U.S. files lawsuits to seize assets tied to Malaysian fund 1MDB

[Eugene]

Source: Reuters

Wed Jul 20, 2016 12:15pm EDT

U.S. files lawsuits to seize assets tied to Malaysian fund 1MDB

BY PRAVEEN MENON, A. ANANTHALAKSHMI AND NATE RAYMOND

U.S. federal prosecutors have filed civil lawsuits seeking to seize assets worth more than $1 billion, allegedly stolen from Malaysian state fund 1MDB, which was overseen by Prime Minister Najib Razak.

None of the U.S. lawsuits name Najib but they contain details that appear to directly implicate the prime minister. They include allegations that $681 million from a 2013 bond sale by 1MDB was transferred to the account of "Malaysian Official 1", who is described in the lawsuits as "a high-ranking official in the Malaysian government who also held a position of authority with 1MDB.

1MDB and the Malaysian prime minister's office had no immediate comment.

Najib was investigated in Malaysia after revelations that $681 million was transferred to his personal bank accounts. Malaysia's attorney general said in January the prime minister had not committed any crime, and that the money in his bank account was a political donation from the Saudi royal family.

[font size=1]-snip-[/font]

Read more: http://www.reuters.com/article/malaysia-scandal-usa-idUSL1N1A6103

_________________________________________________________________________

Source: USA Today

Feds move to seize 'Wolf of Wall Street' profits in 1MDB probe

Kevin McCoy, USA TODAY 12:06 p.m. EDT July 20, 2016

The Department of Justice Wednesday moved to seize roughly $1 billion in assets, including proceeds from 2013 film "The Wolf of Wall Street," Old Masters art works and U.S. luxury real estate, in an international corruption investigation involving a Malaysian sovereign wealth fund.

Conspirators allegedly misappropriated more than $3.5 billion from 1Malaysia Development Berhad (1MDB) in a money laundering scheme, and then used the funds to buy pricey U.S. properties, pay gambling expenses at Las Vegas casinos, purchase art by Van Gogh and Monet and finance other personal expenses, investigators alleged.

"1MDB maintained no interest in these assets and saw no returns on these investments," prosecutors charged in the 136-page forfeiture action filed Wednesday in California federal court.

[font size=1]-snip-[/font]

Read more: http://www.usatoday.com/story/money/2016/07/20/us-seeks-wolf-wall-street-profits-1mdb-probe/87333104/

[metroins]

1. What does the DOJ have to do with

Malaysia corruption.

Did any Americans lose money?

[Eugene]

2. The stolen money was laundered in the United States and five other countries.

This is part of the DoJ's Kleptocracy Asset Recovery Initiative.

[metroins]

3. Good way to create enemies

In the world.

We're talking about seizing money from the number one officials in countries. It'll make other top officials wary of holding money here.

I'm not a fan personally unless Americans got hurt.

[think]

4. As usual Goldman Sachs is under investigation for their role in the scandal

http://www.freemalaysiatoday.com/category/nation/2016/07/06/several-not-one-us-agencies-probing-goldman-sachs/