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Malaysia 1MDB scandal

Malaysia 1MDB scandal
1Malaysia Development Bhd (1MDB) is a state investment fund that came under investigation for alleged impropriety in July 2015, after reports emerged that investigators traced some US$700 million wired into Prime Minister Najib’s bank accounts. Both the fund and the premier denied wrongdoing, but the attorney general launched an investigation into alleged graft. 1MDB was 42 billion ringgit (HK$86 billion) in debt at the time of the scandal.
Malaysia’s former prime minister Najib Razak attends the verdict of his house arrest bid at Kuala Lumpur Courts Complex in Malaysia on Monday. Photo: Reuters
Malaysia

With 1MDB verdict due, will Malaysia’s Najib have to ‘prepare for the worst’?

The High Court will rule on abuse of power and money laundering charges, with Najib facing the prospect of lengthy prison terms if found guilty.

Malaysia

Najib’s children lament Malaysian court ruling – ‘we thought he was coming home’

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Malaysia

Why Malaysian court ruling against Najib is dividing Anwar’s coalition

Malaysia

Malaysian court blocks Najib’s bid for house arrest

Monday’s decision keeps the former prime minister behind bars as he awaits the outcome of the far larger 1MDB case on Friday.

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Former Malaysian prime minister Najib Razak is escorted by prison officers on his arrival at the Kuala Lumpur High Court Complex on Monday. Photo: AP
Malaysia

Malaysia to get back US$30 million worth of fine art linked to 1MDB scandal

The 12 artworks, including pieces by Picasso and Matisse, were bought by a former lawyer for the state investment fund.

Malaysia

Najib’s wife cleared as Malaysia drops money laundering, tax evasion appeal

The prosecution said it could not definitively prove that Rosmah Mansor committed the offences.

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Jho Low

Fugitive Jho Low’s sister and associate ordered to pay US$2.8 billion to 1MDB

The judge noted that May Lin and associate Eric Tan failed to appear in court, resulting in a massive default judgment in the ongoing 1MDB suit.

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Jho Low, CEO of Jynwel Capitial Limited, is interviewed at his office in Hong Kong in 2015. Photo: SCMP
Singapore

Standard Chartered faces US$2.7 billion 1MDB suit in Singapore

The lawsuit alleges Standard Chartered enabled acts of fraud leading to US$2.7 billion in losses over a decade. The bank plans to appeal.

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Malaysia

Najib, son face bankruptcy after Malaysian court’s tax ruling

Malaysia’s revenue board initiated the proceedings after the former prime minister and his son failed to settle their tax arrears.

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Singapore

Singapore court rejects 1MDB-linked suit against Standard Chartered, BSI

The judge dismissed the liquidators’ suit as the alleged transactions happened before Singapore’s cross-border insolvency law took effect.

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The Standard Chartered logo is seen on its office tower in Singapore’s Marina Bay Financial Centre. Photo: Harvey Kong
Malaysia

From Malaysia to Bangladesh, Asia’s dirty money finds a home in UK property

Investigators from Kuala Lumpur to Dhaka are once again focusing on Britain’s role as a global laundromat for kleptocrats.

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The City of London financial district in London, Britain. Photo: EPA
JPMorgan Chase

JPMorgan settles 1MDB scandal claims with Malaysia for US$330 million

The settlement resolves Malaysia’s civil lawsuit, while Swiss prosecutors found the bank negligent in preventing aggravated money laundering.

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Malaysia

How Malaysia’s bid to prevent a ‘corrupt-minded society’ is taking a comic turn

Anti-corruption chief Azam Baki turns to comics, films and live-streams to stop Malaysia from becoming a ‘corrupt-minded society’.

Malaysia

Malaysia’s Najib gets legal lifeline in house arrest bid over 1MDB sentence

The ruling has revived the ex-PM’s controversial claim that an ‘addendum’ from the former king would let him serve his sentence at home.

