Flamboyant tycoon Low Taek Jho has denied all involvement in the financial predicament facing 1 Malaysia Development Bhd (1MDB), saying in an interview with Euromoney that the attacks against him are just “crazy” and “ridiculous.”
“I feel it’s just gotten to a point where it’s just ridiculous,” he told the financial news magazine published in its April edition out now.
“There are all these guys with their arrows out on me. There seems to be a very, very coordinated attempt to say: ‘This young Chinaman, it’s all his fault, he caused the failure of 1MDB and apparently he advised the PM and everything is screwed up now’.”
The interview with Low was conducted in March at his office in Hong Kong.
Low told the magazine that he is “just constantly being gunned down” and that he has “never faced this kind of attack from all directions.”
“It's just crazy, and these Umno guys are spinmasters, they know all this sort of nonsense.” he said.
Low’s interview has prompted fresh demands by Umno Youth for the billionaire to be investigated over his alleged role in 1MDB, and to be punished if found guilty.
According to Euromoney, much of the speculation around Low’s involvement in 1MDB relates to his role in its predecessor, the Terengganu Investment Authority (TIA), the state fund he devised with the state’s royals that was later taken over by the federal government.
The young tycoon, popularly known as Jho Low, told US business channel CNBC last month that he is being made a political scapegoat in the 1MDB controversy due to his longtime friendship with Prime Minister Datuk Seri Najib Razak’s stepson, Riza Aziz.
Najib last month ordered the Auditor-General and Public Accounts Committee to investigate 1MDB, amid growing demands for explanations over the firm's allegedly opaque investment decisions and for amassing a reported RM42 billion debt pile.
The move did not convince former prime minister Tun Dr Mahathir Mohamad who is critical of 1MDB and Low’s alleged involvement with the firm.
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