The 1MDB affair, Turning the screw – Economist

The 1MDB affair, Turning the screw AS IF being investigated by seven countries wasn’t enough, 1MDB is also flirting with default. Government gumshoes in Switzerland, America and elsewhere are said to be close to mapping the full money trail in a suspected multi-billion-dollar scam centred on the heavily indebted Malaysian state investment fund. As their…

No reason why auditor-general’s report still cloaked in secrecy

No reason why auditor-general’s report still cloaked in secrecy The classification of the auditor-general’s report on 1Malaysia Development Bhd (1MDB) under the Official Secrets Act 1972 (OSA) has raised suspicions something is not right with its findings. “This cloak of secrecy around the auditor-general’s report presents a new set of suspicions over the real workings…

1MDB’s payment to Aabar may have ended up in the movie business

Malaysia fund 1MDB’s payment to Abu Dhabi fund IPIC may have ended up in the movie business The trail of breadcrumbs from a troubled Malaysian state investment fund took another twist Tuesday when Swiss authorities said some of the money ended up in the movie business. On Monday, an Abu Dhabi sovereign wealth fund, International…

Documentary on ‘Wolf of Wall Street’ money trail

Oscar nominee making film on ‘Wolf of Wall Street’ money trail Oscar-nominated producer Mike Lerner is producing a documentary of the alleged corruption leading to the making of Hollywood hit ‘Wolf of Wall Street’, linked to the 1MDB scandal. This comes after Swiss investigators say they have “elements in hand” to show some of the…

The men who allegedly set up fake Aabar

The men who sold 1MDB on a fake Aabar 1MDB is in quite a pickle after the International Petroleum Investment Co (IPIC) and Aabar Investment PJS denied links to an Aabar company that 1MDB had been making payments to. The company, Aabar Investment PJS Ltd or Aabar BVI (British Virgin Islands), had received US$3.5 billion…

Shocking details of the ‘681 American pies’

Confidant of Malaysia Prime Minister Najib Had Central Role at Troubled 1MDB Fund Jho Low controlled hundreds of millions of dollars of money thanks to network of contacts, amassed riches himself In March 2013, a young Malaysian financier sent a heads-up to an employee at a Kuala Lumpur bank that “681 American pies” would soon…

Ex-1MDB CEO claimed Najib refused revaluation of assets despite concerns

Ex-1MDB CEO claimed Najib refused revaluation of assets despite concerns Former 1MDB chief executive officer Shahrol Azral Ibrahim Halmi claimed that Prime Minister Najib Abdul Razak had refused the revaluation of assets in 1MDB’s joint-venture with PetroSaudi International (PSI) despite concerns raised by the 1MDB board of directors. This is according to the Public Accounts…

Think of your future generations when you vote – An open letter to Sarawakians

An open letter to Sarawakians “Think of your future generations when you vote and not your Chief Minister Adenan.” Dear Sarawakians, Are you not Malaysians? Take a look at your identity card or passport and see if you are a foreigner or a Malaysian? Whether you like it or not or how you feel, you…

PetroSaudi’s US$1 billion ruse

PetroSaudi’s US$1 billion ruse Barely a month after the Finance Ministry took over Terengganu Investment Authority (TIA), a royal suitor came a-knocking. On Aug 8, 2009, Prince Turki of Saudi Arabia sent a letter to Prime Minister Najib Abdul Razak to introduce PetroSaudi International chief executive Tarek Obaid. Tarek proposed a joint venture with the…

Former BSI banker charged in S’pore following 1MDB probe

Former BSI banker charged in S’pore following 1MDB probe A former banker with the Singapore arm of Switzerland’s BSI Bank has been charged with money laundering following the city-state’s investigation into 1MDB. This was confirmed by Singapore’s Attorney-General’s Chambers, according to Singapore-based Today Online. The report said Yeo Jiawei, a former wealth planner at the…