CYPRadar 🇨🇾👮 Cyprus seizes fugitive Malaysian Jho Low's villa amid ongoing 1MDB asset recovery efforts
Cyprus authorities have seized a luxury villa in Ayia Napa owned by Malaysian fugitive businessman Jho Low, linked to the 1Malaysia Development Berhad (1MDB) scandal involving billions in misappropriated funds. A Nicosia district court issued the confiscation order in June, following a joint application by the Attorney General's office and the Unit for Combating Money Laundering. Low did not oppose the seizure.
Low purchased the villa in 2015 for approximately 5.9 million euros, a transaction that facilitated his acquisition of Cypriot citizenship under a now-abolished investment program. Investigations revealed that despite being flagged as high-risk, Low was able to secure citizenship through intermediaries and influential contacts, including a significant donation to the Cypriot Archdiocese.
Malaysian Deputy Finance Minister Liew Chin Tong denied recent reports that Low re-entered Malaysia to negotiate 1MDB debts. Malaysia is still repaying billions linked to 1MDB but has recovered substantial assets. Legal actions against Low and associated financial institutions continue as part of the broader asset recovery and anti-corruption efforts.
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