Category: Najib Razak

Malaysia ‘won’t protect citizens’ from offshore offences

The Malaysian government won’t protect its citizens from legal action taken outside the country stemming from the scandal surrounding the state investment fund 1 Malaysia Development Berhad, a senior official said this week. Johari Abdul Ghani, who is second in command in the Finance Ministry under Prime Minister Najib Razak,… – Continue reading

Luxembourg money laundering inquiry into Malaysian state fund

Luxembourg’s state prosecutor has launched a judicial inquiry into allegations of money laundering involving hundreds of millions of dollars against Malaysia’s sovereign wealth fund 1Malaysia Development Bhd (1MDB). The prosecutor said on Thursday that the inquiry followed evidence that funds held by the Malaysian government in offshore accounts in Singapore,… – Continue reading

Australia shuts down investment schemes run by fund linked to 1MDB

The Australian Federal Court has ordered five investment schemes managed by Avestra Asset Management to shut down, The Australian reported today, following the fund’s link to the 1Malaysia Development Berhad (1MDB) controversy. It was reported that the judge made the decision after going through a report from liquidators, who unearthed… – Continue reading

ZETI HATCHET JOB SPLASHED ONLINE: Jho Low accused of ‘PROXY WAR’ to defend ROSMAH & himself

KUALA LUMPUR – As speculation intensifies that Malaysian Prime Minister Najib Razak is on the verge of sacking central bank governor Zeti Aziz, an expose on her family’s ‘dealings’ has been splashed online. Critics of the Prime Minister claim the article was sponsored by 1MDB figure Jho Low and his… – Continue reading

Singapore’s unlawful money fight faces compliance challenges

Singapore’s fight to stem illicit fund inflows has shoved private bankers into a new quandary – finding enough qualified compliance specialists to ensure the money passing through their accounts is clean. Like other wealth management centres around the world, Singapore is forcing banks to make more stringent checks on their… – Continue reading

Dr M accuses Najib of lying when he said S’pore bank had 1MDB cash

PETALING JAYA, Malaysia – Former premier Tun Dr Mahathir Mohamad has accused Prime Minister Datuk Seri Najib Tun Razak of lying when he told Parliament that money held by government investment arm 1Malaysia Development Berhad (1MDB) is being kept in Singapore. “No money was banked into BSI Bank in Singapore…. – Continue reading