fbpx
Connect with us

News

DoJ Traces 1MDB US$73.5m to Najib’s Stepson

Published

Doj Traces 1Mdb Us$73.5M To Saudi Associates, Najib’s Stepson, Joey Mcfarland - World Of Buzz 1
Source: CNN / MalayMail

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

According to Malaysiakini, a 2013 1Malaysia Development Berhad (1MDB) bond offering was diverted to private accounts of the sovereign fund’s Senior Executive and two Saudi Arabians who funnelled a part of the money to the Hollywood production company of Najib’s stepson Riza Aziz and Joey McFarland.

Documents filed by the US Department of Justice (DoJ) in California to recover US$38 million worth of assets showed that US$37.5m was transferred to 1MDB’s former Executive Director of Group Strategy Jasmine Loo Ai Swan, former Managing Director of Abu Dhabi sovereign wealth fund International Petroleum Investment Company (IPIC) Khadem Abdulla al-Qubaisi and former CEO of IPIC subsidiary Aabar InvestmentsPJS Mohamed Al-Husseiny.

150627133851 Department Of Justice Logo Super Tease

Source: cnn

The transaction which took place between April and May 2013, was made from a Riyad Bank Account in Saudi Arabia held by a person dubbed “Saudi Associate 2”.

Loo received US$10m, Khadem US$24m and Mohamed’s former wife Suaad al-Attas US$39.5m.

Doj 002

Source: malaysiakini

Of the millions received by the three, Loo paid US$3.1m on a London property via Red Mountain Global Ltd whilst Mohamed spent it on a New York property called Oceana 57 for US$4.1m.

Khadem, alleged to be the beneficiary of the 1MDB financial scam, lent US$4.2m to Red Granite Capital, owned by Riza Aziz.

The loan was made via Telina Holdings owned by Khadem and registered in tax haven, the British Virgin Islands.

Khadem also supposedly funded a 43.37% purchase of a facilities management company in Kentucky, believed to be in the home state of McFarland.

Another series of transactions were also made to Red Granite Investment Holdings, wholly owned by Riza and another executive dubbed “Company 1 Executive 1”.

Doj 001

Source: malay mail

Reportedly, McFarland received US$3.5m from “Company 1” in January 2015 and transferred US$1.5m to Riza’s personal account.

In the previous month, “Company 1” spent US$28.1 million to buy back the shares from Red Granite Investment Holdings and McFarland through an affiliate company called New FM Acquisition Company.

The company have since deposited the funds in an escrow account held by a US-based international law firm called Squire Patton Boggs.

Reuters reported that the US DoJ had made a new civil filing to recover these new assets through the bonds arranged by Goldman Sachs, placing their total forfeiture attempt to US$1.7b.

Also read: Bill Gates Recommends Reading “Billion Dollar Whale”, Says 1MDB Scandal is “Thrilling”

Bill Gates World Of Buzz 2 768X404 1

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Feat Image Jellyfish Sabah Feat Image Jellyfish Sabah
News15 hours ago

Water Turns Red at Sabah Beach as Tens of Thousands of Jellyfish Wash Ashore in Strange Phenomenon

A strange phenomenon in Sabah has piqued the interest of Malaysians recently after photos and videos of the occurrence went...

Collage 5 9 Collage 5 9
News16 hours ago

“Stand down, you’ve made your point” – KJ Reminds Politician Who’s Criticising KK Mart Over Allah Socks Issue

“Stand down, Akmal. You’ve made your point, you’ve done well, but it’s time to stand your guys down.” In his...

My Post 1 2024 03 27T182644.900 My Post 1 2024 03 27T182644.900
News2 days ago

Anwar Ibrahim Urges Public to Stop Being Judge, Jury & Executioner Over ‘Allah’ Socks Issue

Prime Minister Datuk Seri Anwar Ibrahim has asked all parties not to prolong the issue of the socks with the...

My Post 1 2024 03 27T170635.860 My Post 1 2024 03 27T170635.860
News2 days ago

KKM Takes Action Against Ramadan Bazaar Vendor After Rag Was Found Inside Murtabak

With Ramadan bazaar vendors doing everything they can to put themselves ahead of the stiff competition they’re facing against other...

Feat Image Padu T20 Feat Image Padu T20
News2 days ago

Economy Ministry: T20 M’sians May Still Get Targeted Subsidies, But Only If They Register for PADU

With registration for the Central Database Hub (PADU) due in just 4 days, the Economy Ministry is now ramping up...

Collage 80 Collage 80
News2 days ago

2 JB Men Get Caught by Religious Dept for Skipping Fast & Eating Publicly, Say They’re Tired from Work

With about 2 weeks left for Ramadhan, many Muslim friends who are currently fasting must be excited for Raya which...

Feat Image Underwater Cleanup Feat Image Underwater Cleanup
News2 days ago

M’sians Band Together to Clean Up a Whopping 12.1 Tonnes of Trash from Sabah Ocean Floor

A whopping 12.1 tonnes of waste were collected from the ocean floor at 3 locations in Sabah recently thanks to...

Collage 2 8 Collage 2 8
News2 days ago

“Raya is in 2 weeks!”- PMX Wants Lower Rentals for Ramadhan Bazaar Vendors, M’sians Say it’s Too Late

The Ramadhan Bazaars in Malaysia are known for the myriads of food but unfortunately, the food markets often go viral...

Announcement

Latest Videos



TRENDING TODAY