1Malaysia Development Berhad - updates

Rappler's latest stories on 1Malaysia Development Berhad

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Fugitive Malaysian 1MDB financier offered asylum – spokesperson

Nov 01, 2019 - 9:37 PM

The whereabouts of Low Taek Jho, who has been charged over the scandal in the US and Malaysia, are a mystery but his representatives now say he has been offered asylum, without naming a country

1MDB SAGA. A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. File photo by Manan Vatsayana/AFP

U.S. agrees $700 million settlement including luxury hotel, jet over 1MDB

Oct 31, 2019 - 11:02 AM

Jho Low relinquishes the assets under the largest ever US civil forfeiture, intended to recover cash allegedly stolen in the 1MDB scandal which helped topple Malaysia's corruption-plagued former regime.

SETTLES. Jho Low attends the 2014 Social Good Summit at 92Y on September 21, 2014 in New York City. Taylor Hill/Getty Images/AFP Taylor Hill / GETTY IMAGES NORTH AMERICA / AFP

Malaysia ex-PM Najib's major 1MDB trial postponed

Aug 19, 2019 - 12:04 PM

It is the second trial linked to state fund 1Malaysia Development Berhad that Najib Razak is due to face since his long-ruling coalition suffered a shock election loss last year.

NAJIB RAZAK. Malaysia's former prime minister Najib Razak arrives at the Kuala Lumpur High Court for his trial over 1MDB corruption allegations in Kuala Lumpur on August 19, 2019. Photo by Mohd Rasfan/AFP

Malaysia files charges against 17 current, ex-Goldman execs over 1MDB

Aug 09, 2019 - 2:38 PM

Billions of dollars are looted from the country's sovereign wealth fund 1Malaysia Development Berhad in a globe-spanning fraud

KUALA LUMPUR - JULY 12: Board showing 1MDB on July 12, 2015 at KL Malaysia. The scandal on 1MDB involved money transferred to Malaysia Prime Minister's personal bank account.  F By Faiz Zaki

Malaysia sets up task force to probe 1MDB scandal

May 21, 2018 - 3:47 PM

The special task force will be charged with seizing back assets and pursuing legal action against those suspected of breaking the law in relation to the fund

1MDB TASK FORCE. This picture taken on December 6, 2016 shows Malaysia's former prime minister Mahathir Mohamad speaking during an interview with AFP at his office in Putrajaya. File photo by Manan Vatsyayana/ AFP

Swiss charged in Singapore over Malaysia's 1MDB saga

Jan 05, 2017 - 1:15 PM

Jens Fred Sturzenegger 42 who headed the Singapore branch of Swiss lender Falcon Private Bank is slapped with 6 charges for allegedly failing to report suspicious transactions totaling 1 7 billion in March 2013

A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Singapore jails third banker in Malaysian 1MDB scandal

Dec 22, 2016 - 8:14 PM

Singaporean Yeo Jiawei a former wealth manager with Swiss bank BSI is sentenced to 30 months for witness tampering and obstructing the city state s 1MDB linked investigations

A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015.  Manan Vatsyayana/AFP

Malaysia's Najib warns protesters over violence ahead of demonstration

Nov 17, 2016 - 2:36 PM

Leading NGO and civil society alliance Bersih called the rally in the capital to demand the scandal tainted prime minister s resignation on November 19

A child (C) stands behind a placard reading 'Please Step Down Najib' as members of civil-society alliance Bersih posing for pictures ahead their demonstration in the capital Kuala Lumpur to demand Najib's resignation in Malaysia's northern town of Ipoh, November 11, 2016. Mohd Rasfan/AFP

Singapore shuts down second bank linked to 1MDB

Oct 11, 2016 - 11:45 AM

Monetary Authority of Singapore MAS orders Falcon Bank to cease operations in the city state because of serious failures in anti money laundering AML controls and improper conduct by senior management

The logo of the Monetary Authority of Singapore is seen on its main building in Singapore on May 24, 2016. Roslan Rahman/AFP

