Ever wondered how a Malaysian financier, Jho Low, ascended from obscurity to hosting star-studded parties with the likes of Kanye West and Leonardo DiCaprio? How did he manage to siphon off over $1 billion from 1MDB bonds facilitated by Goldman Sachs? What led to his eventual downfall in one of the biggest financial scandals in history? Dive into this captivating saga of ambition, excess, and power that ends in a dramatic unraveling.

Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World

On a warm November night in 2012, Pras Michél, former member of the American hip hop, Fugees, approached the Chairman Suites at the Palazzo hotel. Inside, a man in a black tuxedo greeted him warmly. This was Jho Low, a soft-spoken Malaysian billionaire. The $25,000-a-night suite was just the beginning of Low's extravagant 31st birthday celebration.

Low's mysterious aura captivated his eclectic mix of global guests, including Leonardo DiCaprio and Swizz Beatz. Despite his unassuming appearance, rumors swirled about his immense wealth and high-stakes business deals, such as his acquisition of a stake in EMI Music Publishing and financing DiCaprio’s film "The Wolf of Wall Street."

Low's rise was marked by calculated ambition. Though socially awkward, he networked relentlessly, cultivating relationships with Hollywood stars, top bankers, and Middle Eastern elites. His connections earned him a seat among the world's elite, where he now played the role of benefactor.

The real party began later that night. Guests, including Kanye West and Kim Kardashian, were whisked away in limousines to a secret venue resembling an aircraft hangar. Inside, a lavish circus-themed party awaited, complete with a Ferris wheel, carousel, and acrobats. Celebrities mingled, amazed by the opulence.

Low's inner circle, including DiCaprio and Martin Scorsese, enjoyed performances by Jamie Foxx, Britney Spears, and many others. Spears even serenaded Low from a giant faux wedding cake. The night culminated with extravagant gifts, including a Bugatti Veyron and a Lamborghini.

This event was the pinnacle of Low's influence. But behind the scenes, Low's wealth came from a series of audacious global financial schemes, involving billions of dollars in Malaysian government money. Enabled by his connections and obscure origins, Low infiltrated the highest echelons of power and finance.

Low's story epitomizes the manipulation of global finance in the 21st century and the failure of capitalism to address such excesses. As the FBI continues to unravel his complex schemes, Low has disappeared, leaving behind a legacy of one of the most extravagant and enigmatic figures in recent history.

Did Jho Low's Lavish Parties with Leonardo DiCaprio and Kanye West Mask a Global Financial Scandal?

In August 2008, Washington, D.C., was buzzing with news that UAE ambassador Yousef Al Otaiba and his partner, Shaher Awartani, were about to make $10 million from a deal set up by the enigmatic Malaysian businessman, Jho Low. 

Awartani even joked about celebrating with a Ferrari 458 Italia, though Otaiba warned against attracting too much attention. This was understandable, as Otaiba, then in his mid-thirties, was fast becoming a prominent figure in Washington, hosting glittering dinners and gatherings with influential guests.

Otaiba’s dealings with Low were particularly discreet. Low, only 27, was a master at navigating financial and political landscapes. He had devised a convoluted yet brilliant scheme to profit from Malaysia's Iskandar project by acquiring Malaysian construction companies and creating the illusion of backing from Middle Eastern sovereign wealth funds. He set up offshore entities in the British Virgin Islands and Seychelles, taking advantage of their secrecy to attract loans and investments.

Low’s ambition didn’t stop there. He soon set his sights on establishing a sovereign wealth fund in Malaysia. After Najib Razak became Malaysia’s Prime Minister in 2009, Low managed to convince him to transform the Terengganu Investment Authority into 1Malaysia Development Berhad (1MDB), promising massive Middle Eastern investments. Low's charm and connections were compelling, and he even arranged for Najib to meet with supposed Saudi royalty, represented by Prince Turki and Tarek Obaid of PetroSaudi.

In a whirlwind few months, Low orchestrated a $1 billion joint venture between 1MDB and PetroSaudi. However, much of this money was funneled into a Seychelles company, Good Star Ltd., which Low controlled. This was just the beginning of an audacious scheme that saw millions diverted into personal accounts, including that of Najib's associates. Low's ability to avoid detection and manipulate high-profile figures was remarkable, and he soon became a fixture at elite gatherings, basking in his newfound wealth.

