1MDB SCANDAL
Malaysia's ex-leader Najib moved from prison to house arrest after court clears transfer
Najib Razak, Malaysia's former Prime Minister, has been transferred to house arrest from prison. He is serving a reduced six-year sentence linked to a corruption case. The transfer was approved by the Kuala Lumpur High Court following previous legal hurdles. Najib still faces a separate 15-year sentence linked to additional corruption charges that is under appeal. He maintains his innocence regarding all allegations tied to the 1MDB scandal.
Jailed Malaysian ex-PM Najib pays fine, meeting condition for house arrest
Jailed Malaysian former prime minister Najib Razak paid a $12 million fine Friday, allowing him to serve the rest of his sentence under house arrest, his party said. Malaysian King Sultan Ibrahim had granted Najib the conditional pardon in September, allowing him to serve out the rest of his prison sentence under house arrest provided he pay the fine.
Malaysia court finds ex-PM Najib Razak guilty of abuse of power in biggest 1MDB trial
Former Malaysian Prime Minister Najib Razak faces more jail time and fines. A judge found him guilty of abuse of power in the 1MDB scandal. The ruling could impact Prime Minister Anwar Ibrahim's government. Najib denies wrongdoing, claiming he was misled by financier Jho Low. The court rejected his defense regarding the source of funds.
Malaysia's Najib Razak: From prime minister to prison
Najib Razak, once groomed for leadership, now serves jail time for graft. A crucial verdict looms in a second trial concerning the 1MDB scandal. Investigations have deepened allegations against him and his wife, Rosmah Mansor. This marks a significant fall for the leader who promised reforms. The 1MDB scandal involved billions of dollars diverted from the sovereign wealth fund.
Singapore court clears way for $2.7 bln suit against Standard Chartered over alleged role in 1MDB fraud
A Singapore court has permitted a substantial lawsuit against Standard Chartered Bank. The action, valued at $2.7 billion, concerns the bank's alleged involvement in the 1MDB fraud. Liquidators are pursuing the recovery of these funds. This legal development marks a significant step in the ongoing efforts to reclaim misappropriated assets.
Standard Chartered faces $2.7 bn lawsuit linked to 1MDB scandal
Standard Chartered Plc is being sued for $2.7 billion by liquidators of Malaysia’s 1MDB fund, who allege the bank enabled over 100 intrabank transfers between 2009 and 2013 that helped launder stolen funds, Bloomberg reported. The UK-based bank, sued in Singapore, denies the claims, stating it had reported suspicious activity, closed the accounts in 2013, and cooperated with authorities.
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Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
Goldman Sachs has filed a lawsuit against Malaysia in a British arbitration court regarding a settlement agreement related to the 1MDB corruption scandal. The dispute revolves around whether Malaysia has recovered at least $500 million as of August 2022 and whether an interim payment is due. Malaysia's Prime Minister has expressed his intention to review the settlement deal with the bank and potentially sue them.
Malaysia's Appeals Court upholds Najib's acquittal in one of his 1MDB trial
Former Malaysian Prime Minister Najib Razak's acquittal of audit tampering in relation to the 1MDB scandal has been upheld by Malaysia's Court of Appeal. The court dismissed the appeal by prosecutors after they failed to file the necessary documents on time. Najib remains in prison for other corruption charges.
Why Leonardo DiCaprio testified at trial of former Fugees rapper Prakazrel 'Pras' Michel
Here is a look at the main characters in the international scandal, and the fund that fueled it.
Jailed Malaysia ex-PM Najib Razak acquitted in latest 1MDB trial
The 1MDB development fund was set up months after Najib became prime minister in 2009. Investigators allege more than $4.5 billion was stolen from the fund and laundered by Najib's associates through layers of bank accounts in the United States and other countries to finance Hollywood films and extravagant purchases that included hotels, a luxury yacht, art and jewellery. More than $700 million landed in Najib's bank accounts Reuters.
