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
Read moreCategory: 1MDB
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
Read moreMAS bars former Goldman Sachs banker from trading in Singapore over 1MDB-related breaches
SINGAPORE: The Monetary Authority of Singapore (MAS) on Monday (Mar 13) issued a 10-year Prohibition Order (PO) against former Goldman Sachs director Tim Leissner for 1MDB-related breaches. The local financial regulator said in its press release
Read moreEx-BSI banker Yeo Jiawei jailed 30 months for witness tampering in 1MDB investigation
SINGAPORE: Former BSI banker Yeo Jiawei was sentenced to 30 months’ jail on Thursday (Dec 22), for tampering with key witnesses in the money laundering investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). He
Read moreEx-BSI banker Seah gets 2 weeks’ jail and $10k fine
She is the second person to be convicted on charges linked to Singapore’s 1MDB probe Former BSI senior banker Yvonne Seah Yew Foong was sentenced to two weeks’ jail and a $10,000 fine yesterday. She
Read moreBanker in 1MDB case worked with Malaysian PM’s friend: witness
[SINGAPORE] A private banker on trial in Singapore for his alleged role in Malaysia’s 1MDB fund scandal worked closely with a friend of Malaysian Prime Minister Najib Razak, a court heard Tuesday. A prosecution witness
Read moreSingapore orders bank closure and fines over 1MDB links
The Monetary Authority of Singapore has ordered a Swiss merchant bank to close and fined two other banks for breaching anti-money laundering controls. The action follows an investigation into money flows linked to the Malaysian
Read moreSingapore to use data tracking against money-laundering
SINGAPORE — Singapore will step up the fight against money-laundering with a newly created surveillance unit and data tracking but private banks must take the lead, its chief financial regulator said Tuesday (Sept 6). Mr
Read moreThose implicated in US 1MDB lawsuits must clear their name
Malaysian Prime Minister Najib Razak said on Monday (July 25) that those named in the United States’ Department of Justice (DOJ) civil lawsuits on the freezing of assets linked to 1Malaysia Development Berhad (1MDB) must
Read moreMalaysia 1MDB investigation: US seeks to seize $1bn in assets
The US Justice Department is looking to seize more than $1bn (£761m) in assets as part of its investigation into Malaysia’s state fund 1MDB. Lawsuits filed in Los Angeles by the Justice Department allege there
Read more1MDB pays coupon for debt after missing two interest payments
KUALA LUMPUR (BLOOMBERG) – Malaysia’s troubled state investment company 1Malaysia Development Bhd paid the coupon on its Islamic debt after missing two payments on other securities earlier. 1MDB undertook the scheduled payment of 143.8 million ringgit
Read moreMinister scoffs at petition to oust Najib
KUALA LUMPUR • Communications and Multimedia Minister Salleh Said Keruak yesterday poured cold water on the notion that Prime Minister Najib Razak could be ousted through the Malaysian King, using millions of public signatures. Datuk
Read more