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The Council of Ministers ratified a decision by the Independent Commission for the Examination of Deprivation of Nationality to revoke the Cypriot citizenship of Malaysian fugitive Jho Low.
The decision to strip Low of his citizenship was initially made on May 18, 2013. Low, who is wanted globally for embezzling $4.5 billion from the Malaysian investment fund 1MDB, appealed the decision. However, the Independent Commission for the Review of Deprivation of Citizenship found valid grounds for the revocation and dismissed his appeal.
Low had purchased a villa in Ayia Napa's Limnara area for €5 million and contributed €310,000 to the Archdiocese after obtaining his "golden" passport. The money, belonging to the Malaysian people, is in the process of being returned.
