Khairuddin sues Rosmah to return jewellery to 1MDB

Source: FMT News

The vocal 1MDB critic says jewellery was a gift to the PM’s wife in March 2014, which she has knowledge of.

KUALA LUMPUR: 1MDB critic Khairuddin Abu Hassan has filed a suit seeking that the High Court order the prime minister’s wife, Rosmah Mansor, to return a 22-carat pink diamond set in a necklace to the sovereign wealth fund.

The former Umno leader, who was sacked from the party two years ago, also wants businessman Low Taek Jho to pay 1MDB all the money allegedly misappropriated from the company.

Khairuddin said he was initiating the suit as no other individual was bringing any action to recover the jewellery and enforce the law.

“The taxpayers will benefit through the recovery of the jewellery because they are the ultimate paymasters of 1MDB debts,” he claimed.

He also wants Rosmah and the businessman, better known as Jho Low, to compensate 1MDB for the alleged misappropriation and use of the jewellery and repay any money due to the company. Read more

US now moves criminal investigation into 1MDB funds

Source: FMT News

DoJ has asked a court in Los Angeles to put on hold its civil forfeiture lawsuits against Jho Low.

Image drawn from FMT News

LOS ANGELES: The US is conducting a criminal investigation into money stolen from 1MDB that allegedly was used to buy more than US$1 billion in real estate and other assets.

Court filings by the Department of Justice (DoJ) Thursday show the US is escalating its probe in a worldwide effort to track how much of the money that was raised by 1MDB for development projects was used to pay for luxury real estate, art, film productions and more.

DoJ officials asked a judge in Los Angeles to put on hold civil forfeiture lawsuits against assets acquired by Malaysian financier Low Taek Jho, also known as Jho Low, because pursuing these may have “an adverse effect” on its ability to conduct the criminal investigation.

In its civil cases, the US has alleged that from 2009 through 2015, more than US$4.5 billion belonging to 1MDB was diverted by high-level officials of the fund and their associates.

An FBI agent warned in a court filing that information disclosed in the civil cases may reveal “potential targets and subjects of the investigation and the investigative techniques that have been and will be used in the investigation.”

“Such disclosures could result in the destruction of evidence, flight of potential subjects and targets, or the identification and intimidation of potential witnesses,” according to the agent’s declaration. Read more

Laporan: AS sedia dakwa Jho Low

Source: FMT News

Sepasukan dari Jabatan Kehakiman AS sudah selesai menemuramah beberapa pihak di Singapura baru-baru ini, lapor WSJ. Pic dari FMT News.

Sepasukan dari Jabatan Kehakiman AS sudah selesai menemuramah beberapa pihak di Singapura baru-baru ini, lapor WSJ. Pic dari FMT News.

PETALING JAYA: Pihak berkuasa Amerika Syarikat (AS) dilaporkan bersedia mendakwa Low Taek Jho, atau Jho Low, jutawan rakyat Malaysia kelahiran Pulau Pinang yang dinamakan Jabatan Kehakiman AS (DOJ) tahun lalu dalam kertas siasatan salah guna wang 1MDB, lapor The Wall Street Journal (WSJ).

WSJ memetik sumber di Singapura berkata pasukan DOJ baru-baru ini selesai melakukan soal siasat di republik itu dalam persediaannya mendakwa Jho Low.

Pada 20 Julai, DoJ menerusi siasatannya mendapati lebih AS$3.5 bilion dilencongkan daripada dana 1MDB, syarikat milik Kementerian Kewangan yang diilhamkan Perdana Menteri Datuk Seri Najib Razak pada 2009.

DoJ memfailkan saman sivil di Los Angeles untuk merampas sejumlah AS$1.2 bilion aset yang dibeli dengan dana didakwa digelapkan daripada 1MDB dan dipindahkan ke AS menggunakan syarikat kosong, dan menamakan beberapa individu. Read more

Aktivis Swiss desak DiCaprio pulangkan wang rakyat Malaysia

Sumber: FMT News

Oleh Raevathi Supramaniam

Bintang filem Hollywood itu berada di London untuk tayangan perdana dokumentari mengenai perubahan iklim dan turut dijemput ke sidang akhbar mengenai 1MDB anjuran Bruno Manser Fond. Gambar dari FMT News.

Bintang filem Hollywood itu berada di London untuk tayangan perdana dokumentari mengenai perubahan iklim dan turut dijemput ke sidang akhbar mengenai 1MDB anjuran Bruno Manser Fond. Gambar dari FMT News.

LONDON: Kumpulan aktivis berpangkalan di Switzerland, Bruno Manser Fond mendesak pelakon Leonardo DiCaprio memulangkan semula AS$25 juta yang diperoleh menerusi filem “Wolf of Wall Street” kepada rakyat Malaysia.

Kumpulan itu turut mendesak DiCaprio menarik diri sebagai duta keamanan Pertubuhan Bangsa-bangsa Bersatu untuk perubahan iklim.

“DiCaprio kurang layak untuk peranan seperti itu,” kata pengarah eksekutif kumpulan itu, Lukas Straumann yang mendakwa DiCaprio dan yayasannya menerima manfaat daripada pembabitannya dengan Jho Low dan Riza Aziz, menerusi sumbangan lebih AS$2 juta yang diterima yayasan itu.

