The Park Lane Hotel in New York City can be sold to Abu Dhabi’s state-owned Mubadala Investment after fugitive Malaysian financier Low Taek Jho agreed to drop his claims to the property in a US forfeiture lawsuit.
The US Justice Department has been trying to seize Low’s stake because he allegedly bought it with money stolen from Malaysia’s state-owned 1MDB investment fund. The intermediary companies that hold Low’s interest in the property said in a filing on Friday in…
Source : South China Morning Post
Read more…New York’s Park Lane Hotel can be sold to Abu Dhabi state fund after 1MDB fugitive Jho Low drops claim















