The DOJ and SEC Thursday imposed $3.3 billion in financial penalties against Goldman Sachs Group Inc. and a Malaysia subsidiary to resolve FCPA charges related to Malaysian sovereign wealth fund 1Malaysia Development Berhad.… Continue Reading
A court in Malaysia convicted former Prime Minister Najib Razak Tuesday on seven counts for looting the sovereign wealth fund 1Malaysia Development Berhad, including money laundering, abuse of power, and criminal breach of trust.… Continue Reading
Four years on, the fallout from the 1MDB scandal continues. A key conspirator has agreed to forfeit up to $900 million in assets. Malaysian investigators just alleged that the country’s ex-premier approached prosecutors and foreign royalty about a cover up.… Continue Reading
One luxury item is showing up more often in alleged graft-related asset seizures: wrist watches, especially the high-end variety with eye-watering price tags.… Continue Reading
The Malaysian anti-corruption agency arrested ex-PM Najib Razak’s wife Wednesday for laundering money looted from the 1MDB sovereign wealth fund.
Eight former agents from Malaysia’s foreign intelligence agency were arrested this week for allegedly stealing $12 million in government funds.… Continue Reading
The $250 million super yacht once belonging to 1MDB fugitive Low Taek Jho docked in Malaysia Tuesday.
Malaysia’s former prime minister Najib Razak was charged Wednesday with three counts of money laundering tied to the looting of billions of dollars from a government sovereign wealth fund.
Police in Malaysia said Najib stole about $10 million from a unit of 1MDB called SRC International.… Continue Reading
Last week police in Malaysia arrested former prime minister Najib Razak after seizing $273 million of loot from his houses and condos.
Prosecutors think Najib and his wife bought the loot with money stolen from Malaysia’s sovereign wealth fund, 1MDB.… Continue Reading
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