Translate
22 September 2015
A federal grand jury is examining allegations of corruption involving the Malaysian Prime Minister Najib Razak
The embattled prime minister of Malaysia, facing mounting political turmoil and a parade of inquiries at home and abroad into a sovereign wealth fund that he oversees, is now coming under the scrutiny of American investigators as well.
A federal grand jury is examining allegations of corruption involving the prime minister, Najib Razak, and people close to him, according to two people with knowledge of the investigation.
The inquiry, being run by a unit of the Justice Department that investigates international corruption, is focused on properties in the United States that were purchased in recent years by shell companies that belong to the prime minister’s stepson as well as other real estate connected to a close family friend, said the people knowledgeable about the case, who asked for anonymity because they were not authorized to discuss it. Investigators are also looking at a $681 million payment made to what is believed to be Mr. Najib’s personal bank account.
Pressure in Malaysia on Mr. Najib intensified on Monday as two separate courts dealt him legal setbacks. And the head of the country’s central bank, which is investigating transactions involving the sovereign wealth fund, said it had submitted its findings to the Malaysian attorney general.
“Right now, we know that the public wants answers to these questions, and they deserve to get the answers,” said the head banker, Zeti Akhtar Aziz, according to the Malaysian Insider news site.
The Justice Department investigation is still in its early days, and it could take years to determine if any federal laws were broken. It was opened partly in response to a n examination by The New York Times of condominiums atthe Time Warner Center in Manhattan whose ownership is hidden behind shell companies, according to the people with knowledge of the case.
In one article, The Times documented more than $150 million in luxury residential properties connected either to Mr. Najib’s stepson, Riza Aziz, or to the family friend, a businessman named Jho Low. Mr. Low, The Times found, has also been involved in business deals with Malaysia’s sovereign wealth fund, which is a government investment fund
That fund, called 1MDB, has run into serious financial problems in part because of aggressive borrowing. Investigators in several countries are examining allegations that money from the fund is missing. This month, Swiss authorities said they had frozen several individuals’ bank accounts, and inquiries are underway in Hong Kong and Singapore as well as in Malaysia.
Mr. Najib’s office did not comment on the Justice Department inquiry. A representative for Mr. Aziz said he was not involved in any investigation, adding that “there has never been anything inappropriate” about his business activities. A spokesman for Mr. Low said that he had not been notified that he was the subject of any investigations, and that his business “adheres to all relevant regulatory requirements.” A spokesman for the Justice Department declined to comment.
The details of the corruption allegations involving Mr. Najib and people connected to him are complex and multifaceted. Authorities in each country are focusing on the aspects that fall in their jurisdictions.
In the United States, officials are examining the real estate tied to Mr. Najib’s stepson and to Mr. Low, which could be seized if a case could be made that the properties had been purchased with the proceeds earned in corrupt practices, according to the people familiar with the investigation. The $681 million payment being investigated falls under United States jurisdiction because it was routed through Wells Fargo, an American bank.
The inquiry is being run by the Justice Department’s Kleptocracy Initiative, which has seized properties in the United States owned by relatives of politicians from Equatorial Guinea, Nigeria, South Korea and Taiwan.
Questions about where Mr. Low and the prime minister’s stepson — a movie producer behind films including “The Wolf of Wall Street” — obtained money for the United States properties have helped fuel political unrest in Malaysia, where several political leaders in the opposition and in Mr. Najib’s own party have called for the prime minister to step down. In the last month, there have been mass street protests, and a global network of nongovernmental organizations, the United Nations Convention Against Corruption, has joined the call for Mr. Najib’s resignation.
Mr. Najib has held fast, denying the corruption allegations and saying the $681 million payment, reported in July by The Wall Street Journal, was not improper. His office told The Times this year that he was not involved in the American properties connected to his stepson and to Mr. Low.
He has also struck back at his questioners and accusers. Over the summer, he dismissed several members of his administration, including the attorney general leading one inquiry, and he has barred several opponents from leaving Malaysia, including a member of his own party who was on his way to New York last week. That politician’s lawyer told The Times that he had planned to meet with the F.B.I.
