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Malaysia open to talks if Goldman pays $7.5 billion, minister says

Malaysia’s finance minister said on Friday the government would be ready to discuss dropping criminal charges against Goldman Sachs (GS.N) linked to the 1MDB scandal if the bank pays $7.5 billion in reparations. Goldman Sachs is being investigated by Malaysian authorities and the U.S. Department of Justice for its role… Read More

Goldman Sachs CEO apologises for ex-banker’s role in 1MDB scandal

Goldman Sachs Group Inc (GS.N) Chief Executive Officer David Solomon (pictured) on Wednesday apologised to the Malaysian people for former banker Tim Leissner’s role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and… Read More

Malaysia to regulate initial coin offerings, cryptocurrency trade

Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday. The minister said an order to recognize digital currencies and digital tokens as securities will come into force on Jan. 15, under the regulation of the Securities Commission Malaysia. Read More

18th December 2018

Money laundering: Malaysia charges Goldman Sachs, ex-bankers over 1MDB scandal

Malaysia has filed criminal charges against Goldman Sachs and its former executives for their alleged role in the multi-billion dollar corruption and money laundering scandal involving state investment fund 1Malaysia Development Bhd (1MDB). The prosecution, which is seeking billions in fines from the bank and the accused former workers, said… Read More

13th December 2018

Malaysian ex-PM slapped with new charge over 1MDB scandal

AP — Former Malaysian Prime Minister Najib Razak was charged Wednesday with tampering with the final audit report on a defunct state investment fund, adding to a long list of corruption allegations against him since his ouster in May elections. Najib was charged along with Arul Kanda Kandasamy, the former… Read More

3rd December 2018

EX-US DoJ official helped 1MDB fraudster deceive American banks over millions

A former employee with the U.S. Department of Justice has pleaded guilty for his role in a conspiracy to deceive banks in the United States about the source and purpose of millions of dollars sent from overseas to finance a lobbying campaign on behalf of foreign interests. George Higginbotham, 46,… Read More

26th November 2018

UK money laundering: Air steward claimed £150,000 was for Harrods handbags, watches

An air steward has been jailed for 12 months after being caught trying to smuggle £150,000 criminal cash out of the UK. The 37-year-old man was due to fly on a Malaysia Airlines flight from London to Kuala Lumpur when he was stopped. After scanning his bags, security staff at… Read More

22nd November 2018

FIFA removes ethics judge from duty after arrest in Malaysia

AP — The credibility of FIFA’s reshaped ethics committee took a hit Wednesday after a leading judge was arrested on suspicion of corruption in Malaysia and later removed as deputy chairman. Sundra Rajoo has been taken off cases while under investigation by the Malaysian Anti-Corruption Commission for financial wrongdoing in… Read More

13th November 2018

Goldman Sachs bankers ‘cheated’ Malaysia over 1MDB: PM Mahathir

Malaysian Prime Minister Mahathir Mohamad said bankers at Goldman Sachs Group Inc (GS.N) “cheated” the country in dealings with state fund 1MDB and that U.S. authorities have promised to help return the fees the Wall Street bank earned from the fund. The U.S. investment bank has been under scrutiny for… Read More

2nd November 2018

US charges ex-Goldman bankers over Malaysian 1MDB money laundering scandal

The United States Department of Justice has charged two former Goldman Sachs bankers and Malaysian financier Jho Low with with conspiring to launder billions of dollars embezzled from state fund 1Malaysia Development Berhad (1MDB) and paying bribes to various Malaysian and Abu Dhabi officials. The 1MBD scandal can be traced… Read More

30th October 2018

Superyacht linked to Malaysia’s 1MDB scandal goes up for auction

A $250 million (£195 million) luxury yacht linked to a multi-billion dollar scandal at Malaysia’s state fund 1MDB has gone up for auction, a government lawyer said on Monday, the first sale of a major asset seized by investigating authorities. The Equanimity is among $1.7 billion in assets allegedly bought… Read More

21st September 2018

Former Malaysian PM Najib Razak to face 21 money laundering charges – police

A total of 21 money laundering charges have been prepared against former Malaysian prime minister Najib Razak in connection with a $681 million dollar transfer into his personal bank account, police said on Thursday. The charges include nine counts of receiving illegal proceeds, five counts of using illegal proceeds and… Read More

14th September 2018

Malaysia charges ex-PM Najib’s lawyer with money laundering

A lawyer representing former Malaysian prime minister Najib Razak was charged with money laundering on Thursday, as anti-corruption agents try to retrieve billions of dollars siphoned off from a scandal-plagued state fund. The charges against Muhammad Shafee Abdullah come as a blow for Najib who is fighting charges of criminal… Read More

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