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☆ Malaysia Pardons Board Halves Jail Sentence of Jailed Ex-Pm Najib
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

KUALA LUMPUR (Reuters) - A Malaysian pardons board on Friday said it has decided to halve the jail sentence of former Prime Minister Najib Razak, who was convicted of graft and money laundering related to the multibillion-dollar 1MDB scandal. Najib, who is serving a 12-year jail term, will be released in August 2028 and fines imposed on him reduced to 50 million ringgit ($10.59 million) from 210 million ringgit, the board's secretariat said in a statement. Najib was jailed for graft linked to state fund 1Malaysia Development Berhad (1MDB), from which U.S. and Malaysian investigators estimate $4.5 billion was stolen and more than $1 billion channeled to accounts linked to the former premier. ($1 = 4.7220 ringgit)(Reporting by Rozanna Latiff; Editing by Martin Petty)

Persons: Najib Razak, Najib, Rozanna Latiff, Martin Petty Organizations: Reuters, Malaysian, 1Malaysia Development Locations: KUALA LUMPUR

☆ Malaysia halves jail sentence of ex-prime minister Najib
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +3 min

Najib Razak, Malaysia's former prime minister, gestures as he leaves the Kuala Lumpur Courts Complex in Malaysia, on Thursday, Sept. 20, 2018. The board, chaired by Malaysia's king, did not give a reason for halving Najib's sentence. It said if Najib failed to pay the fine given, an additional year would be imposed on his jail term. Malaysia's king plays a largely ceremonial role but can pardon convicted people among discretionary powers granted by the federal constitution. The pardons board, which advises the king, includes the attorney-general and government officials.

Persons: Najib Razak, Anwar Ibrahim's, Anwar, Najib, Malaysia's, Jho Low, Al, Sultan Abdullah Ahmad Shah, Sultan Abdullah, Sultan Ibrahim Sultan Iskandar Organizations: United National Malays Organisation, 1Malaysia Development, Saudi Locations: Kuala Lumpur, Malaysia, Johor .

☆ Malaysia Cabinet Discusses Najib Pardon Bid, but Won't Announce Outcome - Minister
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

It will be at the discretion of the Pardons Board to announce its decision, Saifuddin Nasution Ismail said at a press conference on immigration and labour issues, which was packed with media seeking news on Najib's clemency bid. Najib requested a royal pardon shortly after beginning his sentence in 2022 and after exhausting all other appeals. Najib's lawyer and representatives, as well as Malaysia's attorney-general, a member of the pardons board, did not respond to Reuters' requests for comment. "Let us not jump the gun, let us wait for an official statement to be made," Communications Minister Fahmi Fadzil said at a separate press briefing. U.S. and Malaysian investigators estimate around $4.5 billion was stolen from 1MDB, with more than $1 billion channeled to accounts linked to Najib.

Persons: Danial Azhar, Najib Razak, Saifuddin Nasution Ismail, Najib, Prime Minister's Department Zaliha Mustafa, Najib's, Fahmi Fadzil, Jho Low, Nooryana Najwa Najib, pensively, Martin Petty Organizations: Reuters, 1Malaysia Development, Prime Minister's Department, Communications, Saudi Locations: KUALA LUMPUR

☆ Jailed former Malaysian PM Najib in hospital with COVID-19
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

Former Malaysian Prime Minister Najib Razak attends a news conference at the Federal Court in Putrajaya, Malaysia August 16, 2022. REUTERS/Hasnoor Hussain Acquire Licensing RightsKUALA LUMPUR, Nov 2 (Reuters) - Malaysia's jailed former prime minister Najib Razak has been admitted to a hospital after testing positive for COVID-19, his spokesperson said on Thursday. Najib, 70, is in stable condition and is undergoing quarantine and treatment at the hospital, his aide, Muhamad Mukhlis Maghribi, said. U.S. and Malaysian investigators estimate some $4.5 billion was stolen from 1MDB - co-founded by Najib during his first year as prime minister in 2009 - and that more than $1 billion went to accounts linked to Najib. Since then, Najib has been in and out of hospital for several issues, including stomach ulcers and high blood pressure.

