Tuesday, January 24, 2023

Petronas Carigali ex-executive charged

Latest: Corruption and Money Laundering

Petronas Carigali ex-executive charged with more corruption and money laundering.

A former executive of Malaysia’s national upstream company Petronas Carigali has been charged with more counts of corruption and money laundering.

Mohd Amal M Razalan pleaded not guilty at the Sessions Court in Kuala Lumpur last Wednesday to a further 41 counts of graft and five more charges of money laundering totalling more than 9.5 million ringgit ($2.2 million) related to maintenance work contracts.


Tuesday, April 12, 2022

Buy mine - You get Bandar Malaysia.

Latest: Corruption and Money Laundering
Buy My Roti shop - You get Bandar Malaysia.

The return of the cronies and proxies of the 1980s and 1990.



Just like a normal family affair. If you can't recall the occassion, 

Malaysians foresee no justice at home -

Latest: Corruption and Money Laundering

1MDB: After ex-Goldman banker’s US conviction, Malaysians foresee no justice at home. 





Low, the subject of an international manhunt, faces criminal charges in Malaysia and the United States for his alleged role in embezzling billions of dollars from 1MDB through his relationship with Najib.




Conviction of Roger Ng Relating to the 1MDB

Latest: Corruption and Money Laundering.

FCPA Alert: Lessons Learned from Last Week's Trial Conviction of Roger Ng Relating to the 1MDB Malaysian Bond Deals.


On Friday, after a two-month trial and just over three days of deliberation, a jury in the Eastern District of New York returned its verdict in the case against Roger Ng, finding the international banker guilty on all counts. Bracewell attorneys personally observed the closing arguments of counsel, which were well presented and hard-fought on both sides.

The verdict came as a surprise to some who were skeptical of the government’s charges against Ng, former Managing Director of Goldman Sachs subsidiaries in Southeast Asia, for money laundering and violations of the Foreign Corrupt Practices Act (FCPA). Jury trials under the FCPA are a rarity, as many FCPA defendants historically have been corporate entities that negotiated Deferred Prosecution Agreements with the government, and thus avoid the public scrutiny that is informed by trial.1 Ng’s case, which started under the last administration, is illustrative of the current trend in FCPA enforcement strategies to target not only corporate entities but also the individuals responsible for corrupt payments.2 Ng faces up to 20 years in prison for each of his three counts of conviction, although the district court has broad discretion in imposing his ultimate sentence.

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Saturday, September 14, 2019

Najib’s former officer reveals secret overseas bank accounts

Latest: Corruption and Money Laundering

 Thursday, September 5th, 2019 at , News
 Najib’s former officer reveals secret overseas bank accounts











by RAHIMI YUNUS/ pic by RAZAK GHAZALI
A FORMER aide to Datuk Seri Mohd Najib Razak (picture) has provided a riveting testimony in the former prime minister’s (PM) corruption and money laundering trial related to 1Malaysia Development Bhd (1MDB).
In what was dubbed the world’s largest financial larceny ever engineered, Datuk Amhari Effendi Nazaruddin’s testimony provided substantial insight into the financial scandal that helped bring down a government.
Four days into the hearing, Amhari Effendi, who was in Najib’s former inner circle, testified that the ex-PM and his alleged co-conspirator Jho Low had orchestrated action plans to contain 1MDB’s fallout and bail the company.
Amhari Effendi also said Jho Low, whose real name is Low Taek Jho, had instructed him and the late Datuk Seri Azlin Alias to open overseas bank account each that could potentially be used to keep political funds for the 13th General Election (GE13).
Accounts in Singapore
“Jho Low said this matter has received blessing and we were ordered to open these bank accounts for ‘just in case and standby’. Azlin and I understood this ‘blessing’ was from Najib,” Amhari Effendi said. 

How PCCB can stem the tide of corruption

Latest: Corruption and Money Laundering


How PCCB can stem the tide of corruption

 

 PCCB acting director general John Mbungo (left)

PCCB acting director general John Mbungo (left) shakes hands with African Union Advisory Board on Corruption chairman Begoto Miarom after opening a sensitisation workshop in Dar es Salaam yesterday. PHOTO | SAID KHAMIS 
By ohn Namkwahe @johnteck3 news@tz.nationmedia.com
 
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Russia raids Kremlin critic Navalny's supporters

Latest: Corruption and Money Laundering


Russia raids Kremlin critic Navalny's supporters.

Russian law enforcement carried out mass raids on Thursday (September 12) targeting the homes and offices of Kremlin critic Alexei Navalny's supporters.
Authorities say its part of a money laundering investigation into Navalny's Anti-Corruption Foundation.
But the raids across 39 towns and cities also take place after an election in upset Moscow.
Navalny had urged his supporters to vote tactically in last weekend's elections, which saw the ruling United Russia party, which supports President Vladimir Putin, lose a third of its seats in the Moscow city assembly.
Navalny released this message on Thursday:

(SOUNDBITE) (Russian) KREMLIN CRITIC ALEXEI NAVALNY, SAYING:
"This time, Putin got really upset because of the tactical voting, as his favourite offspring, his sweet child I would say, the United Russia party has been busted in Moscow and seriously beaten in the regions. Yes he is upset and he is stomping his little feet."


WHITE FLASH

(SOUNDBITE) (Russian) KREMLIN CRITIC ALEXEI NAVALNY, SAYING:
"We won't give up. We will regain power and continue fighting against crooks and thieves."
Navalny's Anti-corruption Foundation has published embarrassing reports into what it says is the wrongdoing by government officials.
State investigators last month opened a criminal investigation into the alleged laundering of 1 billion roubles - that's $15 million - by the foundation itself.
It also froze a slew of bank accounts linked to the foundation...
Meanwhile, a seperate non-governmental organization that monitors Russian elections, said on Thursday that the homes of its activists were also being raided by the authorities.