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Corrupt Malaysian Billionaire Reportedly Bought Miranda Kerr $10 Million in Diamonds
In an expanded crackdown of assets allegedly bought with stolen cash from a Malaysian development fund, the U.S. Department of Justice has filed a lawsuit to claim a set of diamonds gifted to model Miranda Kerr by her billionaire ex-boyfriend Jho Low.
Low, a Penang-born tycoon, is accused of masterminding the theft of $4.5 billion from 1Malaysia Development Berhad, Page Six reported.
According to the DOJ, he spent at least $9.9 million on jewelry for Kerr, beginning on Valentine’s Day 2014. His first gift was an 11.72-carat, heart-shaped diamond from Lorraine Schwartz worth $1.29 million.
By November in the same year, Low partially paid $3.8 million for yet another Schwartz diamond that cost $4.5 million as a gift to Kerr. This, an 8.8-carat pendant, came with a chain and necklace worth $800,000.
Soon, Low bought 11-carat diamond earrings, including a bracelet, necklace and ring for $1.98 million. These were followed by another pair of 11-carat diamond earrings worth $1 million.
When proven that Low used ill-gotten money for his purchases, the DOJ may sue Kerr to return the diamonds. The pair dated for a year.
Kerr, however, has been fully cooperating with authorities, according to an unnamed source.
On top of his gifts for Kerr, Low allegedly spent more money on jewelry for his mother and the wife of Malaysian Prime Minister Najib Razak, Malaysiakini noted. His total spending on jewelry is pegged at $200 million.
Other than Kerr’s diamonds, the DOJ also filed lawsuits involving artwork given to Leonardo DiCaprio, the rights to “Dumber and Dumber To” and “Daddy’s Home,” and a megayacht called Equanimity, which also belongs to Low, The Australian wrote.
Overall, the U.S. aims to seize $540 million in property with the lawsuits.
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