Translate
12 August 2017
The U.S. is moving forward with a criminal investigation into money stolen from a Malaysian state investment fund
Stolen 1MDB Funds Are Focus of U.S. Criminal InvestigationBy
Edvard Pettersson
August 11, 2017, 7:15 AM GMT+8 August 11, 2017, 10:50 AM GMT+8
Justice Department asks judge to put forfeiture cases on hold
Billions of dollars were allegedly looted from Malaysian fund
1MDB Missed $603M Payment to IPIC
The U.S. is moving forward with a criminal investigation into money stolen from a Malaysian state investment fund that allegedly was used to acquire about $1.7 billion in real estate, art, jewelry and other assets.
Court filings by the Justice Department Thursday show the U.S. is escalating its probe in a worldwide effort to track how much of the money that was raised by 1Malaysia Development Bhd. was used to pay for luxury real estate in New York, London and Beverly Hills, film productions, private jets, yachts and more.
Justice Department officials asked a judge in Los Angeles to put on hold civil forfeiture lawsuits against assets acquired by Malaysian financier Low Taek Jho, also known as Jho Low, and others involved with 1MDB because pursuing these cases may hamper the criminal investigation.
The U.S. investigation is part of a global effort to track how much of the $6 billion that 1MDB raised for development projects was allegedly embezzled or involved in money laundering. Switzerland, Singapore and Luxembourg are among the countries also investigating the roles played by banks and individuals.
Separately, 1MDB paid $350 million to an Abu Dhabi sovereign wealth fund on Thursday ahead of an Aug. 12 deadline, the Malaysian Insight reported, citing bankers it didn’t identify. The payment is part of an arbitration settlement agreement with International Petroleum Investment Co. after a debt dispute that brought up further allegations of missing funds and possible fraud.
Read More -- Malaysia’s 1MDB Fund Spawns Worldwide Probes: QuickTake
‘Destruction of Evidence’
An FBI agent warned in a U.S. court filing that information disclosed in the civil cases may reveal “potential targets and subjects of the investigation and the investigative techniques that have been and will be used in the investigation.”
"Such disclosures could result in the destruction of evidence, flight of potential subjects and targets, or the identification and intimidation of potential witnesses," according to the agent’s declaration.
Thom Mrozek, a spokesman for the U.S. attorney in Los Angeles, had no immediate comment on the Justice Department’s filings.
In its civil cases, the U.S. has alleged that from 2009 through 2015, more than $4.5 billion belonging to 1MDB was diverted by high-level officials of the fund and their associates.
The Low assets the U.S. is trying to seize include a stake in New York’s Park Lane Hotel, a $107 million interest in EMI Music Publishing, a $35 million Bombardier Jet and a $30 million penthouse at Time Warner Center in New York.
Diamonds, Picasso
In a second round of 1MDB-related forfeiture lawsuits filed in June, the Justice Department alleged that a $1.29 million heart-shaped diamond and a $3.8 million diamond pendant Low gave in 2014 to his then-girlfriend, actress Miranda Kerr, were bought with stolen money.
Read More: 1MDB Loot Included Picasso, ‘Dumb and Dumber To,’ U.S. Says
Low allegedly also gave a $3.2 million Picasso painting to actor Leonardo DiCaprio, who played the lead in "The Wolf of Wall Street," a movie the U.S. says was financed by Riza Aziz, a stepson of Malaysian Prime Minister Najib Razak, using misappropriated 1MDB funds.
Najib, who until last year was the chairman of 1MDB’s advisory board, has denied any wrongdoing and was cleared by Malaysia’s attorney general.
The Prime Minister’s Office, the Ministry of Finance and 1MDB didn’t immediately reply to emails seeking comment on the latest U.S. filings. 1MDB is wholly-owned by the finance ministry and it has consistently denied any wrongdoing.
Malaysia’s prime minister and attorney general responded angrily to the U.S. forfeiture actions in June and suggested they were politically motivated.
Low also issued a statement in June, saying the U.S. government was continuing “inappropriate efforts to seize assets despite not having proven that any improprieties have occurred.”
“We look forward to the court being presented with the actual facts which demonstrate that the DOJ’s case is completely without foundation,” he said through a representative.
The case is U.S. v. "The Wolf of Wall Street," 16-cv-05362, U.S. District Court, Central District of California (Los Angeles).
— With assistance by Shamim Adam
Popular Posts - Last 7 days
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Screenshot of a video shared by the public of the incident at the Kuala Lumpur International Airport (KLIA) Arrival Hall 1 on Sunday. SEPANG...
