The mess Jho Low, the Malaysian financier, created with the 1MDB scandal continues grow. Now, David Nahmad has filed papers claiming he is the actual owner of Monet’s “Waterlilies With Reflections of Tall Grass” that sold at auction in 2013 for $13.6M. This may cause some problems for the Justice Departments attempt to seize it (along with other works).
It appears that Mr. Low agreed to buy that painting from Mr. Nahmad in 2014 for $22.5M and even sent a down payment of $2.5M; however, according to Nahmad, the balance was never sent and the deal did not close. It will be interesting to see what happens next.
Source: Art Dealer Claims Monet in 1MDB Scandal
Claude Monet “Waterlillies With Reflections of Tall Grass”