| Two German banks are named by the U.S. Justice Department in connection to Malaysian sovereign wealth fund 1MDB, and Volkswagen halts sales of most of its models in South Korea as it is investigated for falsifying emissions and noise data.
In the fallout to Asia’s version of the Panama Papers scandal, the U.S. Justice Department named two German banks in its investigation into money laundering from Malaysian sovereign wealth fund 1 MDB. Deutsche Bank allegedly transferred $700 million, and investigators found $55 million in fund money sitting in BHF, a Frankfurt bank. Neither bank is accused of wrongdoing, but any connection to Malaysian officials who used a public trust as private bank accounts is one too many...............................................Full Article: Source
|