Villa bought by fugitive Malaysian Jho Low goes to auction after Cyprus court order

Local corruptiongolden passportspropertiesTop News Villa bought by fugitive Malaysian Jho Low goes to auction after Cyprus court order Jho Low Cyprus Relevant News Villa bought by fugitive Malaysian Jho Low goes to auction after Cyprus court order 9 June 2026 Car or bus? What you need to know about getting around Cyprus 9 June 2026 Elderly woman lay dead in Larnaca flat for months before neighbours raised alarm 9 June 2026 Fanis Makrides 9 June 2026 FacebookXWhatsAppEmailPrintViber Cyprus’s anti-money laundering unit has secured a court order to auction a luxury seafront villa belonging to fugitive Malaysian businessman Jho Low — in what is believed to be the first time such a forfeiture order has been issued in Cyprus against a person without a prior criminal conviction. The Unit for Combating Money Laundering (MOKAS) and the Law Office of the Republic brought the application before the Nicosia District Court, which approved it. The order was drawn up on Monday. The property is Low’s villa in Cavo Greco, Ayia Napa, purchased for approximately €5 million and reportedly built on land belonging to the Church of Cyprus, according to Philenews. It is not yet clear whether the proceeds from the sale will be transferred to Malaysia, which has launched international legal proceedings against Low over his alleged role in the 1MDB scandal. Low is wanted by Interpol on red notices issued at the request of Singapore and Malaysia, Cypriot police confirmed, according to Philenews. He faces charges of dishonestly receiving stolen property and money laundering in Singapore, and abuse of power and money laundering in Malaysia. Cyprus’s Cabinet stripped Low of his Cypriot citizenship in May 2023 — a process that concluded in June 2024 after Low’s appeal was rejected. Low had obtained his Cypriot passport in September 2015 through the now-defunct Cyprus Investment Programme after purchasing the Ayia Napa villa. An investigation into the case examined the role of the late Archbishop Chrysostomos II, who received a €300,000 cheque from Low and sent a letter of recommendation supporting his citizenship application. The Archbishop returned the cheque when the scandal broke and police found no evidence of corruption. The 1MDB scandal centres on the alleged misappropriation of at least $4.5 billion from Malaysia’s state investment fund between 2009 and 2015 and is considered one of the largest financial crimes in history. Low is alleged to have been the architect of the fraud and money-laundering network. Read more: How Jho Low lost his Cypriot ‘golden passport’ Subscribe to our Newsletter Latest News Car or bus? What you need to know about getting around Cyprus Elderly woman lay dead in Larnaca flat for months before neighbours raised alarm President lays foundation stone to 29 affordable homes in Limassol as government aims for 436 units in 2026 What Turkey’s harassment of EU defence ministers reveals about its ambitions in Cyprus Arakapas killer gets consecutive life terms for double murder UN envoy leaves Cyprus with 5+1 date still open but meeting assured ‘Would they live next to pylons with their babies?’ Residents challenge president over EAC Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.