US suit piles pressure on Najib
FBI says Malaysians 'defrauded on an enormous scale'; US AG calls global scam 'an international conspiracy to launder funds stolen from 1MDB'
Singapore
MALAYSIANS are demanding Prime Minister Najib Razak step up and be transparent about scandal-ridden 1MDB after the United States Department of Justice (DOJ) all but named him in a civil suit seeking the seizure of over US$1 billion worth of assets.
The amount is less than a third of the US$3.5 billion that it claims was misappropriated from the state- owned development fund and used to purchase luxury properties in the US and UK, a yacht, a Bombardier jet and paintings by Vincent van Gogh and Claude Monet.
The filing of the suit after months of painstaking investigations has put Mr Najib squarely under the spotlight although his inner circle remains steadfast in his defence.
Attorney-General Mohd Apandi expressed his concerns at the insinuations and allegations made against Mr Najib, and was quick to "clarify that at no point" in the DOJ claim "is the prime minister named as a defendant or has been alleged to have committed any criminal wr…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise