Malaysia’s former prime minister Najib Razak was arrested Tuesday at his mansion in Kuala Lumpur and will be charged Wednesday in connection with the looting of billions of dollars from a government sovereign wealth fund.… Continue Reading
Posts Tagged: Malaysia
Police in Kuala Lumpur are releasing more details about what they’ve seized from houses and condos belonging to Najib Razak, the former prime minister voted out of office this month amid a growing corruption investigation.… Continue Reading
There are currently six banks with open disclosed FCPA-related investigations.
Shell companies have been called the “getaway cars” of corruption. In some jurisdictions, including the United States, individuals can easily set up anonymous companies and use them to hide stolen funds.… Continue Reading
A retired Navy Captain who served as the U.S. Naval Attaché to the Philippines pleaded guilty Tuesday for helping a Singapore-based defense contractor avoid vessel and cargo inspections by using diplomatic cover.… Continue Reading
Two former executives of a Singapore-based defense contractor have been extradited to the United States in the massive bribes-for-secrets scandal that has rocked the U.S. Navy’s Pacific Command.
Neil Peterson, 38, and Linda Raja, 43, both of Singapore, appeared Monday in federal court in San Diego.… Continue Reading
Singapore’s bank regulator Tuesday shut down a second bank for “serious failures in anti-money laundering controls and improper conduct” linked to Malaysia’s 1MDB fund.
The Monetary Authority of Singapore (MAS) said Falcon Bank “demonstrated a persistent and severe lack of understanding of MAS’ AML requirements and expectations.”… Continue Reading
Regulators charged with enforcing anti-corruption, anti-money laundering, and economic sanctions laws and regulations have turned new attention to the real estate industry, and investigations and enforcement efforts span the globe.
Over recent years, U.S.… Continue Reading
From 2009 to at least 2013, private individuals were allegedly able to siphon off more than $3.5 billion from the wealth fund of Malaysia and go on a high-end luxury shopping spree in several countries including the United States, the United Kingdom and Switzerland for property, museum-quality art and a private jet. … Continue Reading
The DOJ filed a civil forfeiture complaint Wednesday against assets allegedly bought with money looted from Malaysia’s sovereign wealth fund, 1Malaysia Development Berhad.
More than $3.5 billion was misappropriated from the fund, the DOJ said.… Continue Reading
Anthony Kevin Morais, a prosecutor in Malaysia’s Anti-Corruption Commission, was abducted and murdered in Kuala Lumpur. After disappearing on September 4, his body was discovered late last week in a barrel of concrete at the bottom of a river.… Continue Reading
Malaysia Prime Minister Najib Razak on Tuesday fired his deputy premier, Muhyiddin Yassin, who publicly questioned the government’s closure of two newspapers.
Muhyiddin also asked about delays in the continuing investigation into state-investment fund 1 Malaysia Development Bhd.… Continue Reading