1MDB: The case that has riveted Malaysia

The scandal surrounding Malaysia’s state development fund 1MDB has gripped the country for years. Now the US has said it is moving to seize more than $1bn (£761m) in assets, ranging from plush properties to a private jet, from people connected to the country’s Prime Minister Najib Razak. The asset seizure by the US would be the largest ever by the Justice Department’s anti-corruption unit. This is how the story has played out so far.

Continue reading “1MDB: The case that has riveted Malaysia”

U.S. lawsuits link Malaysian leader to stolen money from 1MDB fund

Malaysian Prime Minister Najib Razak said on Thursday judgment should be withheld until all the facts are known after the U.S. government filed lawsuits seeking to seize $1 billion in assets bought with money stolen from a state fund he oversaw. The U.S. Justice Department lawsuits filed in a federal court on Wednesday did not name Najib, instead referring to “Malaysian Official 1.” Some of the allegations against this official were the same as those in a Malaysian investigation into a $681 million transfer to the premier’s personal bank account.

Continue reading “U.S. lawsuits link Malaysian leader to stolen money from 1MDB fund”

Malaysia fiasco undercuts Goldman’s standards push

Malaysia’s sovereign fund scandal has exposed shortcomings in Goldman Sachs’ post-crisis overhaul of its business practices. Five years ago, the Wall Street firm led by Lloyd Blankfein went to great lengths to assure regulators, investors and clients that it was tightening up standards. But its dealings with the now disgraced 1Malaysia Development Berhad (1MDB) cast doubt on the depth of Goldman’s changes.

Continue reading “Malaysia fiasco undercuts Goldman’s standards push”

Lim Guan Eng: Ringgit falls due to 1MDB

Penang: Chief Minister Lim Guan Eng said that the recent fall of ringgit is due to 1MDB issues.  He stated that that he warned the Federal government not to play with the economy however it has fallen into deaf ears.  “It is a common knowledge that the Ringgit fall is due to 1MDB” he said. He also added that some people did not want to admit this fact and did not listen. “Even Tan Sri Muhyiddin Yassin is not able to stand with it and voiced it out” Guan Eng mentioned during a speech at Komtar event recently.

Continue reading “Lim Guan Eng: Ringgit falls due to 1MDB”

Najib: 1MDB debts to be reduced in 6 months

Pasir Gudang – According to Prime Minister Najib Razak, 1MDB debts will be reduced in phases to an acceptable level within 6 months period and the matter has been disclosed to UMNO members.  According to Najib Razak, the 1MDB loss has been sensationalize in Social medias and Internet although the company has not made any loss yet.

Continue reading “Najib: 1MDB debts to be reduced in 6 months”

Najib says he was cleared by MACC over corruptions

Kuala Lumpur – Malaysian Prime Minister Datuk Seri  Najib today says that MACC has cleared him on corruption charges over a $700 USD million or RM 2.6 billion that was transfered to his personal account over an UMNO division meeting at Bandar Tun Razak Today.

Continue reading “Najib says he was cleared by MACC over corruptions”

Najib: Clouded minds lead to suspicion of 1MDB

PUTRAJAYA – Certain individual or group in some places in Malaysia has created the negative perception on 1Malaysia Development Berhad (1MDB), and this had become the reason behind the public suspicions about the state investment arm said by Prime Minister of Malaysia, Datuk Seri Najib Tun Razak. The perception spread via the social media has made Datuk Seri Najib felt upset on the news.

Continue reading “Najib: Clouded minds lead to suspicion of 1MDB”

MACC: RM 2.6 billion in Najib account is from donation, not 1MDB

Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) today stated that investigation revealed that the money deposited directly into Najib’s account did not come from investment arm 1MDB.”Investigations have found the RM2.6 billion which was allegedly deposited into the prime minister’s accounts is the contribution of donors and not from 1MDB funds,” said the commission in a statement. The statement came after hints from BN leaders recently that the money may be from donation sources. The investigation on SRC International Sdn Bhd which involves the sum of RM 4 billion is still ongoing.

Continue reading “MACC: RM 2.6 billion in Najib account is from donation, not 1MDB”

Public Prosecutor’s office at MACC raided by Special Branch for 1MDB documents

Putrajaya, August 1- Special Branch police has raided MACC DPP Ahmad Sazilee Abdul Khairy’s office and confiscate documents and laptop computer related on 1MDB.  According to sources a team of police which consist of 12 men including officers and men raided Deputy Public Prosecutor’s office at Presint 3 at Putrajaya.  The Special Branch also readed Sazilee’s home at Presint 11 earlier.

Continue reading “Public Prosecutor’s office at MACC raided by Special Branch for 1MDB documents”

Muhyiddin Yassin: PM should tell the truth on 1MDB

Kuala Lumpur:  Deputy Prime Minister Muhyiddin Yassin has publicly announced that Prime Minister Najib Razak has to explain the 1MDB issues to the people on Sunday night. The issue was raised after the closing event of UMNO Cheras annual division meeting. Muhyiddin Yassin said that he chose to speak up  so that the government will not underestimate the people’s sentiments on 1MDB.

Continue reading “Muhyiddin Yassin: PM should tell the truth on 1MDB”