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Malaysia former first lady hit with fresh corruption charge

AP — The wife of Malaysia’s former Prime Minister Najib Razak was hit Wednesday with a new corruption charge over a solar energy contract. Rosmah Mansor pleaded not guilty to accepting a 5 million ringgit ($1.22 million) bribe through her aide from a manager at Jepak Holdings as a kickback… Read More

Prosecutor says ex-Malaysian PM abused his ‘absolute power’

AP — Former Malaysian Prime Minister Najib Razak sat in the dock Wednesday at the start of his corruption trial, with the chief prosecutor alleging he wielded “near absolute power” for nearly a decade during which he stands accused of pilfering millions of dollars from the 1MDB state investment fund. Read More

What Najib Razak’s corruption trial means for Malaysia – and the region

By James Chin, University of Tasmania The corruption trial of Najib Tun Razak, the former prime minister of Malaysia, has finally begun following two postponements and an attempt on the opening day of the trial for a third. Many Malaysians were starting to wonder if Najib would… Read More

4th April 2019

Malaysia to sell yacht at center of 1MDB scandal for $126M

AP — Malaysia’s government said Wednesday that a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for $126 million, half its original price. Attorney General Tommy Thomas said the Admiralty Court on Wednesday approved the sale… Read More

3rd April 2019

Ex-Malaysian Leader’s First 1MDB Trial Begins

After nearly two months of delays, the trial of Najib Razak is set to begin Wednesday on charges that the former Malaysian prime minister took part in a scheme to steal vast sums from a state fund he established a decade ago. The trial, which marks a milestone in a sprawling financial… Read More

19th March 2019

Malaysia to summon two Goldman Sachs units ahead of 1MDB case

Malaysian prosecutors on Monday said they would issue summonses to units of U.S. investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year. Soon after being elected in May, 2018, a new government charged three units of… Read More

25th February 2019

U.S. seeks to recover $38 million in assets from 1MDB case

The U.S. Justice Department on Friday said it had filed complaints seeking forfeiture and recovery of approximately $38 million in assets associated with its 1Malaysia Development Berhard – or 1MDB – case, bringing the assets now subject to forfeiture to a total of about $1.7 billion. “These new lawsuits target… Read More

18th February 2019

Malaysian court allows ex-Goldman banker to return to U.S. to face 1MDB charges

Roger Ng, a former Goldman Sachs Group Inc banker caught up in the 1Malaysia Development Berhad (1MDB) fraud scandal, will be allowed to return to the United States to face criminal charges against him there, a Malaysian court ruled on Friday. Ng has been detained in Kuala Lumpur since Nov. Read More

29th January 2019

Former Malaysian PM Najib faces three more money laundering charges

Malaysian prosecutors on Monday charged former prime minister Najib Razak with three more counts of money laundering, allegedly receiving the proceeds of illegal activities in his personal bank accounts. After unexpectedly losing an election to Mahathir Mohamad in May last year, Najib has been slapped with a series of corruption… Read More

28th January 2019

Malaysia probing audit firms’ conduct in 1MDB scandal

Malaysia’s securities regulator said on Saturday it was looking into the conduct of auditors of 1Malaysia Development Bhd (1MDB), a state fund that was wound up after losing billions of dollars in a scandal that erupted under the country’s previous government. “The Securities Commission’s review of the conduct of… Read More

20th January 2019

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

17th January 2019

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

15th January 2019

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

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