Singapore authorities are banning the former director of Goldman Sachs in Singapore for ten years for his role in the 1MDB scandal.
Entries in 1 Malaysia Development (11)
Prosecutors in the Singapore trial of a former BSI banker said this week the defendant and other former employees of the Swiss bank helped launder up to $2.3 billion looted from the Malaysia sovereign wealth fund 1MDB.
Singapore's bank regulator Tuesday shut down a second bank for "serious failures in anti-money laundering controls and improper conduct" linked to Malaysia's 1MDB fund.
Authorities in Singapore Monday charged two ex-BSI SA bankers for their role in helping divert money from a Malaysia sovereign wealth fund.
From 2009 to at least 2013, private individuals were allegedly able to siphon off more than $3.5 billion from the wealth fund of Malaysia and go on a high-end luxury shopping spree in several countries including the United States, the United Kingdom and Switzerland for property, museum-quality art and a private jet.
Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.
The DOJ filed a civil forfeiture complaint Wednesday against assets allegedly bought with money looted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.
Singapore shut down the local operations of Swiss-based BSI Bank Tuesday and named six bankers suspected of possible criminal conduct in connection with the handling of a Malaysian government fund.
The Singapore Commercial Affairs Department and the Monetary Authority of Singapore said Monday they have seized a "large number" of bank accounts linked to a money laundering investigation involving the Malaysia state investment fund 1MDB.
Malaysia Prime Minister Najib Razak on Tuesday fired his deputy premier, Muhyiddin Yassin, who publicly questioned the government’s closure of two newspapers.