In July, Mr. Najib also shut down a newspaper, The Edge, because of its reports of payments between 1MDB and Mr. Low. On Monday, though, a court in Malaysia reversed the action, ruling that the paper could resume publication as soon as Tuesday. In a separate decision on Monday, a judge ruled that a lawsuit calling for Mr. Najib to return the money that had been transferred into his personal account, and for seizure of his assets around the world, could move forward.
All of that muddies Mr. Najib’s international standing as he prepares to fly to London this week for a trade convention and then on to New York for the opening of the United Nations General Assembly. Since taking office in 2009, Mr. Najib has drawn his country closer to the United States and has used his annual United Nations trips to promote Malaysia as a moderate Muslim partner in the fight against terrorism and as a strategic Asian counterforce to China.
“Najib really, really values his international image, and he was going out of his way to curry favor with America and with the Europeans,” said John Malott, a United States ambassador to Malaysia in the 1990s. In the current climate, he added, “he can travel, but is he going to be shunned? Are people going to shake hands with him?”
The $150 million in American properties tied to the prime minister’s stepson and to Mr. Low include a penthouse at the Time Warner Center at Columbus Circle in Manhattan purchased for $30.55 million by a shell company connected to Mr. Low’s family trust. Companies tied to Mr. Low’s family have also purchased a $39 million mansion on Oriole Drive in the Hollywood Hills in Los Angeles, the L’Ermitage Hotel in Beverly Hills and part of the Park Lane Hotel in New York. Through shell companies, Mr. Aziz purchased a $33.5 million condominium at the Park Laurel on 63rd Street in Manhattan, a home in Beverly Hills known as the pyramid house for a gold pyramid in its garden, as well as other properties in the Los Angeles area.
The Park Laurel condo and the Beverly Hills home were owned by shell companies connected to Mr. Low’s family before being transferred to shell companies tied to Mr. Aziz. Shell companies — trusts, limited liability companies and other entities — are commonly used in real estate for privacy, wealth transfer or shared ownership. They also make it difficult, however, for law enforcement authorities and others to discover the true owners of property.
In the case of the Beverly Hills home, the property was transferred without any public filings, with Mr. Low’s family trust selling ownership of the shell company to a corporate entity controlled by Mr. Aziz, The Times found.
Mr. Low’s spokesman said this year that the transfers to Mr. Aziz were done at fair market value and at arm’s length.
New York City also appears to be home to at least one other person involved with Malaysia’s 1MDB sovereign wealth fund.
A condo at 23 East 22nd Street was purchased for $4.5 million in 2014 by a shell company called Cricklewood One Madison L.L.C. that listed Ai Swan Loo as its authorized signer, public records show. This summer, Malaysia’s Central Bank announced that a person named Jasmine Ai Swan Loo, a former executive involved with the 1MDB fund, was wanted for assistance in its investigation.
In New York, a lawyer for the Cricklewood declined to comment. Ms. Loo did not respond to a note The Times left for her at the condo building, but the concierge confirmed that a Jasmine Ai Swan Loo lived there.
Popular Posts - Last 7 days
-
Ringgit advances as domestic optimism offsets US rate concerns Bernama 18/11/2024 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzani...
-
Sugar overload: A growing threat to kidney function Bernama 16/11/2024 Approximately 3.8 mln Malaysians suffer from chronic kidney disease, ...
-
Warga emas maut ketika tukar tayar kereta di LKSA Astro Awani 18/11/2024 Tindakan seorang lelaki warga emas menghentikan keretanya di bahu ...
-
Bursa Malaysia dibuka tinggi, jejaki kenaikan di Wall Street dalam tempoh semalaman Bernama 22/11/2024 Keseluruhan pasaran adalah positif, d...
-
Bung Moktar, isteri diperintah bela diri tiga tuduhan rasuah Bernama 18/11/2024 Bung Mokhtar dan Zizie tiba di Istana Kehakiman, Putrajaya, ...
