Tue, May 24, 2022
A A A
Welcome mteam
RSS

Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, People

With Kleptocrats Untouchable, America Goes Big on Another Strategy: Taking Their Stuff Instead

Posted on 23 September 2016

Accused of involvement in stealing billions from Malaysia’s sovereign wealth fund, Prime Minister Najib Razak did what autocratic leaders around the world do when scandal is in the air. He cleared house. In the space of a day last July, he fired his deputy prime minister and attorney general and sidelined members of a parliamentary committee looking into the apparent theft.
With the press increasingly muzzled and the country’s opposition leader behind bars, Najib appeared to have weathered the crisis unscathed. That is, until the United States stepped in. On July 20, the US Department of Justice announced it was launching a case to recover more than US$ 1 billion in assets out of a total of about $3.5 billion allegedly stolen from the sovereign wealth fund, 1Malaysia Development Berhad (1MDB)………………………………………Full Article: Source


 Article link

This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
May 2022
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031