US Prosecutors Trying To Seize £23m London Mansion

Prosecutors in the US are trying to seize and sell a Belgravia townhouse worth around £23.2m which is implicated in a complex criminal trial involving former Malaysian prime minister Najib Razak, Reuters says.

The report says that Malaysian and US authorities allege $4.5bn (around £3.7bn) was misappropriated from 1Malaysia Development Berhad (1MDB) a state fund set up by Najib Razak. It claims that the property as well as two others – a $35m New York apartment and $17.5m Beverly Hills mansion – were purchased by Najib Razak’s stepson Riza Aziz using funds ‘diverted’ from 1MDB.

Other sources reveal that the Belgravia house was purchased for £23.2m in 2012 by a company based in the British Virgin Islands of which Riza Aziz is the beneficial owner.

In a further twist, prosecutors say Riza Aziz bought the properties from Malaysian financier Low Taek Jho who faces criminal charges in Malaysia and the US over his alleged central role in the 1MDB case. All the parties deny the Reuters report says.

Source Reuters
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