News about fraud

It was reported earlier this week that SPNB Aspirasi had filed a RM141 million lawsuit accusing Azizi, property developer Tunas Tunas Manja Development & Construction Sdn Bhd and 10 others, of conspiring to defraud the company over an affordable housing project in Kuantan, Pahang, using a similar modus operandi.

KUALA LUMPUR (July 2): 1Malaysia Development Bhd and its four subsidiaries were given an extension of time by the High Court here today to serve writs of their US$8 billion suit to 15 defendants, including former prime minister Datuk Seri Najib Razak.

KUALA LUMPUR (May 10): Three law firms have filed a plethora of 21 civil suits to claim billions of US dollars on behalf of state-owned 1Malaysia Development Bhd (1MDB) and its former subsidiary SRC International Sdn Bhd.

KUALA LUMPUR (June 30 ): Retiree Lee Cheong Chee, 55, is suing HSBC Bank Malaysia Bhd for negligence, saying the bank did not advise him against going ahead with transactions that “it could have deduced to be fraudulent”, the Malay Mail reported today.

KUALA LUMPUR (June 12): Goldman Sachs is trying to get federal prosecutors to ease up on the bank for its role in a scheme to loot billions of dollars from sovereign wealth fund 1Malaysia Development Bhd (1MDB), says the New York Times (NYT).

KUALA LUMPUR (June 10): Fugitive Malaysian financier Jho Low traveled to Kuwait last September, slipped past international arrest notices and authorities in the US and Malaysia seeking him for his alleged role in the multibillion-dollar state investment fund 1Malaysia Development Bhd (1MDB) fraud, says the Wall Street Journal (WSJ).

KUALA LUMPUR (Dec 23): Malaysia-based café operator OldTown Sdn Bhd should be held responsible for the damages and losses faced by China franchisees amid allegations of contract fraud involving ownership of the OldTown trademark there, franchisee Jiangsu G&L Food & Beverage Management Co Ltd (G&L) claimed today.

KUALA LUMPUR (Sept 26): In March 2011, Datuk Seri Najib Abdul Razak signed fabricated minutes of a meeting with 1DMB chief executive officer (CEO) Datuk Shahrol Azral Ibrahim Halmi that was drafted by Low Taek Jho, the High Court was told today.

BEIJING (Sept 25): Goldman Sachs Group Inc wants to help return money allegedly stolen from the Malaysian people through the 1MDB fraud case and resolve its entanglements with the affair, a senior bank executive said.

KEPONG (Aug 13): A family of three were scammed out of more than RM620,000 by a syndicate claiming to be able to assist them in buying three semi-detached houses developed by Selangor State Development Corp (PKNS).