An LA mansion formerly owned by a fugitive Malaysian businessman was just sold for $18.5 million - take a look inside
This West Hollywood mansion was bought by Malaysian businessman Jho Low — now a fugitive —for $39 million in 2012. Low is wanted for the alleged theft of about $4.5 billion from 1Malaysia Development Berhad. According to a report by Mansion Global, he is believed to be hiding in China.
West Hollywood is a suburb in Los Angeles with a population of 36,384. According to Niche.com, the median home value there is $729,400.
According to Mansion Global, in October 2019, Low forfeited $700 million worth of his assets to the US government, of which $100 million was in the form of residential real estate located in New York, California, and London.
This LA mansion, according to Mansion Global, is the first of Low's forfeited properties to sell.
It was represented by Ernie Carswell and Christopher Pickett of Douglas Elliman and sold for $18.5 million to a local investor.
According to the listing, the massive compound spans 1.2 acres and the main residence spans 13,000 square feet.
The property is loaded with amenities including a pool, a four-car, glass-walled garage, a separate spa complex, and a guest house.
According to Zillow, the main home has seven bathrooms ....
... and six bedrooms.
Mansion Global reported that the home needs a lot of work. Repairs are estimated to cost between $8 million to $12 million, and just restoring the pool will likely cost upwards of $1 million.
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