https://www.scmp.com/rss/503126/feed The US Department of Justice alleges US$4.5 billion was siphoned from the 1Malaysia Development Berhad (1MDB) state investment fund between 2009 and 2014, and Malaysian financier Jho Low has been accused of masterminding the fraud. He is wanted in several countries despite denying all wrongdoing. The Malaysian government has sought his return to Malaysia to face charges but his whereabouts are unknown, although he has been widely speculated to be in China. Funds from 1MDB were allegedly used to... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia’s anti-corruption investigation into a flagship chip-design deal with Britain’s Arm Holdings took a more combustible turn on Thursday after a former government aide declared: “I am not Jho Low 2.0.” The remark – invoking the fugitive financier at the centre of Malaysia’s 1MDB scandal – came as the country’s anti-corruption agency pushed back against his claims, while allies of Prime Minister Anwar Ibrahim warned the investigation risked appearing heavy-handed. The dispute has dragged... https://www.scmp.com/week-asia/people/article/3345514/malaysias-arm-chip-deal-probe-turns-political-ex-aide-says-i-am-not-jho-low-20?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3345514/malaysias-arm-chip-deal-probe-turns-political-ex-aide-says-i-am-not-jho-low-20?utm_source=rss_feed Thu, 05 Mar 2026 04:34:15 +0000 Bloomberg Bloomberg Tim Leissner, the former Goldman Sachs banker who admitted his role in one of the largest financial frauds in history, is seeking a presidential pardon before he surrenders to a federal prison in the US. Leissner filed his pardon application to the US Justice Department last year, according to a notice on the DOJ website. It was submitted between September 3 and November 18, according to archived copies posted on lawyeroyer.com. Leissner, Goldman’s former Southeast Asia chairman, pleaded guilty... https://www.scmp.com/news/asia/southeast-asia/article/3340921/1mdb-convict-and-ex-goldman-banker-tim-leissner-seeks-pardon-trump?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3340921/1mdb-convict-and-ex-goldman-banker-tim-leissner-seeks-pardon-trump?utm_source=rss_feed Fri, 23 Jan 2026 02:04:22 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof A Malaysian court on Friday sentenced jailed former prime minister Najib Razak to a further 15 years in prison after convicting him on all 25 charges linked to the plundering of billions of dollars from the scandal-tainted state fund 1Malaysia Development Berhad (1MDB). The High Court found Najib, 72, guilty of four counts of abuse of power and 21 counts of money laundering, after taking account of his “direct role” in the siphoning of 2.3 billion ringgit (US$568 million) from the troubled... https://www.scmp.com/week-asia/politics/article/3337795/malaysias-najib-found-guilty-abuse-power-charge-final-1mdb-case?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3337795/malaysias-najib-found-guilty-abuse-power-charge-final-1mdb-case?utm_source=rss_feed Fri, 26 Dec 2025 07:38:36 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia’s High Court is poised on Friday to deliver its verdict in the final criminal trial of jailed former prime minister Najib Razak, bringing to a close one of Southeast Asia’s most far-reaching corruption sagas. The case centres on allegations that the disgraced 72-year-old misappropriated 2.3 billion ringgit (US$490 million) from the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). Najib is currently in Kajang Prison, over halfway through a sentence... https://www.scmp.com/week-asia/people/article/3337730/1mdb-verdict-due-will-malaysias-najib-have-prepare-worst?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3337730/1mdb-verdict-due-will-malaysias-najib-have-prepare-worst?utm_source=rss_feed Thu, 25 Dec 2025 11:12:09 +0000 Bloomberg Bloomberg Malaysia is set to receive 12 pieces of fine art – including works by Pablo Picasso, Joan Miro and Henri Matisse – after discussions with US officials to repatriate assets tied to the global corruption scandal at 1MDB. The works are being held by Christie’s and Sotheby’s auction houses in the United States and estimated to have a combined value of over US$30 million, the Malaysian Anti-Corruption Commission (MACC) said in a statement on Saturday. They were purchased by Jasmine Loo, a former... https://www.scmp.com/news/asia/southeast-asia/article/3336454/malaysia-get-back-us30-million-worth-fine-art-linked-1mdb-scandal?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3336454/malaysia-get-back-us30-million-worth-fine-art-linked-1mdb-scandal?utm_source=rss_feed Mon, 15 Dec 2025 06:33:51 +0000 The Star The Star The sister of fugitive Malaysian financier Low Taek Jho, whose whereabouts are still unknown, and a close associate were ordered by the Kuala Lumpur High Court to pay 11.58 billion ringgit (US$2.8 billion) to 1Malaysia Development Bhd (1MDB), over “tainted proceeds” misappropriated from the state fund. Justice Mahazan Mat Taib granted the judgment in default (JID) against Low May Lin, the sister of Low – better known as Jho Low – and Eric Tan, after the court found that 1MDB had decisively... https://www.scmp.com/news/asia/southeast-asia/article/3334087/malaysia-court-orders-jho-lows-sister-and-associate-pay-us28-billion-1mdb?