Office of The Prime Minister of Malaysia, Main Block, Perdana Putra Building, Federal Government Administrative Centre, 62502 Putrajaya, MALAYSIA
1MDB rolls on and it is probably getting quite warm in Perdana Putra. But whether Najib Razak is feeling the heat is not so certain.
Wall Street Journal: U.S. prosecutors have linked the prime minister of Malaysia, a key American ally in Asia, to hundreds of millions of dollars allegedly siphoned from one of the country’s economic development funds, according to a civil lawsuit seeking the seizure of more than $1 billion of assets from other people connected to him.
The Justice Department filed lawsuits Wednesday to seize assets that it said were the result of $3.5 billion that was misappropriated from 1Malaysia Development Bhd., or 1MDB, a fund set up by Prime Minister Najib Razak in 2009 to boost the Malaysian economy. …. Among the Justice Department’s assertions: That some $1 billion originating with 1MDB was plowed into hotels; luxury real estate in Manhattan, Beverly Hills and London; fine art; a private jet and the 2013 film “The Wolf of Wall Street.” Among those behind the spending, the lawsuit alleges, was Riza Aziz, stepson of Mr. Najib.
BBC: Malaysian PM Najib Razak is facing pressure internationally and at home amid US allegations of massive fraud at state investment fund 1MDB. The fund was set up by Mr Najib in 2009 with the stated aim of boosting the Malaysian economy.
But US Attorney General Loretta Lynch said evidence showed it had defrauded Malaysians “on an enormous scale”. On Wednesday, US authorities moved to seize more than $1bn (£761m) in assets related to the fund. Mr Najib is not named in the papers and has consistently denied wrongdoing.
But he is identifiable as “Malaysian Official 1”, whose account allegedly received millions in funds originating from 1MDB. The $1bn the US hopes to seize would make up only a proportion of the more than $3.5bn (£2.6bn) allegedly diverted.
I haven’t heard – yet – that Leonardo DiCaprio is being investigated.