- published: 27 Jun 2017
- views: 10884
The US Department of Justice (DOJ) in its third civil forfeiture suit on the 1MDB affair alleged around US$4.5 billion from the firm was misappropriated and also highlighted the purported masterminds, chief among them, it claimed, was Penang-born businessperson Low Taek Jho, better known as Jho Low. The DOJ covered in detail the alleged money trail from 1MDB to the bank accounts of Low and his associates, but on the side, also provided a glimpse of how he apparently courted the women of his dreams, supposedly using 1MDB-linked funds.
Umno vice-president Hishammuddin Hussein has challenged the US Department of Justice (DOJ) to press charges if they have proof of wrongdoing in the 1MDB affair. Hishammuddin also sought to cast doubt on the identity of the nameless Malaysian Official 1 (MO1), whose wife has now appeared in DOJ's court filings.
More than 30 Pakatan Harapan lawmakers today marched from the gates of Parliament to Bank Negara to petition governor Muhammad Ibrahim to start an investigation over the 1MDB affair. Leading the pack were opposition leader and Permatang Pauh MP Dr Wan Azizah Wan Ismail, Gelang Patah MP Lim Kit Siang, Bagan MP Lim Guan Eng and Shah Alam MP Khalid Samad. Holding up paper cutouts of "pink diamond" and a large red banner saying "Sayangi Malaysia Hapus Kleptokrasi" (Love Malaysia Destroy Kleptocracy), they walked for 30 minutes through 2.6km of roads and traffic. Ten representatives were allowed to enter Bank Negara to hand over a memorandum.
By Rujun Shen and Yantoultra Ngui SINGAPORE/KUALA LUMPUR (Reuters) - Police in Singapore said on Wednesday they have frozen two bank accounts in connection with an investigation into alleged financial mismanagement and graft at Malaysia's troubled state fund 1Malaysia Development Berhad (1MDB). It was the first time accounts outside Malaysia had been frozen in connection with the investigation, which has left Malaysian Prime Minister Najib Razak facing his biggest crisis since he took office in 2009. "On 15 July 2015, we issued orders under the Criminal Procedure Code to prohibit any dealings in respect of money in two bank accounts that are relevant to the investigation," Singapore police said in a statement. Police did not identify the banks or the accounts in question because the invest...
The producer of “The Wolf of Wall Street”, Red Granite, is in talks to settle a U.S. Justice Department lawsuit alleging that the movie was funded by money from 1MDB; SP Setia says it is on track to buy I&P, forming one of the largest property firms in Malaysia; and Genting delays the opening of Resorts World Las Vegas to 2020. Charlotte Chong has more.
The four-year divorce battle between former beauty queen Pauline Chai and billionaire Tan Sri Khoo Kay Peng over his £440 million (RM2.4 billion) fortune is finally over. Settlement to be decided by a UK High court judge later this year.
Claims of corruption at the state investment fund 1MDB have triggered a political power struggle in Malaysia. Arul Kanda, the former banker drafted in to restructure 1MDB at the start of this year, talks to the FT’s Michael Peel about dealing with this explosive affair. ► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Tourism and Culture Minister Nazri Abdul Aziz chided Perkasa for describing the launch of the East Coast Rail Link (ECRL) project on Aug 9 as a “Chinese affair”. The Umno supreme council member said if he could turn back time, he would want to learn the Mandarin language.
Parliament - Nov 4, 2008 Opposition parliamentarians walked out of the Dewan Rakyat today in protest against Finance Minister Najib Abdul Razak's refusal to entertain questions during his winding-up of the Budget 2009 Bill debates. Najib, who told the House that questions would be answered at the end of his speech, did not allow the numerous attempts for clarification. Having started his speech at about 4:30pm, Najib was not able go very far into his speech before the discussion became - for more than half-an-hour - a noisy melee between Pakatan Rakyat and Barisan Nasional MPs.
Malaysia has been rocked for more than a year by a financial scandal involving Prime Minister Najib Razak, a state investment firm, and an alleged frenzy of embezzlement stunning in its scope and complexity. Authorities in a half-dozen countries have launched investigations into suspicions that several billion dollars was looted from complicated financial transactions involving 1MDB and parked around the world. Following are answers to key questions in the affair. What is 1MDB? In 2009, a sovereign wealth fund owned by a northern Malaysian state was rebranded by Najib as 1Malaysia Development Berhad, or 1MDB, and turned into a federal entity focusing on investments in strategic development projects. The fund is owned by the finance ministry, which is headed by Najib. He also chaired t...