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3334087/malaysia-court-orders-jho-lows-sister-and-associate-pay-us28-billion-1mdb?utm_source=rss_feed Tue, 25 Nov 2025 09:29:24 +0000 Associated Press Associated Press Grammy-winning rapper Prakazrel “Pras” Michel of the Fugees was sentenced on Thursday to 14 years in prison for a case in which he was convicted of illegally funnelling millions of dollars in foreign contributions to former US president Barack Obama’s 2012 re-election campaign. Michel, 52, declined to address the court before US District Judge Colleen Kollar-Kotelly sentenced him. In April 2023, a federal jury convicted Michel of 10 counts, including conspiracy and acting as an unregistered... https://www.scmp.com/news/world/united-states-canada/article/3333611/fugees-pras-michel-jailed-14-years-over-illegal-donations-obamas-2012-campaign?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3333611/fugees-pras-michel-jailed-14-years-over-illegal-donations-obamas-2012-campaign?utm_source=rss_feed Thu, 20 Nov 2025 23:45:02 +0000 Reuters Reuters Singapore’s High Court has dismissed a bid by foreign liquidators to sue Standard Chartered Bank and BSI Bank in the city state over transactions alleged to be linked to the scandal-hit Malaysian sovereign wealth fund 1MDB, according to a judgment on Wednesday. Representatives of the liquidators did not immediately respond to a request for comment. Standard Chartered said the bank welcomed the court’s decision. Liquidators began legal proceedings against the London-headquartered bank in... https://www.scmp.com/news/asia/southeast-asia/article/3327481/singapore-court-rejects-us27-billion-1mdb-linked-suit-against-standard-chartered-bsi?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3327481/singapore-court-rejects-us27-billion-1mdb-linked-suit-against-standard-chartered-bsi?utm_source=rss_feed Wed, 01 Oct 2025 05:54:11 +0000 The Star The Star There is no “credible proof” supporting a report that fugitive financier Low Taek Jho, also known as Jho Low, is in China or using an Australian passport, according to Malaysia’s Home Minister Saifuddin Nasution Ismail. He stated that the report about Low’s location and the passport he allegedly used was not backed by credible evidence or facts. “The home ministry, through the police, is cooperating closely and continuously with our foreign counterparts and international authorities to track... https://www.scmp.com/news/asia/southeast-asia/article/3319394/malaysia-says-no-credible-proof-jho-low-living-china-fake-passport?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3319394/malaysia-says-no-credible-proof-jho-low-living-china-fake-passport?utm_source=rss_feed Thu, 24 Jul 2025 06:46:06 +0000 The Star The Star Prime Minister Anwar Ibrahim said on Saturday that Malaysia had not received any information regarding allegations that fugitive businessman Low Taek Jho, commonly referred to as Jho Low, was living in China. Anwar mentioned that he was planning to investigate the situation involving the central figure of the 1Malaysia Development Berhad (1MDB) financial scandal in collaboration with Home Minister Saifuddin Nasution Ismail. “I have no information; we have yet to receive anything. Let me check.... https://www.scmp.com/news/asia/southeast-asia/article/3318867/malaysia-pm-anwar-verify-reports-1mdb-mastermind-jho-low-china?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3318867/malaysia-pm-anwar-verify-reports-1mdb-mastermind-jho-low-china?utm_source=rss_feed Sat, 19 Jul 2025 13:03:11 +0000 Reuters Reuters Liquidators for Malaysia’s sovereign wealth fund 1MDB have sued Standard Chartered Bank in Singapore, alleging it enabled fraud that led to more than US$2.7 billion in financial losses more than 10 years ago. Standard Chartered, the UK-headquartered bank in Singapore, on Tuesday said that it emphatically rejected the claims. The move is the latest in a wide-ranging effort to recover money belonging to 1Malaysia Development Berhad (1MDB), from which US investigators say about US$4.5 billion was... https://www.scmp.com/news/asia/southeast-asia/article/3316517/malaysian-liquidators-sue-standard-chartered-singapore-alleging-its-role-1mdb-fraud?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3316517/malaysian-liquidators-sue-standard-chartered-singapore-alleging-its-role-1mdb-fraud?utm_source=rss_feed Tue, 01 Jul 2025 09:41:10 +0000 Hadi Azmi,Joseph Sipalan Hadi Azmi,Joseph Sipalan Chinese and Malaysian police have seized over 3.8 billion ringgit (US$900 million) of assets – including yachts and property – from a syndicate alleged to have duped millions of people throughout the Asia-Pacific with promises of high-return investments. The Ponzi scheme, which operated mainly in Penang state, is believed to be linked to the MBI Group, started by Malaysian Tedy Teow Wooi Huat, who was extradited to China last year after hiding in Thailand. Seventeen people were arrested last... https://www.scmp.com/week-asia/people/article/3314016/us900-million-seized-china-helps-malaysia-dismantle-tedy-teows-scam-empire?