Tag: 1MDB

‘The Malaysian people were defrauded on an enormous scale’, FBI on 1MDB

The United States government plans to move and seize more than US$1 billion in assets purchased with money that people close to Najib reportedly “stole” from his brainchild, Malaysian strategic investment fund 1MDB. The assets are in the form of real estate, art and other luxury...

WSJ ADMITS MISTAKE BUT DID NAJIB JUMP THE GUN

In an article on Goldman Sachs Group Inc being probed by US investigators for misconduct, Wall Street Journal alleged the group wired US$3billion to a bank in Singapore. The proceeds were from a 1MDB bond staged by Goldman. However, after the Monetary Authority of Singapore...

1MDB investigations biggest financial scandal in Singapore

State prosecutors in Singapore said the tiny republic's investigation involving embattled 1Malaysia Development Berhad - the Malaysian sovereign fund embroiled in a global scandal - is the largest money laundering probe ever undertaken in Singapore. This is what State prosecutors said Friday in written submissions to...

Jho Low owns Good Star, says WSJ leaked Malaysian Central Bank letter

Letter confirms early reports by both Wall Street Journal and Sarawak Report that those accused or suspected of siphoning 1MDB money used an intricate, complicated web of companies layered in such a way to create confusion to investigators. But WSJ's revelation explains it In its revelation on...

FINMA links BSI Singapore, BSI Swiss to 1MDB

In a massive revelation, the Swiss financial market supervisory authority FINMA has conclusively linked troubled bank BSI AG and its Singapore branch, to the global scandal surrounding Malaysian sovereign wealth fund 1MDB. FINMA said through business relationships and transactions linked to the corruption scandals surrounding...

1MDB probed by Finma in biggest financial scandal in history

After the Swiss Attorney General Office, now it is the financial regulator of the country, Finma, that is stepping up probes into the 1Malaysian development fund (1MDB) and Petroleo Brasileiro SA (Petrobras). Finma director Mark Branson said the 1MDB and Petrobras involves billions of US dollars...

1MDB Saga: From the most foul language movie, to a Mosque

By Ali Cordoba The 1MDB has every ingredients for a thriller, said former Prime Minister Tun Mahathir Mohamad. And this article depicts some of the thrilling moments, involving red carpet hollywood stars, to a corporate social responsibility project involving a Mosque in Kuala Lumpur township,...

Bonds prices fall, ringgit dwindles again

Dwindling Sukuk gets ringgit boost thanks to the Islamic Development Bank (IDB), but the local currency is on a slide with the shadow of 1MDB looming. The IDB plans to sell local currency Islamic bonds (sukuk) in the Malaysian market this year after a three-year...

Swiss AG requested additional information from Malaysia on 1MDB

In a correspondence with the Office of the Swiss Attorney General of Switzerland (OAG), its communications specialist Anthony Brovarone confirmed the request for additional information from the Malaysian authorities. "The OAG can however confirm that the requested additional information have recently been transmitted to the...

1MDB default puts Malaysia's balance sheet at risk, says Moody

The failure by 1Malaysia Development Board (1MDB) to service a coupon payment on a US$1.75 billion notes heightens the risks on Malaysia's balance sheet. These damning comments came from Moody's, the ratings agency, said Malaysia's government inability to rein in these off-budget risks stand in...