1MDB Watch

Putrajaya files forfeiture suit against Najib, Rosmah over items bought with stolen 1MDB funds
KUALA LUMPUR (May 8): The Government and the police have filed a civil forfeiture suit against former premier Datuk Seri Najib Razak, his wife Datin Seri Rosmah Mansor and several others in relation to jewellery, cash, handbags and luxury vehicles said to have been bought using 1Malaysia Development Berhad (1MDB) funds. This follows two notices of motion and supporting affidavits filed at the ...
Officials said to meet to coordinate Goldman approach over 1MDB
(May 7): Law enforcement officials from the US, Malaysia and Singapore are meeting near Kuala Lumpur this week to coordinate their legal approaches toward Goldman Sachs Group Inc over its work raising money for scandal-plagued state fund 1MDB, people with knowledge of the matter said. The meetings are taking place on Tuesday and Wednesday and include representatives from the US Department of ...
US begins return of US$200 mil in 1MDB funds to Malaysia
KUALA LUMPUR (May 7): The US government has begun returning to Malaysia some US$200 million ($272.5 million) recovered from asset seizures linked to state fund 1MDB, with about a quarter of the amount already repatriated, the two countries said on Tuesday. Malaysian and US authorities say about US$4.5 billion were allegedly siphoned from 1Malaysia Development Berhad (1MDB), a state fund ...
Malaysia sends ex-Goldman banker facing 1MDB charges to the US
KUALA LUMPUR (May 6): Former Goldman Sachs banker Roger Ng has been sent to the United States to face charges over 1MDB-related offences in a deal worked out between Malaysian investigators and the US Department of Justice (DOJ). The US had asked for Ng, a Malaysian, to be extradited. Ng initially fought the extradition in a Malaysian court but later changed his mind and volunteered to go. ...
Singapore said to send money from ex-Goldman banker to Malaysia
(May 5): Singaporean authorities are preparing to return about $35 million surrendered by former Goldman Sachs Group Inc. banker Roger Ng and his family in connection with the 1MDB scandal to Malaysia, according to people familiar with the matter. A Singaporean court in recent weeks cleared the way for the funds to be repatriated, said the people, who asked not to be named discussing sensitive ...
Here's why High Court dismissed Najib's bid to strike out SRC charges
KUALA LUMPUR (Apr 29): Former premier Datuk Seri Najib Razak has failed in his bid to strike out all his seven charges in relation to the misappropriation of SRC International Sdn Bhd's funds of RM42 million ($13.8 million). High Court judge Mohd Nazlan Mohd Ghazali on Monday dismissed an application to strike out all the charges raised by the defence. Justice Nazlan said the three criminal ...
'Najib is not above the law,' says Malaysia's Attorney General
KUALA LUMPUR (April 3): The trial of Datuk Seri Najib Razak, the former Prime Minister and Finance Minister, is a demonstration that everyone is equal before the law, said Attorney General Tommy Thomas in his opening statement. “A former Prime Minister is charged under due process in the ordinary court of the land, just like any other accused. “Najib is not above the law and his ...
Equanimity superyacht sold to Genting for 'very satisfactory' US$126 mil
SINGAPORE (April 3): Equanimity, the multi-million dollar superyacht that once belonged to the alleged mastermind of Malaysia’s 1MDB scandal Low Taek Jho (Jho Low), has been sold for a “very satisfactory sale price” of US$126 million ($170.6 million) to KLSE-listed Genting Berhad. The sale price is nearly half of the US$250 million which Low supposedly paid for the yacht in 2014, and ...
Najib's first 1MDB trial starts today in key test for Malaysia
(Apr 3): The first of many trials for Malaysia’s former premier Najib Razak will serve as a key test of the nation’s readiness to get to the bottom of the 1MDB scandal. Najib is set to appear in court on Wednesday to face seven of 42 corruption and money-laundering charges linked to his role in 1MDB, the state fund at the centre of a global heist that allegedly saw US$4.5 billion ($6.1 ...
IRB slaps Najib with $500 mil tax bill
KUALA LUMPUR (Apr 1): The Inland Revenue Board (IRB) has slapped Datuk Seri Najib Razak with an extra tax bill of around RM1.5 billion ($498 million) for 2011-2017. Sources say the amount is on top of what the former prime minister had paid based on his declared income for that seven years. The IRB sent a letter to Najib just over a week ago stating the extra tax he has to pay, sources ...