23rd October 2019
Former Malaysian Prime Minister Najib Razak acted like an “emperor” who orchestrated massive fraud at a former unit of scandal-linked state fund 1Malaysia Development Berhad (1MDB), the country’s attorney-general said at his trial on Tuesday. Malaysian prosecutors have begun wrapping up their first case against the ex-premier, who faces seven… Read More
17th October 2019
Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More
7th October 2019
Malaysia has fined 80 individuals and entities for allegedly receiving money from state fund 1MDB, the country’s anti-graft chief said on Monday. Malaysian and U.S. investigators say about $4.5 billion was misappropriated from 1Malaysia Development Berhad (1MDB), set up in 2009 by former Prime Minister Najib Razak. Najib, who lost… Read More
1st October 2019
1Malaysia Development Berhad (1MDB) lost a total of US$1.367 billion (RM5.72 billion) in deposits to a fake British Virgin Islands company named Aabar Investments PJS Limited while raising funds in two quick-fire deals handled by businessman Low Taek Low’s associates, 1MDB’s former CEO told the court yesterday. Datuk Shahrol Azral… Read More
30th September 2019
Malaysia’s AmBank makes no secret of its strengths. “We are very good in two types of markets; the high end, which is the people who are very rich, and the mass”, an executive tells Asiamoney as she outlines the bank’s mission to cut overheads by migrating its older, less tech-savvy… Read More
26th September 2019
Malaysian police said on Wednesday they know the location of fugitive financier Low Taek Jho and hope to bring him back by the end of the year to help in investigations into a multi-billion dollar scandal at state fund 1MDB. Investigators have named Low, better known as Jho Low, as… Read More
12th September 2019
Federal prosecutors in Los Angeles have been working for three years to recover assets around the world that were allegedly acquired with billions of dollars stolen from Malaysia’s 1MDB fund by people associated with former prime minister Najib Razak. But the question of whether the civil forfeiture lawsuits for overseas… Read More
4th September 2019
Kylie Jenner’s outrageously extravagant 22nd birthday party in Italy earlier this month was held on the 91-metre Tranquility superyacht, which features a beauty salon, sauna, gym, massage room, plunge pool and two helipads. The luxury vessel, which cost $1.2 million for a week’s hire, is also home to a secret. Read More
30th August 2019
Bank Negara Malaysia is finalizing revisions to guidelines against money laundering and terrorism financing. The central bank will publish a draft and seek feedback on the changes in September, Assistant Governor Adnan Zaylani Mohamad Zahid said in the text of a speech Thursday. Starting next year, the regulator is increasing… Read More
29th August 2019
Malaysian prosecutors on Wednesday said former prime minister Najib Razak abused his power to cover up the theft of hundreds of millions of dollars from the state fund 1MDB and used the fund for self-gratification. On the opening day of the biggest trial in the 1MDB financial scandal, prosecutor Gopal… Read More