Tag: 1MDB

1MDB: Malaysia’s extraordinary financial scandal

Malaysia's extraordinary 1MDB corruption scandal allegedly saw top officials loot billions from a state fund and go on a worldwide spending spree -- buying a super yacht, paintings by Van Gogh and Monet, and financing a Hollywood blockbuster. It also dragged in global banking giant...

Police confirm Jho Low is still a wanted man in Singapore

Singapore—Fugitive Malaysian financier Low Taek Jho, more popularly known as Jho Low, continues to be a wanted man in Singapore, financial publication The Edge Singapore reported on January 11, citing it had gotten confirmation from a spokesman fro the Singapore Police Force. The Edge Singapore...

Najib tells court about shock and surprise over large sums of money in his private bank accounts

Kuala Lumpur -- Former Malaysian Prime Minister Najib Razak has said in court that he was shocked and surprised on discovering that large sums of cash had been deposited in his private bank accounts. Najib said that he did not manage the accounts personally and...

Malaysia ex-PM ‘sought Abu Dhabi royal’s help over scandal’

Malaysia's disgraced ex-leader Najib Razak allegedly sought help from Abu Dhabi's crown prince to conceal wrongdoing linked to a multi-billion-dollar graft scandal, recordings released Wednesday by investigators showed. Huge sums were looted from Malaysian sovereign wealth fund 1MDB and used to buy items ranging from...

Judge turns down bid to impeach Najib for allegedly giving conflicting statements

Kuala Lumpur -- The High Court on Monday (Jan 6) dismissed an application by the prosecution to impeach former Prime Minister Najib Razak for allegedly giving conflicting statements to the Malaysian Anti-Corruption Commission (MACC) and to the court pertaining to his signatures on certain...

Malaysia’s The Edge to Jho Low: Stop the nonsensical spin you are doing with help from your friends in ST

Kuala Lumpur—Fugitive Malaysian financier Low Taek Jho’s interview with The Straits Times (ST), his first in four years, did not go down well with everyone, which is perhaps unsurprising, as Mr Low portrayed himself as a mere ‘intermediary’ in the 1MDB scandal. Malaysian business publication...

Co-author of ‘Billion Dollar Whale’ calls ST’s Jho Low interview ‘pointless’

The Wall Street Journal’s Tom Wright, who co-wrote an expose about fugitive financier Low Taek Jho’s involvement in the 1Malaysia Development Berhad (1MDB) scandal, has made his views known on social media regarding an interview with Mr Low published in The Straits Times (ST)...

Najib says he wants to know the truth about the missing funds

Malaysia's ex-PM Najib Razak says he wants to know the truth about the funds that are declared missing by the prosecution in his SRC International Sdn Bhd's case. He disagreed with prosecutors who said the funds, RM4 billion borrowed from the Retirement Fund Incorporated (KWAP) went missing. He said...

Najib in the dark over billions managed by others in his accounts

Former Malaysian prime minister Najib Razak told the High Court that other people were managing his private banking accounts and he did not give them the right to do so. Once again, Najib is putting the blame on other people for the mess done with...

Najib spent US$130,625 on a luxury watch for his wife’s birthday

Najib spent US$130,625 on a luxury watch for his wife's birthday gift in 2014. He also insisted all the expenditure was done with discretion and for diplomatic purposes. "As I have stated earlier, I believe I retain full discretion on how to spend the funds in...