1Malaysia Development Berhad (1MDB)

Briefs
SINGAPORE (May 27): “We believe that the president of the US is engaged in a cover-up.” — US House Speaker Nancy Pelosi, following a meeting with other Democratic Party leaders on whether or not to impeach US President Donald Trump. Singapore and Malaysia suspend intercity rail project The construction of a $1.4 billion rail project linking Singapore and Malaysia’s southern state of ...
Investigators say US$248 mil in illicit 1MDB funds flowed through Singapore banks
SINGAPORE (May 27): Two hundred and twelve Hermès handbags valued at an estimated RM47 million (RM15.5 million) were among the 306 handbags found at a luxury condominium last year. They are now part of a multimillion-ringgit forfeiture suit filed by the Malaysian government against 18 individuals and organisations. Besides the handbags, 401 watches valued at RM74 million, 11,990 pieces of ...
Malaysian police raid Deloitte office for 1MDB-related documents
KUALA LUMPUR (May 23): Malaysian police raided the Kuala Lumpur office of audit firm Deloitte on Thursday as part of a widening probe into a multibillion-dollar scandal at state fund 1MDB, two police sources told Reuters. Investigators seized documents and records related to the firm's dealings with 1Malaysia Development Bhd (1MDB), one of the sources said. A representative for Deloitte ...
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. ...
Briefs
SINGAPORE (May 6): “What’s wrong with a female emperor, I wonder? Those practices need to change in the modern era.” — Yukiko Minegishi, who works with a uniform maker in Tokyo. WikiLeaks founder Assange sentenced to jail WikiLeaks founder Julian Assange has been sentenced to nearly a year in jail for skipping bail as he prepares to fight extradition to the US. His sentencing ...
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 ...
Malaysia's markets set for rebound, ex-CIMB chief Nazir says
(May 2): Malaysia’s stock market and currency are set for a rebound from their slump following the elections almost a year ago, said Nazir Razak, former chairman of Malaysia’s second-largest bank. The country’s benchmark stock index slipped 11%, the most among Asia’s most actively-trade stock markets, while the ringgit currency lost 4.5%. The selloff came after Prime Minister Mahathir ...