INSIDER
Malaysian court orders Najib to enter defense in his 2nd graft trial linked to 1MDB scandal
Read full article: Malaysian court orders Najib to enter defense in his 2nd graft trial linked to 1MDB scandalMalaysia's High Court has ordered imprisoned former Prime Minister Najib Razak to enter a defense in his second corruption trial over the multibillion-dollar looting of the 1MDB state investment fund.
Malaysia halves prison term for ex-Prime Minister who oversaw multibillion-dollar 1MDB thefts
Read full article: Malaysia halves prison term for ex-Prime Minister who oversaw multibillion-dollar 1MDB theftsMalaysiaโs Pardons Board said Friday it has reduced ex-Prime Minister Najib Razakโs 12-year jail sentence by half and sharply cut a fine, less than two years into his sentence from a corruption case linked to the theft of billions of dollars from state coffers.
Malaysia questions Goldman Sachs lawsuit over 1MDB settlement, saying it's premature
Read full article: Malaysia questions Goldman Sachs lawsuit over 1MDB settlement, saying it's prematureThe Malaysian government has questioned a move by Goldman Sachs to file for arbitration in a dispute connected with the multibillion-dollar looting of a sovereign wealth fund.
Malaysian court dismisses dozens of graft charges against deputy prime minister
Read full article: Malaysian court dismisses dozens of graft charges against deputy prime ministerA Malaysian court has dismissed 47 corruption charges against Deputy Prime Minister Ahmad Zahid Hamidi after prosecutors unexpectedly dropped the charges at an advanced stage of his trial.
Why Leonardo DiCaprio testified at trial of Fugees rapper
Read full article: Why Leonardo DiCaprio testified at trial of Fugees rapperLeonardo DiCaprio testified Monday at the trial of former Fugees rapper Prakazrel โPrasโ Michel because both men have ties to a Malaysian businessman at the center of a massive international scandal.
Malaysia's top court refuses ex-PM Najib's bid for review
Read full article: Malaysia's top court refuses ex-PM Najib's bid for reviewMalaysiaโs top court has refused to review its 2022 decision to uphold former Prime Minister Najib Razakโs graft conviction and 12-year jail sentence, saying he was โthe author of his own misfortune.โ.
Jailed Malaysia ex-PM Najib acquitted in latest 1MDB trial
Read full article: Jailed Malaysia ex-PM Najib acquitted in latest 1MDB trialMalaysian former Prime Minister Najib Razak has been acquitted in the latest trial in response to the multibillion-dollar looting of the 1Malaysia Development Berhad state fund.
Correction: Trump Hotel-Foreign Government Spending story
Read full article: Correction: Trump Hotel-Foreign Government Spending storyIn a story published November 14, 2022, about foreign government spending at the Trump International Hotel in Washington, The Associated Press erroneously reported Saudi Arabia spent at least $164,929 at the hotel in 2017 and 2018, the same time it was trying to win over U.S. support after its invasion and blockade of Qatar.
Former Malaysian first lady guilty a week after Najib jailed
Read full article: Former Malaysian first lady guilty a week after Najib jailedMalaysian former first lady Rosmah Mansor has been ordered to serve 10 years in prison after being found guilty of soliciting and receiving bribes during her husbandโs corruption-tainted administration, a week after he was imprisoned over the massive looting of the 1MDB state fund.
Malaysia ex-PM Najib goes to jail after losing graft appeal
Read full article: Malaysia ex-PM Najib goes to jail after losing graft appealMalaysian ex-Prime Minister Najib Razak has begun a 12-year prison sentence after losing his final appeal in a graft case linked to the looting of the 1MDB state fund, with the top court unanimously upholding his conviction and sentence.
Malaysia ex-PM begins final bid to toss out graft conviction
Read full article: Malaysia ex-PM begins final bid to toss out graft convictionMalaysiaโs top court has begun hearing a final appeal by former Prime Minister Najib Razak to toss out his graft conviction linked to the massive looting of the 1MDB state fund.
Malaysian court upholds ex-premier Najib's graft conviction
Read full article: Malaysian court upholds ex-premier Najib's graft convictionMalaysiaโs Appeal Court has upheld the conviction and 12-year jail sentence of ex-Prime Minister Najib Razak linked to the massive looting of the 1MDB state investment fund that brought down his government in 2018.
Malaysia's 1MDB, former unit file suits to recover $23 bln
Read full article: Malaysia's 1MDB, former unit file suits to recover $23 blnMalaysiaโs finance ministry says the sovereign wealth fund 1MDB and a former subsidiary have filed 22 lawsuits to recover assets worth over $23 billion from various institutions and individuals.
