Malaysia’s 1Malaysia Development Bhd. (1MDB) and SRC International Sdn Bhd (“SRC”) have filed lawsuits against JPMorgan Chase JPM and Deutsche Bank DB to recoup assets worth more than $23 billion. The lawsuit is related to a scandal that involves misappropriation
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High Court orders Jho Low’s right-hand man ‘Fat Eric’ to pay RM68m in tax arrears
–A+A KUALA LUMPUR (May 4): The High Court here had today ordered Eric Tan Kim Loong, who is also known as “Fat Eric”, to pay almost RM68 million in tax arrears from 2010 to 2013
Read moreMalaysian ex-PM Najib faces bankruptcy over tax bill
Malaysia’s scandal-plagued former prime minister Najib Razak is facing bankruptcy for allegedly failing to pay more than $400 million in taxes, which could bring his political career to an end. Najib lost power in 2018 when his party, which had
Read moreMalaysia’s ex-prime minister appeals graft conviction in 1MDB scandal
PUTRAJAYA, Malaysia — A Malaysian court Monday began hearing an appeal by ex-Prime Minister Najib Razak to overturn his conviction and 12-year jail sentence linked to the massive looting of the 1MDB state investment fund
Read moreTony Pua urges Putrajaya to go after KPMG, Deloitte next after AmBank agrees to RM2.83b 1MDB settlement
KUALA LUMPUR, Mar 1 — DAP MP Tony Pua today urged the Finance Ministry to now focus on the claims against former 1Malaysia Development Berhad (1MDB) auditors, KPMG and Deloitte Malaysia. The Damansara MP said
Read moreGoldman Sachs CEO Solomon pays price of 1MDB scandal
NEW YORK (Jan 27): Goldman Sachs Chief Executive David Solomon’s annual pay fell by $10 million, or 36%, in 2020, according to regulatory disclosures filed Tuesday, reflecting the bank’s role in Malaysia’s 1MDB scandal. Solomon
Read more1MDB: Swiss banker found guilty in RM2.968 billion transfer
A FORMER Coutts & Co. banker was found guilty of failing to flag money-laundering concerns related to a US$700 million (RM2.968 billion) transfer into an account controlled by Low Taek Jho, also known as Jho
Read more1MDB probe: Ex-BSI banker gets 54 months’ jail for money laundering, cheating
SINGAPORE – A Singapore court jailed a former wealth manager of Swiss bank BSI for four and a half years on Wednesday for money laundering and cheating in a case linked to an investigation involving
Read moreSingapore slaps fines on Credit Suisse and UOB in money laundering probe of Malaysian development fund
Singapore’s central bank has fined Credit Suisse and United Overseas Bank (UOB) for breaches relating to the scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB), it said in a statement on Tuesday The Monetary
Read moreChinese deals in Malaysia under scrutiny
China’s growing involvement in Malaysia has been praised and panned in recent years. The Sunday Times looks at how its widening presence is drawing increasing attention in the first of a two-part series. Tomorrow, why
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