Malaysia Political Scene

[loveikan]

The noose on Najib will be more tightened if the US attorneys can get their hands on Najib' stepson Reza, Najib's confidant, Abu Dhabi govt rep Khadem and Malaysian Financier, Jho.

[globalcookie]

US AG and many other agencies there have started the investigation and Aziz (Najib's step son) name is mentioned. The grand finale has finally started.

[globalcookie]

1MDB: US moves to seize $1.3b in assets of Malaysian fund including Wolf of Wall Street rights
Updated about 6 hours ago


In a stunning blow to Malaysia's political establishment, the US Justice Department says it is moving to seize more than $US1 billion ($1.34 billion) in assets allegedly tied to corruption at 1MDB, including the rights to Hollywood film The Wolf of Wall Street.

Key points:

Lawsuits appear to implicate Malaysian PM Najib Razak
Largest ever case brought by US Justice Department's Kleptocracy Asset Recovery Initiative
US Attorney-General issues warning to corrupt officials around the world
None of the civil lawsuits that were filed in California name Malaysian Prime Minister Najib Razak, who oversaw the state-owned investment fund, but they contain details that appear to directly implicate him.

They include allegations that $US681 million ($910 million) from a 2013 bond sale by 1MDB was transferred to the account of "Malaysian Official 1", who is described in the lawsuits as a high-ranking official in the Malaysian Government who also held a position of authority with 1MDB.

"The Department of Justice will not allow the American financial system to be used as a conduit for corruption," US Attorney-General Loretta Lynch told a news conference in announcing the civil suit.

"Corrupt officials around the world should make no mistake that we will be relentless in our efforts to deny them the proceeds of their crimes."

Mr Najib was investigated in Malaysia after revelations that $US681 million was transferred to his personal bank accounts.

Malaysia's Attorney-General said in January the Prime Minister had not committed any crime, and that the money in his bank account was a political donation from the Saudi royal family.

Mr Najib has consistently denied any wrongdoing.

The US filing has re-energised calls in Malaysia for Mr Najib's removal and prosecution.

"In light of the latest development, the prime minister can no longer hide behind a wall of silence and must instead address the nation on this matter," said Azmin Ali, a top Malaysian opposition leader.

Watch Four Corners: State of Fear
Mr Najib's spokesman responded to the US action by stressing that Malaysian authorities had found no wrongdoing, while pledging to cooperate with any international probes.

"As the Prime Minister has always maintained, if any wrongdoing is proven, the law will be enforced without exception," the spokesman said.

1MDB released a brief statement stressing that it was not a party to the US suit, but offered no comment on the alleged embezzlement of its funds.

Leonardo DiCaprio in Wolf of Wall Street
PHOTO: Assets and rights to the 2013 film Wolf of Wall Street will be seized. (IMDb)
Najib's stepson 'relevant individual'

1MDB, which Mr Najib founded in 2009 shortly after he came to office, is being investigated for money-laundering in at least six countries, including the United States, Singapore and Switzerland.

Malaysia's Prime Minister Najib Razak speaks at de-radicalisation conference.
PHOTO: Najib Razak has consistently denied any wrongdoing with the 1MDB state fund. (Reuters: Olivia Harris)
It is the largest set of cases ever brought by the Justice Department's Kleptocracy Asset Recovery Initiative, which seeks the forfeiture of the proceeds of foreign corruption.

The lawsuits name Mr Najib's stepson Riza Aziz as a "relevant individual".

Mr Aziz is the founder of Red Granite Pictures, which produced the Oscar-nominated film The Wolf of Wall Street.

Red Granite said on Wednesday that none of the funding it received was illegitimate and nothing the company or Mr Aziz did was wrong.

But Leslie Caldwell, assistant US Attorney-General, said money was diverted from 1MDB bond offerings through a Swiss bank account and shell companies around the world to Red Granite.

"Of course, neither 1MDB nor the Malaysian people ever saw a penny of profit from that film," Caldwell told the briefing.
The movie made $540 million at the box office worldwide.

Ms Caldwell said that all assets and rights to the movie would be seized as they stem from laundered money.

Hopes money can be returned to Malaysians

The US lawsuits seek to seize assets "involved in and traceable to an international conspiracy to launder money misappropriated from 1MDB".

The alleged offences were committed over a four-year period and involved multiple individuals, including Malaysian officials and their associates, who conspired to fraudulently divert billions of dollars from 1MDB, the lawsuits said.

Money was stolen from the fund, moved through shell companies and hidden in the United States in purchases of high-end property and luxury items, prosecutors said.

The people and institutions named in the complaint have not been charged with crimes, but the Government wants to seize assets, among them luxury properties in New York and California, Monet and Van Gogh paintings and a Bombardier jet.

Media player: "Space" to play, "M" to mute, "left" and "right" to seek.
VIDEO: Reporter Linton Besser questions Malaysian PM Najib Razak (ABC News)
The lawsuits also named Malaysian financier Low Taek Jho, better known as Jho Low, and Abu Dhabi government officials Khadem Abdulla Al-Qubaisi and Mohammed Ahmed Badawy Al-Husseiny.

Mr Al Qubaisi and Mr Al-Husseiny are former officials at a sovereign fund in Abu Dhabi that participated in deals with 1MDB.

Sperately, Swiss prosecutors said on Wednesday they were helping their counterparts in the US in an investigation into cash allegedly stolen from 1MDB.

"In the frame of its current criminal proceeding, the OAG has also sent mutual legal assistance requests to different countries, including the USA," the Swiss Office of the Attorney General (OAG) said in a statement.

The Justice Department said it will seek to return recovered funds to Malaysia.

"The Malaysian people were defrauded on an enormous scale," FBI Deputy Director Andrew McCabe said at the briefing in Washington.

[globalcookie]

1MDB notes a press conference led by the US Attorney General today relating to a civil court action filed by the government of the United States of America.

1MDB highlights that it is not a party to the civil suit, does not have any assets in the United States of America, nor has it benefited from the various transactions described in the civil suit.

Furthermore, 1MDB has not been contacted by the US Department of Justice or any other foreign agency in relation to their investigations.

As previously stated, 1MDB will fully cooperate with any foreign lawful authority, subject to international protocols governing such matters and the advice of the relevant domestic lawful authorities.

http://www.1mdb.com.my/press-release...ess-conference

[loveikan]

Pop corn ready......Watching the next episode.
https://m.malaysiakini.com/news/349281

[foxwagon]

The KL-SG high speed rail MOU quickly signed liao...

[loveikan]

Why a shocker??? Thought it is already a known fact!!!!

long article. Click onto the link to read.

WSJ SHOCKER: CONFIRMED - NAJIB IS MALAYSIA OFFICIAL 1, OBAMA WON'T SHIELD HIM OR MALAYSIA FROM LEGAL ACTION

Full article:*http://www.malaysia-chronicle.com/in...ixzz4FKR4KqvG*
Follow us:*@MsiaChronicle on Twitter
http://www.malaysia-chronicle.com/in...#axzz4FKQWCab5

[loveikan]

Hahahaha. Obama's photo posted in FB said it all.

https://m.facebook.com/OtaiBERSIH/ph...pe=3&source=48

[byfun]

This is a civil suit, which mean likely initiated by someone who maybe politically motivated to bring Najib down.

The first to came to mind is Mahathir... he has the money to do it. Don't forget his son whom he wanna groom as PM is kicked out by UMNO.

[loveikan]

Talking abt suit.

Najib and his gang til date still hv not sue anyone esp WSJ.....make them the biggest clown in the world for YR 015 and 2016......undisputed.....and maybe 2017 too if he manages to survive the onslaughts ahead......