12th November 2019
AP — A Malaysian judge on Monday ordered former Prime Minister Najib Razak to enter a defense at his first corruption trial linked to the multibillion-dollar looting at the 1MDB state investment fund that helped spur his shocking election ouster last year. Defense lawyers said Najib was shocked he wasn’t… Read More
12th November 2019
The revelation last week that fugitive Malaysian businessman Low Taek Jho, better known as Jho Low, holds a Cypriot passport has sparked a fresh flurry of speculation over his whereabouts, as authorities attempt to track him down for alleged financial crimes linked to defunct state fund 1Malaysia Development Berhad. The… Read More
6th November 2019
Although suspicious transactions from Jho Taek Low’s local bank accounts were flagged as early as October 2015, and despite Interpol issuing an arrest warrant for the Malaysian businessman-cum-fugitive a year later, the government never initiated a process to revoke his passport. Daily Politis on Tuesday revealed more information raising a… Read More
6th November 2019
Over five million suspicious cash deposits were reported up to September after Bank Negara Malaysia (BNM) lowered the daily cash threshold to RM25,000 starting this year, Datuk Nor Shamsiah Md Yunus said today. The cash transactions were valued at RM483 billion, the BNM governor said, saying it was still too… Read More
6th November 2019
Malaysia is working to locate at least $4.3 billion in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday. U.S. authorities say about $4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB)… Read More
6th November 2019
Cypriot former Interior Minister Sokrates Hasicos denied on Monday media reports saying Malaysian fugitive Jho Taek Low – a key figure in a multi-billion dollar embezzlement scheme – had acquired Cypriot citizenship in 2015 just two days after applying. Cypriot newspaper Politis said the businessman, known as Jho… Read More
4th November 2019
Malaysia has rejected an offer from Goldman Sachs of less than US$2bn in compensation over the 1MDB scandal, in contrast to the country’s publicly stated demand of US$7.5bn.  Malaysia has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling… Read More
31st October 2019
The U.S. Justice Department has struck a deal with fugitive financier Jho Low to recoup almost a billion dollars looted from Malaysian investment fund 1MDB, in what would be the biggest recovery from a decade-old anti-corruption crackdown. The 1MDB global corruption scandal has toppled a government, ensnared a Wall Street… Read More
30th October 2019
Banks in Malaysia are closing the accounts of Iranian individuals and companies, nearly a dozen affected people told Reuters, in a sign that U.S. sanctions are having a far-reaching impact on citizens of the Islamic republic. Although Malaysian banks seemed to be more cautious in dealing with Iranians than those… Read More
23rd October 2019
Again and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping $7.5 billion for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that. Representatives for Malaysia have discussed figures of around $2 billion to $3 billion in talks with… Read More