A Cyprus court has ordered the seizure of a luxury villa owned by fugitive Malaysian businessman Low Taek Jho, better known as Jho Low, as part of anti-money laundering proceedings.
According to a report by CyprusMail, the order was issued by the Nicosia District Court following a joint application by Cyprus Attorney-General George Savvides and the country’s anti-money laundering authority, Mokas.
The report said lawyers representing Low agreed to the application.
The villa, estimated to be worth about six million euros (RM30.5 million), is located in the coastal resort town of Ayia Napa and was acquired through Cyprus’ now-defunct citizenship-by-investment programme, commonly known as the “golden passport” scheme.
The confiscation application was filed under Cyprus laws governing the prevention and suppression of money laundering activities.
According to the report, the case is believed to be the first instance in which a Cyprus court has ordered the confiscation of property without a criminal conviction.
Low, who is accused of misappropriating about US$4.5 billion from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB), obtained Cypriot citizenship in 2015.
Cyprus revoked his citizenship in June 2024, nearly a decade after he secured the passport through property investment in the Mediterranean island nation.
The report added that while Low was reportedly under investigation at the time, he was not formally listed as a wanted person until October 2016 when Interpol issued a red notice against him.
