Model Miranda Kerr Returns Gifts Of $8M Worth Of Jewelry To DOJ

REUTERS/Danny Moloshok

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Australian model Miranda Kerr turned over to the U.S. Justice Department $8.1 million worth of jewelry last week after lawsuits said it was purchased for her by Malaysian financier with misappropriate funds, according to The Wall Street Journal.

Jho Low gifted a 8.88-carat diamond necklace worth $3.8 million and a diamond jewelry set for $2 million to the model using money from a Malaysian government fund that was meant for economic development, according to a lawsuit filed last week by U.S. prosecutors.

A spokesman for the model said she is cooperating with the investigation into Low’s finances. “From the start of the inquiry, Miranda Kerr cooperated fully and pledged to turn over the gifts of jewelry to the government,” Kerr’s spokesman told the newspaper. “Ms. Kerr will continue to assist with the inquiry in any way she can.”

The Justice Department is seeking $1.7 billion worth of assets allegedly paid for with money meant for Malaysian development. This includes Low’s $250 million yacht and $13.2 million in artwork that was given to actor Leonardo DiCaprio.

Low has been accused of misappropriating funds from the Malaysian fund, 1Malaysia Development Bhd. The fund claims that they have found no evidence that their money was misappropriated, according to the Journal.

Low also denies any wrongdoing and has denounced the U.S. government’s accusations and efforts to seize the assets.