Persons: Najib Razak, Hasnoor Hussain, Malaysia's, Najib, Muhamad Mukhlis Maghribi, Rozanna Latiff, Robert Birsel Organizations: Malaysian, Federal, REUTERS, 1Malaysia Development, Thomson Locations: Putrajaya, Malaysia, KUALA LUMPUR

☆ Malaysia says Goldman Sachs suit 'premature' amid dispute over 1MDB settlement
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Olivia Harris/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 12 (Reuters) - A Malaysian government task force said on Thursday it viewed Goldman Sachs' (GS.N) filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal. Goldman Sachs in 2020 had agreed to pay $3.9 billion to settle Malaysia's criminal probe over its role in the multi-billion dollar 1MDB corruption scandal. Malayia's 1MDB task force said Goldman Sachs had requested an extension on a Nov. 8 deadline for discussions to settle the dispute. Goldman Sachs lodged its suit less than two months after Malaysian Prime Minister Anwar Ibrahim threatened to take the company to court. Goldman had helped 1MDB raise $6.5 billion in two bond offerings, earning itself $600 million in fees, according to the U.S. Justice Department.

Persons: Olivia Harris, Goldman Sachs, Goldman, Malayia's, Johari Abdul Ghani, Johari, Anwar Ibrahim, Rozanna Latiff, Martin Petty, Simon Cameron, Moore Organizations: Development, Exchange, REUTERS, Malaysia, Malaysian, U.S . Justice Department, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Malaysian, U.S

☆ Goldman Sachs sues Malaysia as discord over 1MDB settlement escalates
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris/ File Photo Acquire Licensing RightsOct 11 (Reuters) - Goldman Sachs Group (GS.N) is suing Malaysia in a UK court, a source familiar with the matter told Reuters, as tensions escalate over a settlement linked to its role in the 1MDB investment-fund scandal. The arbitration has been filed with the London Court of International Arbitration (LCIA), the source said. In 2020, Goldman Sachs had agreed to pay $3.9 billion to settle Malaysia's criminal probe over the U.S. investment bank's role in the multibillion-dollar 1MDB scandal. The United States has been returning funds it has recovered from seized assets that were allegedly bought with stolen 1MDB money.

Persons: Olivia Harris, Goldman Sachs, Najib Razak, Goldman, Samrhitha, Shinjini Organizations: Malaysia Development Berhad, Tun, Exchange, REUTERS, Goldman Sachs, London Court, International, Government, Reuters, Malaysian, Prosecutors, United, Bloomberg News, Thomson Locations: Malaysia, Kuala Lumpur, U.S, United States, Bengaluru

Malaysia's Prime Minister Anwar Ibrahim attends the 26th ASEAN-China Summit at the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. Hassan Karim, a lawmaker from Anwar's People's Justice Party, said he felt "let down" by the premier, whom he described as a close friend. The AGC has said it dropped charges against Ahmad Zahid to review new evidence, and reiterated that its decisions were made independently. On Saturday, around 1,000 people turned up at a protest in Kuala Lumpur organised by Malaysia's opposition, calling for Ahmad Zahid to be prosecuted and chanting "reforms are dead." Najib has sought a royal pardon over his conviction and requested other charges that he faces to be reviewed.

