Police say more assets related to misappropriated 1Malaysia Development Bhd (1MDB) funds are set to be seized following Jasmine Loo Ai Swan’s arrest.
Inspector General of Police Tan Sri Razarudin Husain said Loo, an alleged close associate of Low Taek Jho or Jho Low, has so far given good cooperation to investigations since her arrest on July 7.
He also said that Loo, a former 1MBDB lawyer, is still under police custody as the Commercial Crime Investigation Department (CCID) has taken over the investigations.
“CCID is still investigating Loo under the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). So far she has been very cooperative.
“(After this) we will do a lot of confiscation,” Razarudin told reporters after the Madani Ride and Ipoh Superbike Club launch at the Police Training Centre (Pulapol) today.
It was reported that on Dec 4, 2018, the magistrate’s court issued an arrest warrant against Jho Low, Loo, former 1MDB official Geh Choh Heng and Jho Low’s close associate Eric Tan Kim Loong, among others.
The warrant was issued after their failure to appear in court to face seven charges of money laundering related to 1MDB.
Asked about the confiscation and forfeiture of IMDB assets, Razarudin said it would be done soon although investigations under AMLA may take much longer.
“We are in the process (of confiscation), but because AMLA has to go through the long process, we will start by confiscating before the forfeiture process.”
He added that Loo would be handed over to the Malaysian Anti-Corruption Commission (MACC) after police investigations are completed as the former needs Loo to complete investigations into the financial scandal.
“InsyaAllah, we are heading in that direction (of completing the puzzle),” Razarudin said. – NST