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3314016/us900-million-seized-china-helps-malaysia-dismantle-tedy-teows-scam-empire?utm_source=rss_feed Wed, 11 Jun 2025 09:28:07 +0000 Bloomberg Bloomberg Former Goldman Sachs banker Tim Leissner, who pleaded guilty to helping loot the Malaysian investment fund 1MDB, was sentenced to two years in prison over his role in the massive fraud. US District Judge Margo Brodie in Brooklyn, New York, sentenced him at a hearing Thursday. Leissner had asked not to go to prison, arguing that his cooperation had resulted in the conviction of a former colleague and billions of dollars in global fines against Goldman. Leissner, 53, had faced as long as 25 years... https://www.scmp.com/news/asia/southeast-asia/article/3312360/ex-goldman-banker-tim-leissner-gets-2-years-1mdb-fraud-case?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3312360/ex-goldman-banker-tim-leissner-gets-2-years-1mdb-fraud-case?utm_source=rss_feed Thu, 29 May 2025 18:01:53 +0000 Hadi Azmi Hadi Azmi Jho Low, the flamboyant financier behind one of the world’s largest financial scandals, vanished years ago, leaving behind a trail of opulence, deceit and unanswered questions. But two journalists are determined to bring his shadowy story back into the light – with a satirical website, a memecoin and some blockchain bounties. Low, accused of orchestrating Malaysia’s multibillion-dollar 1MDB scandal, once partied with Hollywood elites and brokered billion-dollar deals, but has since become a... https://www.scmp.com/week-asia/people/article/3304351/chasing-jho-low-blockchain-bounty-breathes-new-life-hunt-malaysias-1mdb-fugitive?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3304351/chasing-jho-low-blockchain-bounty-breathes-new-life-hunt-malaysias-1mdb-fugitive?utm_source=rss_feed Sun, 30 Mar 2025 02:00:19 +0000 Seventy per cent of the US$10 billion stolen from Malaysia in the 1MDB corruption scandal has been recovered by Malaysia, the country’s anti-corruption agency announced on Monday, following the return of US$3.2 million in assets from associates of Jho Low, the scheme’s larger-than-life alleged mastermind. Nearly seven years after the scandal unravelled with Low’s co-conspirator and former Prime Minister Najib Razak losing in the 2018 election, Malaysia is still seeking to recover its stolen... https://www.scmp.com/week-asia/economics/article/3302822/why-malaysias-1mdb-scandal-still-casting-long-shadow-over-its-economy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3302822/why-malaysias-1mdb-scandal-still-casting-long-shadow-over-its-economy?utm_source=rss_feed Tue, 18 Mar 2025 07:44:33 +0000 A painting by Mark Rothko that once belonged to fugitive Malaysian financier Low Taek Jho (commonly known as Jho Low) and which went viral in 2022 because of its resemblance to the Ukrainian flag was sold in Hong Kong on November 11 for HK$252.5 million (US$32.5 million), 30 per cent lower than its previous auction price in 2015. The painting Untitled (Yellow and Blue), completed in 1954, was a major highlight of the first modern and contemporary art evening sale to be held at Sotheby’s Maison,... https://www.scmp.com/lifestyle/arts-culture/article/3286115/mark-rothko-painting-sells-30-less-2015-showing-hong-kong-market-challenges?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3286115/mark-rothko-painting-sells-30-less-2015-showing-hong-kong-market-challenges?utm_source=rss_feed Mon, 11 Nov 2024 14:28:21 +0000 A Malaysian court on Wednesday delivered a fresh blow to efforts by former leader Najib Razak to end a five-year trial over the 1Malaysia Development Berhad (1MDB) scandal, ordering him to enter a defence over allegations that he took more than US$500 million in bribes linked to the state fund. The ruling came a week after Najib “unreservedly” apologised for the 1MDB debacle which cost Malaysian taxpayers billions of dollars, yet repeated denials of any knowledge of the rot at the core of a fund... https://www.scmp.com/week-asia/politics/article/3284466/week-after-apology-malaysian-ex-pm-najib-fails-end-5-year-trial-over-1mdb-scandal?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3284466/week-after-apology-malaysian-ex-pm-najib-fails-end-5-year-trial-over-1mdb-scandal?utm_source=rss_feed Wed, 30 Oct 2024 08:35:11 +0000 A public apology by disgraced former prime minister Najib Razak for the ruinous 1MDB scandal has been met with scorn by Malaysians, as speculation mounts over a possible attempt to secure his early release from jail. Through his lawyers, Najib on Thursday issued an apology for the 1Malaysia Development Berhad (1MDB) scandal, saying it pained him “every day” that the plunder of billions of dollars of taxpayers’ cash happened under his watch. The jailed former leader “unreservedly” apologised for... https://www.scmp.com/week-asia/politics/article/3283846/malaysians-left-incredulous-apology-disgraced-ex-pm-najib?