Others get away with losing billions, so why pick on me, says Jho Low

Businessman Low Taek Jho, better known as Jho Low, says he should not be blamed for business decisions in 1Malaysia Development Berhad (1MDB) as he has no decision-making power. – File pic, April 14, 2015.

Businessman Low Taek Jho, better known as Jho Low, has defended himself on his role in 1Malaysia Development Bhd (1MDB) in an exclusive interview with business monthly Euromoney.

The Hong Kong-based Low, 33, told the magazine in its April edition: “There are so many other people who get away with ridiculous billions and billions and billions worth of projects. But every single time there seems to be a political attack, wow, suddenly Jho is there again.”

In the interview conducted last month in Hong Kong, Low said he decided to speak out because the 1MDB issue had reached a ridiculous point.

“I feel it’s just gotten to a point where it’s just ridiculous,” he was quoted as saying.

“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’.”

In March, Low denied that he was the 1MDB mastermind and involved in money laundering and fraud in the troubled state investor.

In an exclusive with the South China Morning Post, Low said: “I feel I’m a victim in the cross-fire of Malaysian politics, which is getting more polarised. I’m a target.”

The businessman told the Post that business decisions by 1MDB were ultimately decided and approved in accordance with their corporate governance framework, which was the management, board and shareholders.

“So why politicise and try to blame it all on me when I have no decision-making authority?”

In the Euromoney interview, Low also hit out at Umno, whom he accused of being “spin masters”.

"These Umno guys are spin masters, they know all this sort of nonsense. All these guys go round and round and round and I say: ‘Guys, it’s very simple, there’s a board, who is the shareholder?’”

Prime Minister Datuk Seri Najib Razak is chairman of 1MDB’s advisory board.

- TMI