. ” As in the past, Jho Low did not make a name on the table, but through Riza and McFarland, he has truly stepped into Hollywood.
On the other hand, in order to reward and please his cash cow, Low Tezuo frequently paid for the huge shopping of Rosmah (Najib’s wife) and her son Riza, who have serious shopping habits, by taking the form of company accounts. Tens of millions of dollars worth of jewellery and luxury homes are just a matter of buying. Although the name of Jho Low’s company is on paper, the actual users are Najib’s family.
The party between Low Tezuo and Paris Hilton was full of intimate photos, and he also showed high-profile love with a famous Chinese female singer. (To support the career of Chinese female singers, Low Tezuo founded the Red Spring music production company and paid US$3 million to Pharrell, Pay 4 million to Alicia Keys’ husband, Swizz Beatz, a music producer. The purpose is to make this Chinese-speaking female singer popular in the United States, but the final result is not satisfactory), but in fact, he has one named Jesselynn Chuan Teik Ying Low-key girlfriend. Low Tezo often takes her to the United States, but she is strictly forbidden to attend any parties.
However, the lack of large sums of funds has caused internal doubts and condemnation from the 1MDB board of directors. The irregular management of the fund has also caused many recruited graduates from prestigious schools to leave their jobs. A Malaysian media named “The Edge” has been investigating 1MDB since the end of 2009.
The financial accounting of 1MDB funds is also a problem. After the Ernst & Young accounting firm, which initially cooperated with the fund, saw the problem, Najib terminated the partnership with them and replaced it with KPMG. Moreover, because the media continued to question the source of Jho Low’s funds, the desperate Jho Low had to say that the money was family money, and in order to make this lie more true, he needed to find a small bank that was loosely managed by the compliance department. . So a Swiss bank called BSI, which was in desperate need of expanding its business, came into his eyes.
Since 2010, Jho Low has opened dozens of personal and corporate accounts at the Singapore branch of BSI Bank. One of them transferred USD 55 million from Good Star’s Swiss account on June 28, 2011. On the same day, Jho Low From this money, 54.75 million U.S. dollars was transferred to the BSI account of his father Liu Fuping, and then Liu Fuping transferred the money to the company account controlled by Low Tezuo. BSI is not too stupid to understand what happened, but the bank did not conduct any investigation.
Not only did they fail to investigate, but Yeo Jiawei, the Singapore manager of BSI, also helped contact Amicorp Group, a financial company. This company helped Low Tezuo design a fund operation model with a complicated structure. Under the guise of mutual funds, he helped clients clean up. Money business. After gaining Jho Low’s trust, Yeo Jiawei also used a series of complex financial operations to lent the 1MDB fund claimed to have loaned 1.8 billion U.S. dollars to the Saudi oil company on the books. Yeo himself made millions of dollars through this series of operations.
By the summer of 2011, although Low and his accomplices controlled nearly 2 billion U.S. dollars through 1MDB, most of them were squandered. Therefore, when the total budget of ” The Wolf of Wall Street ” was determined to be 100 million U.S. dollars, in order to come up with With this money, in order to fill in other holes, Jho Low had to engage in illegal activities again.
In a previous unsuccessful acquisition transaction, Low met Khadem Al Qubaisi, the managing director of Abu Dhabi’s sovereign wealth fund International Petroleum Investment Corporation (IPIC), a major financial owner with a scale of 70 billion US dollars. Low Tezuo hopes that IPIC will provide guarantees for 1MDB in order to pave the way for subsequent IPOs. As a report of its guarantee, IPIC will acquire Malaysian coal-fired power plants overseas at a favorable price. In order to obtain an astonishing commission of US$190 million through this IPO, Gary Cohn, the president of Goldman Sachs at the time, ignored the doubts of the staff around him and strongly supported the project (In March 2013, Goldman Sachs sold bonds for 1MDB again, and passed these several transactions. , Earned nearly $600 million in commissions in just 12 months, which is two hundred times the normal transaction fees).
In late April 2012, as Goldman Sachs prepared to issue 1MDB bonds for the first time, about 100,000 protesters flocked to the streets of Kuala Lumpur to express their indignation towards Najib. Najibben envisioned creating more employment opportunities through 1MDB and enhancing his prestige, but he did not expect this fund to become the largest cesspit. And Low Tezuo’s arrogant and extravagant life was not affected at all. He drew more than $1 billion in 1MDB assets from the sale of bonds through Goldman Sachs, and spent $600,000 to give DiCaprio the Oscar trophy that Marlon Brando received that year. On November 3 and 4 of that year, he spent huge sums of money to organize an extremely luxurious birthday party for himself in Las Vegas, where the rich and celebrities gathered from all walks of life.
