Low Taek Jho, the alleged central figure behind the misappropriation of Malaysia’s 1MDB fund, has been ordered by a federal judge in Los Angeles to forfeit a set of diamonds purchased for his mother. The diamonds, described as “flawless,” were obtained from a prominent jeweler known for designing for celebrities including Beyonce and Adele.
This forfeiture order includes a 7.35-carat diamond ring and matching earrings, each greater than 3 carats. These items were found to be procured using funds looted from the 1Malaysia Development Bhd (1MDB) investment fund, which is at the heart of one of the most extensive financial frauds in history. The judgment underscores the concerted efforts by authorities to reclaim assets tied to the extensive embezzlement scandal.
For more detailed information on this case, read the full article on Bloomberg Law.