Asia Malaysia US$2.2 Billion deal linked by US justice to 1MDB scandal

US$2.2 Billion deal linked by US justice to 1MDB scandal

By Cordoba.Ali




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While in Malaysia, the Prime Minister Najib Razak is calling on netizens to portray a positive image of Malaysia on social networks, the US justice department is fast moving in its lawsuits, seizures and others against the 1MDB.

The 1MDB is Najib’s baby, a pet baby that he built from scratch, and where he did not know what he was doing when he was signing cheques worth billions of dollars.

And through the 1MDB, money was channeled to his account and he later said he did not who put that money in his personal account, or that he did not touch that money for his personal use.

Nevertheless, despite his call for a clean sheet on social media, the space is littered with 1MDB’s, frauds, corruption charges, bickering in parastatal bodies and cat fight among ministers.

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Now, what about this lawsuit again?

U.S. authorities are investigating the US$2.2 billion purchase of a U.S. energy company by a Middle Eastern government investment fund that was arranged by Goldman Sachs Group Inc. GS -0.24% and netted one investor a US$300 million windfall in less than a week, according to a government lawsuit and people familiar with the investigation.

Investigators allege that the investor was an important player in the scandal involving Malaysian government-investment fund 1Malaysia Development Bhd., or 1MDB. Goldman earned hundreds of millions in fees arranging US$6.5 billion worth of bond deals for 1MDB.

The saga continues!

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