4th March 2021
Deloitte PLT agreed to a 324-million ringgit ($80 million) settlement with the Malaysian government to resolve all claims related to the firm’s audit of 1MDB and its former unit SRC International between 2011-2014. The payout is the largest 1MDB-related settlement by an audit firm in Southeast Asia, the Finance… Read More
4th March 2021
Malaysian police said on Wednesday it was investigating the husband of the country’s former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal. Malaysian and U.S authorities have said around $4.5 billion was stolen from 1Malaysia Development Berhad… Read More
1st March 2021
Malaysian banking group AMMB Holdings Berhad (AmBank) said on Friday it will pay the government 2.83 billion ringgit ($699 million) to settle claims linked to a massive financial scandal at state fund 1MDB, a hefty payment that is expected to have a material impact on the group’s earnings. AmBank Group… Read More
24th February 2021
The High Court here has allowed the Malaysian Anti-Corruption Commission (MACC) to forfeit RM1.5 million from MonSpace (M) Sdn Bhd director Jessy Lai Chai Suang, believed to be proceeds from unlawful activities. Deputy public prosecutor Allan Suman Pillai said judicial commissioner Aslam Zainuddin allowed the application as none, including Lai,… Read More
18th February 2021
A chairman of a construction company is in remand for three days from today for alleged corruption to secure a project worth RM110 million from a ministry in 2012. Magistrate Shah Wira Abdul Halim issued the remand order against the 67-year-old man following an application by the Malaysian Anti-Corruption Commission… Read More
8th February 2021
The US Department of Justice (DoJ) has served an arrest warrant on a top London law firm in an effort to seize hundreds of millions of dollars – alleged to be the proceeds of a major international fraud – which it is holding on behalf of a client. According to… Read More
2nd February 2021
OCCRP — Jho Taek Low had billions of dollars, but he was running out of places to put them. By 2015, the Malaysian financier had become the face of the now-infamous 1MDB embezzlement scandal. His theft of billions from Malaysia’s sovereign wealth fund had been widely reported. Read More
28th January 2021
Goldman Sachs (GS) chief executive David Solomon will see his annual pay cut by over a third. The decision was taken by the firm’s board, which stated that 36% of the top boss’ salary will be deducted as a penalty for Goldman’s role in Malaysia’s 1MDB bribery scandal. In October,… Read More
1st January 2021
Several high-profile corruption trials, including that of six MPs, will continue to hog the limelight as Malaysians usher in the new year. Trials of these cases were delayed due to the the movement control order (MCO) in March and later the conditional MCO which saw courts being closed for physical… Read More
22nd December 2020
Datuk Seri Tengku Adnan Tengku Mansor has been found guilty by the High Court today on a charge of accepting a RM2 million bribe from a businessman in his capacity as former Federal Territories minister. In delivering his judgment to a packed courtroom, High Court judge Mohamed Zaini Mazlan said… Read More