Month Archives: October 2019


U.S. Agrees 1MDB Recovery Deal With Malaysian Jho Low

Equanimity, the US$250 million luxury yacht that fugitive Malaysian businessman Low Taek Jho allegedly bought with funds embezzled from 1Malaysia Development Berhad (1MDB) on Aug. 8, 2018, in Selangors, Malaysia. (Ore Huiying/Getty Images) The U.S. Justice Department on Oct. 31 reached a settlement deal with Malaysian financier Jho Low to recover almost $1 billion in funds the fugitive and his family had misappropriated from Malaysian investment fund 1MDB. High-level officials of 1Malaysia Development Berhad (1MDB) and associates including Low had siphoned over $4.5 billion belonging to the state-owned wealth fund from 2009 to 2015, the Justice Department said. Officials in Malaysia and the United Arab Emirates, Wall Street bank Goldman Sachs Group Inc and Deutsche Bank have all been caught up in probes into multi-year conspiracy. Low faced charges in both United States and MalaysiaRead More – Source


Australian Police Seize Ice Hidden in Chili Sauce Bottles Worth Around $300M

Four men have been arrested for smuggling 400 kilograms of crystal meth, or ice, worth an estimated A$300 million ($210 million) concealed in bottles of sriracha hot chili sauce from the United States, Australian police said on Thursday. A search of an air cargo consignment that had arrived at a Sydney freight depot from the United States on Oct. 15 found 768 bottles of sriracha chili sauce, “with presumptive testing returning a positive indicator for methylamphetamine (ice),” New South Wales state police said in a statement. Police arrested a 36-year old on Sunday and made two more arrests on Monday in the carpark of a hotel in Sydneys central business district. Photos released by the police also showed several cartons of the fiery sauce bottles stacked in the back of a car. Police seized eight boxes containing sriracha sauce bottles from the vehicle and a search of the hotel suite found another 26 boxes. The three Australian men have been charged with attempt to possess a commerc..


Australian Police Freeze Multi-Million Dollar Properties in Chinese Crime Link Probe

SYDNEY—The Australian Federal Police (AFP) said on Thursday it had frozen properties worth A$17.3 million ($11.9 million), including a “supersized mansion” as part of an investigation into money laundering by Chinese nationals. The investigation—titled Operation Gethen—followed request from the Chinese Ministry of Public Security (MPS) to identify two Chinese nationals suspected of laundering proceeds of crime in Australia, the AFP said in a statement. Chinese authorities believe the money was raised in China through real estate and bank loan fraud, the AFP said, without identifying the individuals. Australian police allege the two Chinese nationals moved about A$23 million of fraudulently obtained funds from China since late 2012, with the proceeds of crime used to purchase or develop numerous properties in Melbourne and Tasmania. The AFP on Tuesday restrained seven properties, including a newly constructed mansion in Melbourne and a 3,000-acre farmland on Tasmanias north-east coa..

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