In April 2013, Jho Low returned to his hometown of Penang to prepare for the upcoming Malaysian national election. He invited his American celebrity friends to stand for Najib’s platform, but Najib’s decline began to appear at that time: Although the people who came to watch the singer’s performance were very happy, when Najib was speaking on the spot, the people said The unified loud “No!” responded.
On May 5th general election day, Najib re-elected with a very slight advantage. However, there are more and more people questioning him and the 1MDB fund. The local newspaper “The Edge” in Malaysia published a very detailed investigation of 1MDB in the next few months, and the “Wall Street Journal” on the other side of the ocean also wrote a related article.
In order to speed up the hiding of money, in the second half of 2013, Jho Low took advantage of the loopholes in many of the world’s top auction houses that did not pursue the identity of buyers and purchased various artworks totaling more than US$300 million, and hid them in the Geneva Freeport. “Sneak Free” gave DiCaprio one of the paintings worth $3.3 million. In addition, from April 2013 to September 2014, he purchased $200 million worth of jewelry from all over the world.
In 2012, through the fame of having a luxury party, he met Frank White Jr., one of Obama’s important fundraisers, whose sister was married to the first lady of the United States Michelle Obama’s cousin, which was considered Obama’s Distant relatives. In order to further “deep feelings”, Jho Low transferred US$20 million through an offshore company, of which US$1.2 million was donated to a Black Men Vote organization to support Obama’s campaign.
To repay the middleman Frank White Jr., Jho Low used 1MDB’s funds to transfer him US$10 million through a consulting company. After receiving the money, Frank White Jr. arranged another meeting between Obama and the executives of Riza Films.
In December 2013, a few days after the release of ” The Wolf of Wall Street “, Low arranged for the movie starring DiCaprio, director Scorsese, Najib’s son Norashman, and stepson Riza to go to the White House. I met Obama in the name of giving the movie DVD, which created a wave of momentum for the movie.
On April 27, 2014, Obama became the first American president to visit Malaysia in the past 50 years. A few days before his visit, Frank White Jr.’s company Dusable Capital and 1MDB signed a contract to develop a solar power plant in Malaysia, and made a lot of money.
In April 2014, Jho Low also begged for a marriage with the Australian supermodel Miranda Kerr, who had been dating for a few months, and gave the woman jewellery worth millions of dollars. Yeo Jiawei, who had previously helped Low Tezuo at BSI, was also dug into his team.
The media’s condemnation of 1MDB is almost irresistible. A British female reporter named Clare Rewcastle-Brown (interrupted with a little gossip: she is the wife of the brother of former British Prime Minister Gordon Brown) also discovered the problem with this fund. In 2014, she contacted Xavier Justo, a former employee who was expelled from Saudi Aramco in 2011.
Xavier Justo was very unhappy with his old club when he was fired. He believed that he had not been paid the millions of dollars he deserved, so he responded very positively to the reporter’s initiative. He holds a copy of the Saudi Aramco’s computer server, containing half a million e-mails, and the illegal operations of Low and others have been clearly recorded. He asked reporters to sell server copies for $2 million. Clare Rewcastle-Brown couldn’t get so much money, so she contacted the Malaysian newspaper “The Edge” and asked them to pay. At the beginning of 2015, “Edge” agreed to pay the fee after IT experts confirmed that the contents of the hard drive provided by Xavier Justo had not been tampered with.
In the following month, a number of media conducted in-depth reports on 1MDB. Najib felt that he could no longer hold it, and even began to discuss with his family whether to step down. The police raided Bank of Malaysia and obtained Najib’s accounts. After sorting out the accounts, the Bank of Malaysia found that between 2011 and 2014, the amount transferred to Najib’s personal account exceeded US$1 billion.
In the Middle East, Khadem Al Qubaisi, the managing director of IPIC, was presented by his senior housekeeper Haoue: Haoue provided evidence of illegal transactions between Khadem Al Qubaisi and Low Tejo over the past few years to Clare Rewcastle-Brown, and by the way “presented it as a gift”. “A lot of photos of Khadem Al Qubaisi having fun all over the world.
Najib got anxious, and he decided to take extreme measures. In June 2015, the Thai armed police arrested Xavier Justo, who was on vacation, confiscated all his computers and documents, and forced him to sign a “confession” containing an apology to the Saudi oil company. As a result, the public will question the content of the emails Xavier Justo previously provided to the media. Several reporters from The Edge also experienced brief detentions. In July, the Malaysian Ministry of Justice began drafting criminal charges against Najib. In September, the Deputy Attorney General Kevin Morais, who was in charge of investigating the Najib case, was tracked down and killed. The murderer threw his body into the swamp.
Since 2015, the US FBI has also begun to pay attention to the 1MDB case. In 2006, the United States and Malaysia signed the “Judicial Assistance Clause”, but the Najib government refused to cooperate, so foreign investigators were unable to obtain important Malaysian banking documents. Najib and Riza also hired Boies, a famous American law firm, Schiller & Flexner to represent them.
