Jho Low Spends Over RM40 Million of 1MDB’s Money on Jewellery for Miranda Kerr

The controversial 1MDB case has been updated again, thanks to the United States Department of Justice (DOJ) latest court filings on Thursday that accused Jho Low and his associate Eric Tan of dropping a shocking US$200 million (RM855 million) on jewellery. 

Source: malaysiakini

According to Malaysiakini, DOJ estimates that the figure that was misappropriated to be US$4.5 billion (RM19.2 billion) and are working hard to recover back at least US$1.7 billion (RM7.2 billion) of assets that were bought using the funds looted from 1MDB.

Among the list of assets the DOJ is trying to seize include a yacht, various artworks, many pieces of jewellery, movie rights and several properties. You can read the entire filing here.

Some of the jewellery that was in the list were gifted by Low to the Australian supermodel, Miranda Kerr back when they were dating. He presented her with an 11.72-carat, heart-shaped rock that cost $1.29 million (RM5.51 million) from Lorraine Schwartz for Valentine’s Day 2014 which he ordered to be inscribed with her initials.

Aiyoyo, trying to buy her heart is it.

Source: pinterest

Next, he lavished the model with an 8.88-carat diamond pendant valued at US$4.5 million (RM19.2 million) and 11-carat diamond earrings and a matching necklace, ring and bracelet costing US$1.98 million (RM8.46 million). Page Six states that Kerr still has the diamonds and are cooperating fully with the investigation. That’s a helluva lot of jewellery!

But that’s not all the jewellery he spent those ill-gotten money on. Malaysiakini reports that the list also states that MO1’s wife allegedly selected 27 different 18-carat gold necklaces and bracelets worth a total of US$1.3 million (RM5.55 million) in October, 2014.

Source: malaysiakini

Wait, there’s more, because Low also apparently bought a rare 22-carat pink diamond necklace for MO1’s wife that cost US$27.3 million (RM116.7 million). However, Datin Seri Rosmah has made a speech recently during the Ministry of Defense’s Hari Raya celebration at Jalan Padang Tembak at Kuala Lumpur.

Based on Malaysiakini, she reminds citizens not to fall prey and believe in the falsehoods.

She says that these were purposely being told to destroy the peace and stability of a leader, organisation or even a country. She said cyber war is also a form of war that can threaten the peace of a country and to fact-check before believing in any stories that were told. 

Source: helen ang

She said, “Slander is a crime, because it is fabricated from something that is not the truth. It is used to destroy a person’s reputation or credibility.”

Another celebrity that is embroiled in the 1MDB scandal is Leonardo DiCaprio as he had accepted gifts from Low to raise funds for auction for his environmental foundation which included more than $13 million worth of art and Marlon Brando’s Oscar for “On the Waterfront.”

Source: hollywood reporter

CNBC states that DiCaprio’s spokesman said they had “initiated the return” of gifts he had received from financiers connected to the 1MDB case. The 2013 film, “The Wolf of Wall Street” which starred DiCaprio is allegedly funded by 1MDB as well.

“We simply will not allow the United States to be a place where corrupt individuals can expect to hide assets and lavishly spend money that should be used for the benefit of citizens of other nations,” Kenneth Blanco, acting assistant attorney general, said in a statement on Thursday.

Meanwhile, an emailed statement by the Malaysian authorities says that there was no crime committed by anyone at the fund but will be cooperating with the DOJ on this issue.

Guess we will have to wait for DOJ to find out the truth!

Also read: Minister Asks Malaysians To Forget About 1MDB Scandal And Move On