As the money flowed, Low and his partners indulged in lavish lifestyles, buying luxury properties, and throwing extravagant parties. It was a high-stakes game, and Low’s knack for improvisation kept him ahead, but the looming threat of exposure never quite dissipated. 

By the end of 2009, Low had established himself as a force to reckon with in the financial world, his reputation built on a web of deceit and masterful manipulation. His story was just beginning, with more audacious schemes and high-profile connections waiting in the wings.

The High-Stakes World of Jho Low: Power, Wealth, and Deception

In October 2009, the young, glamorous Playmates found themselves in an air of mystery at the Palazzo in Las Vegas. They had been hired for an event but knew little about their host. The party was an early birthday celebration for Jho Low, an enigmatic figure who had just secured $700 million from the 1MDB fund. Hollywood actor Leonardo DiCaprio was among the attendees, adding to the intrigue.

Low, known for his massive spending, handed out $1,000 chips to each Playmate and guided the party to the opulent Chairman Suites. Security was tight, with models handing over their belongings and signing nondisclosure agreements. Despite the high security, the atmosphere was somber, not the wild party one might expect. Low's shyness was palpable even as he tried to engage with the models.

This night was just a glimpse into Low's extravagant lifestyle. With access to vast sums of money, he embarked on a spree of lavish spending and networking. From massive bar tabs in New York clubs to private jets and superyachts, Low's spending was unprecedented. His goal was to build a reputation among the rich and famous, throwing parties that even Hollywood stars would envy.

Low's tactics extended beyond partying. He cleverly manipulated financial systems, using law firms' trust accounts to move money discreetly. By the end of 2009, he had funneled millions into the U.S. through these accounts, masking the origins of his funds.

His ambition wasn't just to spend but to create a business empire. He made connections with influential figures like Khaldoon Al Mubarak of Mubadala, using these relationships to secure deals and investments. Low's spending wasn't limited to parties; he acquired luxury properties in New York, London, and Los Angeles, often for the use of Prime Minister Najib Razak and his family.

Despite his ostentatious lifestyle, Low remained a mystery, his true intentions and origins of his wealth shrouded in secrecy. His rise to the top involved intricate financial maneuvers and a relentless pursuit of high-status connections.

Low's ability to navigate complex financial landscapes and his relentless spending spree made him a unique figure in the world of high finance and celebrity. His story is a blend of ambition, extravagance, and a keen understanding of how to use money to build influence and power.

Did Jho Low Fool Hollywood and the World with His Billion-Dollar Party Lifestyle?

In April 2010, as Najib visited New York, the U.S. was engulfed in a financial crisis that spread to Europe, causing job losses, home foreclosures, and deep recession. The "Occupy Wall Street" protests reflected anger at banks like Goldman Sachs, accused of unethical practices. 

Goldman’s CEO Lloyd Blankfein faced hostile U.S. senators, notably Carl Levin, who questioned Goldman’s sale of subprime mortgage-backed securities while betting against them. Levin highlighted emails describing these securities as "shitty" and "junk," raising ethical concerns.

The financial crisis rooted in the U.S. housing market saw banks package subprime loans into securities sold to investment funds. Goldman, under Blankfein and Gary Cohn, pushed subprime products but also bet against the housing market, a strategy later called the "Big Short." When the housing bubble burst in 2007, these securities failed, leading to the collapse of Bear Stearns and Lehman Brothers and a $700 billion government bailout.

Blankfein defended Goldman, claiming clients still believed in the housing market in 2007. However, Goldman’s 2009 profit soared to $13.4 billion, contrasting with widespread suffering. Senator John McCain asked Blankfein about his $9 million bonus, highlighting the disconnect. The SEC sued Goldman for withholding information from a German bank, leading to a $550 million settlement, the largest in a civil case by a Wall Street firm.

