Malaysia questions Goldman Sachs lawsuit over 1MDB settlement, saying it's premature
1 year, 2 months ago

Malaysia questions Goldman Sachs lawsuit over 1MDB settlement, saying it's premature

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Under a 2020 deal, Goldman Sachs paid Malaysia $2.5 billion to resolve criminal charges over the 1MDB saga. Malaysia says Goldman Sachs failed to recover the agreed amount last year and must pay the $250 million. the parties are still considered to be in the amicable good faith discussions stage and therefore as an aggrieved party, the 1MDB task force views Goldman Sachs’ initiation of arbitration proceedings as premature,” he said in a statement. Tim Leissner, Ng’s former boss at Goldman Sachs, pleaded guilty in 2018 to bribing government officials in Malaysia and the United Arab Emirates.

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History of this topic

Malaysia’s scandal-hit 1MDB sues Amicorp, seeks $1bn for alleged fraud
2 days, 8 hours ago

Malaysia’s scandal-hit 1MDB sues Amicorp, seeks $1bn for alleged fraud

Al Jazeera  

The scandal-hit fund says Amicorp ‘played a vital role’ in facilitating the laundering of more than $7bn. Malaysia’s scandal-hit 1Malaysia Development Berhad fund has said it will sue corporate services provider Amicorp Group and its CEO Toine Knipping for more than $1bn, for allegedly facilitating more than $7bn in fraudulent transactions over a five-year period. It highlighted that Amicorp “played …

Malaysia's ex-PM Najib Razak faces new graft charges, alleged bribe scheme involving $510 million
3 weeks, 3 days ago

Malaysia's ex-PM Najib Razak faces new graft charges, alleged bribe scheme involving $510 million

Firstpost  

The former prime minister, already serving a six-year jail term for corruption related to the plunder of sovereign wealth fund 1MDB, faces several other cases linked to the financial scandal that led to his defeat in 2018 elections Former Malaysian Prime Minister Najib Razak escorted by prison officers as the jailed politician left the court after court proceedings in Kuala …

Swiss court convicts 2 top PetroSaudi executives in fallout from 1MDB Malaysian fund scandal
3 months, 3 weeks ago

Swiss court convicts 2 top PetroSaudi executives in fallout from 1MDB Malaysian fund scandal

Associated Press  

GENEVA — Switzerland’s federal criminal court on Wednesday convicted two top managers of a Saudi oil company on charges including fraud and money laundering in a vast scam that swiped at least $1.8 billion from a Malaysian state-owned investment fund. In an email to the AP, she wrote that the court’s summary of the decision read out in court on …

Malaysia handed back $156m in stolen 1MDB funds, US embassy says
6 months, 1 week ago

Malaysia handed back $156m in stolen 1MDB funds, US embassy says

Al Jazeera  

US ambassador says returned assets can be used for original purpose of bettering the lives of everyday Malaysians. Malaysia has been handed back $156m in assets linked to the 1MDB scandal after an investigation by the United States, the US embassy in Kuala Lumpur has said. “This extraordinary sum of money is going back to the people of Malaysia where …

Malaysia halves ex-PM Najib Razak’s jail term in 1MDB corruption scandal
10 months, 3 weeks ago

Malaysia halves ex-PM Najib Razak’s jail term in 1MDB corruption scandal

Al Jazeera  

Najib, the first prime minister in the country’s history to be jailed, remains on trial in multiple cases related to the fund. Malaysia has halved the sentence of disgraced former Prime Minister Najib Razak, who was convicted and sent to jail for 12 years for corruption in the multibillion-dollar 1MDB scandal. Najib, the first leader in the country’s history to …

Why is Goldman Sachs suing Malaysia over 1MDB scandal?
1 year, 2 months ago

Why is Goldman Sachs suing Malaysia over 1MDB scandal?

Al Jazeera  

Prominent US investment bank in dispute with Malaysia over settlement relating to its role in scandal at state fund. The United States investment bank Goldman Sachs has sued Malaysia in a London arbitration court amid rising tension over a settlement deal reached in connection with the bank’s role in the multibillion-dollar corruption scandal at state fund 1MDB. Three years ago, …

Ex-Goldman banker Ng sentenced to 10 years over 1MDB scandal
1 year, 9 months ago

Ex-Goldman banker Ng sentenced to 10 years over 1MDB scandal

Al Jazeera  

Ng was last year found guilty of helping his former boss Tim Leissner embezzle money from the sovereign wealth fund. Former Goldman Sachs banker Roger Ng has been sentenced to 10 years in prison after he was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. A jury in Brooklyn federal court last April found Ng, …

Ex-Goldman banker gets 10-year sentence in 1MDB looting plot
1 year, 9 months ago

Ex-Goldman banker gets 10-year sentence in 1MDB looting plot

Associated Press  

NEW YORK — A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian sovereign wealth fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf of Wall Street.” Roger Ng was convicted last April by a U.S. District …