Persons: Anwar Ibrahim, Yasuyoshi, Anwar Ibrahim's, Anwar, Ahmad Zahid Hamidi, Najib Razak, Hassan Karim, Ahmad Zahid, Najib, MUDA, Syed Saddiq Syed Abdul Rahman, Syed Ibrahim Syed Noh, Ahmad Zahid's, Wong Chin Huat, Wong, Rozanna Latiff, Danial Azhar, Hasnoor Hussain, Kim Coghill Organizations: Malaysia's, China, ASEAN Summit, 1Malaysia Development, People's Justice Party, Reuters, United Malays National Organisation, Malaysia's Sunway University, Thomson Locations: ASEAN, Jakarta, Indonesia, KUALA LUMPUR, Malaysia, Kuala Lumpur

☆ Malaysia fails to appeal ex-PM Najib's acquittal in 1MDB audit tampering case
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

Former Malaysian Prime Minister Najib Razak speaks to journalists outside the Federal Court during a court break, in Putrajaya, Malaysia August 23, 2022. Najib, 70, is serving a 12-year jail sentence for another corruption case linked to 1Malaysia Development Berhad (1MDB). The attorney-general's chambers was expected to appeal Najib's acquittal earlier this year of a charge of abusing his position as prime minister to amend a government audit into 1MDB . But Najib's lawyers at Shafee & Co said in a statement, "the prosecution evidently found no grounds for appeal" and did not file the petition. Anwar has maintained that the move to drop the case, which triggered a widespread public backlash, was made without his interference.

Persons: Najib Razak, Lai Seng, Anwar Ibrahim, Anwar, Najib, Ahmad Zahid Hamidi, Danial Azhar, Kanupriya Kapoor Organizations: Malaysian, REUTERS, 1Malaysia Development, Shafee, U.S . Justice Department, Malaysian United Democratic Alliance, Thomson Locations: Putrajaya, Malaysia, KUALA LUMPUR, 1MDB

☆ Malaysia PM vows to recover Goldman Sachs 1MDB settlement, warns of possible lawsuits
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.

Persons: Malaysia's, Anwar Ibrahim, Malaysia's King, hasn't, Goldman Sachs, Anwar, CNBC's Martin Soong, Goldman, Muhyiddin Yassin, I've, —, Mahathir Mohamad, Anwar Malaysia's, Anwar's Pakatan, Najib Razak, Muhyiddin, Islam that's Organizations: Nurphoto, Getty, Malaysia's, 1Malaysia, Malaysia, CNBC, of, Malaysian, Barisan Nasional, Barisan, Perikatan Nasional coalition, Islamic, Malay Locations: Kuala Lumpur, Putrajaya, Malaysia, Malaysian, Anwar Ibrahim Malaysia, U.S, of Malaysia, United States, Malay, Federal

☆ Ex-aide to 1MDB fugitive Jho Low dies weeks after questioning
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, May 31 (Reuters) - A former aide to Malaysian fugitive Jho Low - wanted for his central role in the multi-billion dollar 1MDB corruption scandal - has died weeks after being questioned by Malaysian authorities on Low's whereabouts, his lawyers said on Wednesday. He was questioned by the Malaysian Anti-Corruption Commission (MACC) on arrival and had his house searched, media reported. Malaysian authorities have previously said Low was believed to be in China, though Beijing has denied that. Low has been charged in Malaysia and the United States for allegedly masterminding the theft of $4.5 billion from now-defunct fund 1Malaysia Development Berhad (1MDB). Former Malaysian prime minister Najib Razak, who co-founded 1MDB, was sentenced to 12 years in prison last year for graft linked to the scandal.

Persons: Jho, Kee Kok Thiam, Valen, Kee, Al Jazeera, Al, Low, Najib Razak, Hasnoor Hussain, Rozanna Latiff, Kanupriya Kapoor Organizations: Malaysian, Partners, Malaysian Anti, Corruption, 1Malaysia Development, Thomson Locations: KUALA LUMPUR, Malaysian, U.S, Malaysia, Macau, 1MDB, China, Al Jazeera, Beijing, United States

☆ Jailed Malaysian ex-PM Najib loses final bid to review graft conviction
▼ + stars: | 2023-03-31 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

