AUCKLAND: An Auckland courtroom will on Friday become a battleground over Manhattan penthouses and a private jet amid allegations that they are the proceeds of a globe-spanning mega-fraud, according to the New Zealand Herald. The newspaper reported on Wednesday the High Court at Auckland was expected to hear a request from relatives of Malaysian financier Low Taek Jho, or better known as Jho Low -- who oppose the seizure of assets worth $230mil alleged by the US Department of Justice to be the proceeds of crime. US court filings said the relatives are beneficiaries of a number of New Zealand trusts that are claimed to directly own a number assets caught up the probe of a Malaysian sovereign wealth fund known as 1MDB, the NZ Herald reported. https://goo.gl/bBLaR0

Source: The Star January 18, 2017 03:56 UTC