<figure id="attachment_2890750" aria-describedby="caption-attachment-2890750" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="size-full wp-image-2890750" src="https://media.freemalaysiatoday.com/wp-content/uploads/2024/10/20f60af8-1mdb-reuterspic-resize-151024.webp" alt="1mdb" width="1600" height="1000" /><figcaption id="caption-attachment-2890750" class="wp-caption-text">The High Court yesterday ordered Tan Kim Loong and Low May Lin, both linked to fugitive financier Low Taek Jho, to pay 1MDB nearly US$2.8 billion for receiving and concealing misappropriated funds. (Reuters pic)</figcaption></figure>
PETALING JAYA: 1MDB will take all necessary legal steps to enforce a High Court judgment ordering fugitive financier Low Taek Jho’s associate and sister to pay more than US$2.8 billion to the sovereign wealth fund.
The court yesterday ruled that Tan Kim Loong must pay US$2.795 billion, while Low’s sister, May Lin, is to pay US$809,319, after finding that both received and concealed funds misappropriated from 1MDB. Neither of them entered appearance or contested the lawsuit.
Welcoming the decision, the 1MDB asset recovery board said the ruling was another step forward in pursuing justice for Malaysians and recovering stolen funds.
&#8220;The ruling sends a clear message that those who benefited from the orchestrated theft of Malaysia’s sovereign funds will not evade accountability,&#8221; it said in a statement.
&#8220;The board remains steadfast in its commitment to ensuring that all individuals who unlawfully enriched themselves with 1MDB assets are held to account.
&#8220;We will continue to pursue every legal avenue, domestically and internationally, to secure full restitution for the Malaysian people.&#8221;

MatchPoint Times

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