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.
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.
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.
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.
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.
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.
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.
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.
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.
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.