In July 2016, U.S. Attorney General Loretta Lynch announced in the Office of the Department of Justice that at least $3.5 billion had disappeared under the illegal transfer of Jho Low, Riza, Khadem Al Qubaisi and others. Subsequently, Jho Low’s mansion, artwork, and private jet were all frozen. In August 2017, the US Department of Justice announced that they were planning to conduct a criminal investigation of 1MDB, of which Low Tezuo was the focus of the investigation.
The Singapore Authority imposed fines totaling more than 20 million U.S. dollars on the BSI and other banks involved. But Ravi Menon, the managing director of the Monetary Authority of Singapore, still said indignantly: “When you impose a large fine on a bank, it is only the shareholders that hurts, and the individual who committed this illegal act has not been held personally responsible. “
As he said, in August 2016, Khadem Al Qubaisi was detained by the Abu Dhabi police and his assets were frozen without formal charges; Xavier Justo was also released from a Thai prison in December; and Jho Low, he not only I still had a good time, the parties continued, and I even had my own children around the end of 2016 and early 2017.
Najib suffered a disastrous defeat in the Malaysian general election on May 10, 2018. A few days later, he and his wife Rosmah tried to flee to Indonesia by private jet, but after being leaked, they were stopped by the new prime minister Mahathir Mahathir Mohamad.
In the next few days, Najib, Rosmah, and Riza were summoned by the Anti-Corruption Commission for interrogation. Police raided the Kuala Lumpur apartment of the Najib family and found items worth US$274 million, including 12,000 pieces of jewelry, 567 handbags and 423 watches, and US$28 million in cash. On July 3, 2018, anti-corruption officials arrested the former prime minister. The judge read out the charges: abuse of power and three criminal offences of breach of trust. Each of the four charges was sentenced to 20 years in prison. He pleaded not guilty and was granted bail for $247,000.
On October 30, 2019, the U.S. Department of Justice issued an announcement stating that it had reached a settlement agreement with Jho Low and recovered more than US$700 million in assets, but the settlement agreement does not mean that the investigation of Jho Low and his accomplices has ended. Others The civil case is still under trial.
The existence of people like Low Tejo shows that there is still a huge gap between Malaysia and Najib’s advanced countries. Local talents were forced to flow out, and Western financial institutions indirectly pushed Malaysia into deeper financial difficulties in order to earn huge commissions. When Low Tejo frantically buys high-priced artworks, he doesn’t care that corruption will affect the generations of Malaysians.
Rating agency Moody’s predicts that the Malaysian government will be able to repay the fund’s debt of approximately US$7.5 billion, which is equivalent to 2.5% of the Malaysian economy. Foreign investors are worried about the 1MDB scandal and have sold Malaysian assets. In just a few months, the local government The exchange rate of the currency against the U.S. dollar fell by 30%. The 1MDB fund was supposed to create new jobs, but it will become a heavy burden on Malaysia’s national finances in the next few years.
How much money do you need to be able to “spin whoever you want”?
Is money almighty?
But can money really buy everything?
A wealthy businessman in Malaysia’s bumpy love road
Tell everyone a truth
When it comes to making female celebrities, money is really not everything
Let’s get to know this former rich man first
He looks like this
Three generations of Malaysian Chinese rich Jho Low (Jho Low)
Jho Low graduated from the British aristocratic boys’ school Harrow College. He has a very wide range of connections. In the entertainment industry and American sexy ladies such as Lindsay Lohan, Paris Hilton , even Xiao Li won the Golden Globe Award for the best with “The Wolf of Wall Street” When the male lead, he also specially nominated and thanked him in his speech. Jho Low can eat as well in the financial world, and he is a brother to the investment bankers of Goldman Sachs .
Of course, this is also the glory of the past. Since being involved in the corruption case of Malaysia’s “1MDB”, which is called the world’s largest financial scandal, Jho Low, who has long fled overseas, has become a wanted criminal by the Malaysian government. I’m afraid that some children’s shoes don’t understand this financial scandal, which is so exciting that it does not lose the movie. The editor will help you simple science popularization.
“Financial Theft” that is 10,000 times more exciting than “The Wolf of Wall Street”
Since 2015, the Malaysian sovereign investment fund 1MDB (1 Malaysia Development Bhd, also referred to as ” 1MDB ” in Chinese) has been subject to strict scrutiny for suspicious fund transactions and evidence pointing to money laundering activities.
