Low Taek Jho

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.

How the 'Big Flip' of 1MDB bonds happened in 2009

SINGAPORE (Feb 1): A Bloomberg newsbreak on how Low Taek Jho, or Jho Low, made millions from a 2009 bond sale has put the spotlight on the first debt issued by 1Malaysia Development Bhd (1MDB), when it was known as the Terengganu Investment Authority (TIA).

The 30-year Islamic bonds, which pay a coupon rate of 5.75%, were sold at a steep discount by AmInvestment on a bought deal and not through a tender, raising a hue and cry among bankers at the time.

Investigators are now looking into it and have discovered the following:

I want to clear my name: Najib

LANGKAWI (June 21): Former Malaysian prime minister Najib Razak says he shouldn’t be blamed for the multi-billion-dollar 1MDB scandal, and declares he knows nothing about money from the state fund appearing in his personal account.

He does, though, have explanations for the vast sums of cash, luxury handbags and jewelry recently seized from his homes by the Malaysian authorities.

Singapore police examining role of Goldman Sachs in 1MDB deals

SINGAPORE (Nov 3): Singaporean prosecutors and the police are examining Goldman Sachs Group Inc.’s relationship with the Malaysian state investment fund at the centre of global money laundering probes, people with knowledge of the matter said.

The Commercial Affairs Department, the police’s economic crime unit, and city prosecutors have interviewed current and former Goldman Sachs executives who worked on bond offerings from 1Malaysia Development Berhad (1MDB), said the people, who asked not to be named because the queries are confidential.

US authorities probe 1MDB, Jho Low links to US$2.2 bil deal: WSJ

SINGAPORE (June 13): Malaysian businessman Low Taek Jho is alleged to have pocketed US$300 million ($415 million) in less than a week after funds illegally siphoned from 1Malaysia Development Bhd (1MDB) were used to finance the US$2.2 billion purchase of a US energy company.

Why the 1MDB saga could be far from over for Singapore

SINGAPORE (June 2): This past week, the Monetary Authority of Singapore (MAS) imposed penalties on two more banks and said it had completed an extensive, two-year-long probed into the 1Malaysia Development Bhd (1MDB).

Former remisier Kelvin Ang fined $9,000 in fifth 1MDB-related conviction

SINGAPORE (May 24): Kelvin Ang Wee Keng, a former remisier with Maybank Kim Eng, has become the fifth person convicted in Singapore for roles related to fund transfers linked to 1Malaysia Development Berhad (1MDB).

Ang, 35, pleaded guilty in court this afternoon for bribing research analyst Jacky Lee Chee Waiy with $3,000 to speed up the preparation of a valuation report needed to support the acquisition of PetroSaudi Oil Services Limited (PSOSL).

Ex-remisier Kelvin Ang fifth to be convicted in 1MDB-related probe

SINGAPORE (May 24): Kelvin Ang Wee Keng, a former remisier with Maybank Kim Eng, on Wednesday became the fifth person convicted in Singapore in connection to an ongoing probe involving 1Malaysia Development Berhad (1MDB).

The 35-year-old Singaporean was fined $9,000 by District Judge Lim Keng Yeow. Prosecution had called for Ang to be slapped with a fine of $10,000.

Ang pleaded guilty to bribing a research analyst with $3,000 to speed up the preparation of a valuation report needed to support the acquisition of PetroSaudi Oil Services.

'Wolf of Wall Street' producer in talks to settle 1MDB suit

LOS ANGELES (May 18): The producer of “The Wolf of Wall Street” is in talks with the US Justice Department to settle a lawsuit alleging the movie was funded by money siphoned from a Malaysian state investment fund.

Lawyers for Red Granite Pictures Inc., which was co-founded by Riza Aziz, a stepson of Malaysian Prime Minister Najib Razak, and the US on Tuesday asked a federal judge in Los Angeles to extend a deadline in the lawsuit so that they can “focus on their ongoing negotiations.”

US prepares to file criminal charges against alleged 1MDB mastermind Jho Low: report

Low Taek Jho (Jho Low)

SINGAPORE (March 22): The noose is tightening around Malaysian businessman Low Taek Jho – the alleged mastermind behind the multibillion-dollar scandal over state fund 1Malaysia Development Berhad (1MDB).

US authorities are preparing to file criminal charges of wire fraud and money laundering against the flamboyant financier, according to a report by the Wall Street Journal, citing people familiar with the matter.

However, no potential timing for the filing of the criminal charges has been revealed.

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