KUALA LUMPUR, March 31 (Reuters) - Malaysia's top court on Friday dismissed a bid by jailed former prime minister Najib Razak to review his corruption conviction over the multi-billion dollar scandal at state fund 1MDB, ending Najib's judicial efforts to challenge the guilty verdict. Najib was jailed last year after Malaysia's Federal Court upheld a guilty verdict and 12-year prison sentence handed down to him by a lower court. Federal Court Judge Vernon Ong said a five-member panel voted 4-1 to dismiss Najib's application to review the conviction. Najib faces three other trials related to graft at 1MDB and other government agencies. Reporting by Rozanna Latiff; Writing by A. Ananthalakshmi; Editing by Ed Davies and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Former Malaysia PM Najib cleared of audit tampering in 1MDB graft scandal
▼ + stars: | 2023-03-03 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

KUALA LUMPUR, March 3 (Reuters) - A Malaysian court on Friday acquitted jailed former Prime Minister Najib Razak of audit tampering in one of the many cases he faces over a multi-billion corruption scandal at state fund 1Malaysia Development Berhad (1MDB). The acquittal comes amid renewed scrutiny on government graft under Prime Minister Anwar Ibrahim, whose administration had to partner with Najib's corruption-tainted party to form a government late last year. Friday's acquittal was on a charge of abusing his position as prime minister to amend a government audit into 1MDB. The fund's former chief executive Arul Kandasamy was charged with abetting Najib and was also cleared and both had pleaded not guilty. Najib faces three more cases related to corruption at various government entities and 1MDB, a fund he co-founded in 2009.

☆ Philippine economic managers back bill creating sovereign fund
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

MANILA, Dec 9 (Reuters) - Philippine economic officials have thrown their support behind the creation of a sovereign wealth fund backed by President Ferdinand Marcos Jr amid opposition from some groups due to concerns over the risk of corruption and transparency. The economic managers "strongly support" the proposed sovereign wealth fund to generate additional income for the government, Finance Secretary Benjamin Diokno told a media briefing, as he called for the speedy passage of the bill creating the fund. "Direct benefits of the (fund) include increased investments in and funding of big ticket infrastructure projects, high return on green and blue projects, and countryside development including agriculture," Diokno said, reading a joint statement. Authors of the bill have agreed to remove that contentious provision, and instead proposed utilising the profits of the Philippine central bank to bankroll the fund. The plans come as neighbours like Malaysia and Singapore and more recently Indonesia have established sovereign wealth funds, with mixed results.

☆ Ahead of Malaysia's elections, political rivals battle over corruption and 1MDB scandal
▼ + stars: | 2022-11-18 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

watch nowMalaysia's nationalist UMNO party said its rivals are driving a "campaign of fear" against the ruling Barisan Nasional coalition in the lead-up to Saturday's elections and this could cost Malaysians. UMNO is part of the Barisan Nasional coalition. "I'm not at all denying that there are issues around integrity in our political system and this applies to all political parties." Corruption allegations against Najib led to the the long-standing ruling coalition Barisan Nasional being ousted from power in the last election in 2018, ending its 60-year political dominance in the Southeast Asian country. "Top leaders in our party are still facing court cases; now could you have said that for the time when Mahathir was prime minister?

☆ Trump D.C. hotel receipts reveal $10,500-a-night rooms for foreign officials seeking to influence U.S.
▼ + stars: | 2022-11-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Anna_Byline.Jpg | Anna Schecter | ) www.nbcnews.com time to read: +8 min

For their part Qatari officials and connected companies spent at least $307,941 at the Trump hotel from late 2017 through mid-2018, according to the Oversight Committee’s findings. In the letter she requests presidential records from NARA that could be related to attempts by foreign governments and lobbyists working on their behalf to influence the Trump administration by spending money at the Trump Hotel. A spokesperson for the Malaysian Embassy did not immediately respond to a request for comment. According to the Oversight Committee, documents from Mazars show the Turkish Embassy sponsored two stays at the Trump hotel around the time of Erdoğan’s visit. The documentation obtained did not show how much the embassy spent at the hotel during either of these stays.