Malaysia's 1MDB scandal involved 'Ponzi scheme' – Swiss prosecutor

Oct 05, 2016 - 7:14 PM

The Swiss attorney general opened an investigation into the troubled 1Malaysia Development Berhad 1MDB in August 2015 following allegations that some of the money allegedly stolen from the fund had passed through Swiss banks

A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

It's official: Malaysia PM outed as key scandal figure

Sep 02, 2016 - 11:54 AM

The admission confirms widespread suspicions that Najib was Malaysian Official 1 mentioned in a Justice Department lawsuit filed in July

NAJIB RAZAK. This file photo taken on July 31, 2016 shows Malaysia's Prime Minister Najib Razak smiling as he leaves after the Warriors' Day Celebration in Putrajaya, outside Kuala Lumpur. MOHD RASFAN / AFP

US subpoenas Goldman Sachs over 1MDB Malaysia scandal

Jul 30, 2016 - 5:14 PM

US regulators want to see if Goldman Sachs followed US banking laws that requires banks and financial institutions to report suspicious transactions

1MDB. A Malaysian woman walks past a billboard with the 1Malaysia Development Berhad (1MDB) logo in Kuala Lumpur, September 22, 2015. File photo by Manan Vatsyayana/AFP

Singapore adds to US pressure on Malaysian fund 1MDB

Jul 21, 2016 - 2:26 PM

UPDATED The back to back announcements are the clearest and most damning steps yet taken in more than a year of Malaysian tumult over 1MDB

The logo of the Monetary Authority of Singapore is seen on its main building in Singapore on May 24, 2016. Roslan Rahman/AFP

US goes after $1B in assets linked to Malaysia fund

Jul 20, 2016 - 9:44 PM

UPDATED The lawsuits put renewed pressure on Prime Minister Najib Razak with court documents making thinly veiled references to him as a beneficiary in the alleged theft of more than 3 5 billion by his stepson a family friend and various officials

1MDB. A Malaysian woman walks past a billboard with the 1Malaysia Development Berhad (1MDB) logo in Kuala Lumpur, September 22, 2015. File photo by Manan Vatsyayana/AFP

Malaysian PM reshuffles Cabinet amid speculation of snap poll

Jun 27, 2016 - 7:10 PM

Analysts say Prime Minister Najib Razak s move could be a sign that a snap election might come in 2017

epa05393894 Malaysian Prime Minister Najib Razak speaks during a press conference at the prime minister's office in Putrajaya, Malaysia, 27 June 2016. Malaysian Prime Minister Najib Razak reshuffles his lineup cabinet for the third time after the 13th General Election on 05 May 2013. EPA/AHMAD YUSNI

A year after 1MDB: Malaysian premier takes hardline turn

Jun 27, 2016 - 10:55 AM

The political survival steps Najib has taken are stoking fears for multi ethnic Malaysia s already fragile democracy and sectarian relations

Malaysia's Prime Minister Najib Razak speaks during the launch of the 4th generation Perdana sedan car, Malaysian car manufacturer's latest generations in Putrajaya on June 14, 2016. Mohd Rasfan/AFP

Malaysia's troubled 1MDB fund defaults on bonds

Apr 26, 2016 - 6:35 PM

1MDB s house of cards has all but collapsed says opposition lawmaker Tony Pua

(FILES) This file photo taken on September 22, 2015 shows a Malaysian woman walking past a billboard with the 1 Malaysia Development Berhad (1MDB) logo at the funds flagship Tun Razak Exchange construction site in Kuala Lumpur.  Troubled Malaysian state fund 1MDB said it had defaulted on $1.75 billion in company bonds after missing an interest payment, heightening fears of a market-rattling bailout of the scandal-hit company. / AFP PHOTO / MANAN VATSYAYANA

Graft denials come under strain in Malaysia fund scandal

Apr 19, 2016 - 4:45 PM

A string of recent revelations surrounding Najib Razak and 1MDB is placing corruption denials under growing strain