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3283846/malaysians-left-incredulous-apology-disgraced-ex-pm-najib?utm_source=rss_feed Fri, 25 Oct 2024 09:00:12 +0000 Jailed former prime minister Najib Razak issued a public apology on Thursday for the 1MDB scandal, without fully admitting fault, sparking renewed controversy as the government considers sentencing reforms that may enable his early release. In a rare statement from prison, Najib said it pains him “every day” to know that the “1MDB debacle” occurred under his watch as prime minister and finance minister. “For that, I would like to apologise unreservedly to the Malaysian people,” he said. Najib... https://www.scmp.com/week-asia/politics/article/3283731/najib-issues-public-apology-without-accepting-full-blame-malaysias-imdb-scandal?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3283731/najib-issues-public-apology-without-accepting-full-blame-malaysias-imdb-scandal?utm_source=rss_feed Thu, 24 Oct 2024 12:19:31 +0000 A Mark Rothko painting once owned by Malaysian fugitive financier Low Taek Jho will be auctioned in Hong Kong in November, in what is billed as the artist’s first major work to go under the hammer in Asia. Auction house Sotheby’s said over the weekend that the piece by the late American abstract painter would be featured in its modern and contemporary art auction on November 8 at its venue in Central. Rothko was one of the most important US post-war painters and his works have fetched some of... https://www.scmp.com/news/hong-kong/society/article/3279953/hong-kong-host-auction-us465-million-mark-rothko-piece-once-owned-jho-low?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3279953/hong-kong-host-auction-us465-million-mark-rothko-piece-once-owned-jho-low?utm_source=rss_feed Wed, 25 Sep 2024 13:01:17 +0000 Malaysia’s High Court was told that a staggering US$2.4milllion had gone out of the coffers of 1Malaysia Development (1MDB) and into the bank accounts of celebrity Kim Kardashian and musician Pharell Williams, via fugitive businessman Low Taek Jho’s shell company Good Star Ltd. Financial fraud investigator Richard Templeman testified this during a Zoom hearing in the US$6.59 billion lawsuit filed by 1MDB against former Treasury secretary general Mohd Irwan Serigar Abdullah and former 1MDB CEO... https://www.scmp.com/news/asia/southeast-asia/article/3277778/malaysia-1mdb-scandal-millions-funnelled-kim-kardashian-pharrell-williams-jho-low?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3277778/malaysia-1mdb-scandal-millions-funnelled-kim-kardashian-pharrell-williams-jho-low?utm_source=rss_feed Mon, 09 Sep 2024 08:35:17 +0000 A pair of Geneva businessmen were found guilty of fraud by a Swiss court for their roles in a US$1.8 billion scam to defraud Malaysia’s 1MDB economic development fund. Tarek Obaid was sentenced to seven years in prison and his colleague Patrick Mahony six years, after they were also convicted on charges of criminal mismanagement and aggravated money laundering, a spokeswoman for the Switzerland’s Federal Criminal Court said. The multi-year prison sentences were justified, the court said in a... https://www.scmp.com/news/asia/southeast-asia/article/3276797/swiss-court-jails-1mdb-fraudsters-over-us18-billion-theft-malaysia-state-fund?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3276797/swiss-court-jails-1mdb-fraudsters-over-us18-billion-theft-malaysia-state-fund?utm_source=rss_feed Mon, 02 Sep 2024 02:05:48 +0000 Slick conferences, new offices and tales of riches spun from smart investments were enough to persuade Randy Ang to move a five-figure sum from his savings into a high return financial product hawked by MBI Group International – the vehicle of prolific Malaysian con man Tedy Teow. Ang, now 35, from Kuala Lumpur, handed over the sum – which he did not want to specify to This Week in Asia – to an investment agent representing MBI in 2016. It was only their second meeting. At the time, he had no... https://www.scmp.com/week-asia/people/article/3276381/how-tedy-teow-malaysian-fraudster-dubbed-jho-low-2-allegedly-swindled-millions?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3276381/how-tedy-teow-malaysian-fraudster-dubbed-jho-low-2-allegedly-swindled-millions?utm_source=rss_feed Thu, 29 Aug 2024 07:18:48 +0000 The Swiss Federal Criminal Court convicted on Wednesday two executives at an oil exploration company for embezzling more than US$1.8 billion from Malaysia’s state investment fund 1MDB. Swiss-British national Patrick Mahony and Swiss-Saudi Tarek Obaid were also ordered to pay back more than US$1.75 billion to the fund, which was at the centre of an international kleptocracy scandal. The difference between the two amounts was interest payments the fraudsters paid back to 1MDB during the scam. The... https://www.scmp.com/news/asia/southeast-asia/article/3276296/malaysia-1mdb-scandal-swiss-court-sentences-2-executives-combined-13-years-role-fraud?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3276296/malaysia-1mdb-scandal-swiss-court-sentences-2-executives-combined-13-years-role-fraud?utm_source=rss_feed Wed, 28 Aug 2024 12:46:23 +0000 Low Taek Jho, the alleged mastermind of the looting of Malaysia’s 1MDB fund, was ordered to forfeit a trio of “flawless” diamonds he bought for his mother that were from the jeweller who has designed for celebrities like Beyoncé and Adele. A federal judge in Los Angeles on Monday ordered the fugitive Malaysian financier, known as Jho Low, to surrender claims to a 7.35 carat diamond ring as well as matching diamond earrings both greater than 3 carats. The judge ruled they were bought in the... https://www.scmp.com/news/asia/southeast-asia/article/3271484/judge-orders-jho-low-surrender-mothers-us18-million-worth-diamonds?