4th September 2020
The stepson of Malaysia’s former prime minister will forfeit assets worth more than $60 million that he purchased using funds embezzled during the multibillion-dollar looting of a Malaysian state investment fund, the Justice Department announced Wednesday. The 1Malaysia Development Berhad fund, or 1MDB, was established in 2009 by then-Prime Minister… Read More
4th September 2020
Federal police have seized properties and cash worth $1.6 million over an alleged scheme to use the Melbourne property market to funnel millions of dollars of funds from a Malaysian government entity to corrupt officials. The seized properties and funds in bank accounts were owned by Australian property developer Dennis… Read More
4th September 2020
Mauritius’ first Islamic bank was reported to have had its license revoked by the country’s central bank after FBI investigations pointed to links to money laundering involving 1MDB funds. Local newspapers in Mauritius say the Century Banking Corporation (CBC) had its licence revoked by the Bank of Mauritius (BOM) because… Read More
3rd September 2020
The Attorney General’s Office (AGO) has named prosecutor Pinangki Sirna Malasari a suspect of money laundering and bribery after she allegedly received money from graft convict Djoko Soegiarto Tjandra to help him secure a Supreme Court acquittal. Investigation director for the AGO’s junior attorney for special crimes, Febrie Adriansyah, said… Read More
31st August 2020
How would you spend £340 ($450)? It’s a lot of money – enough for a haute couture purse from Yves Saint Laurent. It is also the market rate for a kilogram of scales from the world’s most trafficked animal. The story of how the trade of pangolin scales… Read More
19th August 2020
A company owner pleaded not guilty in the Sessions Court here today to 22 counts of money laundering, involving cigarette smuggling. Chuah Boon Leng, 54, made the plea after the charges were read out in Mandarin to him before judge Diana Md Razali. On the first to the 18th count,… Read More
11th August 2020
AP – Malaysia’s former finance minister pleaded not guilty Monday to a second corruption charge related to a $1.5 billion undersea tunnel project and slammed the case as a trumped-up charge by the new government. Lim Guan Eng, 59, was first charged Friday with soliciting 10% of potential profits… Read More
6th August 2020
Eight individuals were sentenced to between three and nine years in jail by the High Court here today, for money laundering and illegal deposit taking related to gold bullion investments in 2011. Judicial Commissioner Datuk Ahmad Shahrir Mohd Salleh also fined all accused between RM1 million to RM3 million and… Read More
4th August 2020
Lawyer Mohd Hafarizam Harun on Monday (Aug 3) claimed trial to three money laundering charges for receiving RM15 million (S$4.9 million) in illicit funds from former premier Najib Razak in 2014 and 2015. Hafarizam, a legal adviser for Umno, pleaded not guilty when the three charges were read out to… Read More
3rd August 2020
Investigators probing one of the world’s largest financial frauds have said they suspect $340m (£255m) held in the bank account of a major London law firm is linked to money allegedly embezzled from the Malaysian state investment fund 1MDB. According to court papers, Malaysia’s anti-corruption agency is urgently trying… Read More