Information reaching Kossyderrickent has it that Fugitive businessman Jho Low and his father, Larry Low Hock Peng, have been sentenced to prison by the KL High Court. (Read More Here).
This is for their failure to comply with a Mareva injunction granted to 1MDB and its subsidiary Global Diversified Investment Company Ltd.
The companies obtained the Mareva injunction on March 15, where they applied to freeze Jho Low’s and Hock Peng’s assets that are believed to be related to 1MDB.
The duo were supposed to disclose to the companies where their assets were located, but failed to do so.
Jho Low and Hock Peng were not present and were also not represented during the open-court proceeding today.
Lawyer Siva Kumar Kanagasabai, who represented 1MDB, said Jho Low and Hock Peng can be sentenced to prison until the contempt is purged.
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