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1MDB Figure Who Made a Splash in Art Market Becomes a Seller

THE WALL STREET JOURNAL | Kelly Crow and Bradley Hope:

An enigmatic businessman closely linked to a controversial Malaysian state fund has liquidated two of his best-known investments in the U.S., including a $35 million painting of a pair of drug addicts by Jean-Michel Basquiat. The sales by Jho Low, a 34-year-old investor, come as the Federal Bureau of Investigation is actively examining his financial dealings in the U.S. and abroad, according to people familiar with the situation. Investigators believe at least some of the money Mr. Low used for his art and real-estate purchases came from the Malaysian fund, according to the people… Read more

Image: The 1982 painting ‘Dustheads’ by Jean-Michel Basquiat was sold last month for $35 million to Connecticut hedge-fund manager Daniel Sundheim. PHOTO: CHRISTIE’S IMAGES LTD. 2016

2018-10-23T18:21:08+00:00