1MDB amends suit, seeks US$3.8bil now from Jho Low, family

(FMT) – Government-linked company 1Malaysia Development Bhd (1MDB) and its subsidiaries have revised their claim to seek higher damages from fugitive businessman Low Taek Jho, his two siblings, parents and an associate, Eric Tan.

In their amended writ and statement of claim filed last week, the plaintiffs now want US$3.7837 billion from the defendants, compared to the US$1.404 billion sought earlier, according to The Edge.

Two months ago, the plaintiffs sought the amount from Low or better known as Jho Low, his father Larry Low, sister May Lin and Tan.

Now the plaintiffs, who included 1MDB Energy Holdings Ltd (1MDHL), 1MDB Energy Ltd (1MEL), 1MDB Energy (Langat) Ltd (1MELL) and Global Diversified Investment Company Ltd (formerly 1MDB Global Investments Ltd or 1MGIL) have included Jho Low’s mother Goh Gaik Ewe and his brother Taek Szen as additional defendants.

The statement of claim said Jho Low was said to have obtained the funds between Sept 30, 2009 and Nov 7, 2014, while Tan was claimed to have received it between Oct 1, 2009 and Nov 7, 2014.

The rest were alleged to have received money and jewellery between 2009 and 2014.

The plaintiffs alleged the defendants were involved in multiple frauds and are claiming unjust enrichment, fraudulent misappropriation, constructive trust and conspiracy.

They are seeking US$660.75 million from Jho Low alone.

The statement of claim also revealed that Larry received US$979 million from 1MDB and 1MGIL, while May Lin received US$3.5 million from 1MDB between 2009 and 2010.

Taek Szen received the funds from 1MGIL, whereas Goh received the jewellery from 1MEL and 1MELL.

The companies are seeking US$2.136 billion from both Jho Low and Tan, and US$324.75 million from both Jho Low and his father Larry.

They are also seeking another sum of US$3.5 million from both May Lin and Jho Low, and similar orders for aggravated, general and punitive damages against them.

1MGIL is seeking another US$629.6 million jointly from Larry, Jho Low and Tan and US$27.5 million from Taek Szen, Jho Low and Tan.

The court documents also stated that it is seeking US$1.695 million from Goh, Jho Low and Tan following the purchase of jewellery and whatever secret profits.

According to The Edge, lawyer Siva Kumar Kanagasabai, who is acting for the plaintiffs, will attempt to serve the amended writ to all defendants, failing which he may have to apply for substitute service.

A case management has been fixed for Aug 12.