Nicosia, Cyprus. A court on Tuesday ordered authorities to impound a villa belonging to Malaysian-born Jho Low, an internationally wanted fugitive who obtained Cypriot citizenship in 2015 through a real estate investment. The property is located in Ayia Napa and is valued at about €6 million.
Court order and legal basis
According to a statement from the attorney-general’s office, the application to seize the property was filed jointly by attorney-general George Savvides and Mokas, the anti-money laundering agency. The application cited the law for the prevention and suppression of money-laundering activities.
Consent by Low’s lawyers
The statement said lawyers representing Low consented to the application.
First such order without conviction
According to media reports, it is the first time a Cypriot court has ordered the impounding of a property without a conviction. The order was issued by Nicosia district court.
Citizenship and allegations
In June 2024, the cabinet revoked Low’s Cypriot passport. Low, who is accused of looting $4.5 billion from Malaysia’s sovereign wealth fund, was granted Cypriot citizenship in 2015.
Timeline of investigations
Although he was under investigation at the time he received citizenship, Low was not officially a wanted man until October 2016, when Interpol issued a red notice in his name. After the Malaysian elections in 2018, the country’s elected government reopened an investigation and issued arrest warrants against him.
Property purchase
Low bought a seaside mansion in Ayia Napa, securing a Cypriot passport under the now-defunct citizenship-by-investment programme, also known as the golden passports scheme.