Featured Embezzlement

Malaysia ‘open’ to settling with Goldman and dropping 1MDB charges

Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More

Khmer Riche – How relatives and allies of Cambodia’s leader amassed wealth overseas

Cambodia’s long-ruling prime minister, Hun Sen, had gathered athletes at his imposing office for a televised pep talk. “I don’t want to mention politics,” he began quietly. But he couldn’t help himself. It was December 2017. The main opposition party had just been outlawed, the latest move in Hun Sen’s… Read More

Moldova: Bank fraud was coordinated with politicians and state officials, report

The process of the banking system looting was a well-prepared operation in time, coordinated with politicians and state dignitaries. It is one of the conclusions of the report for the elucidation of all circumstances of the banking system looting and investigation of the banking fraud, presented on October 17 at… Read More
16th October 2019
As Venezuela’s chronic food shortages began intensifying, Naman Wakil, a former street peddler who made millions of dollars supplying meat to the socialist government’s food programs, decided to share the wealth. Wakil ordered his Swiss bankers to transfer $5.9 million to relatives of state Food Minister Carlos Osorio, who’d given… Read More
14th October 2019
Semyon Kislin, a business associate of Donald Trump who is due to give evidence at the US president’s impeachment inquiry on October 14, tried to obtain millions of dollars that Ukrainian prosecutors deemed stolen, Al Jazeera can reveal. Kislin is a long-time friend of Trump’s personal lawyer, Rudy Giuliani. Read More
11th October 2019
An international arrest warrant is being prepared for Ukrainian billionaire Kostyantyn Zhevaho, who the newly created State Bureau of Investigations (DBR) suspects of large-scale money laundering and embezzlement of funds from a bank he formerly owned. DBR chief Roman Truba said in a briefing on October 9 that an arrest… Read More
7th October 2019
Malaysia has fined 80 individuals and entities for allegedly receiving money from state fund 1MDB, the country’s anti-graft chief said on Monday. Malaysian and U.S. investigators say about $4.5 billion was misappropriated from 1Malaysia Development Berhad (1MDB), set up in 2009 by former Prime Minister Najib Razak. Najib, who lost… Read More
7th October 2019
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More
4th October 2019
Ukraine’s former national-security chief, Oleksandr Danylyuk, said a “cluster of events” led to his resignation after just four months on the job, but the last straw was the situation around the country’s biggest lender, Privatbank. In an interview with the BBC’s Ukrainian service published on October 3, Danylyuk said he… Read More
3rd October 2019
Five Vatican employees, including the number two at the Vatican’s Financial Information Authority (AIF) and a monsignor, have been suspended following a police raid, the Italian magazine L’Espresso reported on Wednesday. The scandal, affecting two departments at the heart of the Vatican, was the first after several years of relative… Read More
1st October 2019
1Malaysia Development Berhad (1MDB) lost a total of US$1.367 billion (RM5.72 billion) in deposits to a fake British Virgin Islands company named Aabar Investments PJS Limited while raising funds in two quick-fire deals handled by businessman Low Taek Low’s associates, 1MDB’s former CEO told the court yesterday. Datuk Shahrol Azral… Read More
1st October 2019
Pakistan’s government is facing an embarrassing high court case after allegedly failing to pay a multimillion-pound bill for tracking down properties once owned by the country’s disgraced former prime minister Nawaz Sharif. The asset recovery firm Broadsheet has launched an unusual claim for about £17m… Read More
30th September 2019
Malaysia’s AmBank makes no secret of its strengths. “We are very good in two types of markets; the high end, which is the people who are very rich, and the mass”, an executive tells Asiamoney as she outlines the bank’s mission to cut overheads by migrating its older, less tech-savvy… Read More