Low Taek Jho often called as Jho Low is our Malaysian financier and the beneficiary of numerous discretionary trust assets currently involved in civil court disputes with the United States Government, among other activities.
Supermodel Miranda Kerr was showered with millions of dollars’ worth of diamonds by her billionaire ex-boyfriend. Jho Low is accused of masterminding the theft of $4.5 billion (RM19.24 billion) from a Malaysian development fund (1MDB).
His first gift to Miranda was an 11.72-carat heart-shaped diamond that cost $1.29 million (RM5.52 million) from Manhattan-based jeweler Lorraine Schwartz. The diamond is big enough to be any girl’s best friend. He had it inscribed with Miranda’s initials as a finishing touch.
The court filing states that Jho Low gave the 11.72-carat heart-shaped diamond to Miranda who resides in Lost Angeles as Valentine’s Day present in 2014.
However, that’s not the end of his money spending spree. In November 2014, Jho Low allegedly plunked down $3.8 million (RM16.25 million) as partial payment for an 8.88-carat diamond pendant from Loraine Schwartz valued at around $4.5 million (RM19.24 million) that he also gave to Miranda as a gift.
He bought it after seeing a photo of it, the diamond was sent to his London office of a lingerie company which he also allegedly bought with stolen money. It came with a chain and necklace that cost $800,000 (RM3.42 million).
Jho Low then spent an additional $1.98 million (RM8.46 million) on 11-carat diamond earrings and a matching necklace, ring, and bracelet. He gave Miranda those diamonds aboard his new yacht, the Equanimity.
According to the United States Department of Justice (DOJ), the first recorded purchase by the businessman using 1MDB-linked monies dated back to 2012 when he bought a diamond ring and matching diamond earrings for his mother.
Jho Low also allegedly spent $28.6 million (RM122.2 million) on jewelry for the wife of Malaysian Official 1.
According to Page Six, the gifts Miranda received when she dated Jho Low for a year are just part of more than $1.6 billion (RM6.84 billion) worth of assets – including property, art, jewels, the yacht and even a jet – that the US Justice Department is now trying to recover.
Miranda Kerr who married the founder of Snapchat, billionaire Evan Spiegel, this year has been cooperating fully with the investigations and still has the diamonds.
I’m sure at this point you’re getting all dizzy with the numbers going on, I am too! One thing I know for sure, Jho Low needs to find a way to return all of the money he has stolen, and I hope that they jail him for life so that it will be a lesson for those evil minded people never to use money that is not yours!