Congress responded to the crisis with the Dodd-Frank Act, including the Volcker Rule to restrict speculative trading. Despite banks' resistance, the crisis led to scrutiny and regulatory changes. Goldman, seeking new opportunities, turned to emerging markets, with Andrea Vella in Hong Kong focusing on complex derivatives.

Vella, working with Goldman’s Tim Leissner, managed deals in Asia, including a controversial bond issue for Sarawak, Malaysia. Goldman profited significantly, but an NGO, Global Witness, questioned the ethics, linking funds to corruption. This relationship set the stage for Goldman’s future dealings with Malaysia's 1MDB fund.

In 2010, Low’s extravagant spending, including a $2 million champagne spree in Saint-Tropez and lavish dates, drew attention. Despite warnings from allies, Low continued his high-profile lifestyle. Goldman’s Leissner, overlooking earlier concerns, sought to involve Goldman in 1MDB’s lucrative ventures.

By 2011, Low used 1MDB funds to finance Hollywood projects, including "The Wolf of Wall Street." He formed Red Granite Productions with Riza Aziz and Joey McFarland, leveraging connections with stars like Leonardo DiCaprio. Despite skepticism, Hollywood embraced the money.

Low’s partnerships extended to Abu Dhabi’s Aabar Investments, leading to more deals and personal profits. However, his reckless behavior and mounting losses threatened the stability of his schemes.

Combining lavish parties, high-stakes deals, and regulatory scrutiny, this period highlighted financial sector greed, regulatory failures, and the intersections of wealth, politics, and entertainment.

Greed, Glamour, and Goldman Sachs: The Financial Crisis Unveiled

In April 2011, Xavier Justo, an imposing and tattooed PetroSaudi employee, met with Patrick Mahony in the luxurious Connaught bar in London to discuss his long-overdue severance. 

Justo demanded 6.5 million Swiss francs for his efforts in establishing PetroSaudi's London office. Despite a temporary agreement for 5 million francs, the amount was later reduced to 4 million, leaving Justo feeling cheated. Furious with the betrayal and sensing something amiss in the PetroSaudi-1MDB joint venture, Justo obtained crucial data from the company's servers, which would later expose a massive fraud.

By March 2011, Jho Low, the mastermind behind the 1MDB scandal, was eyeing a lavish New York penthouse once rented by Jay-Z and Beyoncé. Low purchased the 4,825-square-foot penthouse for $30.5 million in cash, hiding his involvement through a series of complex financial maneuvers and shell companies. The acquisition was part of his grand plan to establish himself as a billionaire investor and movie mogul in the United States.

Going back, in late 2009, Hanspeter Brunner, frustrated with his employer Coutts International, orchestrated a mass defection of over a hundred bankers to BSI, a struggling Swiss bank. Among them was Yak Yew Chee, who managed accounts for Jho Low. BSI’s lax compliance allowed Low to move billions through its accounts, masking the origins of the funds. This partnership became instrumental in facilitating the 1MDB money laundering scheme.

In December 2011, BSI banker Yeo Jiawei met with Amicorp to set up intricate fund structures to launder 1MDB's money. Through a series of convoluted transactions, including the use of a mutual fund in Curaçao, Yeo helped Low disguise the origins of $1.8 billion. These funds were moved through various shell companies, ultimately creating the illusion of legitimate investments while hiding massive thefts.

In March 2012, Tim Leissner of Goldman Sachs secured a deal with Sheikh Mansour of Abu Dhabi to guarantee $3.5 billion in bonds for 1MDB. The deal, facilitated by Low and Khadem Al Qubaisi, was designed to siphon off funds under the guise of acquiring power plants. Goldman earned exorbitant fees from the bond sales, while substantial amounts were diverted to look-alike companies controlled by Low and Al Qubaisi.

Goldman Sachs' involvement in the 1MDB bond sales resulted in massive profits for the bank but raised numerous red flags. The funds were funneled through complex schemes involving fake companies and compliant banks like BSI and Falcon Private Bank. Despite internal concerns and external scrutiny, the deals proceeded, enriching the conspirators and financing lavish lifestyles and projects like the film "The Wolf of Wall Street."

