1Malaysia Development Berhad
Insolvent development company embroiled in scandals
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1Malaysia Development Berhad (1MDB) is an insolvent Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated). Since 2015, the company has been under heavy scrutiny for its suspicious money transactions and evidence pointing to money laundering, fraud, and theft. A lawsuit filed by United States Department of Justice (DOJ), alleged that at least US$3.5 billion has been stolen from Malaysia's 1MDB state-owned fund.
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Malaysian ex-PM Najib faces July verdict in first 1MDB-linked trialA Malaysian court will deliver its verdict in a case against former prime minister Najib Razak on July 28, the first of several corruption trials he faces over a multibillion-dollar scandal at state..
Swiss trial begins of banker alleged to have ignored 1MDB warningsA banker went on trial in Switzerland on Tuesday charged with failing to sound the alarm over millions of dollars linked to scandal-tainted Malaysian sovereign wealth fund 1MDB.
Stepson of Malaysian ex-PM Najib could testify against him in 1MDB trial -prosecutorsRiza Aziz, the stepson of former Malaysian prime minister Najib Razak, has agreed to testify against the ex-premier in a trial linked to a multibillion-dollar fraud at state fund 1Malaysia Development..
Malaysia to recover $107.3 mln after settling 1MDB case against 'Wolf of Wall Street' producerProsecutors dropped money-laundering charges against Riza Aziz - a Hollywood producer and the stepson of Malaysia's former prime minister Najib Razak - on Thursday after a deal that officials said..
Malaysia drops 1MDB money laundering case against "Wolf of Wall Street" producerMalaysian prosecutors on Thursday dropped a $248-million money laundering case against a producer of Hollywood film "The Wolf of Wall Street" and the stepson of former Malaysian prime minister Najib..
Malaysia recovers $323 million of 1MDB fraud money, PM's office saysMalaysia has recovered 1.4 billion ringgit ($323 million) of funds allegedly stolen from state fund 1MDB and identified another 6.9 billion ringgit for recovery, the prime minister's office said on..
U.S. should 'think twice' before returning 1MDB funds to Malaysia, says ex-PM MahathirThe United States should "think twice" before giving Malaysia back the money recovered from an anti-kleptocracy probe into state fund 1MDB, former prime minister Mahathir Mohamad said on Friday, as the..
Malaysia's new PM names CIMB chief executive as new finance ministerMalaysia's new Prime Minister Muhyiddin Yassin named the chief executive of CIMB Group as finance minister on Monday, and appointed a new head of the anti-graft commission investigating how billions of..
U.S. delays returning more 1MDB funds to Malaysia, sources say-The U.S. Department of Justice has delayed the return to Malaysia of another $240 million of recovered money allegedly stolen from the 1MDB sovereign fund, two sources with direct knowledge of the..
Malaysia anti-graft chief who probed 1MDB scandal quitsMalaysia's anti-corruption chief who investigated the 1MDB fraud said on Friday that she had resigned, the second such exit in the last few days after a party that was defeated in the 2018 general..
Malaysia's Najib expects more conducive atmosphere for 1MDB trialOn trial for corruption that includes the multi-billion dollar 1MDB fraud, former Malaysian prime minister Najib Razak said on Wednesday that the fall of the government that ousted him meant he now..
After Malaysia's political turmoil, questions over trials in 1MDB scandalHours after Malaysia's change of leadership at the weekend, former prime minister Najib Razak posted a picture of himself smiling and giving a thumbs up on social media.
Goldman Sachs pleads not guilty in Malaysia over 1MDB bond sales - state mediaThree units of Goldman Sachs pleaded not guilty to charges of misleading investors regarding $6.5 billion in bond sales that the U.S. investment bank helped raise for state fund 1Malaysia Development..
Banned Thai opposition party says junta helped 1MDB cover-upA banned Thai opposition party on Sunday accused the former military junta of helping cover up Malaysia's multi-billion-dollar 1MDB scandal, urging Thais to demand the truth ahead of a censure debate..
Former Malaysian PM Najib takes stand in 1MDB scandal-linked trialFormer Malaysian Prime Minister Najib Razak took to the witness box for the first time on Tuesday to defend himself on criminal charges linked to a multibillion-dollar scandal at state fund 1Malaysia..
Malaysian court says 1MDB-linked case against Najib will move forward; ex-PM to defendA Malaysian court on Monday ordered former Prime Minister Najib Razak to present his defense against seven charges in a case linked to a scandal surrounding 1MDB, saying a unit of the state fund had..
Malaysian court tells former PM Najib to defend himself in 1MDB-linked caseA Malaysian court on Monday ordered former Prime Minister Najib Razak to present his defense against seven counts of criminal breach of trust, money laundering and abuse of power in a case linked to a..
Malaysian police say 1MDB fugitive Low seeking to buy Cyprus propertiesMalaysian police said on Wednesday that fugitive financier Low Taek Jho, accused of a multi-billion dollar theft at state fund 1Malaysia Development Berhad (1MDB), is attempting to purchase properties..
