16th March 2020
The United States should “think twice” before giving Malaysia back the money recovered from an anti-kleptocracy probe into state fund 1MDB, former prime minister Mahathir Mohamad said on Friday, as the party accused of graft at 1MDB was back in power. Mahathir, 94, abruptly resigned last month before being replaced… Read More
10th March 2020
Deutsche Bank cleared a transfer of nearly €6 million for a Malaysian businessman four months after he was directly linked to the misappropriation of hundreds of millions of dollars from Malaysia’s 1MDB state investment fund, the Financial Times reported Tuesday, citing transactional records. The German lender served as a correspondent… Read More
10th March 2020
Malaysia’s top lender Malayan Banking Bhd (Maybank) is offering its Iranian customers debit cards to use locally for ringgit transactions, a relief for them after other banks threatened to close their accounts. Last year, Malaysia’s CIMB Group Holdings and RHB Bank sent closure notices to many Iranian clients, a sign… Read More
4th March 2020
Funds totalling more than RM99 million were deposited into the client account of Lewis & Co — a law firm named as allegedly having received cheques from former deputy prime minister Datuk Seri Ahmad Zahid Hamidi — over the span of two years from 2016 to 2018 without triggering red… Read More
25th February 2020
Three units of Goldman Sachs (GS.N) pleaded not guilty to charges of misleading investors regarding $6.5 billion in bond sales that the U.S. investment bank helped raise for state fund 1Malaysia Development Berhad (1MDB), Bernama state news agency reported on Monday. The U.S. Department of Justice estimates $4.5 billion… Read More
12th February 2020
Fugitive financier Low Taek Jho faces new charges in Malaysia along with PetroSaudi International directors Tarek Obaid and Patrick Mahony over their alleged roles in the 1MDB scandal. The three are accused of engaging in criminal conspiracy with Malaysia’s former Prime Minister Najib Razak, while Mahony and Obaid face additional… Read More
5th February 2020
The U.S. Federal Reserve said on Tuesday that it permanently barred a former Goldman Sachs Group Inc executive from the banking industry over his role in Malaysia’s multi-billion-dollar 1MDB corruption scandal. Andrea Vella, who was co-head of Goldman’s Asia investment bank in 2012 and 2013, failed to escalate information he… Read More
4th February 2020
Fallout from the Airbus bribery scandal reverberated around the world on Monday as the head of one of its top buyers temporarily stood down and investigations were launched in countries aggrieved at being dragged into the increasingly political row. Airbus agreed on Friday to pay a record $4 billion in… Read More
4th February 2020
Rosmah Mansor, the wife of former Malaysian Prime Minister Najib Razak, did not show up on the first day of her corruption trial on Monday, saying through her lawyer that she was too unwell to attend court. The prosecution on Monday rejected Rosmah’s call for an adjournment of the… Read More
3rd February 2020
Airbus SE has long since disbanded the so-called strategy and marketing unit at the center of its record $4 billion bribery settlement, but for years it had quite a heyday. According to documents filed by U.S. prosecutors on Friday, the 150-person team used its $300 million annual budget… Read More