Cypriot court orders confiscation of Jho Low's villa

The Nicosia District Court has issued a confiscation order for a luxury villa in Ayia Napa owned by Malaysian businessman Jho Low. This marks the first time in Cyprus that property has been confiscated without a prior criminal conviction, as the owner is currently outside the jurisdiction of the Republic. The property is estimated to be worth between 5 and 6 million euros. The order was secured following a joint application by the Legal Service and the Unit for Combating Money Laundering (MOKAS), with the consent of Low's legal representatives. Jho Low was previously granted Cypriot citizenship under the country's investment program, which was subsequently revoked in May 2023 due to his alleged involvement in the 1MDB financial scandal. The legal proceedings were conducted under the Prevention and Suppression of Money Laundering Laws. It remains unclear whether the proceeds from the eventual liquidation of the asset will be transferred to Malaysia, where authorities are seeking him for the misappropriation of billions from a state investment fund.