KUALA LUMPUR— Federal police investigations into 1Malaysia Development Berhad (1MDB) found no solid grounds to connect businessman Low Taek Jho to the state owned strategic development company.
In a statement today, Inspector-General of Police Tan Sri Mohamad Fuzi Harun said police initiated their investigations on 1MDB based on the findings of the Public Accounts Committee (PAC) which was tabled in Parliament on April 7, 2016.
“Based on our investigations we found that Low had never worked with 1MDB and that all business decision and transaction related to the company was made by the management and board of directors.
“If any new evidence emerge that shows he is indeed linked we will not hesitate to take action against him,” he said.
He said the US Department of Justice’s decision to seize a luxury yacht Equanimity allegedly belonging to Low better known as Jho Low, transpired from a civil suit against himself, and not the state-owned 1MDB.
Mohamad Fuzi said police did not received any information from its Indonesian counterpart in relation to the seizure of the yacht on Indonesian waters on February 28.
“We were not contacted by any parties to assist with the probe in relation to the yacht seizure,” he said.
A police team to probe 1MDB-linked was formed on April 8, 2016, the team initiated investigation under Section 409 of the Penal Code and Section 420 of the same code to see if there is any element of breach of trust or fraud.