Ex-Goldman Sachs banker is sentenced to 10 years for 1MDB scheme
1 year, 9 months ago

Ex-Goldman Sachs banker is sentenced to 10 years for 1MDB scheme

Daily Mail  

A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian development fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film 'The Wolf of Wall Street.' Roger Ng, center, a former Goldman Sachs banker, leaves federal court with his lawyers …

Jailed Malaysian ex-PM Najib Razak returns to court for 1MDB trial
2 years, 4 months ago

Jailed Malaysian ex-PM Najib Razak returns to court for 1MDB trial

The Hindu  

Jailed Malaysian ex-Prime Minister Najib Razak returned to court on August 25 for a second corruption trial over the pilfering of the 1Malaysia Development Berhad state fund, two days after he began a 12-year prison term for graft. Najib, 69, became Malaysia's first leader to be imprisoned on Tuesday after the country's top court rejected his final appeal in his …

Jailed Malaysian ex-PM Najib returns to court for 1MDB trial
2 years, 4 months ago

Jailed Malaysian ex-PM Najib returns to court for 1MDB trial

Associated Press  

KUALA LUMPUR, Malaysia — Jailed Malaysian ex-Prime Minister Najib Razak returned to court Thursday for a second corruption trial over the pilfering of the 1MDB state fund, two days after he began a 12-year prison term for graft. Najib, 69, was imprisoned Tuesday after the country’s top court rejected his final appeal in his first graft case linked to the …

Former Goldman Sachs banker convicted of bribery, money laundering and conspiracy charges in 1MDB case
2 years, 8 months ago

Former Goldman Sachs banker convicted of bribery, money laundering and conspiracy charges in 1MDB case

ABC  

Former Goldman Sachs banker Roger Ng has been convicted by a US jury of corruption charges related to his role in helping embezzle hundreds of millions of dollars from Malaysia's 1MDB development fund. Key points: Prosectutors said Ng helped his former boss embezzle money from the fund, launder the proceeds and bribe officials to win business for Goldman Ng is …

Ex-Goldman Sachs banker convicted in plot to loot 1MDB fund
2 years, 8 months ago

Ex-Goldman Sachs banker convicted in plot to loot 1MDB fund

Associated Press  

NEW YORK — A former Goldman Sachs banker was convicted Friday of bribery and other corruption charges accusing him of participating in a $4.5 billion scheme to ransack the Malaysian state investment fund known as 1MDB. “It is deeply unfair to everyone else who plays by the rules.” Ng’s defense attorneys have described the looting of 1MDB state investment fund …

Ex-Goldman Sachs banker Roger Ng is convicted in plot to loot $4.5 billion from 1MDB fund
2 years, 8 months ago

Ex-Goldman Sachs banker Roger Ng is convicted in plot to loot $4.5 billion from 1MDB fund

Daily Mail  

A former Goldman Sachs banker was convicted on Friday on bribery and other corruption charges accusing him of participating in a $4.5 billion scheme to ransack the Malaysian state investment fund known as 1MDB. Former Goldman Sachs banker Roger Ng was found guilty of bribery and other corruption charges over a scheme to loot $4.5 billion form the 1MDB fund …

Guilty: Roger Ng faces up to 30 years in prison for role in 1MDB
2 years, 8 months ago

Guilty: Roger Ng faces up to 30 years in prison for role in 1MDB

Al Jazeera  

Roger Ng, the only Goldman Sachs banker to go to trial over the global 1MDB scandal, was found guilty for his role in the epic looting of the Malaysian fund. Biggest Catch Leissner, once Goldman’s Southeast Asia chairman, was the highest-ranking Goldman banker to plead guilty to the scheme to steal from 1MDB in return for more than $60 million …

Ex-Goldman Sachs banker convicted in plot to loot 1MDB fund
2 years, 8 months ago

Ex-Goldman Sachs banker convicted in plot to loot 1MDB fund

LA Times  

Former Goldman Sachs executive Roger Ng, left, with attorney Marc Agnifilo in May 2019. A former Goldman Sachs banker was convicted Friday of bribery and other corruption charges accusing him of participating in a $4.5-billion scheme to ransack the Malaysian state investment fund known as 1MDB. “It is deeply unfair to everyone else who plays by the rules.” Ng’s defense …

Corruption trial opens for ex-Goldman banker in 1MDB scandal
2 years, 10 months ago

Corruption trial opens for ex-Goldman banker in 1MDB scandal

Associated Press  

NEW YORK — Federal prosecutors told a jury Monday that a former Goldman Sachs executive pocketed $35 million in “secret kickbacks” in the multibillion-dollar ransacking of a Malaysian state investment fund, accusing the banker of playing a “crucial” role in the massive money laundering and bribery scheme. “He saw an opportunity to make millions of dollars by cheating,” Wible said, …

Malaysia's 1MDB sues JP Morgan and Deutsche Bank over $23bn loss
3 years, 7 months ago

