Tag: money laundering

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...

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...

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 washes his hands off 1MDB scandals, says others are behind everything

From the person who arranged meetings between Najib Razak with the Saudi Arabia ruler King Abdullah Abdulaziz Al-Saud to who knew Jho Low first, the ex-Malaysian PM washed his hands of the 1MDB scandal in a calm, composed manner. Not to mention the SRC International Sdn Bhd, which Najib explicitly said was not...

Najib denies giving orders to amend 1MDB-linked company’s constitution to give him control

Former Malaysian prime minister Najib Razak today denied at the High Court that he ordered amendments to articles of SRC International Sdn Bhd’s constitution to give him control. He told the High Court at the hearing of his RM42 million SRC International money laundering and...

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...

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...

‘No smoking gun’ say Najib’s lawyers in his 1MDB-linked case

Will ex-PM Najib Razak be asked to enter his defence plea in the SRC International trial or will he be given the benefit of the doubt? The prosecution and defence wrapped up their submissions yesterday, with the prosecutors saying millions of ringgit went in and out of Najib's account during the...

Malaysian officials know where Jho Low is, aim to bring him back by December

Kuala Lumpur—Police in Malaysia said on September 25, Wednesday, that they are aware of the whereabouts of fugitive Malaysian banker Low Taek Jho, popularly known as Jho Low, and that they are confident that they will be able to bring him back to the...

Trial of former Malaysian PM Najib over 1MDB scandal progresses

Kuala Lumpur — The trial of former Prime Minister Datuk Seri Najib Razak over the 1MDB scandal began on Wednesday, August 28. This time, the former Prime Minister is facing 21 counts of money laundering as well as four counts of abuse of power. According...