[PHOTOS] All These Ultra-Luxurious Assets Were Allegedly Bought With 1MDB Funds
An astonishing list.
By Tang Ruxyn — 22 Jul 2016, 06:31 PM
By now you should have already heard that the U.S. Department of Justice (DOJ) filed a lawsuit to seize dozens of properties tied to 1MDB on Wednesday, 20 July
1. Bombardier Jet
Malaysian businessman Jho Low has allegedly bought a Bombardier jet in 2010 for about USD35.3 million by misappropriating funds from 1MDB.
The DOJ identifies the aircraft as a Bombardier Global 5000, bearing manufacturer serial number 9265 and registration number N689WM, with two Rolls-Royce engines bearing manufacturer’s serial numbers 12487 and 12488.
2. Greene Condominium, New York
According to the DOJ, Low bought this luxury condominium in New Yorks' SoHo district in February 2014.
Low allegedly spent USD13.8 million for this condominium.
3. Hillcrest Property 1 & 2, Beverly Hills, California
The DOJ said that Riza Aziz, Prime Minister Datuk Seri Najib Razak's wife, Datin Seri Rosmah Mansor's son purchased 'Hillcrest Property 1' from Low using 1MDB funds. He allegedly spent USD17.5 million for the property in 2010.
According to Sarawak Report, the property sprawls over 11,500 square feet and has 5 bedrooms and 10 bathrooms.
Besides that, the DOJ has alleged that Khadem Abdulla Al Qubaisi has misappropriated funds from 1MDB to acquire 'Hillcrest Property 2'. Khadem is the former managing director of the massive International Petroleum Investment Company (IPIC).
It was said that the property was purchased on 24 March for USD15 million.
4. Laurel Beverly Hills Mansion, Beverly Hills, California
The DOJ has alleged that Khadem has misappropriated funds from 1MDB to purchase the Laurel Beverly Hills Mansion.
It was said that the property was purchased for USD31 million on or about 5 February 2014. The property is currently on the market and is listed for USD38 million.
5. The L’Ermitage Property, Beverly Hills, California
The DOJ's court document states that Low purchased The L'Ermitage Property, a luxury hotel, using funds that were diverted from 1MDB.
This luxury hotel, managed by the Viceroy Group, was bought by a company called Wynton Real Estate in January 2010.
According to the DOJ, documents from Jho Low confirmed that L'Ermitage Property was wholly-owned by his own investment fund, Jynwel Capital Ltd, where he served as the chief executive officer (CEO).
6. Oriole Mansion, Beverly Hills, California
Adding to his list of lavish properties, Low is said to have spent about USD39 million on another mansion in Beverly Hills that once belonged to 'Fantasy Island' actor Ricardo Montalban.
The DOJ said that according to a notice of completion filed with the LA Recorder's Office on 29 July 2013, various upgrading works including the construction of a gym and audio visual upgrade were carried out at the mansion.
7. Park Lane Hotel (Symphony CP (Park Lane) LLC Assets)
The DOJ filing asserts that USD200 million of misappropriated funds were used by Low and his brother, Szen Low, to acquire an interest in an entity called Symphony CP, a partnership between New York real estate company the Witkoff Group and Jynwel.
The 47-story Park Lane Hotel on Central Park South was bought for USD660 million in November 2013.
hollywoodreporter.com
8. Park Laurel Condominium, New York
The penthouse, No. 29A, a sprawling 15-room combination of three units designed by the architect Alan Wanzenberg for a previous owner, occupies 7,738 square feet of interior space and has a 1,244-square-foot wraparound trophy terrace that faces south and captures both park and city views.
There are seven bedrooms, five bathrooms, two powder rooms and a personal elevator entrance.
Low allegedly spent USD24 million to acquire the lavish penthouse.
9. Qantas Townhouse, Belgravia, London
The DOJ believes that Riza bought the Qantas Townhouse and a parking space using 1MDB funds.
Riza apparently paid about £23.25 million (USD41.8 million) for the Qantas Townhouse in 2012.
10. Time Warner Penthouse, New York
Once home to the celebrity couple Jay Z and Beyoncé, the 76th-floor penthouse was bought by Low who allegedly used funds diverted from 1MDB.
He paid USD30.5 million for the property in 2011.
It was reported that Hollywood actor Robert De Niro's son, Raphael De Niro of Douglas Elliman Real Estate oversaw the sale, which is still listed as the highest yielded price per square foot at the Time Warner Center.
Aside from these properties, the following items were also listed in the DOJ's court document.
The Swiss authorities, acting on the United State's request, have seized these paintings yesterday, 21 July.
1. Claude Monet's 'Nympheas Avec Reflets de Hautes Herbes' painting
The DOJ is also seeking to seize the rights to Oscar-nominated film 'The Wolf of Wall Street' and record label EMI
Red Granite Pictures, a Hollywood studio co-founded by Riza, owns the rights to 'Wolf of Wall Street'. However, it was alleged that funds from 1MBD were used for Red Granite's operations, including the production of the film 'The Wolf of Wall Street'.
The DOJ also asserts that funds diverted from 1MDB were used by Low to acquire an interest in EMI Music Publishing.
Thus, the DOJ seeks to seize a total of 17 assets allegedly obtained using funds illegally diverted from 1MDB "for the personal benefit of the co-conspirators (and) their associates".