Malaysian ex-PM Najib appeals graft conviction in 1MDB saga
Read full article: Malaysian ex-PM Najib appeals graft conviction in 1MDB sagaA Malaysian court is hearing an appeal by ex-Prime Minister Najib Razak to overturn his conviction and 12-year jail sentence linked to the massive looting of the 1MDB state investment fund that brought down his government in 2018.
Malaysia ex-PM's wife ordered to make defense in graft trial
Read full article: Malaysia ex-PM's wife ordered to make defense in graft trialThe court Thursday ordered Rosmah to enter her defense in a corruption trial linked to a 1.25 billion ringgit ($310 million) solar energy project. (AP Photo/Vincent Thian)KUALA LUMPUR โ A Malaysian court Thursday ordered the wife of ex-Prime Minister Najib Razak to enter her defense in a corruption trial linked to a 1.25 billion ringgit ($310 million) solar energy project. Najib, who was there to show support, rubbed her shoulders to console his wife after the judgment before leaving for his own graft trial in another courtroom. Last July, Najib was found guilty in his first graft trial linked to the 1MDB scandal. The aide testified Rosmah was feared by civil servants and requests from her department were often swiftly carried out.
Goldman Sachs subsidiary pleads to US charges in 1MDB probe
Read full article: Goldman Sachs subsidiary pleads to US charges in 1MDB probeA subsidiary of Goldman Sachs pleaded guilty on Thursday and agreed to pay more than $2 billion in a foreign corruption probe tied to the Malaysian 1MDB sovereign wealth fund, which was looted of billions of dollars in a corruption scandal. The company, Goldman Sachs Malaysia, entered the plea in federal court in Brooklyn. Goldman Sachs Malaysia entered the plea in federal court in Brooklyn. Goldman Sachs' board of directors decided to claw back pay and bonuses from top executives, including current CEO David Solomon and former CEO Lloyd Blankfein. Two Goldman Sachs executives have also been personally charged for fraud.
Malaysian ex-PM Najib arrives in court for graft verdict
Read full article: Malaysian ex-PM Najib arrives in court for graft verdictKUALA LUMPUR Ex-Malaysian Prime Minister Najib Razak arrived at court Tuesday for a verdict in the first of several corruption trials linked to the multibillion-dollar looting of the 1MDB state investment fund. Whatever the decision in the High Court tomorrow, it does not end here ... after this, we will go to the Court of Appeal. Najib set up 1MDB shortly after becoming prime minister in 2009 to ostensibly accelerate Malaysias economic development. Najibs lawyers said Low used the donation as a guise to keep Najib from being suspicious of his plundering of the 1MDB fund. Prosecutors argued Najib was the real power behind 1MDB and SRC, and called the Arab donation manufactured evidence to cover up his tracks.
Graft verdict for Malaysia ex-leader a test of rule of law
Read full article: Graft verdict for Malaysia ex-leader a test of rule of lawThis decision is a test of the independence of Malaysias political institutions and the rule of law in a country that has seen this fraying in recent months, said Bridget Welsh, honorary research associate at University of Nottingham Malaysia. Muhyiddin was fired as Najib's deputy in 2016 for speaking out on the 1MDB scandal but is now beholden to Najibs party for its support. Najibs party is the biggest bloc in the current Malay nationalist alliance, which was formed in March after a political coup by Muhyiddins party toppled the former reformist government. Another senior member of Najib's party was also freed after prosecutors dropped 46 corruption charges against him. Najib's wife and several officials from his party and previous government have been charged with graft as well.
Malaysia denies media harassment in row over Al-Jazeera film
Read full article: Malaysia denies media harassment in row over Al-Jazeera filmKUALA LUMPUR Malaysia has denied it was clamping down on social media after an outcry over an announcement that all video production must be licensed amid a row with news broadcaster Al-Jazeera. Communications Minister Saifuddin Abdullah sparked confusion Thursday after saying every film and video, including those produced by media groups and social media users, must comply with a 1981 Film Act that requires licensing. Many Malaysians and opposition lawmakers criticized Saifuddins announcement that could potentially affect videos produced on popular social media platforms such as Tik Tok, Facebook and Instagram. Over 80% of Malaysias 32 million population are social media users. Police also questioned an activist about a social media post alleging mistreatment of refugees at immigration detention centers.
Goldman Sachs in $3.9B settlement with Malaysia over 1MDB
Read full article: Goldman Sachs in $3.9B settlement with Malaysia over 1MDBKUALA LUMPUR Goldman Sachs has reached a $3.9B settlement with Malaysia over the 1MDB sovereign wealth fund that was used to launder money. Malaysian and U.S. prosecutors had alleged that bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian leader Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysias economic development. Najib was arrested as part of the scandal. Two former Goldman Sachs bankers have been charged for their role in helping 1MDB launder money. Goldman on Friday said it had agreed to pay the government of Malaysia $2.5 billion and to guarantee that it gets at least $1.4 billion in proceeds from assets that have since been seized around the globe.