The 1 Malaysia Development Berhad (1MDB) logo is seen through the window of a car in Kuala Lumpur on March 14, 2016. Mohd Rasfan/AFP

Malaysia's 1MDB defaults on $1B loan, Abu Dhabi fund says

Apr 19, 2016 - 7:34 AM

The announcement made in a filing to the London Stock Exchange by Abu Dhabi based International Petroleum Investment Co IPIC raises the specter of Malaysian market turmoil if 1MDB is unable to dig out from under its huge debts

The 1 Malaysia Development Berhad (1MDB) logo is seen on a billboard at the funds flagship Tun Razak Exchange under-development site in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Malaysia inquiry cites murky fund payments, urges probe

Apr 07, 2016 - 2:34 PM

The report by the parliament s Public Accounts Committee PAC marks the first time an official Malaysian probe has suggested misconduct or recommended action over the scandal

A Malaysian woman walks past a billboard with the 1 Malaysia Development Berhad (1MDB) logo at the funds flagship Tun Razak Exchange construction site in Kuala Lumpur on September 22, 2015. Manan Vatsyayana/AFP

Malaysia's 1MDB financed 'Wolf of Wall Street' – report

Apr 02, 2016 - 7:58 PM

The Wall Street Journal reports that Red Granite Pictures came up with the money needed to turn the film into reality The small production company s co chairman is identified as Malaysian Prime Minister Najib Razak s stepson

EMBATTLED. The 1 Malaysia Development Berhad (1MDB) logo is seen on a billboard at the funds flagship Tun Razak Exchange under-development site in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Singapore seeks bank details on Malaysian funds probe

Apr 01, 2016 - 5:38 PM

Malaysia has been rocked by allegations that perhaps billions of dollars had gone missing from overseas transactions involving 1MDB which is linked to Malaysian Prime Minister Najib Razak

SCANDAL. A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. Photo by Manan Vatsyayana/AFP

Luxembourg launches money laundering probe in Najib fund scandal

Apr 01, 2016 - 6:41 AM

The scandal surrounding Malaysian Prime Minister Najib Razak deepens further as another country begins an investigation

epa05237672 Malaysia's Prime Minister Najib Razak during a speech during the launch of a Children Austism Centre in Kuala Lumpur, Malaysia, 31 March 2016. Najib Razak, 62, faced criticisms of alleged corruption and mismanagement of hundreds of millions of dollars of debts of a state investment fund, 1Malaysia Development Berhad (1MDB) he formed in 2009. EPA/STR

Malaysia's Najib spent 'millions' on luxury goods, election payouts

Mar 31, 2016 - 6:25 PM

Part of the money was reportedly spent at a Chanel store in Honolulu in December 2013

epa04454338 Malaysian Prime Minister Najib Razak (L) waves accompanied by his wife Rosmah Mansor (R) attend the inauguration of Indonesia's seventh president, Joko Widodo, at the Parliament building in Jakarta, Indonesia, 20 October 2014. Indonesia's newly inaugurated President Joko Widodo urges Indonesians to unite and work together. Widodo said his government aimed to make Indonesia 'politically and economically independent' but acknowledged tough tasks ahead. EPA/BAGUS INDAHONO

Opponents of Malaysian PM step up drive to oust him

Mar 27, 2016 - 10:20 PM

A coalition led by former premier Mahathir Mohamad is seeking one million signatures for a petition demanding Najib Razak s ouster

Malaysia's former Prime Minister Mahathir Mohamad (C) stands for the national anthem during a rally in Shah Alam, outside Kuala Lumpur on March 27, 2016.  Leaders from across Malaysia's political spectrum said on March 27 they plan to present a petition to the country's Islamic royalty seeking the removal of scandal-plagued Prime Minister Najib Razak over a corruption crisis. / AFP / MOHD RASFAN