These stories unravel the intricate web of deceit, betrayal, and financial manipulation that characterized the 1MDB scandal. From swanky London bars to opulent New York penthouses and secretive Swiss banks, the story showcases how greed and corruption can infiltrate the highest levels of finance and government, leaving a trail of devastated reputations and stolen billions.

How Did Jho Low and Goldman Sachs Pull Off the 1MDB Heist?

In July 2012, aboard the opulent 440-foot superyacht Serene in the French Riviera, Jho Low was on a high. He had just acquired a stake in EMI Music Publishing through his company, Jynwel Capital, and was ready to host a grand party. 

The yacht, complete with luxurious amenities like a whirlpool bath, sauna, and a grand piano, served as the perfect backdrop for Low's celebration. Noah Tepperberg and Jason Strauss, known for their expertise in event planning, ensured everything was set for the star-studded guest list, which included Kanye West, Rihanna, Chris Brown, and Leonardo DiCaprio.

As the party raged on with performances and glamorous guests, Low basked in his newfound status as an entertainment mogul. His company, Red Granite, was set to begin filming "The Wolf of Wall Street," further solidifying his influence in Hollywood. Low's journey from being rejected for a Swiss bank account to hosting lavish parties with A-list celebrities was a testament to his meteoric rise.

However, behind the scenes, Low's financial dealings were far from transparent. He had siphoned off over $1 billion from the 1MDB bonds facilitated by Goldman Sachs. To mask the origins of the funds, he employed complex schemes involving offshore shell companies and secret accounts. Despite the risky maneuvers, Low continued to build his media empire, aiming to generate legitimate profits to repay 1MDB.

In August 2012, as filming for "The Wolf of Wall Street" commenced, Low's influence grew. He hobnobbed with Hollywood elites, financed extravagant gifts like Marlon Brando's Oscar for Leonardo DiCaprio, and acquired multimillion-dollar collectibles. Yet, his relentless quest for wealth and status came with increasing scrutiny.

Low's opulent lifestyle and questionable financial practices eventually attracted attention from journalists and investigators. Reports on Goldman's exorbitant profits from the 1MDB bonds and Low's role in the fund's dealings began to surface. Despite the growing scrutiny, Low remained undeterred, continuing to indulge in lavish parties and high-profile acquisitions.

By 2013, as Malaysia's elections approached, Low's financial machinations reached new heights. He funneled massive amounts of money to support Prime Minister Najib Razak's campaign, further entangling himself in a web of corruption and deceit. Despite the electoral victory, the consequences of Low's actions loomed large, setting the stage for a dramatic unraveling of one of the biggest financial scandals in history.

Hollywood Glamour and High-Stakes Scandal: The Meteoric Rise and Fall of Jho Low

In May 2013, Jho Low was on edge as he placed a daring $37.5 million bid on Jean-Michel Basquiat's painting, "Dustheads", at a Christie’s auction in New York. The painting ultimately sold for $48.8 million, marking a record for Basquiat. 

Low’s extravagant purchase was a celebration of Malaysian Prime Minister Najib’s election victory, financed through Low's shell company, Tanore, which had received over $1.2 billion from a Goldman Sachs bond. This was part of a larger scheme where billions were misappropriated from Malaysia's 1MDB fund.

Low's audacious spending spree included not just art but also real estate and jewelry. He stored his art collection in the Geneva Freeport, a tax-haven warehouse, highlighting the secrecy and luxury of his acquisitions. Yet, behind the glamorous facade, Malaysia was suffering, with 60% of households earning less than $1,600 a month, and the 1MDB fund accruing $10 billion in debt.

Low’s spending continued unabated, culminating in a $27.3 million diamond necklace for Rosmah Mansor, Najib's wife. This was part of a broader pattern of using laundered money for high-profile acquisitions, including a $654 million bid for the Park Lane Hotel in New York. As Low masked his illicit gains through such investments, his web of financial deceit grew more complex.

Meanwhile, former PetroSaudi employee Xavier Justo, who held crucial evidence of the 1MDB fraud, was negotiating with PetroSaudi for a payout. Unsuccessful, he began seeking other avenues to expose the corruption. Clare Rewcastle-Brown, a British journalist passionate about exposing corruption in Malaysia, started to investigate Red Granite Pictures, the film company linked to Najib's stepson Riza Aziz. Her inquiries unveiled further layers of deceit, suggesting that Low's and Aziz’s extravagant lifestyles were funded by misappropriated 1MDB money.

