Wolf of Wall Street producer arrested on money-laundering charges
In Malaysia, Riza Aziz - ex-PM Najib Razak's stepson - was detained then released on bail
Malaysia's anti-corruption agency has arrested former prime minister Najib Razak's stepson, a Hollywood producer who counts Martin Scorsese's The Wolf of Wall Street among his credits.
Riza Aziz was detained on Thursday but released on bail, according to Malaysia's Anti-Corruption Commission (MACC) chief LatheefaKoya, who said the film producer would face money-laundering charges on Friday.
Riza has previously been questioned in relation to the multibillion-dollar 1MDB scandal, in which Najib was accused of involvement in a sovereign wealth fund that was allegedly used to steal more than £3bn.
Najib denied charges of involvement in the schemes in May, in the first of multiple trials related to the scandal. The controversy helped to end the 60-year dominance of Malaysian politics by Najib's Barisan Nasional coalition.
The effects of the scandal have been felt around the world, from the seizure of a £95m yacht in Bali allegedly bought with stolen funds, to criminal charges against US investment bank Goldman Sachs.
#6804370 at 2019-06-21 06:07:02 (UTC+1) Q Research General #8703: #USSTRATCOM Dues Edition
Malaysia Won't Charge Those Who Willingly Return 1MDB Funds
MACC filed 270 million ringgit forfeiture suit linked to 1MDB
Malaysia seeks to recoup $5 billion of 1MDB funds globally
Malaysia is taking a pragmatic approach to recoup funds lost through 1MDB, saying it won't press charges against those who return the money voluntarily.
The Malaysian Anti-Corruption Commission has named 41 respondents in a forfeiture lawsuit to recover 270 million ringgit ($65 million) that originated from former Prime Minister Najib Razak's account, Chief Commissioner LatheefaKoya said in Kuala Lumpur. About 2 million ringgit of that has been surrendered, she said on Friday.
``If they voluntarily decided to give back the money, all is well and true, that's what we're focusing on, Latheefa said. ``And since the law is clear and we have alternative ways of recovering the money, we'll go for the most pragmatic way.
The agency isn't ruling out any action against those who returned the money if they were later found to be involved in money laundering.
The Southeast Asian nation has recovered about 919 million ringgit from 1MDB so far, including the return of funds from the U.S. and Singapore, said Latheefa, who was appointed June 1. The agency known as MACC will focus on onshore asset recovery, with global efforts overseen by another team, she said.
The globe-spanning 1MDB scandal has reached the highest levels of Malaysian politics and ensnared Goldman Sachs Group Inc. in its first criminal case. Najib is currently facing trial for the first set of 1MDB-linked charges against him.
The country is still seeking to recover $5 billion in global assets thought to be lost through 1MDB, MACC Deputy Chief Commissioner Azam Baki said on Friday. That's more than the $4.5 billion that U.S. prosecutors estimated because of the inclusion of local transactions linked to SRC International Sdn. and appreciation in asset value. Malaysia will name the members of the task force focused on the global asset recovery soon, he said.
The local 270-million ringgit forfeiture names branches of opposition party United Malays National Organisation, as well as politicians, companies and NGOs, as recipients of the fund.
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#31077 at 2019-11-05 04:06:36 (UTC+1) Q Research General #9452: Rally Bread Goes Best With Frens! Edition
Malaysia aims to locate further $4.34 billion in 1MDB-linked assets
KUALA LUMPUR (Reuters) - Malaysia is looking to locate at least 18 billion ringgit ($4.34 billion) worth of further assets linked to a scandal at state fund 1MDB, and is working with at least five nations to recover the amount, its anti-corruption chief said on Tuesday. U.S. authorities say about $4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB) in a scandal spanning several countries.
"This what we're working on... to locate, investigate and research where these properties are," LatheefaKoya, the head of Malaysia's Anti-Corruption Commission, told reporters. "As you know it's not just a one-off transaction, it's multiple transactions, so we need to work together with the countries to help us."