Malaysia's Mahathir sues Prime Minister Najib

Mar 23, 2016 - 9:10 PM

Former leader Mahathir Mohamad accuses current premier Najib Razak of corruption and abuse of power

epa05226764 (FILE A file photograph showing Malaysian Prime Minister, Najib Razak as he prepare to deliver his speech during an event in Kuala Lumpur, Malaysia, 14 March 2016. Media reports on 23 March 2016 state that Mahathir Mohamad is to sue Malaysian Prime Minister Najib Razak for alleged corruption in public office. EPA/AHMAD YUSNI

Malaysia state leader quits post amid PM scandals

Feb 03, 2016 - 12:45 PM

Ruling party politician Mukhriz Mahathir son of former longtime premier Mahathir Mohamad resigns as head of Kedah state following an internal party push to oust him

In this file photo, Mukhriz Tun Mahathir, a candidate of youth Chief of Malaysia's ruling party United Malays National Organisation (UMNO) youth wing, sings national songs at a gathering in Kuala Lumpur on March 25, 2009. Saeed Khan/AFP

Foreign governments raise pressure on Malaysia over scandals

Feb 02, 2016 - 2:46 PM

Foreign authorities investigating suspicious global fund flows are making clear the 1MDB affair is far from over and that the net may be tightening

A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Singapore seizes bank accounts linked to 1MDB probe

Feb 01, 2016 - 9:15 PM

Singapore government: Singapore does not tolerate the use of its financial system as a refuge or conduit for illicit funds

The 1 Malaysia Development Berhad (1MDB) logo is seen on a billboard at the funds flagship Tun Razak Exchange under-development site in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Malaysia pledges to help Swiss probe as pressure on PM grows

Jan 30, 2016 - 8:12 PM

Swiss prosecutors believe around 4 billion was stolen from Malaysian state owned companies including a firm with links to Prime Minister Najib Razak

EMBATTLED. A file picture dated October 21, 2015 shows Malaysian Prime Minister Najib Razak speaking during the Global Transformation Forum at KL Convention Center in Kuala Lumpur, Malaysia. Fazry Ismail/EPA

Outrage and new questions after Malaysia PM cleared in scandal

Jan 27, 2016 - 5:47 PM

Najib s Facebook page and other sites with derogatory comments as parody images circulate including one image of Najib holding up the middle finger of one hand while holding a wad of cash in the other

NAJIB RAZAK. Malaysia's Prime Minister Najib Razak (C) reacts as he leaving after attending a parliament session in Kuala Lumpur, Malaysia, January 26, 2016. Photo by EPA

Malaysia clears PM in scandal, says Saudis provided 'donation'

Jan 26, 2016 - 12:01 PM

3rd UPDATE Attorney General Mohamed Apandi Ali also says he is satisfied that no criminal offense had been committed

In this file photo, Malaysia's Prime minister Najib Razak (C) leaves after a parliament session in Kuala Lumpur on October 19, 2015. Manan Vatsyayana/AFP

Malaysia PM vows 'no surrender' over funding scandal

Dec 10, 2015 - 1:01 PM

This week s annual gathering of the party which has ruled Malaysia for more than a half century has been the most closely watched in years for signs of any revolt against Najib

NO SURRENDER. United Malays National Organisation's (UMNO) party president Najib Razak (R) with his deputy Muhyiddin Yassin (L) look on during the opening ceremony of Malaysia's ruling party UMNO 69th General Assembly in Kuala Lumpur, Malaysia, 10 December 2015. Photo by Zafry Ismail/EPA

Malaysia ruling party to meet with PM under fire

Dec 08, 2015 - 3:55 PM

Najib Razak faces controversy over nearly 700 million transferred into his personal bank accounts

NAJIB RAZAK. Malaysia Prime Minister Najib Razak during the plenary session of the ASEAN summit in Kuala Lumpur, Malaysia, November 21, 2015. File Photo by Ahmad Yusni/EPA