Malaysia's 1MDB sues JP Morgan and Deutsche Bank over $23bn loss

The Telegraph  

Deutsche Bank, JP Morgan and Coutts are among a raft of companies and individuals being sued by the Malaysian government as it fights to recover $23bn from the looting of its state fund 1MDB. Malaysia's finance ministry said: “1MDB and SRC contend that these entities and/or individuals have been unjustly enriched by wrongfully receiving monies from 1MDB or SRC." Najib …

Malaysia’s Najib appeals 1MDB-linked corruption conviction
3 years, 8 months ago

Malaysia’s Najib appeals 1MDB-linked corruption conviction

Al Jazeera  

During appeal, defence lawyers will argue Najib Razak had no knowledge of the transactions into his accounts. A Malaysian court has begun hearing a bid by former Prime Minister Najib Razak to overturn his conviction on corruption charges, in a case linked to the looting of the 1MDB state investment fund. The conviction made Najib the first Malaysian leader to …

Goldman Sachs subsidiary pleads to US charges in 1MDB probe
4 years, 2 months ago

Goldman Sachs subsidiary pleads to US charges in 1MDB probe

Associated Press  

WASHINGTON — A subsidiary of Goldman Sachs pleaded guilty on Thursday and agreed to pay more than $2.9 billion in a foreign corruption probe tied to the Malaysian 1MDB sovereign wealth fund, which was looted of billions of dollars in a corruption scandal. Malaysian and U.S. prosecutors had alleged that bond sales organized by Goldman Sachs provided one of the …

US will fine Goldman Sachs $2.8 BILLION in 1MDB corruption scandal
4 years, 2 months ago

US will fine Goldman Sachs $2.8 BILLION in 1MDB corruption scandal

Daily Mail  

Goldman Sachs has reportedly reached an agreement with the U.S. Department of Justice to pay $2.8 billion in fines for the bank's role in Malaysia's 1MDB scandal. In total, Goldman Sachs will have to pay out more than $5 billion in fines in the scandal, in which former Malaysian Prime Minister Najib Razak and his cronies looted billions from 1Malaysia …

Malaysia Drops Criminal Charges Against Goldman Sachs Over 1MDB Bond Sales: Report
4 years, 3 months ago

Malaysia Drops Criminal Charges Against Goldman Sachs Over 1MDB Bond Sales: Report

News 18  

KUALA LUMPUR: Malaysian prosecutors on Friday withdrew criminal charges against three Goldman Sachs units accused of misleading investors over $6.5 billion in bond sales they helped organise for a state fund, the Bernama state news agency reported. The move comes after Goldman Sachs agreed to pay $3.9 billion to Malaysia to settle a probe into its alleged role in the …

Malaysia drops criminal charges against Goldman in 1MDB probe
4 years, 3 months ago

Malaysia drops criminal charges against Goldman in 1MDB probe

Al Jazeera  

US bank had agreed to pay Malaysia $3.9bn to settle probe into its alleged role in scandal involving state fund 1MDB. Malaysian prosecutors have withdrawn criminal charges against three Goldman Sachs units accused of misleading investors over $6.5bn in bond sales they helped organise for a state fund, the Bernama state news agency has reported. Friday’s move comes after the …

Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB
4 years, 5 months ago

Goldman Sachs and Malaysia reach $3.9B settlement over 1MDB

Associated Press  

KUALA LUMPUR, Malaysia — Malaysia’s government said Friday it has reached a $3.9 billion settlement with Goldman Sachs in exchange for dropping criminal charges against the bank over bond sales that raised money for the 1MDB sovereign wealth fund, which was looted of billions of dollars in a massive scandal. Malaysian and U.S. prosecutors had alleged that the bond sales …

Goldman Sachs to pay Malaysia $3.9bn over 1MDB scam
4 years, 5 months ago

Goldman Sachs to pay Malaysia $3.9bn over 1MDB scam

Daily Mail  

Malaysia has reached a $3.9 billion settlement with Goldman Sachs over the Wall Street titan's role in the 1MDB scandal in exchange for the country ending all criminal proceedings against the bank. Billions of dollars were looted from sovereign wealth fund 1Malaysia Development Berhad in a fraud that allegedly involved former prime minister Najib Razak and his associates. Malaysia has …

Goldman Sachs in $3.9bn settlement with Malaysia over 1MDB
4 years, 5 months ago

Goldman Sachs in $3.9bn settlement with Malaysia over 1MDB

Al Jazeera  

Settlement comes days before verdict in former Prime Minister Najib Razak’s first trial linked to the major scandal. Malaysia has reached a $3.9bn settlement with Goldman Sachs over losses suffered from a multibillion-dollar scandal at the country’s 1MDB investment fund. Billions of dollars were looted from 1Malaysia Development Berhad or 1MDB, a now-defunct investment fund ostensibly set up to accelerate …

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