Goldman Sachs is settling with Malaysia, whose sovereign-wealth fund was looted in the 1Malaysia Development Berhad scandal, the Malaysian sovereign wealth fund better known as 1MDB, to the tune of more than $2.5 billion. It’s the latest episode in the long-running saga of 1MDB, the fugitive financier Jho Low, and the New York City-based multinational… Read More >>
$96M of Luxury Loot Sought via 1MDB Scandal
The United States Justice Department (DoJ) reports that it has filed civil forfeiture complaints aimed at the “recovery of approximately $96 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund.” Those assets include “luxury real estate in Paris, artwork by Claude… Read More >>
Goldman Sachs to Fight Malaysia’s Criminal Charges
Goldman Sachs is vowing to fight new charges stemming from a scandal in Malaysia involving the 1 Malaysia Development Berhad (1MDB) fund that Malaysian government officials were hoping to use toward the development of infrastructure projects. The sprawling case involves authorities beyond the Malaysian government as the U.S. Department of Justice early last month charged… Read More >>
