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Ex-Goldman Banker in Plea Talks To Avoid U.S. Trial Over 1MDB Charges

Former Goldman Sachs Group Inc. banker Roger Ng is still in plea talks to avoid a U.S. trial on charges that he violated American anti-bribery laws and conspired to launder money embezzled from Malaysia’s state investment fund 1MDB. At a hearing Thursday in federal court in Brooklyn,… Read More

Najib: Yes, my credit cards used for RM3.3m in one day to buy gifts for ‘royalty’

Datuk Seri Najib Razak appears to have admitted that his two personal credit cards were used in 2014 for transactions worth RM3.3 million in a single day at a Swiss luxury jeweller’s store in Italy, but has claimed that the money was splashed out on gifts for a mysterious unnamed… Read More

U.S. Investigating Deutsche Bank’s Dealings With Malaysian Fund 1MDB

The sprawling, multibillion-dollar Malaysian development fraud scandal that has toppled a prime minister and stretched from Hollywood to Wall Street is threatening to implicate another major global financial institution: Deutsche Bank AG. The U.S. Justice Department is investigating whether the German lender violated foreign corruption or anti-money-laundering laws… Read More

5th July 2019

Malaysian ex-PM stepson to be charged with money laundering

AP — Malaysia’s anti-graft agency said Thursday it has detained Riza Aziz, the stepson of former Prime Minister Najib Razak and a Hollywood film producer, and will charge him with money laundering. Anti-Corruption Commission chief Latheefa Koya said Riza was picked up Thursday but has been released on bail. “He… Read More

4th July 2019

Hong Kong regulator bans former Goldman banker Leissner for life over 1MDB

Hong Kong’s financial regulator has banned former Goldman Sachs (GS.N) banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB. The sanction is latest for Leissner who has already been barred from the banking… Read More

24th June 2019

Malaysia seeks forfeiture of portion of embezzled 1MDB money

AP — Malaysia’s anti-graft agency said Friday it has begun legal action to seek forfeiture and recovery of 270 million ringgit ($65.1 million) embezzled from the 1MDB investment fund. Officials estimated that another $5 billion worth in assets abroad linked to the fund could be recovered. Latheefa Koya, the new… Read More

18th June 2019

UAE Convicts Alleged 1MDB Co-Conspirators: Report

Two individuals accused of playing prominent roles in the sprawling 1Malaysia Development Bhd. scandal have been convicted of financial crimes in Abu Dhabi, The Wall Street Journal reported Sunday. The Abu Dhabi Criminal Court sentenced Khadem al Qubaisi, a United Arab Emirates citizen who previously headed the International Petroleum Investment Company… Read More

31st May 2019

Prosecutors seek sale of two New York condos linked to Malaysian fugitive

U.S. prosecutors are seeking to sell two luxury condominiums in New York City linked to fugitive financier Low Taek Jho, court documents showed, the latest effort to recover money allegedly stolen from Malaysia’s state fund 1MDB. Low, known as Jho Low, has been charged in Malaysia and the United States… Read More

24th May 2019

Malaysian police raid Deloitte office for 1MDB-related documents: sources

Malaysian police raided the Kuala Lumpur office of audit firm Deloitte on Thursday as part of a widening probe into a multibillion-dollar scandal at state fund 1MDB, two police sources told Reuters. Investigators seized documents and records related to the firm’s dealings with 1Malaysia Development Berhad (1MDB), one of the… Read More

13th May 2019

Ex-Fugees rapper charged in campaign finance conspiracy case

AP — One of the founding members of the 1990s hip-hop group the Fugees has been charged in a campaign finance conspiracy that took place during the 2012 presidential election, the Justice Department said Friday. A four-count indictment accuses Prakazrel “Pras” Michel of conspiring with fugitive Malaysian financer Low Taek… Read More

9th May 2019

Malaysia seeks forfeiture of assets seized from ex-PM Najib

Malaysian prosecutors are seeking the forfeiture of millions of dollars in cash and assets seized from disgraced former prime minister Najib Razak, his family, and others, the state news agency Bernama reported on Wednesday. Prosecutors named Najib, his wife Rosmah Mansor, his stepson Riza Aziz, and the couple’s two other… Read More

7th May 2019

Malaysia sends ex-Goldman banker to U.S. for 10 months to face 1MDB charges

Malaysia has extradited a former Goldman Sachs banker to the United States for 10 months to face criminal charges linked to a multibillion-dollar scandal at state fund 1MDB, its attorney general said on Monday. Malaysian Roger Ng has been detained in Kuala Lumpur since Nov. 1, after the U.S. Department… Read More

6th May 2019

U.S. to return $200 million in 1MDB funds to Malaysia: sources

U.S. authorities will this month return $200 million stolen from Malaysia’s state fund 1MDB, including money from a stake in a luxury New York hotel and from a Hollywood movie producer, two sources with direct knowledge of the matter said. The U.S. Department of Justice, in the biggest ever case… Read More

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