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.
Tim Leissner was at one time the golden boy of Wall Street titans Goldman Sachs. After working his way from an associate to vice president at JP Morgan, the 45-year-old German jumped ship to Lehman Brothers, a decade before financial giant collapsed under the weight of its worthless asset-backed securities in 2009.
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.
PETALING JAYA: The 1Malaysia Development Board (1MDB) has issued a statement denied falsifying financial statements that was submitted to banks. In the statement 1MDB also regretted the allegations by Opposition Lawmaker Tony Pua quoting that the action could cause a default. 1MDB has questioned on how Pua could allege the audited account was tampered since it’s company internal dealing. 1MDB also noted that the confidentiality of financial agreements cited by Tony Pua were protected by law.