Malaysia, 1MDB seeks more than $ 5.6 billion in damages from KPMG partners
Rosanna Zambon and Liz Lee, 10 July 2021
Kuala Lumpur (Reuters)-Malaysia Development Berhad (1MDB), a Malaysian government and state fund, has sought more than $ 5.6 billion in damages from KPMG partners on suspicion of violations and negligence related to corruption scandals at the fund. A court document seen by Reuters showed.
Audit firm KPMG denied the allegations on Friday, promising to “violently” challenge the proceedings filed against 44 current and previous partners, and auditing 1MDB’s financial statements from 2010 to 2012. Linked to.
The proceedings confirmed by the Treasury on Tuesday are the latest in a series of proceedings filed by Malaysian authorities to recover the billions of dollars missing from 1MDB, worldwide. Continue reading “Article: Malaysia, 1MDB seeks more than $ 5.6 billion in damages from KPMG partners”
Jho Low Mounted Secret Lobbying Campaign Over 1MDB Probe, U.S. Says
David Yaffe-Bellany, David Voreacos, and Patricia Hurtado, 11 June 2021
A Malaysian financier and a former member of hiphop trio the Fugees were accused in a new indictment of illegally lobbying the Trump administration to drop an investigation tied to the 1MDB global bribery scandal and remove a Chinese dissident from the U.S.
A federal grand jury on Thursday returned a superseding indictment against Low Taek Jho, also known as Jho Low, and Prakazrel “Pras” Michel, according to a Justice Department statement Friday. Continue reading “Article: Jho Low Mounted Secret Lobbying Campaign Over 1MDB Probe, U.S. Says”
Malaysia’s 1MDB, ex-unit seek recovery of $23 bln in assets
Reuters, 10 May 2021
Malaysian state fund 1Malaysia Development Berhad (1MDB) and a former unit have filed 22 civil suits seeking to recover more than $23 billion in assets from entities and people allegedly involved in defrauding them, the finance ministry said on Monday.
The ministry, in a statement on the suits, did not identify any of the individuals or entities being sued but said two foreign financial institutions were among them. The Edge business daily, citing court documents that it said it had seen, reported that JP Morgan (JPM.N) and Deutsche Bank (DBKGn.DE) were among those being sued.
Malaysian officials did not immediately confirm the names. Continue reading “Article: Malaysia’s 1MDB, ex-unit seek recovery of $23 bln in assets”
After striking settlements with Goldman Sachs, Deloitte and AmBank, Putrajaya now hunting down other 1MDB wrongdoers
YISWAREE PALANSAMY, 10 May 2021
KUALA LUMPUR, May 10 — The government is hunting down others who have received funds from 1Malaysia Development Berhad (1MDB) and SRC International Sdn Bhd, after settlements with banking giants Goldman Sachs, Deloitte PLT and Ambank Group.
In a statement today, the Ministry of Finance (MoF) said that six of the recent civil suits on 1MDB were filed by the fund itself, while 16 were by its subsidiary SRC for the recovery of assets with a combined total in excess of RM96.6 billion, including approximately RM300 million against various local parties. Continue reading “Article: After striking settlements with Goldman Sachs, Deloitte and AmBank, Putrajaya now hunting down other 1MDB wrongdoers”