☆ Malaysia court dismisses govt bid to forfeit millions in assets linked to ex-PM Najib
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Nov 14 (Reuters) - A Malaysian court on Monday struck down a government bid to forfeit millions of dollars in luxury goods seized from jailed ex-premier Najib Razak, finding insufficient evidence linking the assets to unlawful activities, a lawyer for Najib said. Najib was voted out in 2018 amid public anger over his alleged involvement in a multibillion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB). Following his election loss, police seized cash and assets including handbags and jewellery worth nearly $300 million in raids on several properties linked to Najib. Some 114 million ringgit ($24.86 million) was returned to Najib last year after the court dismissed a separate forfeiture bid on the seized cash. The alliance made its way back into power last year under Prime Minister Ismail Sabri Yaakob, after two previous administrations collapsed amid political turmoil.

☆ Trump D.C. hotel receipts reveal $10,500-a-night rooms for foreign officials seeking to influence U.S. policy
▼ + stars: | 2022-11-14 | by ( Anna Schecter | ) www.cnbc.com time to read: +8 min

The Saudi revenues for the Trump hotel came during a period when Saudi Arabia and the UAE were lobbying the Trump administration to support them during their blockade against economic rival Qatar. In the letter she requests presidential records from NARA that could be related to attempts by foreign governments and lobbyists working on their behalf to influence the Trump administration by spending money at the Trump Hotel. The Malaysian expenditures at the Trump Hotel were the most extensive in a one-week period found by the Oversight Committee to date. A spokesperson for the Malaysian Embassy did not immediately respond to a request for comment. The documentation obtained did not show how much the embassy spent at the hotel during either of these stays.

☆ Malaysia's Mahathir fears Najib would walk free if graft-tainted party wins polls
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

Former Malaysian Prime Minister Najib Razak speaks to journalists outside the Federal Court during a court break, in Putrajaya, Malaysia August 23, 2022. REUTERS/Lai Seng SinKUALA LUMPUR, Oct 11 (Reuters) - Malaysia's veteran politician and opposition leader Mahathir Mohamad predicted on Tuesday that disgraced former prime minister Najib Razak would be released from jail if his graft-tainted ruling party wins an upcoming general election. "Should they be able to win and form the government, that is the first objective, not about the welfare of the people," Mahathir, who had two stints as prime minister, told a news conference. They were both prosecuted, along with other party leaders, after UMNO lost the 2018 election for the first time in Malaysia's history as voters punished the party for 1MDB and other corruption scandals. Investigators have said some $4.5 billion was stolen from 1MDB - co-founded by Najib during his first year as prime minister in 2009 - and that over $1 billion went to accounts linked to Najib.

☆ Former Malaysia deputy prime minister acquitted of graft charges - media
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Former Malaysian deputy prime minister and current president of the ruling party UMNO Ahmad Zahid Hamidi arrives at the Kuala Lumpur High Court complex for the court's decision on whether he will have to enter his defence or be acquitted of corruption and money laundering charges in Kuala Lumpur, Malaysia, January 24, 2022. REUTERS/Hasnoor HussainRegister now for FREE unlimited access to Reuters.com RegisterKUALA LUMPUR, Sept 23 (Reuters) - A Malaysian high court acquitted a former deputy prime minister of 40 bribery charges, saying the prosecution had failed to provide enough evidence, state news agency Bernama reported on Friday. The UMNO party came back to power in 2020 after an alliance led by Mahathir Mohamad that won the 2018 election collapsed from infighting. Zahid has been urging Prime Minister Ismail Sabri Yaakob, who is also from the UMNO party, to call for early elections ahead of a September, 2023 deadline. Register now for FREE unlimited access to Reuters.com RegisterReporting by A. Ananthalakshmi; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

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