“Dia berhutang dengan rakyat Malaysia akauntabiliti terhadap ikatan kewangannya bersama Jho Low dan Riza Aziz,” katanya. Read more

Behind the 1MDB Scandal: Banks That Missed Clues and Bowed to Pressure

Source: The Wall Street Journal

AmBank in Kuala Lumpur handled private bank accounts for Malaysian Prime Minister Najib Razak. PHOTO: SHCHERBAK ALEXANDER/TASS/ZUMA PRESS

Financier Jho Low, who investigators believe is at the center of one of the largest-ever financial scandals, kept up a stream of messages to an official at AmBank Bhd. Mr. Low was obsessed about how the bank handled the peculiar accounts of Malaysian Prime Minister Najib Razak.

Don’t let people outside the bank or more than a few people inside know about the accounts, he instructed. Use Gmail, not the bank’s email system, for communication. Whatever you do, don’t send credit-card statements to the prime minister’s house.

“No no no,” Mr. Low wrote, according to transcripts of BlackBerry messages reviewed by The Wall Street Journal. “Super sensitive.” He instead had someone collect the statements by hand.

Between 2009 and 2013, Mr. Low, a family friend of the prime minister, and his associates helped embezzle at least $3.5 billion from 1Malaysia Development Bhd., a state investment fund created by Mr. Najib, the U.S. Justice Department alleged in a lawsuit filed in July.

It couldn’t have happened without the cooperation of a handful of bankers and the failure of a host of financial institutions and regulators to detect the alleged fraud, investigators believe. Mr. Low and his cohorts for years eluded detection or interference by at least eight banks, big accounting firms, a central bank and various government regulators, according to the Justice Department, investigative documents from other countries and people familiar with the affair. The banks included Goldman Sachs Group Inc. and Standard Chartered PLC. Read more

1MDB: The inside story of the world’s biggest financial scandal

Source: The Guardian

On 22 June 2015, Xavier Justo, a 48-year-old retired Swiss banker, walked towards the front door of his brand new boutique hotel on Koh Samui, a tropical Thai island. He had spent the past three years building the luxurious white-stone complex of chalets and apartments overlooking the shimmering sea and was almost ready to open for business. All he needed was a licence.

Justo had arrived in Thailand four years earlier, having fled the drab world of finance in London. In 2011, he and his girlfriend Laura toured the country on a motorbike and, two years later, they got married on a secluded beach. The couple eventually settled down in Koh Samui, a tourist hotspot, just an hour’s flight south of Bangkok. After trying out a couple of entrepreneurial ventures, Justo eventually decided that he would go into the hotel business. He bought a plot with an imposing house and began building: adding a gym, villas and a tennis court.

That June afternoon, he was expecting a visit from the tourism authorities to sign off on the paperwork. Instead, a squad of armed Thai police burst through the unlocked door, bundling Justo to the ground. The officers tied their plastic cuffs so tightly around Justo’s wrists that he bled on the dark tiled floor. The police quickly moved into his office, ripping out the computers and emptying the filing cabinets.

After two days in a ramshackle local jail, Justo was flown to Bangkok and paraded before the media, in a press conference befitting a mafia kingpin. Still wearing shorts and flip-flops, he was flanked by four commandos holding machine guns, while a quartet of senior Royal Thai Police officers briefed the assembled reporters on the charges against him.

Justo was charged with an attempt to blackmail his former employer, a little-known London-based oil-services company named PetroSaudi. But behind this seemingly mundane charge lay a much bigger story.

Six months earlier, Justo had handed a British journalist named Clare Rewcastle Brown thousands of documents, including 227,000 emails, from the servers of his former employer, PetroSaudi, which appeared to shed light on the alleged theft of hundreds of millions of dollars from a state-owned Malaysian investment fund known as 1MDB.

The documents that Justo leaked have set off a chain reaction of investigations in at least half a dozen countries, and led to what Loretta Lynch, the US attorney general, described last week as “the largest kleptocracy case” in US history. Read more

Singapore seizes $240m in assets in 1MDB probe, half from flamboyant Malaysian financier Jho Low and family

Source: The Straits Times

Half of the $240m in assets seized in 1MDB probe belong to flamboyant Malaysian billionaire Low Taek Jho.PHOTO: SOUTH CHINA MORNING POST

SINGAPORE – About half of some S$240 million worth of assets seized by Singapore authorities in the course of their investigations in relation to various 1MDB-related fund flows, belong to flamboyant Malaysian billionaire Low Taek Jho and his immediate family, it was disclosed on Thursday (July 21).

The Attorney-General’s office, the Commercial Affairs Division and Monetary Authority of Singapore said this on Thursday in response to action taken by the US Justice Department to forfeit and recover more than US$1 billion in assets associated with an international conspiracy to launder funds related to Malaysan state fund 1MDB.

Mr Low, 34, who is most often referred to as Jho Low, is a confidant of Prime Minister Najib Razak’s family and among figures allegedly at the heart of 1MDB’s angled dealings. Mr Low has said previously he provided “occasional” consulting to 1MDB that did not break any laws.

The US in its lawsuit alleged he bought up penthouses in New York, a mansion in Beverly Hills and expensive art fraudulently using 1MDB funds. Read more