In a lawsuit filed by the U.S. Department of Justice (DOJ), at least US$3.5 billion was allegedly stolen from Malaysia’s 1MDB state-owned fund. Not only the amount is huge, but at least six countries are involved, including Singapore, Switzerland and the United States. The top investment bank Goldman Sachs was investigated by the U.S. Department of Justice and the Swiss financial regulator claimed that the Swiss subsidiary of JPMorgan Chase had seriously violated anti-money laundering regulations in its business dealings with the Malaysian sovereign fund 1MDB.
According to statistics, Jho Low has misappropriated more than 18 billion ringgits (approximately 29.1 billion RMB) from the “1MBD” over the years , of which at least 800 million ringgits (approximately 1.3 billion RMB) was squandered on female celebrities. . .
Female celebrities that Low Tezuo has soaked in those years
Knowing that you can’t wait to think about which female celebrities are in gossip, here is the secret to everyone.
Bought a bottle of 1.8 million pounds of champagne for Hilton
Low Tezuo once bought champagne for £1.8 million in a nightclub to win the favor of Paris Hilton , the queen of the party ~
Of course, it was favored by the goddess at one time. Hilton (maybe drinking too much) kissed him at the party~
Bring Hilton to a yacht party! (The happiness of the rich can’t imagine)
Of course, you know the ending. Hilton said goodbye to Jho Low within a few days. After all, the American celebrity Hilton is a famous coffee player, and the boyfriends whom I talked about couldn’t count one hand, and Low Tezuo said that he couldn’t hold it!
These are nothing.
His social peak was his 30th birthday in 2012.
When all the rich had to tighten their belts after the financial crisis, in Las Vegas, he rented a suite for US$25,000 per night and invited most of Hollywood to cheer for him with a generous remuneration that was hard to refuse. .
Drunk little plum danced at the party, Britney Spears got a six-figure fee and sang a birthday song. Uncle Bird , who was on fire because of ” Jiangnan Style ” , was also there.
The party lasted until the next afternoon, and that night, he spent a lot of money in the casino and lost millions of dollars overnight.
At that time, all the media were shocked. How could this mysterious man have so much money? !
Until 2015, Jho Low appeared on the Legal News. “Asia Gatsby” originally meant “Malaysia and Shen” .
Spend more than £1 million to propose to her
This “she” is Xiao Yaxuan who has many handsome predecessors. In 2011, Low Tezo proposed to Elva Hsiao at the luxurious Atlantis Hotel in Dubai .
The arrangement of the proposal scene is also very troublesome.
Arrange for the band to play songs
Set off gorgeous fireworks
Of course, he also gave jewelry, it is said that the way of appearance is still airborne.
Elva Hsiao refused to see such a romantic marriage proposal. Xiao Yaxuan responded like this.
This answer is heartbreaking! Who makes Elva a real face control? The boyfriend I talked about looks like this.
And Low Tezuo looks like this, the real gap is a bit big.
Want to be a top supermodel? The sale is $8.1 million worth of jewellery
Low Tezuo will not die until the Yellow River, this time he will target the supermodel Miranda Kerr . In order to pursue Kerr, Low Tezuo sent various jewellery to the hand soft.
Miranda Kerr likes music, so he bought a transparent piano from the Dutch Crystal Music Company, valued at 1.1 million US dollars. The piano is still in Miranda Kerr’s house.
In addition to these genuine girlfriends, Low Tezuo also has quite a well-known circle of friends.
We are more familiar with the supermodel Gigi .
According to the ” New York Post ” quoting a report from the Department of Justice, Jho Low has repeatedly used 1MDB’s funds to buy gifts to pursue Miranda. 2014 Valentine’s Day with his $ 1.29 million high-priced buy heart-shaped diamond of 11.72 card was given to divorced Miranda. In November of the same year, Low bought a 8.88-carat diamond pendant for $3.8 million and 11-carat diamond earrings for $1.98 million , as well as jewelry such as necklaces and rings.
However, in 2017, Kerr has handed over $8.1 million worth of jewelry involved in the 1MDB scandal to the U.S. Department of Justice.
It is rumored that the two have been dating for a year, but in 2015 Miranda and Snapchat founder Evan Spiegel were dating, and finally married in a low-key manner.
Low Tezuo thought he could get a female celebrity with money. He took the ill-gotten wealth he got to pick up girls, and he only knew how to squander money, he didn’t understand that money is not everything. It’s really retribution for economic criminals like him to live a shameless life. However, having said that, no money is absolutely impossible. Otherwise, like Low Tezuo’s appearance, how can he have the opportunity to have close contact with female celebrities? Happy editors who have money to spend casually also want to have it, provided that it is not illegal!
In this era full of opportunities, there are many opportunities to become millionaires on their own strength. Like Google ’s CEO Pi Chai, he was born in a civilian family. He was too poor to afford a backpack, and his final salary exceeded 100 million U.S. dollars. Of course, the dream has to be realized step by step. Let’s start by getting a high-paying offer!