1Malaysia Development Berhad (1MDB)

MACC man disagrees Jho Low solely behind SRC looting

KUALA LUMPUR (Aug 23): The investigating officer (IO) probing the misappropriation of funds belonging to SRC International Sdn Bhd yesterday indicated that former prime minister Datuk Seri Najib Razak had more of an interest in the matter than businessman Low Taek Jho.

1MDB trial postponed again

KUALA LUMPUR (Aug 20): Former prime minister Datuk Seri Najib Razak’s trial over his alleged abuse of power and money laundering of RM2.28 billion ($755.3 million) in 1Malaysia Development Bhd (1MDB) funds has been postponed to Monday.

Appointed prosecutor Datuk Seri Gopal Sri Ram told High Court Justice Collin Lawrence Sequerah that the trial could not begin yesterday as the prosecution in Najib’s ongoing SRC International Sdn Bhd has not completed making its case yet.

Postponement of SRC International trial could delay 1MDB trial, as both fall on same day

SINGAPORE (Aug 19): The 1Malaysia Development Bhd (1MDB) trial involving former Malaysian prime minister Najib Razak could be delayed — yet again — because he faces two court hearings on the same day: Aug 19.

Apart from the 1MDB trial, Najib has to appear in court for the SRC International trial. He is facing seven charges related to corruption, power abuse and money laundering of funds belonging to SRC International, a subsidiary of 1MDB, and, separately, 25 criminal charges related to 1MDB money.

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High Court rejects AGC's appeal, upholds RM11.26 mil compensation to The Edge

KUALA LUMPUR (Aug 14): The High Court here has today agreed to award an additional RM500,000 in exemplary damages — in addition to its deputy registrar's earlier decision to award RM11.26 million in general damages for loss of revenue — to The Edge Communications Sdn Bhd over the three-month suspension of its publications in July to September 2015.

"There [are] exceptional circumstances for the court to grant exemplary damages sought as the publication has been a victim of reckless and unconstitutional act of the respondent [Home Ministry in ordering the suspension].

17 former and current Goldman Sachs directors slapped with criminal charges over 1MDB

KUALA LUMPUR (Aug 9): 17 current and former Goldman Sachs directors belonging to three of its subsidiaries have been slapped with criminal charges over their handling of the 1 Malaysia Development Bhd (1MDB) scandal, with the government seeking custodial sentences.

In a statement today, Attorney-General Tommy Thomas said the 17 individuals connected to Goldman Sachs were slapped with criminal charges filed under Sections 367(1) of the Capital Markets and Services Act, 2007 (CMSA).

Briefs

SINGAPORE (Aug 12): “To my understanding, OP was a term — Optimus Prime, I don’t know — to refer to the Prime Minister.”AmBank relationship liaison manager Joanna Yu, referring to the alias used by Jho Low for former Malaysian prime minister Najib Razak. Optimus Prime is the leader of the Autobots, the good guys in the animated alien robot series Transformers.

New mandatory cybersecurity rules for financial industry

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Joanna Yu and mystery witness scheduled to testify this week

(July 22): Former AmBank Bhd relationship liaison manager Joanna Yu and a mystery witness are scheduled to testify at the trial of Datuk Seri Najib Razak on Monday, a prospect anticipated by many given that the former managed and oversaw Najib’s bank accounts as well as those of SRC International Sdn Bhd.

The mystery witness is speculated to be Tun Dr Ling Liong Sik, Prime Minister Tun Dr Mahathir Mohamad, Datuk Mohd Hafarizam Harun (a lawyer who represented Najib) or Ling’s previous attorneys, Ranjit Singh and Yeoh Cho Keong.

More questions than answers on Jho Low's ties

(July 22): The SRC trial, which entered its 40th day last week, revealed a fresh link between Datuk Seri Najib Razak and fugitive businessman Low Taek Jho — also known as Jho Low — in the transfer of US$681 million ($927 million) allegedly belonging to 1Malaysia Development Bhd into the former premier’s bank account.

See: Joanna Yu and mystery witness scheduled to testify this week

Jho Low was at Najib's home when AmBank MD facilitated opening of ex-PM's account

KUALA LUMPUR (July 17): Former AmBank managing director Cheah Tek Kuang told the High Court here that fugitive businessman Low Taek Jho was at Datuk Seri Najib Razak's personal home in Jalan Langgak Duta, when he went there to help open the former premier's bank accounts in 2011.

Cheah, 72, who is the 50th prosecution witness, told the court that he was given the green light by AmBank chairman Tan Sri Azman Hashim, and as a result, he went to Najib's Duta home. He was met upon arrival by Low, who is better known as Jho Low.

Deutsche Bank faces US Justice Department probe over 1MDB

SINGAPORE (July 15): The US Department of Justice (DOJ) is investigating Deutsche Bank as part of a broadened probe of Malaysia’s scandal-plagued 1Malaysia Development Bhd (1MDB) investment fund, according to a person with knowledge of the matter.

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