LOS ANGELES _ In 2012, Malaysian businessman Jho Low turned heads when he dropped a whopping $38.98 million on a Hollywood Hills mansion, redefining what a home could sell for in the celebrity-filled neighborhood.
Not long after, a federal investigation alleged that Low bought the showplace with money embezzled from the 1Malaysia Development Berhad fund. Accused of masterminding a scheme that stole $4.5 billion, Low fled the country and federal authorities reached an agreement to list the property for $24.5 million _ a staggering $14.48 million shy of what Low paid a few years earlier.
After almost a year on the market, it's finally sold for $18.5 million.
Low, a high roller who partied with Paris Hilton and poured $100 million into Martin Scorsese's film "The Wolf of Wall Street," briefly stayed in the home before skipping town. It was originally owned by legendary Mexican actor Ricardo Montalban, who commissioned architect Ricardo Legorreta to build the place in 1986.
Perched in the Bird Streets enclave, the estate occupies more than an acre and boasts a long, private driveway and a guardhouse to monitor incoming guests. Photos that date back to 2012 depict a modern structure of more than 13,000 square feet, but the listing notes that the property is in need of a full restoration.
The compound includes a six-bedroom home, a four-car glass garage, a guesthouse, a spa complex and a swimming pool. Statues dot the landscape around the estate, leading into expansive interiors with modern fixtures and striking views.
A skylighted foyer accesses the living spaces, which include a chandelier-topped dining room and a living room with a built-in fireplace. The voluminous great room adds a wet bar and a two-story wall of windows.
Pocketing doors line the master suite, extending to a private balcony with sweeping city views. Down below, the backyard has a tiered patio and fire pit.
