1MDB
UAE ambassador to America linked to Malaysian 1MDB scandal
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.
Naming and shaming better than fines says Singapore regulator
Singapore’s decision not to impose the same hefty fines on banks linked to 1MDB as other countries, but to instead name and punish individuals responsible, is a strong deterrent, said Ravi Menon, managing director of the city-state’s financial regulator.
Supermodel Kerr hands over $8m in jewellery linked to 1MDB
Australian supermodel Miranda Kerr has handed over $8.1m (£6.4m, €7.2m) worth of jewellery to US authorities that she allegedly received from former boyfriend Jho Low, a person of interest in the 1MDB scandal.
Luxembourg regulator fines Rothschild over 1MDB failings
Swiss private bank Edmond de Rothschild has been fined nearly €9m (£7.9m, $10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.
US seeks recovery of $1.7bn from scandal-hit 1MDB fund
The US Department of Justice (DOJ) is working to recover around $1.7bn (£1.3bn, €1.5bn) in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).