Advertisement
1MDB fugitive Jho Low’s Beverly Hills hotel on sale for US$100 million
- The boutique Viceroy L’Ermitage Beverly Hills hotel has 116 rooms, a rooftop pool and jet-setting clientele
- Interested? Give the US government a bell
2-MIN READ2-MIN
A boutique hotel, with 116 rooms, a rooftop pool and jet-setting clientele, owned by fugitive Malaysian financier Low Taek Jho, who is involved in the 1Malaysia Development Berhad (1MDB) scandal, is up for sale at over US$100 million.
According to The New York Times, the previous owner spent US$40 million on renovations before becoming an international fugitive.
“If that sounds like a steal – even in the middle of a global pandemic that has nearly ground travel to a halt – the Viceroy L’Ermitage Beverly Hills could be yours. Just contact the US government,” said the report.
Advertisement
Prosecutors moved to seize the hotel, about a mile from Rodeo Drive, in 2016 as part of a long-running investigation into one of the biggest foreign bribery and kleptocracy cases in history: the looting of more than US$2.5 billion from a Malaysian sovereign wealth fund, 1MDB.
Advertisement
The property was commandeered from Low, or better known as Jho Low, a financier turned fugitive whom authorities in the United States and Malaysia described as the architect of a brazen scheme that also ensnared a prime minister and one of Wall Street’s most powerful banks, Goldman Sachs.
Advertisement
Select Voice
Select Speed
1.00x