Malaysia election kicks off, close race expected
Opposition leader Anwar Ibrahim, who campaigned on a platform of fighting corruption, said he was "cautiously confident" his coalition would win a simple majority in the 222-member parliament.
1MDB scandal: Malaysia's top court sends Najib Razak to jail as ex-PM loses final appeal
Najib, 69, was found guilty by a lower court in July 2020 of criminal breach of trust, abuse of power, and money laundering for illegally receiving about $10 million from SRC International, a former unit of 1MDB. He had been out on bail and pending appeals.
Malaysia’s 1MDB sues Deutsche Bank, Coutts, JP Morgan to recoup $23 billion
1MDB is claiming $1.11 billion from Deutsche Bank (Malaysia) Bhd, $800 million from JP Morgan (Switzerland) Ltd and $1.03 billion from a Swiss-based Coutts unit, and interest payments from all of them, according to the lawsuit.
Malaysian ex-PM Najib faces bankruptcy over tax bill
Najib lost power in 2018 when his party, which had governed the Southeast Asian nation for six decades, was defeated at the polls after he became embroiled in a financial scandal.
Singapore blogger ordered to pay $100,000 for defaming PM
Critics say the case is the latest example of the tightly-regulated city-state's government being heavy-handed and seeking to silence dissent online.
$10 mn pay-cut for Goldman Sachs CEO David Solomon over 1MDB scandal
Goldman Sachs pleaded guilty in October over its role in the scandal, and agreed to pay nearly $3 billion to close US investigations.
Former Trump fundraiser charged with illicit lobbying on 1MDB, China
Elliott Broidy was charged in Washington federal court with one count of conspiracy to act as an unregistered foreign agent after allegedly agreeing to take millions of dollars to lobby the Trump administration.
Goldman Sachs pays Malaysia $2.5 billion as part of 1MDB deal
The agreement, which has a total value of $3.9 billion, was announced last month after lengthy negotiations.
Malaysian Former PM Najib Razak convicted of 7 graft charges over 1MDB investment fund
A Malaysian court pronounced former Prime Minister Najib Razak guilty on Tuesday in his first corruption trial over the multibillion-dollar looting of the 1MDB investment fund.
View: Goldman Sachs' anti-bro pledge isn't just a stunt
The company is caught up in one of the biggest frauds in history: the 1MDB scandal in Malaysia.
Goldman Sachs in talks to admit guilt, pay $2 billion fine to settle 1MDB probe
The guilty plea would come from a unit in Asia, the people said, asking not to be identified because the talks are confidential. The agreement would also include a fine of almost $2 billion, the people said. Federal agencies have been seeking penalties between $1.5 billion and $2 billion in recent weeks.
Deutsche Bank faces US investigation over work for Malaysia's 1MDB fund
Tim Leissner, another ex-Goldman executive who pleaded guilty last year for his role in the scandal, has been helping with the Deutsche Bank examination.
With a pool, gym & helipad, the 300-foot scandal-hit superyacht Equanimity goes up for sale; priced at $130mn
The yacht is being given out for sale at around half its purchase price.
Goldman Sachs's 1MDB scandal deepens with Abu Dhabi funds’ lawsuit
The Abu Dhabi funds are seeking unspecified damaged in their complaint, which was filed in state court in New York.
View: This Asian Nation might revive faith in democracy
Malaysia shows that demagoguery doesn’t have to be the inevitable consequence of elite misrule.
Goldman Sachs bankers 'cheated' Malaysia over 1MDB: PM Mahathir
The US bank earned about $600 million in fees for its work with 1MDB.
Former Malaysian PM Najib Razak, ex-treasury chief charged with criminal breach of trust
The charges against Najib and Irwan Serigar Abdullah, Malaysia's former Treasury secretary-general, were the latest in a widening crackdown on corruption.
When CEOs and billionaires courted million-dollar controversies!
Some billionaires have found themselves in the wrong place over 'some' assets.
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