Bugatti, bodyguards and a Greek alias: Journalists claim Malaysian fugitive Jho Low is living large in Shanghai

Business Times

2 days ago

[KUALA LUMPUR] In what could be the strongest lead yet in the hunt for fugitive Jho Low, journalist and Billion Dollar Whale co-author Tom Wright said he has passed fresh intelligence to the Malaysian authorities, alleging that the mastermind behind one of the world's biggest money laundering scandals could now be holed up in a gated enclave of Tudor-style villas in Shanghai, living under a Greek alias and travelling on a forged Australian passport.
Wright told The Business Times he recently messaged the Malaysian authorities, including Prime Minister Anwar Ibrahim, via X (formerly Twitter), to share the newly uncovered details on the whereabouts of Low, one of the world's most wanted men accused of embezzling billions of dollars from Malaysia's state-owned fund 1Malaysia Development Berhad (1MDB).
'We haven't really located him yet. But the search is very much alive,' Wright said in a phone interview with BT on Monday (Jul 21). 'But we hope to continue to receive more information. All the information we receive is verified to high journalistic standards.'
In a livestream by Project Brazen titled 'Finding Jho Low' released on Jul 18, Wright and co-author Bradley Hope reveal they have received tips and documents suggesting that the Penang-born Low, whose full name is Low Taek Jho, is living in Green Hills in Shanghai.
The upscale enclave, often associated with corporate elites, is just a 15-minute drive from the Shanghai World Financial Centre, where, the duo say, Low maintains an office. 'What we have learned from a variety of sources, he is actually back in business in a big way,' said Wright in the programme.
Low is also said to own a fleet of luxury cars, including a Bugatti, and is routinely accompanied by at least two security personnel, whom they believe to be government employees.
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They also claim to have uncovered that Low is allegedly operating under the alias 'Constantinos Achilles Veis' and using a forged Australian passport to mask his identity.
Jho Low is wanted in both Malaysia and the US for allegedly embezzling some US$4.5 billion from the fund.
The pair hope that their findings will reignite global interest in Low's case. They have turned to unconventional methods, including launching a YouTube channel, a satirical website and even a meme coin to incentivise whistle-blowers.
Their cryptocurrency, $JHOLOW, serves as a reward mechanism for individuals who provide verifiable information about Low's whereabouts or evidence related to the 1MDB scandal.
Wright said: 'We're using meme coins as an incentive to encourage people to share more information, helping us uncover the truth. We see this as a tool for investigative journalism, and it's effective. We have received a significant amount of information, which is helping us corroborate and verify leads.'
Tips submitted through the pair's YouTube channel have included what appears to be a recent passport photo of Low under the alias, and claims that he has opened an office in Shanghai. Wright said they are now verifying each lead.
Low is wanted in both Malaysia and the US for allegedly embezzling some US$4.5 billion from 1MDB; an Interpol Red Notice has been in effect since 2018.
Despite repeated efforts by Malaysian enforcement agencies to track him down, his whereabouts have remained unknown.
Since taking office, Anwar has said that locating Low is a priority. As recently as in 2024, then-Inspector General of Police Razarudin Husain said there were still no concrete leads.
On Jul 19, Anwar told reporters that Malaysia had not received any information regarding the claims of Low's presence in China. 'I have no information; we have yet to receive anything. I have read (the media reports), let me check. I need to verify with the Home Minister,' he was quoted by Bernama as having said.
Wright and Hope, both former Wall Street Journal reporters, played key roles in helping to shed light on the 1MDB scandal. The mammoth fraud ultimately contributed to the downfall of Malaysia's long-ruling Barisan Nasional government and former prime minister Najib Razak.
After the 2018 publication of Billion Dollar Whale, their book that exposed one of history's most notorious fraud cases, Wright and Hope co-founded Project Brazen in 2021.
This platform focuses on producing investigative content with a global scope, rather than limiting it to a single country. They also aim to monetise their investigative work by adapting their findings into documentaries, television shows, and films.
Najib's 1MDB trial nears end, Jho Low still elusive
Former Malaysian Prime Minister Najib Razak is currently standing trial for 25 charges of money laundering and abuse of power involving RM2.3 billion from 1MDB.
Former Malaysian Prime Minister Najib Razak established 1MDB in 2009, but was later accused of channelling over RM2.6 billion from the fund into his personal accounts while overseeing 1MDB as head of its advisory board.
Najib lost office in 2018 amid the scandal, and was convicted in 2020 for misappropriating RM42 million from SRC International, a 1MDB subsidiary, leading to a six-year prison sentence after a royal pardon. He is now standing trial for 25 charges of money laundering and abuse of power involving RM2.3 billion from 1MDB, with closing arguments set for end-October.
Jho Low is considered a crucial witness in the 1MDB trial because of his alleged central role in orchestrating fund flows and operations. Key witnesses and investigators have testified that 1MDB officials often treated his instructions as coming directly from Najib. They have also said his actions are closely linked to the billions misappropriated from the fund.
His testimony is therefore critical in terms of offering crucial insights into Najib's alleged involvement and the broader mechanics of the 1MDB scandal.