Malaysia PM wins tests of support, ousts house speaker
Read full article: Malaysia PM wins tests of support, ousts house speakerKUALA LUMPUR Malaysian Prime Minister Muhyiddin Yassin narrowly won a motion to boot the parliament speaker Monday, scraping through the first test of his support nearly five months after taking power. Its success could thwart the opposition's bid of a no-confidence vote against Muhyiddin, analysts said. Lawmakers engaged in heated debates over Muhyiddins unprecedented proposal to replace the house speaker with his own candidate. Then Prime Minister Mahathir Mohamad resigned in protest of the plan, and filed a motion of no-confidence against his former party ally. Chin said the speaker replacement suggested parliament cannot act as an effective check and balance against Muhyiddin.
Malaysia's ex-PM to hear verdict in 1st graft case in July
Read full article: Malaysia's ex-PM to hear verdict in 1st graft case in JulyFormer Malaysian Prime Minister Najib Razak wearing a face mask arrives at court house in Kuala Lumpur, Malaysia, Thursday, June 4, 2020. Closing arguments are expected in the first corruption trial of him linked to the multibillion-dollar looting of the 1MDB state investment fund. The High Court set July 28 to deliver its verdict that will be closely watched as Najibs Malay political party is reviving its fortunes. Prosecutors argued Najib was the real power behind 1MDB and SRC as premier and finance minister at the time. Sithambaram said the change in Malaysia's government didn't affect the prosecution's case and that there was no order for them to back off against Najib.
The Latest: Judge orders Najib to enter defense in 1MDB case
Read full article: The Latest: Judge orders Najib to enter defense in 1MDB caseFormer Malaysian Prime Minister Najib Razak, left in foreground, arrives at Kuala Lumpur High Court in Kuala Lumpur, Monday, Nov. 11, 2019. (AP Photo/Vincent Thian)KUALA LUMPUR The Latest on the corruption trial of former Malaysian Prime Minister Najib Razak (all times local):___A Malaysian judge has ordered former Prime Minister Najib Razak to enter a defense in his first corruption trial linked to the massive looting at the 1MDB state investment fund. High Court Judge Mohamad Nazlan Mohamad Ghazali said Monday the prosecution had established its case on charges of abuse of power, breach of trust and money laundering. High Court Judge Mohamad Nazlan Mohamad Ghazali was continuing to read his ruling in court Monday. If the judge calls for Najib to present his defense, the trial would resume at a later date.
Judge: Prosecution made abuse of power case against Najib
Read full article: Judge: Prosecution made abuse of power case against NajibFormer Malaysian Prime Minister Najib Razak, left, greets supporters as he arrives at Kuala Lumpur High Court in Kuala Lumpur, Malaysia, Monday, Nov. 11, 2019. (AP Photo/Vincent Thian)KUALA LUMPUR A Malaysian judge says the prosecution has made an abuse of power case against ex-Prime Minister Najib Razak in his first corruption trial linked to the massive looting at the 1MDB state investment fund. High Court Judge Mohamad Nazlan Mohamad Ghazali was continuing to read his ruling in court Monday. If the judge calls for Najib to present his defense, the trial would resume at a later date. Najib is charged in four other cases in the scandal that led to his shocking election ouster last year.
Graft ruling for Malaysian ex-leader a test for government
Read full article: Graft ruling for Malaysian ex-leader a test for governmentNajib's first trial began in April on seven graft charges related to 42 million ringgit ($10.1 million) that allegedly went into his bank accounts from a former 1MDB unit. More than $700 million from the fund allegedly landed in Najib's bank account. His second trial, the biggest and most complex, started in August. Prosecutors say Najib was the real power behind the fraud in the fund and its local unit. His second trial may last many more months and dates have been set for his other trials.
Top Goldman Sachs banker among 17 charged in 1MDB scandal
Read full article: Top Goldman Sachs banker among 17 charged in 1MDB scandalCNNMoney(CNN) - Malaysia filed criminal charges against 17 current and former Goldman Sachs employees on Friday, including the bank's top international executive. Among those charged Friday was Richard Gnodde, the CEO of Goldman Sachs International. Malaysia has accused Goldman Sachs and some of its bankers of misleading investors about the bond sales and fraudulently diverting $2.7 billion of the proceeds. Goldman Sachs and some of its employees have been central figures in the case. Malaysia last year charged Goldman Sachs and four individuals, two of them former Goldman employees, with what authorities called "grave violations" of Malaysia's securities laws.