-
Malaysia to become leading hub for green investments, drive sustainable growth Astro Awani 20/11/2024 Minister of Housing and Local Governme...
-
More than 800 million adults have diabetes globally, many untreated, study suggests Reuters 17/11/2024 A person receives a free blood sugar...
Popular Posts - Last 30 days
-
McDonald's E. coli crisis reveals why vegetable contamination is 'harder problem' than beef Reuters 26/10/2024 Fresh produce is ...
-
CNN CBS AP BBC US PRESIDENTIAL ELECTIONS LIVE RESULTS: https://edition.cnn.com/election/2024/results/president?elec...
-
Kadar jangka pendek diunjurkan kekal kukuh disokong operasi BNM Bernama 04/11/2024 Hari ini, BNM akan menawarkan dua tender repo berbalik m...
-
Ringgit advances as domestic optimism offsets US rate concerns Bernama 18/11/2024 Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzani...
-
Sugar overload: A growing threat to kidney function Bernama 16/11/2024 Approximately 3.8 mln Malaysians suffer from chronic kidney disease, ...
-
Lyia Meta, the first Malaysian singer nominated in the Grammy Awards Astro Awani 11/11/2024 Lyia Meta continues to strengthen her position...
-
TikTok gives assurance to cooperate with MCMC, BNM to address cyberbullying, scams Bernama 14/11/2024 PM Datuk Seri Anwar Ibrahim meeting w...
-
The King of Spain was mocked, pelted with mud and eggs by flood victims Agency 04/11/2024 07:15 MYT King Felipe VI (with an umbrella) is pr...
Blog Archive
-
▼
2015
(4588)
-
▼
Sept 2015
(375)
- Bas persiaran mengalami kerosakan brek merempuh la...
- Malaysian champions Johor Darul Ta'zim's JDThopes ...
- Student Blackmailed After Nude Cam Session With Gi...
- 4 Robbers flee with gems worth RM600,000
- Tourism Minister Datuk Seri Nazri Abdul Aziz said ...
- Sunway Group expects its prized Sunway Lagoon them...
- 4 Robbers In Full Face Helmets Rob Jewellery Shop ...
- The Federal Court upheld the one-year jail term fo...
- Filem aksi, Polis Evo berjaya mengutip RM8 juta se...
- Sumber mendakwa bahawa lelaki dengan Zarina Anjoul...
- Penumpang feri Pulau Pinang hari ini terkejut sele...
- 4 of 8 men charged with the abduction and murder o...
- 7 strays that were culled tested positive for rabi...
- : A suspect was accidentally shot in a botched rob...
- Thai police reiterated the motive for a deadly bom...
- Singapore New 2016 Cabinet Announced
- Two police reports were lodged over false news tha...
- Bon Jovi Live in Kuala Lumpur 2015 Highlights & Sn...
- China defended the actions of its ambassador to Ma...
- Rahman Dahlan Advises Brother of PM - CIMB Chairma...
- Chinese Ambassador to Malaysia being summoned by W...
- 2 cedera manakala beberapa motosikal dan kereta ro...
- A couple will forever be grateful to 4 Students fo...
- Maldives President Yameen Abdul Gayoom escaped unh...
- Four men pleaded not guilty to causing a ruckus d...
- The PM must answer if he authorised the guarantee ...
- The Ringgit which was quoted at 4.4032 against the...
- Ferry passengers in Penang were surprised when a l...
- GRO Asing discekup di Bukit Bintang
- 6 men were charged with murder while an army docto...
- Pasangan penyanyi popular, Akim Ahmad dan Stacy sa...
- Naib Presiden Indonesia berpendapat rakyat negara ...
- BESTFBKL Blog Hits Over 15 Million Views Just on G...
- Seorang jemaah haji dari Malaysia dibawah kelolaan...
- The minimum wage of US$400 (RM1700) for Filipina m...
- Man killed when a cow being slaughtered during a s...
