Jho says it ain’t so: Malaysian tycoon denies role in 1MDB ‘heist of the century’ article on Low Taek Jho features in Euromoney‘s April edition of the magazine.
The Euromoney interview was held in Jho’s stylish office in Hong Kong and where reporter Eric Ellis was served his coffee “in exquisite porcelain”. The sophisticated HQ for Jho’s business empire offers “a panorama of the city’s harbour and the promise of China beyond”.
Claiming to be the “victim”, Jho Low turned around to accuse, “you [Umno] play to the bumiputra card: ‘Oh, the Chinaman stole all the money and blew it all on alcohol’.”
Euromoney reports that Goldman Sachs is believed to have made as much as $300 million [RM1.1 billion] in fees alone from the 1MDB bonds deal although the US investment bank disputes this figure.
“I’ve done nothing wrong”, Jho asserts. “I don’t run 1MDB. I don’t control 1MDB. I don’t decide anything on 1MDB …”
KJ: Investigate the Chinaman
Nonetheless, the Euromoney article highlights how sparse is official information about the fund’s finances. “If Malaysians want to get information about an enterprise they ultimately own, they must laboriously wade through the state companies registry at their own considerable expense. No such information is available from 1MDB’s glossy corporate website.”
The young, Penang-born tycoon on the other hand alleges that he is being cast as the villain of the piece simply because he’s Chinese.
He points out that the PM as minister of finance would have signed off on 1MDB shareholder resolutions because the company is owned by the Finance Ministry.
Jho asks rhetorically, “Are you telling me the prime minister doesn’t make his own decisions?”