As Low’s empire expanded, involving key figures and institutions, the fragile facade of legitimate business dealings masked one of the largest financial frauds in history.

Was Jho Low's $48.8 Million Basquiat Bid the Tip of a 1MDB Corruption Iceberg?

On a frigid night in December 2013, the Ziegfeld Theater in Midtown Manhattan buzzed with excitement for the premiere of "The Wolf of Wall Street". The red carpet saw the likes of Leonardo DiCaprio, Margot Robbie, and Jonah Hill, alongside Jho Low, a Malaysian financier who had risen to prominence and bankrolled this flashy Hollywood film about a fraudster.

Low's journey from obscurity to rubbing shoulders with Hollywood elite was nothing short of extraordinary. He celebrated his success with a host of guests, including family, friends, and business partners. Notably, he gifted DiCaprio a $3.3 million Picasso painting and a $9.2 million Basquiat piece, deepening their bond.

The film's release, however, wasn't without controversy. Critics argued it glamorized Jordan Belfort's fraudulent ways rather than serving as a cautionary tale. DiCaprio retorted, describing it as an indictment of Wall Street's greed and the culture's insatiable desire for wealth.

As the premiere buzzed, Clare Rewcastle-Brown, a journalist, released an exposé questioning the film's financing, hinting at Low's involvement and his ties to Malaysian political figures. The scrutiny intensified, but Red Granite, the production company, denied any wrongdoing.

DiCaprio's whirlwind schedule saw him attending the Academy's power lunch at the Four Seasons and later flying to Washington, DC, to deliver a DVD of the film to President Obama. The meeting, arranged by Frank White Jr., a top Obama fundraiser, symbolized Low's ambitious reach into U.S. political circles.

Low's network expanded as he courted Hollywood and political elites, leveraging friendships to gain influence. He even funded Obama's re-election campaign through intermediaries, securing his presence at exclusive events, including the White House holiday party.

Despite the glamorous facade, cracks began to show. Investigations into 1MDB, the Malaysian state fund, revealed financial irregularities and mounting debt. Auditors Deloitte and KPMG flagged concerns, and opposition politicians like Tony Pua demanded transparency.

Low's extravagant lifestyle and business dealings, including a $250 million superyacht, reflected his reckless spending. His paranoia grew as leaks about 1MDB's finances surfaced, leading him to recruit trusted associates to manage sensitive transactions.

As 1MDB's financial woes deepened, Low's grip on his empire weakened. His lavish investments, including The Wolf of Wall Street, stood in stark contrast to the looming crisis. The tale of Jho Low and his audacious rise and fall became a modern parable of ambition, excess, and the elusive pursuit of power.

Leonardo DiCaprio, Jho Low, and the Scandal Behind 'The Wolf of Wall Street'

In June 2014, Clare Rewcastle-Brown, the journalist behind the Sarawak Report blog, met Xavier Justo, a former employee of PetroSaudi, in Bangkok. Justo had documents proving the corruption involving 1MDB and Jho Low, but he demanded $2 million for them. Despite her connections, Rewcastle-Brown couldn't raise the money immediately. It took seven months to secure a benefactor, just as Jho Low's lavish lifestyle was starting to draw attention.

Low, meanwhile, was distracted by his romance with Miranda Kerr, showering her with expensive jewelry bought with misappropriated 1MDB funds. His focus on such indulgences rather than handling the intricacies of his illegal operation began to unravel his scheme. By late 2014, financial pressures mounted, and Low was forced to cover up his tracks by repeatedly cycling the same money through various entities to make it appear as if the fund’s investments were solid.

In March 2015, Clare Rewcastle-Brown published damning evidence of Low’s theft from 1MDB. The exposé set off a political storm in Malaysia, leading to an internal investigation by the country's National Audit Department. The situation escalated when the Wall Street Journal reported that $681 million had been funneled into the Prime Minister Najib Razak's accounts, triggering a global scandal.