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3271484/judge-orders-jho-low-surrender-mothers-us18-million-worth-diamonds?utm_source=rss_feed Tue, 23 Jul 2024 00:30:55 +0000 Singapore authorities said they are still pursuing Malaysian fugitive Low Taek Jho in connection with a multibillion-dollar scandal related to 1Malaysia Development Bhd. A deal with the US Justice Department in June to settle civil actions against Low and his family “has no bearing” on Singapore’s criminal probe, the city state’s police force said in an emailed statement on Tuesday. An Interpol Red Notice seeking the location and provisional arrest of the financier, better known as Jho Low,... https://www.scmp.com/news/asia/southeast-asia/article/3270760/1mdb-scandal-singapore-refuses-give-pursuit-jho-low-unfazed-us-deal?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3270760/1mdb-scandal-singapore-refuses-give-pursuit-jho-low-unfazed-us-deal?utm_source=rss_feed Wed, 17 Jul 2024 06:11:13 +0000 The United States Department of Justice (DOJ) has entered into a confidential agreement with fugitive financier Jho Low in a bid to reach a global settlement – and possibly a final chapter – to the years-long asset forfeiture campaign tied to the corruption scandal at 1Malaysia Development Bhd (1MDB). The global settlement agreement would “forever [resolve] United States’ civil, criminal and administrative asset forfeiture actions or proceeding relating to the disposition” of assets tied to... https://www.scmp.com/news/asia/southeast-asia/article/3268455/malaysia-1mdb-scandal-jho-low-us-reach-secret-deal-try-forever-resolve-forfeiture-case?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3268455/malaysia-1mdb-scandal-jho-low-us-reach-secret-deal-try-forever-resolve-forfeiture-case?utm_source=rss_feed Fri, 28 Jun 2024 08:20:06 +0000 Jho Low, the fugitive Malaysian financier, will forfeit more than US$100 million including a luxury Paris flat and works by Claude Monet and Andy Warhol to settle civil forfeiture cases over his role in the 1MDB bribery and embezzlement scandal. The US Department of Justice announced the forfeiture on Wednesday, after US District Judge Dale Fischer in Los Angeles approved a consent agreement with Low and his family on Monday. The forfeited assets are in addition to nearly US$1 billion, including... https://www.scmp.com/news/asia/southeast-asia/article/3268178/malaysia-1mdb-scandal-jho-low-forfeit-warhol-monet-art-us100-million-settlement-us?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3268178/malaysia-1mdb-scandal-jho-low-forfeit-warhol-monet-art-us100-million-settlement-us?utm_source=rss_feed Wed, 26 Jun 2024 16:31:21 +0000 The US government has returned US$156 million to Malaysia recovered from assets seized in investigations into scandal-riddled state fund 1Malaysia Development Berhad (1MDB), as officials in both nations continue to unravel a global conspiracy that bilked billions of dollars from the Malaysian public. Malaysian and US investigators have estimated that at least US$4.5 billion was moved to a web of overseas accounts through 1MDB since it was founded in 2009 by disgraced former prime minister Najib... https://www.scmp.com/week-asia/politics/article/3266566/us-returns-us156-million-looted-1mdb-funds-malaysia?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3266566/us-returns-us156-million-looted-1mdb-funds-malaysia?utm_source=rss_feed Fri, 14 Jun 2024 04:10:44 +0000 Troubled Malaysian state fund 1MDB has sued Petrosaudi International Ltd.’s executive Patrick Mahony for US$1.83 billion over a 2009 joint venture with the oil exploration firm. 1MDB, in its statement of claim, said it was misled into believing that a Saudi king owned Petrosaudi, which led to it agreeing to the joint venture. Malaysiakini was the first to report on the case. The joint venture “was a sham which resulted in 1MDB suffering a complete loss of its investment,” of US$1.83 billion,... https://www.scmp.com/news/asia/southeast-asia/article/3263846/malaysias-1mdb-sues-petrosaudi-executive-seeking-us183-billion?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3263846/malaysias-1mdb-sues-petrosaudi-executive-seeking-us183-billion?utm_source=rss_feed Thu, 23 May 2024 14:22:12 +0000 Former 1Malaysia Development Bhd (1MDB) general counsel Jasmine Loo told the High Court that she would wait outside Najib Razak’s house in Jalan Langgak Duta while fugitive businessman Low Taek Jho, or Jho Low, went in to have Najib sign 1MDB-related documents. Loo, who is the prosecution’s 50th witness, said this when questioned by Deputy Public Prosecutor Deepa Nair Thevaharan at Najib’s 1MDB trial on Wednesday. “There were times when Jho Low would come out of Najib’s house and take documents... https://www.scmp.com/news/asia/southeast-asia/article/3251955/malaysia-1mdb-scandal-jho-low-would-take-documents-najib-razaks-kuala-lumpur-home-ex-counsel-jasmine?