atans1

“Dodge City marshall” investigating 1MDB monies

In Corporate governance, Malaysia on 21/07/2016 at 1:38 pm

The US Department of Justice has moved to seize more than U$1bnfrom Malaysia’s state fund 1MDB.

The DoJ alleges the funds were “misappropriated” and though it did not name Prime Minister Najib Razak directly, he is identifiable in the suit as someone whose account allegedly received huge sums. He has in the past denied wrongdoing.

The US Attorney General Loretta Lynch says that the “Malaysian people were defrauded on a monumental scale”.

among the things bought by the money were:

  • L’Ermitage hotel property and business
  • Park Lane Hotel assets in New York
  • Four California properties
  • Four New York properties
  • One London property
  • A private jet
  • EMI assets, including royalties
  • Van Gogh painting
  • Two Monet paintings

http://www.bbc.com/news/business-36852755

 

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