Najib, facing immense pressure and risk of arrest, took drastic measures. He fired government officials, suspended investigations, and clamped down on the media. Despite widespread protests and calls for his resignation, Najib maintained his grip on power, transforming into a strongman to stave off the political crisis.

As the scandal continued to unfold, Jho Low, increasingly cornered, began frantically moving his assets and seeking new places to hide his money, including trying to purchase a bank. In a desperate move, he even obtained a passport from St. Kitts and Nevis. Meanwhile, former allies like Khadem Al Qubaisi of Abu Dhabi were facing their own downfalls due to their involvement in the 1MDB affair.

By late 2015, Malaysia was in turmoil, with mass protests demanding clean governance, while Najib's administration responded with authoritarian measures to suppress dissent. The 1MDB scandal had not only exposed massive corruption but also reshaped the country's political landscape, with lasting implications for its governance and international reputation.

How Did Jho Low's Lavish Lifestyle and Miranda Kerr Romance Unravel the 1MDB Scandal?

In September 2015, Kevin Morais, a diligent prosecutor in Malaysia, vanished on his way to the Anti-Corruption Commission. Morais, who had been deeply involved in a high-profile corruption case against Prime Minister Najib, feared for his safety. His anxiety turned out to be justified. 

His car was rammed off the road, and he was abducted, later found murdered and encased in concrete. This chilling event sent shockwaves through the Anti-Corruption Commission, sparking fear among its members but also a relentless pursuit of justice.

In New York, Special Agent Bill McMurry and his team began investigating the 1MDB scandal, a massive financial fraud involving billions of dollars. McMurry, known for his work on international corruption, saw the case as significant due to its scale and the involvement of high-profile figures like Najib and financier Jho Low. The FBI's probe was part of a broader U.S. effort to combat kleptocracies. Despite resistance from Najib's administration, McMurry's team made progress, uncovering crucial financial trails and collaborating with global agencies.

Meanwhile, Jho Low, the man at the center of the scandal, continued his extravagant lifestyle, hosting lavish parties aboard his yacht and in exclusive ski resorts. Yet, behind the facade of luxury, Low was panicking. 

With investigations closing in from multiple countries, he worried about his safety and instructed his inner circle to maintain secrecy. Despite the mounting evidence, Low's celebrity friends, including Hollywood figures like Swizz Beatz and Alicia Keys, remained loyal, seemingly unfazed by the allegations. However, as the investigation intensified, the cracks in Low's empire began to show.

As the walls closed in, Low turned to China, desperately seeking support to protect his dwindling empire, setting the stage for an international showdown in the fight against corruption.

From Malaysia to Manhattan: The Global Pursuit of 1MDB Scandal's Key Players

In April 2016, Jho Low found himself exiled in Shanghai, China, living a lavish life despite being hounded by the FBI. From his residence at the Peninsula Hotel, Low enjoyed a stunning view of Shanghai's skyline. Yet, he was embroiled in a desperate bid to save his crumbling empire from U.S. legal troubles. 

Major banks were shunning him, and Wells Fargo refused to finance his Park Lane project in New York. Low's solution was to sell his stake to a Kuwaiti royal and bring in the state-owned Greenland Group from Shanghai to fund the project.

Meanwhile, Low was liquidating assets, including selling his Basquiat painting "Dustheads" and other art pieces at fire-sale prices. As the Wall Street Journal exposed his involvement in the 1MDB scandal, Low became increasingly elusive, disappearing from his hotel in Shanghai and evading reporters in Hong Kong.

The scandal strained Malaysia's relations with countries like Saudi Arabia and Abu Dhabi, and Prime Minister Najib Razak turned to China for financial support. Chinese state-owned companies agreed to buy 1MDB's assets, helping to alleviate some of the fund's massive debt. This marked a shift in Malaysia's alliances, as Najib distanced himself from the U.S. and embraced China's expanding influence.

In July 2016, U.S. Attorney General Loretta Lynch announced the largest-ever asset seizure under the Kleptocracy Initiative, targeting over $1 billion in assets tied to 1MDB. This included properties, a private jet, and proceeds from the film "The Wolf of Wall Street." The lawsuit named Jho Low and others, sending shockwaves through Najib's circle, who never expected the U.S. to act so boldly.

