A former executive of BP Singapore was charged Thursday with taking about $4.3 million in bribes from a local businessman.
Entries in 1MDB (9)
Singapore authorities are banning the former director of Goldman Sachs in Singapore for ten years for his role in the 1MDB scandal.
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.
Regulators charged with enforcing anti-corruption, anti-money laundering, and economic sanctions laws and regulations have turned new attention to the real estate industry, and investigations and enforcement efforts span the globe.
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.