• 8000 8696
  • info@realestateppericleous.com
click to enable zoom
We didn't find any results
open map
View Roadmap Satellite Hybrid Terrain My Location Fullscreen Prev Next
Your search results

Cyprus Strips Billionaire Fugitive Jho Low of ‘Golden Passport’ Amid 1MDB Scandal

Posted by Barbora Fujdova on July 2, 2024

Cyprus Strips Billionaire Fugitive Jho Low of ‘Golden Passport’ – The Cypriot government has officially revoked the citizenship of fugitive Malaysian businessman Jho Low, who is wanted by Interpol for major financial crimes. Initially stripped of his Cypriot citizenship in May 2023, Low’s appeal was rejected by an independent commission on May 17, 2024.


According to Cypriot law, citizenship can be revoked within ten years of naturalization if the individual is internationally wanted for serious crimes. Low acquired his Cypriot passport in September 2015 through the controversial citizenship by investment programme, often dubbed the “Golden Passport” scheme. The Council of Ministers approved the Interior Minister’s proposal to finalize the revocation.


This move comes amid ongoing investigations into Low’s alleged role in the 1MDB scandal, where he is accused of embezzling billions from Malaysia’s 1MDB investment fund and diverting the money to his accounts.


Low reportedly secured Cypriot citizenship by purchasing a €5 million villa in Ayia Napa. Upon learning of his criminal activities, Cypriot authorities seized the villa, which may be confiscated if his citizenship was fraudulently obtained.


The investigation also scrutinized the involvement of the late Archbishop Chrysostomos, who had accepted a €300,000 check from Low’s application. The Archbishop returned the money when the scandal broke, and a police investigation found no evidence of corruption



Article Credits go to Nigel Howarth from Cyprus Property News

Compare Listings