- Schools in Selangor, Kuala Lumpur, Putrajaya, Negr...
- Mercedes Lewis Hamilton extended his F1 World Cham...
- Wisma Putra Has Called Chinese ambassador to Malay...
- Haze API Reading Get's Worse Througout Malaysia
- Kejadian kebakaran Jemaah Haji di Mina dikatakan b...
- Daging Korban Tidak Boleh Dijadikan Sebagai Upah K...
- The racial undertones at the "red shirt" rally wer...
- 7 men, including a military doctor, will be charge...
- Seorang lelaki dipercayai dirasuk oleh sesuatu tel...
- Customer falls down with her shopping cart when a ...
- Taxi Driver Beat and Robs Australian Air Force Man
- Zahid Hamidi does not want street demonstrations t...
- Jamal Yunos released, he says arrest unfair, "I am...
- Quick Action by Police leads to recovery of Audi T...
- Police confirmed today that not a single member of...
- Foreigner arrested in Bangkok bombing 'confesses' ...
- Ali Tinju has distanced himself from Datuk Jamal Y...
- The Only Thing Stale Right Now is Your Ridiculous ...
- There will be a scheduled water disruption in Peta...
- Pakatan Harapan coalition gathered in Petaling Str...
- Saudi Suggests Pilgrims At Fault Over Hajj Deaths,...
- Tun Dr. Mahathir explains in his Blog why the need...
- Chinese Ambassador visits Petaling Street in show ...
- Tan Sri Lee Lam Thye says he was there when lots i...
- Police Swing Into Action in "pre-emptive strikes" ...
- Ali Tinju, who admitted to being one of the organi...
- Police arrested Sept 16 red shirt rally organiser ...
- Three suspected terrorists have been detained in t...
- A Fractured Nation by Channel News Asia - FULL EPI...
- Selangor's Single-stream separation more sensible ...
- MCA Want Police to Arrest Jamal Yunos for Sedition...
- Shahrizal Jaszle Diarah Bela Diri Berkhalwat
- At least 717 people taking part in the Hajj pilgri...
- United States Embassy in Kuala Lumpur has issued a...
- Nazir Razak: Moody's 'junk' rating due to negative...
- Malaysian Prime Minister Najib Razak Arrives in Ne...
- Cow escapes slaughter in IIUM, students in hot pur...
- Malaysian students abroad who are facing financial...
- Well done PDRM be brave and stand with the Rakyat,...
- Welcoming Eid Al Adha After The Mecca Crane Tragedy
- Former UMNO Batu Kawan division deputy chief Datuk...
- Police Action will be taken if the so-called red s...
- AG files appeal for Government against the Edge Group
- RHB Bank terbayar gaji staf-staf mereka 10x ganda ...
- Singapore Formula One GP sets up taskforce to revi...
- Cabinet must censure Rural Minister for making the...
- Jamal Yunos denies reports linking him to rape att...
- Police should investigate Jamal Yunos for inciteme...
- Woman shoplifts 70 items in five hours from hypermart
- Two Canadians, a Norwegian and a local woman have ...
- 28 Year Old Indonesian Maid Jailed for having sex ...
- Susah Nak Tidur? Guna Teknik 4-7-8 Untuk Dorong An...
- Cabinet should overturn decision of Rural Minister...
- Bank Negara Governor Zeti warns: No place to hide ...
- Sentencing of Former Selangor MB Khir Toyo Next Tu...
- Members of the public were shocked today by a vide...
- A federal grand jury is examining allegations of c...
- Polis Evo berjaya mencatat kutipan RM2.5 juta dala...
- Photos of a burnt-out Mercedes-Benz S400L Hybrid o...
- A Singapore court sentenced a Filipino nurse to fo...
- Ikan kerapu gergasi seberat 320kg yang dijual di p...
- 11 Benefits of Lemon Water You Didn’t Know About
- Wangs Walk Rioting: Two teenage boys were each fi...
- The nude, maggot-infested bodies of two septuagena...
-
▼
Sept 2015
(375)