-
MAN DIES AS HIS BMW I7 CRASHES AND BURNS, WOMAN FRIEND SERIOUSLY INJURED A man died while his woman friend was seriously injured when the ca...
-
Mohd Shuhaily said the suspect had two previous records for threats and another record for stealing and impersonating a civil servant. - BER...
-
Coach Maloney and FAM part ways after eight years Bernama Julai 13, 2022 The Football Association of Malaysia (FAM) has released under fir...
-
SUSPECT HAFIZUL HARAWI IN KLIA SHOOTING FLED IN A WHITE HONDA CITY WXU 5666 from the parking area at Level 2 of Block C, where he parked...
-
Malaysia detects 3,902 new COVID cases, 8 deaths Melissa Fernando ASTRO AWANi Julai 20, 2022 Malaysia detects 3,902 new COVID cases, 8 de...
-
The Kota Bharu Magistrate's Court here, today, allowed the suspect suspected of opening fire at the Kuala Lumpur International Airport...
-
Socso suspends RM423 million PenjanaKerjaya payments Bernama Julai 15, 2022 Socso chief executive officer Datuk Seri Dr Mohammed Azman Azi...
Popular Posts - Last 30 days
-
Saudi says application for 1444 H umrah visa opens from today Bernama Julai 14, 2022 The Ministry of Haj and Umrah of Saudi Arabia has ann...
-
Wan Saiful confirms he is no longer PTPTN chairman Bernama Julai 12, 2022 Bersatu Information chief Datuk Wan Saiful Wan Jan today confirm...
-
Kedah MB: ECK no longer part of Kulim airport project Bernama Julai 13, 2022 Muhammad Sanusi announced that the ECK Group of Companies (EC...
-
King presents appointment letters to four new envoys Bernama Julai 12, 2022 His Majesty presenting the letter of appointment to M'sian...
-
Following is BEST FBKL's selection of The Top Ramadan 2024 Buka Puasa Buffet's in Kuala Lumpur and the Klang Valley. We hope that y...
-
Naz Empire's defamation lawsuit against Awal Ashaari to go to trial as mediation fails Bernama Julai 12, 2022 The defamation lawsuit f...
-
Paris court grants Malaysia's application to suspend claims by purported heirs of Sultan Jamalul Kiram II Bernama Julai 13, 2022 Dr Wa...
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Maybank Singapore withdraws lawsuit against NFC chairman, children over housing loans Bernama Julai 12, 2022 Maybank Singapore Limited has...
Blog Archive
-
►
2023
(3771)
- December (311)
- November (322)
- October (286)
- September (288)
- August (365)
- July (349)
- June (372)
- May (316)
- April (279)
- March (301)
- February (245)
- January (337)
-
►
2022
(4309)
- December (352)
- November (422)
- October (288)
- September (281)
- August (347)
- July (303)
- June (335)
- May (406)
- April (341)
- March (371)
- February (390)
- January (473)
-
►
2021
(9030)
- December (636)
- November (647)
- October (809)
- September (797)
- August (880)
- July (894)
- June (747)
- May (780)
- April (580)
- March (629)
- February (643)
- January (988)
-
►
2020
(6800)
- December (819)
- November (698)
- October (832)
- September (729)
- August (548)
- July (558)
- June (615)
- May (394)
- April (368)
- March (453)
- February (439)
- January (347)
-
►
2019
(4089)
- December (411)
- November (425)
- October (375)
- September (279)
- August (397)
- July (353)
- June (326)
- May (315)
- April (266)
- March (318)
- February (293)
- January (331)
-
►
2018
(4100)
- December (305)
- November (304)
- October (357)
- September (352)
- August (420)
- July (442)
- June (366)
- May (412)
- April (343)
- March (275)
- February (233)
- January (291)
-
▼
2017
(3888)
- December (268)
- November (293)
- October (352)
- September (309)
- August (356)
- July (300)
- June (319)
- May (354)
- April (316)
- March (335)
- February (306)
- January (380)
-
►
2016
(4563)
- December (331)
- November (328)
- October (378)
- September (415)
- August (404)
- July (380)
- June (310)
- May (370)
- April (430)
- March (484)
- February (355)
- January (378)
-
►
2015
(4588)
- December (402)
- November (392)
- October (393)
- September (375)
- August (450)
- July (392)
- June (456)
- May (407)
- April (408)
- March (374)
- February (262)
- January (277)