Malaysian whistle-blower, lawyer charged with 'sabotage' – reports

Oct 12, 2015 - 3:03 PM

Khairuddin Abu Hassan and Matthias Chang are charged with attempting to sabotage Malaysia s banking and financial services sector The Star and the New Straits Times report

FIGHTING CORRUPTION. Former Malaysian Prime Minister Mahathir Mohamad (C-L), former Deputy Prime Minister Muhiyiddin Yassin (2-L) and United Malays National Organisation (UMNO) vice-president Shafie Afdal (L) at a press conference on October 12, 2015, accusing the federal government of abusing the law after Khairuddin Abu Hassan and Matthias Chang were charged at the Kuala Lumpur High Court. Photo by EPA.

Malaysian sultans join chorus of concern over PM graft scandal

Oct 07, 2015 - 12:22 PM

The statement issued late Tuesday October 6 ahead of a two day annual royal conference adds to mounting pressure on Najib

In this file photo, a motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. Manan Vatsyayana/AFP

Malaysians swarm capital to demand reform, PM's ouster

Aug 29, 2015 - 5:31 PM

Kuala Lumpur is jammed by massive crowds most of them in the banned yellow t shirts of Malaysia s reform movement amid a carnival atmosphere of political speeches musical performances deafening vuvuzelas and selfie taking

Protestors gather during a demonstration demanding Prime Minister Najib Razak’s resignation and electoral reforms in Kuala Lumpur on August 29, 2015. Photo by Mohd Rasfan/AFP

Malaysia to block websites 'promoting' rally against Najib

Aug 27, 2015 - 5:03 PM

Bersih Malaysia s leading alliance of independent NGOs rights groups and reform advocates vows to bring out tens of thousands of people in the capital Kuala Lumpur and two other cities on Saturday and Sunday

In this file photo, Malaysia's Prime Minister Najib Razak speaks to members of the media during a news conference at Kuala Lumpur, Malaysia, May 11, 2015. Fazry Ismail/EPA

Malaysian crackdown coming on dissidents?

Jul 23, 2015 - 8:56 AM

Opposition leaders fear another round of arrests like the 1987 Operasi Lalang could be on the cards

BUILDING UP. A worker seen near the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur, Malaysia, July 5, 2015. Fazry Ismail/EPA

Malaysia PM claims party's support despite mounting scandal

May 11, 2015 - 8:56 PM

Pressure on Najib Razak mounts over allegations of fraud and embezzlement at a debt ridden state owned investment company that he launched and still oversees

AIRLINE TRACKING. Malaysian Prime Minister Najib Abdul Razak presents a keynote address at The National Transformation Programme (NTP) Annual Report 2013 in Kuala Lumpur, Malaysia, 12 May 2014. Shamshahrin Shamsudin/EPA

Malaysia PM defends himself against mounting criticism

Apr 10, 2015 - 9:03 AM

Najib is under fire over a state owned investment company he launched now under 11 billion of debt and allegations of fraud and huge sums of missing money

NAJIB RAZAK. Malaysian Prime Minister Najib Razak speaks during a 2015 Budget review in Putrajaya, Malaysia, 20 January 2015. Photo by Fazry Ismail/EPA

Mahathir hits Malaysian PM over scandals

Apr 02, 2015 - 3:51 PM

The influential ex Prime Minister demands explanations from current PM Najib Razak in two highly sensitive scandals and warns the ruling party will lose power with Najib at the helm

INFLUENTIAL. Former Malaysian prime minister Mahathir Mohamad. File photo by Kimimasa Mayama/EPA

Malaysia’s investment fund disaster

Dec 10, 2014 - 11:04 AM

A champagne swilling youth leads Malaysia s PM into a bog of debt and scandal

Malaysian Prime Minister Najib Razak (R) and Chairman of 1Malaysia Development Berhad (1MDB) Lodin Wok Kamaruddin (L) during the launch of the Kuala Lumpur International Financial District (KLIFD), 30 July 2012. Shamshahriin Shamsudin/EPA