Malaysia says country shielding 1MDB fugitive Jho Low refuses to cooperateMalaysian fugitive Low Taek Jho, wanted over a multibillion dollar scandal at state fund 1MDB, is living in a country that has refused to cooperate on efforts to retrieve him, Malaysia's police chief..
Malaysian financier Jho Low ready to address other issues after U.S. settlementFugitive financier Jho Low is ready to address issues related to the 1MDB scandal in Malaysia or elsewhere, a spokesman from the Wells Haslem Mayhew Strategic Public Affairs agency who handles press..
U.S. agrees $1 billion 1MDB forfeiture deal with Malaysia's Jho LowThe U.S. Justice Department on Wednesday reached its biggest civil forfeiture deal in agreeing to recover almost $1 billion in funds Malaysian financier Jho Low and his family had allegedly..
Freed of 1MDB taint, Malaysia's tallest tower opens its doorsMalaysia's tallest skyscraper is ready to take in tenants from December, its developer said on Wednesday, looking to move past its links to the 1MDB scandal and focus on making headway in an..
Malaysia’s Najib clueless about millions banked in his account, lawyers sayFormer Malaysian prime minister Najib Razak did not know that millions of dollars transferred into his personal accounts came from scandal-linked state fund 1MDB, his lawyers said on Wednesday as..
Malaysia, Goldman discuss smaller penalty over 1MDB scandal: BloombergMalaysia has discussed a $2 billion to $3 billion settlement with Goldman Sachs over the U.S. bank's alleged role in the 1MDB scandal, Bloomberg reported on Wednesday, less than half the sum the..
Malaysian prosecutor: Najib orchestrated graft like an 'emperor'Former Malaysian Prime Minister Najib Razak acted like an "emperor" who orchestrated massive fraud at a former unit of scandal-linked state fund 1Malaysia Development Berhad (1MDB), the country's..
Superyacht linked to Malaysia's 1MDB for sale, againA superyacht linked to a multi-billion dollar corruption scandal at Malaysian fund 1MDB is up for sale, according to a listing by the yacht broker.
Malaysia, Goldman discuss dropping 1MDB charges: top prosecutor to NikkeiMalaysia is open to more talks with Goldman Sachs after having two rounds of discussions to drop criminal charges against three units of the bank over the 1MDB scandal, the country's top prosecutor..
Malaysia, Goldman talking dropping criminal charges over 1MDBGoldman Sachs has been in talks with authorities in Malaysia to drop criminal charges against three subsidiaries of the bank in connection with the 1MDB scandal, the Southeast Asian country's top..
Malaysia fines Najib's brother, others for receiving 1MDB fundsMalaysia has fined the brother of former premier Najib Razak and other people and companies for allegedly receiving money from state fund 1MDB, the country's anti-graft chief said on Monday.
Malaysia fines 80 people, companies in 1MDB case: anti-graft chiefMalaysia has fined 80 individuals and entities for allegedly receiving money from state fund 1MDB, the country's anti-graft chief said on Monday.
Malaysia says no talks with Goldman Sachs on recovering funds lost in 1MDB scandalMalaysia's finance minister on Friday said there are no talks with Goldman Sachs Group Inc on the recovery of billions of dollars of state funds lost via the U.S. bank's former client 1Malaysia..
Malaysia had plan to use Chinese money to bail out 1MDB, court hearsMalaysia's former leader Najib Razak approved a plan to bail out troubled state fund 1MDB by offering stakes in several big infrastructure projects to Chinese firms in 2016, a former aide told a court..
Malaysia aims to recover nearly $1 billion paid out by former 1MDB unitMalaysia is pursuing civil action to recover about 4 billion ringgit ($954.65 million) of funds disbursed by a former subsidiary of 1MDB, a now-defunct state fund under investigation for money..
At start of 1MDB trial, prosecution paints a tale of excess and abuseMalaysian prosecutors on Wednesday said former prime minister Najib Razak abused his power to cover up the theft of hundreds of millions of dollars from the state fund 1MDB and used the fund for..
Malaysia court postpones biggest 1MDB trial involving ex-PM NajibA Malaysian court on Monday postponed for a week the biggest of five trials linked to a multi-billion-dollar scam at state fund 1MDB and allegedly involving former prime minister Najib Razak.
Prosecutors seek sale of luxury homes linked to stepson of Malaysian ex-PMU.S. prosecutors are seeking to sell three luxury homes linked to the stepson of former Malaysian prime minister Najib Razak, court documents showed, in the latest effort to recover money allegedly..
Malaysia files charges against current, former directors of Goldman Sachs unitsMalaysia has filed criminal charges against 17 current and former directors at subsidiaries of Goldman Sachs Group Inc in a multi-billion-dollar corruption investigation at state fund 1MDB, the..
'Wolf of Wall Street' producer charged with 1MDB money laundering in MalaysiaMalaysia on Friday charged one of the "Wolf of Wall Street" film producers, and stepson of former prime minister Najib Razak, with money laundering, alleging he misappropriated $248 million linked to..
Film producer stepson of Malaysian ex-PM charged with money launderingMalaysia on Friday charged the Hollywood producer stepson of former prime minister Najib Razak with money laundering linked to state fund 1Malaysia Development Berhad (1MDB).