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A supporter of Najib Razak wears a T-shirt displaying the former prime minister’s face outside the Federal Court in Putrajaya, Malaysia, on Wednesday. Photo: EPA
Malaysia

Malaysia says no evidence of Jho Low living in China with fake passport

Malaysia’s home minister says the government is working with international authorities to catch the 1MDB fugitive.

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Fugitive Malaysian financier Jho Low. Photo: SCMP
Malaysia

Is 1MDB fugitive Jho Low in China? Malaysian PM vows to investigate new claims

Malaysia’s PM said he would look into fresh claims that 1MDB fugitive Jho Low is living in Shanghai and using a forged Australian passport.

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Malaysia

Malaysia PM’s ex-son-in-law declared bankrupt over US$1.25million ‘friendly loan’

Fashion designer Jovian Mandagie, once married to Ismail Sabri Yaakob’s daughter, was declared bankrupt, adding to scandals surrounding the former leader’s family.

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Singapore

Standard Chartered in Singapore faces US$2.7 billion lawsuit linked to 1MDB

Malaysian liquidators are suing Standard Chartered in Singapore, claiming the bank ignored red flags and suspicious transfers, a claim the bank strongly denies.

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The Standard Chartered logo on tower one of the Marina Bay Financial Centre in Singapore. Photo: Harvey Kong
Malaysia

Malaysia’s Najib discharged over US$6.3 million money laundering case

The ruling comes after the former prime minister was also given a legal reprieve last year in a separate 1MDB-related embezzlement case.

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Malaysia

US$900 million seized as China helps Malaysia dismantle Tedy Teow’s scam empire

MBI Group’s Malaysian founder has been called ‘Jho Lo 2’ because of the sheer scale of his operation.

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Goldman Sachs

Ex-Goldman banker Leissner gets 2 years in 1MDB fraud case

The German citizen had hoped to avoid prison for helping to loot the Malaysian investment fund by cooperating with prosecutors.

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Former Goldman Sachs chief of Southeast Asia operations Timothy Leissner arrives at court in New York for sentencing on Thursday. Photo: AFP
Malaysia

Malaysia’s Anwar defends extending ‘brave’ anti-corruption chief’s term

Azam Baki’s team was the first one to dare investigate all the influential bigwigs and politicians, Anwar says.

Malaysian Prime Minister Anwar Ibrahim at a media briefing on Wednesday ahead of a series of Asean summits. Photo: AP
Malaysia

Malaysia’s anti-graft agency seeks powers to claw back billions in illicit funds

The MACC is seeking new powers to negotiate the return of large sums of money without first having to press charges.

Malaysia

Chasing Jho Low: blockchain bounty breathes new life into hunt for 1MDB fugitive

Can a memecoin help uncover Jho Low’s whereabouts? New evidence is surfacing about the scandal, thanks to a crypto reward system.

Malaysia

Smart play or ticking time bomb? Malaysia’s DAP sidelines strongman Lim Guan Eng

Lim is known for being very vocal against corruption in Malay-majority Umno, with which his party is now trying to build ties.

DAP members (from left) Gobind Singh Deo, Lim Guan Eng and Anthony Loke. Photo: Facebook/ Lim Guan Eng
Malaysia

Explainer | Why is Malaysia’s 1MDB scandal still casting a long shadow over its economy?

About 70 per cent of the US$10 billion funds pilfered from the sovereign wealth fund have been recovered, Malaysia’s MACC says.

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Former Malaysian Prime Minister Najib Razak gestures as he leaves the Malaysian Anti-Corruption Commission (MACC) office in Putrajaya in 2018. Photo: AP
Malaysia

Former Malaysian PM Ismail Sabri shows up to give statement in corruption case

He had twice delayed reporting to Putrajaya authorities, citing health issues.

Malaysia

My Take | Here we go again: Ismail Sabri is third Malaysian ex-PM on corruption carousel

Prime Minister Anwar Ibrahim still has to make good 2018 election promise to push for clean political funding.

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