News about 1MDB

KUALA LUMPUR (May 28): US authorities have secured a court order to seize a luxury apartment in New York that was bought using funds allegedly misappropriated from 1Malaysia Development Bhd (1MDB).

The bank has also requested that a reserve price be set by the court and a licensed auctioneer appointed to handle the sale.

The four are Choo Kwang Wah and Choo Kwang Bin, who are children of the late Chor Phaik Sim, the other owner of the estate, and Datuk Seri Th’ng Boon Chye and Wong Kim Fong of the Kek Lok Si temple.

The land premium for converting the land status is a “minimal” RM10,000.

This is the first settlement out of 16 suits filed by SRC International, a former subsidiary of 1Malaysia Development Bhd (1MDB), along with two other SRC's subsidiaries Gandingan Mentari Sdn Bhd and Jendela Pinggiran Sdn Bhd.

KUALA LUMPUR (Nov 26): Former attorney-general Tan Sri Tommy Thomas claimed that former prime minister Datuk Seri Najib Abdul Razak’s legal action against him for “wrongful prosecution” is a political ploy the latter used in the lead-up to the recent Melaka state election.

KUALA LUMPUR (Nov 18): The board of directors in 1Malaysia Development Bhd (1MDB) was used to make illegal transactions seem legitimate as information given to them was misleading and concealed from them, said former 1MDB director Tan Sri Ismee Ismail (pictured).

KUALA LUMPUR (Nov 18): Former prime minister Datuk Seri Najib Abdul Razak had contemplated taking action against The Edge in 2015 over exposés by the financial newspaper over the mismanagement of the 1Malaysia Development Bhd (1MDB) state investment fund, its former chief financial officer (CFO) Azmi Tahir (pictured) testified at the 1MDB-Tanore trial on Thursday.

KUALA LUMPUR (Nov 15): 1Malaysia Development Bhd (1MDB) ex-chief executive officer (CEO) Mohd Hazem Abdul Rahman told the High Court here on Monday that former prime minister Datuk Seri Najib Razak had pressured the Malaysian government-owned company to remove KPMG as 1MDB's auditor after KPMG refused to conclude the audit of 1MDB's 2013 financial statements.

KUALA LUMPUR (Nov 12): 1Malaysia Development Bhd’s former CFO Azmi Tahir told the court on Thursday (Nov 11) that he could not question decisions to transfer US$3 billion of 1MDB funds to third parties, as these instructions came from the office of then prime minister Datuk Seri Najib Abdul Razak.