Tag: 1MDB

Najib seeks a last-minute postponement of yet another 1MDB case

Malaysian ex-PM Najib Razak, accused of committing an offence at the Complex of the Prime Minister's Department, Federal Government's Administrative Centre, Putrajaya between Feb 22 and Feb 26, 2016 and using his position to order amendments to the 1MDB final audit report, is seeking a...

Will Najib see jail time?

Now that the axe has fallen, albeit a little closer on former Malaysian Prime Minister Najib Razak, the question is, will he see jail time? The Kuala Lumpur High Court had ruled, this week (Nov 11), that Najib has a case to answer in all...

Mahathir is surprised that Najib is shocked about entering his defence in corruption case

Malaysian Prime Minister Tun Dr Mahathir Mohamad expressed surprised at ex-PM Najib Razak's 'shocked expression' that he had to enter his defence on seven charges in the 1MDB-linked SRC International trial. “I am shocked that he is shocked." Dr Mahathir said this after the media asked...

Najib in shock at having to enter defence on corruption charges

Najib Razak, the former Prime Minister of Malaysia, was in shock that he was not acquitted of all charges in the SRC International Sdn Bhd case with the KL High Court ordering him to enter his defence. His lawyer Muhammad Shafee Abdullah said Najib thought he would be acquitted of all seven...

Malaysia targets hidden properties worth $4.3b siphoned through 1MDB

Anti-graft buster chief Latheefa Koya told reporters Malaysia is working to locate assets worth $4.3 billion which are yet to be accounted for and acquired with stolen money from the sovereign fund 1MDB. The global money-laundering probe extends to at least six countries and Malaysia is working with these countries in an attempt to locate these properties. This...

Suspicion of 1MDB corruption did not stop Goldman Sachs officials lured by cash pile

A class action by shareholders brings new accusations and evidence from senior witnesses within Goldman Sachs who willing to testify that top officeholders knew about the corruption problems at 1MDB. But the top officials pushed the deal because of the money it made for the...

Cypriot bishop admits aiding fugitive 1MDB mastermind Jho Low to get an EU passport

The Archbishop of Cyprus Chrysostom II, head of the Orthodox Church in Cyprus, has admitted that he was involved in getting Malaysian fugitive, Jho Low a passport from that country. A senior Cypriot government official confirmed to Bloomberg yesterday, Nov 4, that Low has Cypriot nationality....

Jho Low granted asylum in a ‘third country’ but is he currently in China or the UAE?

Fugitive businessman and alleged mastermind of the global money-laundering 1MDB case is giving up billions that many say do not belong to him, but he remains elusive and no one from the US or Malaysia seem to be able to lay their hands on...

US Justice close to recovering US$1b from accused 1MDB mastermind

The US Justice Department said it is close to recovering US$1 billion from Jho Low, the fugitive alleged mastermind in the 1MDB global scandal. The Wall Street Journals said yesterday, the DOJ is closer to a civil-forfeiture settlement with Jho Low in the multi-billion dollar fraud. The...

1MDB board unaware US$1b split payment meant for JV company

Former 1MDB CEO Shahrol Azral Ibrahim Halmis conceded during cross-examination the 1MDB board was not informed about a decision to split a US$1 billion by 1MDB meant for the 1MDB-Petrosaudi joint-venture company (JVC) into US$300 million and US$700 million. The board had authorised one lump sum to be paid only to the JV company...