The Justice Department announced today the filing of civil forfeiture complaints seeking the forfeiture and recovery of approximately $38 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund.  Combined with civil forfeiture complaints filed in July 2016 seeking more than $1 […]

The US Department of Justice (DOJ) has detailed in its lawsuit what it described as the “three principal phases” of money-laundering through the troubled Malaysian state fund 1MDB. The first phase is called the ‘Good Star phase’, the second phase is the ‘Aabar BVI phase’ and the third phase is the ‘Tanore phase’. Under the […]

US investigators are trying to determine whether Goldman Sachs Group Inc. broke the law when it didn’t sound an alarm about a suspicious transaction at Malaysia state investor 1MDB, the Wall Street Journal reported on Monday (June 6), citing people familiar with the investigation. The report said  the probe relate to US$3 billion ($4.07 billion) […]

While Malaysia’s premier faces tough questions over the origin of hundreds of millions of dollars transferred to his bank accounts, the country has tentatively received good grades for its anti-money-laundering efforts from a team of international experts, documents reviewed by Reuters show. A draft report by the Paris-based Financial Action Task Force (FATF), a global […]

Swiss authorities have frozen millions of dollars linked to a state-run Malaysia investment fund engulfed by the biggest financial scandal in the country’s history. Swiss authorities probing alleged corruption at Malaysia’s state investment fund have frozen funds worth tens of millions of dollars.  The Office of the Attorney General has frozen the money held in […]