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3251955/malaysia-1mdb-scandal-jho-low-would-take-documents-najib-razaks-kuala-lumpur-home-ex-counsel-jasmine?utm_source=rss_feed Wed, 14 Feb 2024 09:35:17 +0000 Malaysia said it has recovered 23.9 million ringgit (US$5 million) worth of assets related to troubled state fund 1Malaysia Development Bhd. (1MDB) following former Goldman Sachs Inc. banker Roger Ng’s trial in the US. The money and assets, including properties, were forfeited or surrendered by two officers who worked under former Malaysian Prime Minister Najib Razak, a former 1MDB official and two persons connected to fugitive financier Low Taek Jho, or Jho Low, the Malaysian Anti-Corruption... https://www.scmp.com/news/asia/southeast-asia/article/3251413/1mdb-scandal-malaysia-recoups-us5-million-assets-after-ex-goldman-sachs-banker-roger-ngs-trial?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3251413/1mdb-scandal-malaysia-recoups-us5-million-assets-after-ex-goldman-sachs-banker-roger-ngs-trial?utm_source=rss_feed Thu, 08 Feb 2024 09:09:30 +0000 Malaysia’s pardons board on Friday said it had halved the 12-year jail term of disgraced former prime minister Najib Razak, meaning he could be eligible for release on parole next year from a corruption sentence linked to the plunder of state fund 1Malaysia Development Berhad (1MDB). The decision to slash the sentence was made by the board, which was chaired by former King Sultan Abdullah Ahmad Shah in his last official duty before passing on Malaysia’s rotating monarchy earlier this week. Najib... https://www.scmp.com/week-asia/people/article/3250724/malaysias-pardons-board-halves-ex-pm-najib-razaks-sentence?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3250724/malaysias-pardons-board-halves-ex-pm-najib-razaks-sentence?utm_source=rss_feed Fri, 02 Feb 2024 07:49:40 +0000 Malaysian Prime Minister Anwar Ibrahim has said his government was willing to consider former leader Najib Razak’s request for a removal and ban of the “Man On The Run” documentary on Netflix. “We will consider it,” Anwar said when responding to questions from the media about the official letter that Najib had submitted to the communications ministry to take action against the airing of the show by the US-based video streaming platform. “Man On The Run” spotlights the fugitive Malaysian... https://www.scmp.com/news/asia/southeast-asia/article/3248321/1mdb-scandal-anwar-says-malaysia-may-approve-najibs-request-ban-man-run-netflix-show?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3248321/1mdb-scandal-anwar-says-malaysia-may-approve-najibs-request-ban-man-run-netflix-show?utm_source=rss_feed Sat, 13 Jan 2024 06:53:12 +0000 Former Goldman Sachs banker Roger Ng arrived in Malaysia to assist in the nation’s 1MDB probe after his 10-year prison term in the US was deferred, according to a Bernama report. Malaysia’s Inspector General of Police Razarudin Husain on Sunday said Ng arrived in Malaysia around midnight, but did not disclose his whereabouts due to security reasons, the report said. The Southeast Asian nation is focusing on recovering as much as possible from the billions of dollars that were looted from the... https://www.scmp.com/news/asia/southeast-asia/article/3237269/1mdb-case-ex-goldman-sachs-banker-roger-ng-arrives-malaysia-questioning-after-us-conviction?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3237269/1mdb-case-ex-goldman-sachs-banker-roger-ng-arrives-malaysia-questioning-after-us-conviction?utm_source=rss_feed Mon, 09 Oct 2023 04:39:50 +0000 Malaysian authorities on Wednesday said that Jasmine Loo Ai Swan, an alleged key accomplice of 1MDB scandal mastermind Jho Low, had been arrested in Kuala Lumpur, signifying another major development in efforts to track down those responsible for the multibillion-dollar plunder. Home Minister Saiffudin Nasution said in a press conference that Loo – formerly a legal counsel to the 1MDB state fund – was arrested last Friday and was currently in remand for questioning at the Dang Wangi police... https://www.scmp.com/week-asia/politics/article/3227463/malaysia-1mdb-scandal-alleged-jho-low-aide-jasmine-loo-arrested-crackdown-continues?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3227463/malaysia-1mdb-scandal-alleged-jho-low-aide-jasmine-loo-arrested-crackdown-continues?utm_source=rss_feed Wed, 12 Jul 2023 11:19:45 +0000 An alleged former aide of Jho Low, the Malaysian fugitive financier accused of masterminding the 1MDB scandal, has died in Kuala Lumpur after a “sudden massive stroke”, his family said in a statement, weeks after he was reportedly questioned by corruption authorities. Kee Kok Thiam, 56, who worked with Low at Wynton Private Equity Group, is alleged to have helped Low deposit cash into the accounts of disgraced former prime minister Najib Razak in 2014 and 2015, according to court testimony heard... https://www.scmp.com/week-asia/people/article/3222413/1mdb-scandal-jho-low-aide-dies-malaysian-capital-after-suffering-massive-stroke?