While Low remained free, his assets were frozen, and he avoided the U.S. as criminal proceedings loomed. The FBI praised the Malaysian Anti-Corruption Commission for its courage in secretly aiding the investigation. However, the global push against corruption was still met with skepticism as Low continued to live in luxury in China and Thailand.

Goldman Sachs, embroiled in the scandal, faced internal turmoil as compliance executives discovered evidence against banker Tim Leissner, who had clandestinely supported Low. Despite high-level awareness of Low's role, Goldman initially stood by its actions. Leissner eventually resigned, feeling betrayed by the firm.

As the Justice Department pursued criminal charges, the scandal's reach extended to various countries, with Singapore, Switzerland, and Abu Dhabi launching their own investigations. In Abu Dhabi, Khadem Al Qubaisi and Mohamed Al Husseiny were detained, marking a rare moment of accountability.

By 2017, Low's situation became even more precarious. The Justice Department's criminal investigation intensified, and Singapore banned Leissner from its financial industry. Despite these actions, Low continued to evade capture, living in opulence and throwing extravagant parties, all while plotting his next move.

In May 2018, Najib Razak suffered a shocking election defeat, leading to his and his family's arrest. As Malaysia's new government reopened the 1MDB investigations, Low went underground, fearing extradition. With the net closing in, Low faced an uncertain future, clinging to hopes of finding refuge in China.

Can Jho Low's Lavish Life in Exile Outrun the Long Arm of Global Justice?

On a warm November evening in 2012, Pras Michél, a former Fugees member, found himself in the lavish Chairman Suites of the Palazzo hotel. There, he met Jho Low, a soft-spoken Malaysian billionaire who was celebrating his 31st birthday with an extravagance that included stars like Leonardo DiCaprio and Swizz Beatz.

The night featured a circus-themed party complete with a Ferris wheel, carousel, and performances by Britney Spears and Jamie Foxx. Low’s connections to Hollywood and finance were impressive, but behind his glamorous facade lay a web of audacious financial schemes involving billions from Malaysia's 1MDB fund.

Low's journey to the top was marked by relentless networking and leveraging connections, including funding "The Wolf of Wall Street" and purchasing luxury properties worldwide. Despite his shy demeanor, his parties were legendary, and his spending unmatched, like the time he splurged $2 million on champagne in Saint-Tropez.

However, Low's financial empire was built on corruption. In 2008, he maneuvered investments in Malaysia's Iskandar project, creating an illusion of Middle Eastern backing through complex offshore structures. By 2009, he convinced Malaysian Prime Minister Najib Razak to transform a state fund into 1MDB, which he used for personal gain, diverting funds through secretive transactions.

As scrutiny intensified, Low's opulence drew attention. In 2013, he bought a $48.8 million Basquiat painting to celebrate Najib's election victory, financed through misappropriated 1MDB funds. While Malaysia struggled with economic hardships, Low's extravagant lifestyle continued unabated.

In 2014, journalist Clare Rewcastle-Brown began investigating Low, uncovering the scale of his corruption. By 2015, damning evidence emerged, leading to international probes. Despite efforts to maintain secrecy, the scandal's fallout was immense, with Najib firing officials and clamping down on dissent to stay in power.

As investigations closed in, Low's paranoia grew. By 2016, U.S. authorities announced the largest asset seizure in history, targeting over $1 billion linked to 1MDB. Low's assets were frozen, and he went into hiding, living a life of luxury in China and Thailand while evading capture.

In 2018, Najib's election defeat led to his arrest and a renewed investigation into 1MDB. Low's future became increasingly uncertain as he sought refuge, clinging to his connections in China.

Jho Low's story is a modern parable of ambition, excess, and the far-reaching consequences of unchecked financial manipulation. His rise and fall highlight the intricate dance between wealth, power, and the pursuit of influence in the 21st century.

Home

Trending Books

News & Mags

Relax

Curated

Collections

Key Ideas & Notes

Insights

Highlights & Bookmarks

Listening History

Key Ideas

#1