Topic
1Malaysia Development Bhd (1MDB) is a state investment fund that came under investigation for alleged impropriety in July 2015, after reports emerged that investigators traced some US$700 million wired into Prime Minister Najib’s bank accounts. Both the fund and the premier denied wrongdoing, but the attorney general launched an investigation into alleged graft. 1MDB was 42 billion ringgit (HK$86 billion) in debt at the time of the scandal.
Hong Kong’s securities watchdog has bared its teeth in many cases of malpractice and should spare no effort to safeguard city’s reputation as a global financial hub.
Whatever the political fallout from the conviction and jailing of former prime minister Najib Razak, the country’s courts deserve a pat on the back.
- President Ferdinand Marcos Jnr calls for more direct investment into the Philippines in areas including infrastructure, power generation, agriculture and renewable energy
- The fund will operate without political interference, Marcos Jnr adds, amid Philippine lawmakers’ concerns it could fall victim to mismanagement
The decision to drop corruption charges against Deputy PM Ahmad Zahid Hamidi sparked criticism that the move is a betrayal of PM Anwar’s reform agenda.
There are also signs of discontent in Anwar’s PH party as he tries to woo the Malay community – Najib’s allies – that mostly had gone for the opposition.
Rosmah Mansor, the wife of ex-Malaysian prime minister Najib Razak, has applied to a court to drop her 12 money laundering charges and five tax evasion charges.
Under the prohibition, Ng is permanently banned from performing any regulated activity under the Securities and Futures Act (SFA), according to the Monetary Authority of Singapore.
Umno President Ahmad Zahid Hamidi said the former Malaysian prime minister, who was jailed for corruption last year, must ‘get the justice he deserves’.
Malaysia’s prime minister said in an interview that he was ‘not discounting the possibility’ of a fresh lawsuit against the Wall Street firm for its role in the multibillion-dollar scandal.
Attorney general removes Deputy Public Prosecutor Raja Rozela Raja Toran from the case based on her April application for early retirement.
Highly anticipated witness Zeti Akhtar Aziz appeared in court for the prosecution in ex-Prime Minister Najib Razak’s corruption trial.
Jasmine Loo, formerly a legal counsel to the 1MDB fund, was said to have fled Malaysia before the 2018 general election.
The Malaysian PM’s uneasy alliance with his long-time rivals faces its first real test as 6 statewide polls loom, with analysts warning his government ‘can’t survive’ without the pro-Malay platform Umno provides.
Readers discuss the hopes for better US-China relations, the allegations against a Malaysian judge who convicted former prime minister Najib Razak, a critical moment in the Ukraine war, and why criticism of refugees is plain wrong.
Political observers suggest the probe was part of a wider campaign by Najib’s allies to discredit the judiciary and make a case for his full exoneration.
The SFC’s fines on misconduct in the capital markets jumped five-fold to HK$369.75 million (US$47.1 million) last year, with the regulator completing nearly 50 per cent more investigations, a study showed.
Kee Kok Thiam’s family said he suffered a ‘sudden massive stroke’, weeks after he was reportedly questioned by Malaysia’s corruption authorities.
Malaysia’s Anti Corruption Commission said in a statement that it had confirmed the fugitive Malaysian financier’s whereabouts with several eyewitnesses, including another 1MDB suspect.
Malaysia’s Law Minister Azalina Othman Said confirmed the anti-corruption body has been cooperating with foreign agencies to speed up the process of bringing Low back to Malaysia.
The platform, called Cosmic, is meant to make it easier for financial institutions to share information on risky clients, and detect and deter scams, money laundering and terrorism financing.
Kimora Lee, ex-wife of former Goldman Sachs banker Tim Leissner, claims shares she bought with money earned from her modelling career and clothing line were wrongly included as proceeds of his crimes.
PM Anwar Ibrahim says his administration is working with ‘many countries’ to repatriate Low, who masterminded the looting of US$4.5 billion from the 1MDB sovereign wealth fund.
Prosecutors accused Pras Michel of plotting with Low to attempt to influence the administrations of US presidents Barack Obama and Donald Trump.
The ex-Fugees member says the Malaysian tycoon was willing to ‘spend any type of money’, but his ‘party guy’ reputation made it hard to get fundraiser invites.
Prime Minister Anwar Ibrahim said a government task force was scrutinising the 2020 deal with Goldman, adding that it was a matter of recovering public funds.
Request for pardon to be deliberated by the Pardons Board which includes the king and PM Anwar Ibrahim, who has brushed aside concerns of conflict of interest.
Readers discuss Malaysia’s case review rule, recruiting police officers from mainland China, and why Hong Kong’s education system must stop producing exam-passing robots.
Prime Minister Anwar Ibrahim also said there is no issue of conflict of interest with him being part of the Pardons Board.
Grammy-winning US rapper Pras Michel of hip-hop group the Fugees is accused of illegally lobbying on the fugitive Malaysian financier’s behalf as well as acting as an unregistered agent of China.
The subject of a possible contribution of up to US$30 million came up during ‘casual conversation’, the US star said during Fugees rapper Pras Michel’s foreign influence trial.