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3222413/1mdb-scandal-jho-low-aide-dies-malaysian-capital-after-suffering-massive-stroke?utm_source=rss_feed Wed, 31 May 2023 06:37:39 +0000 Malaysia believes financier Low Taek Jho is hiding in Macau, along with others wanted in the multibillion ringgit 1MDB scandal, Al Jazeera reported, citing the national anti-corruption body. The information was confirmed by several individuals who had spotted the fugitive, better known as Jho Low, in Macau, the Malaysian Anti Corruption Commission told Al Jazeera in a written response. This included Kee Kok Thiam, a 1MDB suspect who was arrested and released by the MACC earlier this... https://www.scmp.com/news/asia/southeast-asia/article/3222291/1mdb-fugitive-jho-low-hiding-out-macau-malaysia-says?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3222291/1mdb-fugitive-jho-low-hiding-out-macau-malaysia-says?utm_source=rss_feed Tue, 30 May 2023 07:26:49 +0000 The Malaysian government is working on expediting the extradition of fugitive businessman Jho Low through collaborations with international agencies, said Azalina Othman Said. The de facto Law Minister said that the effort also involved the Malaysian Anti-Corruption Commission (MACC). “MACC has been cooperating with foreign enforcement agencies to obtain all information related to Low. “Various efforts and negotiations through diplomatic channels are being implemented to speed up the process of... https://www.scmp.com/news/asia/southeast-asia/article/3221518/malaysia-1mdb-scandal-anwar-government-cooperating-international-agencies-expedite-jho-low?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3221518/malaysia-1mdb-scandal-anwar-government-cooperating-international-agencies-expedite-jho-low?utm_source=rss_feed Tue, 23 May 2023 07:25:56 +0000 Where is Jho Low? It is an astoundingly direct question, yet seemingly, there is no straightforward answer – at least not one that can be extracted from official sources. Recently, discussions concerning the alleged mastermind of the 1MDB financial scandal’s whereabouts have re-emerged, which got me thinking about this complication. The topic was reignited, in part, after Malaysian Prime Minister Anwar Ibrahim said last week that his government was collaborating with “many countries” to expedite... https://www.scmp.com/week-asia/opinion/article/3220166/1mdb-scandal-jho-low-hiding-china-it-depends-whom-you-ask?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3220166/1mdb-scandal-jho-low-hiding-china-it-depends-whom-you-ask?utm_source=rss_feed Fri, 12 May 2023 02:00:18 +0000 Kimora Lee, the former model and ex-wife of former Goldman Sachs banker Tim Leissner, claims that shares worth about US$93 million that he was ordered to forfeit as part of his 1MDB guilty plea actually belong to her. Lee asked a federal judge in Brooklyn, New York, on Friday to hold a hearing where she intends to establish she rightfully owns 892,732 shares in Celsius Holdings, a fitness drink maker. She claims she bought the shares with money she earned from her modelling career and her Baby... https://www.scmp.com/news/asia/southeast-asia/article/3219630/1mdb-scandal-bankers-ex-wife-says-us93-million-us-wants-belongs-her?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3219630/1mdb-scandal-bankers-ex-wife-says-us93-million-us-wants-belongs-her?utm_source=rss_feed Sat, 06 May 2023 09:46:31 +0000 Malaysia is working with “many countries” to expedite the return of fugitive financier Jho Low, Prime Minister Anwar Ibrahim said on Friday as he refused to be drawn over reports that the flamboyant fixer at the heart of the 1MDB scandal is in China and could soon be offered up by Beijing. Low – dubbed the mastermind of the web of conspiracies involving Malaysia’s state-owned 1MDB fund which saw US$4.5 billion stolen and laundered through art, diamonds and property – has been on the run since... https://www.scmp.com/week-asia/politics/article/3219510/1mdb-scandal-anwar-says-malaysia-talks-countries-speed-jho-lows-extradition?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3219510/1mdb-scandal-anwar-says-malaysia-talks-countries-speed-jho-lows-extradition?utm_source=rss_feed Fri, 05 May 2023 08:11:12 +0000 A jury on Wednesday convicted Grammy Award-winning rapper Prakazrel “Pras” Michel of The Fugees hip hop group on criminal charges that he conspired with a Malaysian financier to orchestrate a series of foreign lobbying campaigns aimed at influencing the US government under two presidents. His conviction in federal court in Washington followed a trial that was filled with political intrigue and featured high-profile witnesses including Hollywood star Leonardo DiCaprio and former US attorney... https://www.scmp.com/news/asia/southeast-asia/article/3218503/fugees-rapper-pras-michel-convicted-us-over-lobbying-campaigns-malaysias-jho-low?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3218503/fugees-rapper-pras-michel-convicted-us-over-lobbying-campaigns-malaysias-jho-low?utm_source=rss_feed Wed, 26 Apr 2023 21:19:53 +0000 Grammy-winning rapper Pras Michel told jurors on Tuesday at his illegal-lobbying trial that the party-boy Malaysian tycoon Jho Low – once a friend and now a fugitive – paid him US$20 million to get a photo with US President Barack Obama in 2012. Michel told a federal jury in Washington that Low hired him to be a “celebrity surrogate” to get the photo. The rapper is accused of funnelling illegal donations from Low into Obama’s campaign and later illegally lobbying President Donald Trump’s... https://www.scmp.com/news/asia/southeast-asia/article/3217512/1mdbs-jho-low-paid-us20-million-obama-photo-op-us-rapper-pras-michel-says?