00:00The High Court has ordered Tan Kim Leung and Lo Mei Lin, both linked to fugitive financier
00:05Lo Tick Jo, to pay 1MDB nearly US$2.8 billion for receiving and concealing misappropriated funds.
00:14Justice Mahajan Mat Taib ruled in favor of 1MDB, directing Tan, also known as Eric,
00:20to pay US$2.795 billion and Mei Lin to pay US$809,319.
00:27The judge said evidence presented by 1MDB and its four subsidiaries pointed to an elaborate,
00:35multi-layered siphoning of funds carried out by individuals in positions of authority
00:41and supported by offshore structures and trusted associates, including the two defendants.
00:47She said the evidence demonstrated that Tan, a close associate of Jo Lo, was the beneficial owner of the
00:53Elson Chan's and Blackstone accounts that received US$2.795 billion, wrongly diverted from 1MDB.
01:03The court also found that Mei Lin, Jo Lo's sister, received US$809,319 in her personal account through
01:12four transfers from their father, Lo Hock Bing. Tan and Mei Lin failed to enter an appearance,
01:19file pleadings or attend the trial despite being served with cause papers.
01:25Mirato, FMT
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