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3217512/1mdbs-jho-low-paid-us20-million-obama-photo-op-us-rapper-pras-michel-says?utm_source=rss_feed Tue, 18 Apr 2023 22:00:13 +0000 Former top Republican fundraiser Elliott Broidy gave federal jurors in the US an inside account of how he and Grammy-winning rapper Pras Michel reaped payouts from a Malaysian tycoon to lobby President Donald Trump’s administration to help end a federal investigation into the 1MDB scandal. At Michel’s criminal trial in Washington, Broidy testified on Tuesday about how the musician assembled a team in 2017 to get the US Justice Department to drop its civil investigation of Jho Low, who’s accused... https://www.scmp.com/news/asia/southeast-asia/article/3216026/malaysias-jho-low-paid-rapper-lobby-donald-trump-drop-1mdb-investigation-us-court-hears?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3216026/malaysias-jho-low-paid-rapper-lobby-donald-trump-drop-1mdb-investigation-us-court-hears?utm_source=rss_feed Wed, 05 Apr 2023 01:18:07 +0000 Actor Leonardo DiCaprio told a Washington jury on Monday that Malaysian financier Jho Low revealed his plans to donate up to US$30 million to help US President Barack Obama’s 2012 re-election campaign in what prosecutors allege was part of an illegal foreign influence operation. “It was a casual conversation about what party he was in support of,” DiCaprio said, telling jurors that Low said he planned on giving “a significant donation” to the Democratic Party that was “somewhere to the tune of... https://www.scmp.com/news/asia/southeast-asia/article/3215895/leonardo-dicaprio-says-malaysias-jho-low-planned-donate-obama-campaign?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3215895/leonardo-dicaprio-says-malaysias-jho-low-planned-donate-obama-campaign?utm_source=rss_feed Mon, 03 Apr 2023 20:40:20 +0000 A federal prosecutor on Thursday accused Grammy-winning rapper Prakazrel “Pras” Michel of The Fugees hip hop group of illegally taking tens of millions of dollars to lobby the US government on behalf of a Malaysian financier and the Chinese government. The accusations were made at the start of a trial that prosecutor Nicole Lockhart said will link Michel to financier Jho Low, who is suspected of embezzling US$4.5 billion from Malaysia’s 1MDB sovereign wealth fund, and a Chinese government... https://www.scmp.com/news/asia/southeast-asia/article/3215487/us-accuses-fugees-rapper-pras-michel-illegal-lobbying-1mdb-fugitive-jho-low-china?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3215487/us-accuses-fugees-rapper-pras-michel-illegal-lobbying-1mdb-fugitive-jho-low-china?utm_source=rss_feed Fri, 31 Mar 2023 01:21:20 +0000 The alleged mastermind behind Malaysia’s 1MDB scandal has been sentenced in absentia to 10 years’ hard labour in Kuwait for laundering more than US$1 billion, according to a judgment seen on Wednesday. Malaysian financier Low Taek Jho, also known as Jho Low, was sentenced alongside a Kuwaiti sheikh and three other accomplices in the latest international case stemming from the multibillion-dollar scam. The five men laundered “343.7 million Kuwaiti dinars [US$1.1 billion] while knowing that these... https://www.scmp.com/news/asia/southeast-asia/article/3215306/1mdb-scandal-kuwait-sentences-alleged-malaysian-mastermind-jho-low-absentia?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3215306/1mdb-scandal-kuwait-sentences-alleged-malaysian-mastermind-jho-low-absentia?utm_source=rss_feed Wed, 29 Mar 2023 14:19:38 +0000 Roger Ng, the only Goldman Sachs banker tried and convicted in the global 1MDB scandal, asked a judge to let him serve his 10-year prison term in Danbury, Connecticut – the same facility where hotel magnate Leona Helmsley was imprisoned for tax evasion in the early 1990s. Ng’s lawyer, Marc Agnifilo asked US District Judge Margo Brodie in a letter that she recommend the “lowest-possible designation” at the low-security federal prison for his client. Ng requires mental health treatment because he... https://www.scmp.com/news/asia/southeast-asia/article/3214374/1mdb-scandal-malaysias-roger-ng-wants-go-orange-new-black-celebrity-prison?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3214374/1mdb-scandal-malaysias-roger-ng-wants-go-orange-new-black-celebrity-prison?utm_source=rss_feed Wed, 22 Mar 2023 01:32:41 +0000 Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday, after he was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. A jury in Brooklyn federal court last April found Ng, Goldman’s former head of investment banking in Malaysia, guilty of helping his former boss Tim Leissner embezzle money from the fund, launder the proceeds and bribe government officials to win business. The charges stem from some US$6.5 billion in bonds... https://www.scmp.com/news/asia/southeast-asia/article/3213008/ex-goldman-banker-roger-ng-gets-10-years-prison-1mdb-corruption-case?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3213008/ex-goldman-banker-roger-ng-gets-10-years-prison-1mdb-corruption-case?utm_source=rss_feed Thu, 09 Mar 2023 18:38:52 +0000