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U.S. Maps 1MDB Fraud Trail From Kuala Lumpur to Hollywood

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posted on Jul, 20 2016 @ 06:02 PM

“Unfortunately and tragically, a number of corrupt officials treated this public trust as a personal bank account,” Attorney General Loretta Lynch said at a news conference in Washington. The civil action and asset seizures represent the “largest single action ever brought” by the Justice Department’s six-year-old Kleptocracy Asset Initiative, she said.

No, Ms. Lynch is not referring to the Clinton Foundation. She is referring to a scheme in which government officials and private individuals utilized international banking companies to launder hundreds of millions of dollars.

Some of the money was handled by international banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Standard Chartered Plc and Deutsche Bank AG.

Hm, some of those names sound familiar, do they not?

The U.S. complaints also lay out how a handful of global banks, while not accused of wrongdoing, were ensnared as hundreds of millions bounced between a web of shell companies. Money was pilfered from the government fund based on false representations made by 1MDB officials and representatives of the shell companies, prosecutors said. Even when bank officials raised questions about the beneficiaries of various accounts, compliance departments were unable to detect or halt the alleged fraud.

Gee, it certainly seems that these banks really should have known that something nefarious was afoot. I wonder if the fees associated with the handling of this amount of money perhaps made some auditors a little hard of seeing?

Goldman Sachs said in a statement: “We helped raise money for a sovereign wealth fund that was designed to invest in Malaysia. We had no visibility into whether some of those funds may have been subsequently diverted to other purposes.”

I wonder what other banks had to say?

Deutsche Bank declined to comment as did JPMorgan, which was also mentioned in the documents. Standard Chartered said it is cooperating with all relevant investigations and declined to comment further.


What says ATS?

posted on Jul, 20 2016 @ 06:24 PM
a reply to: jadedANDcynical

Sorry I'm tired so I'll add what I can.
My question is "The Wolf of Wallstreet " is part of this?
I caught this earlier.

"Production costs on Leonardo DiCaprio film was just a piece of the pie allegedly stolen from a Malaysian government investment fund
The U.S. Justice Department is attempting to seize more than $1 billion in assets, including proceeds from “Wolf of Wall Street,” from a Malaysian wealth fund associated with the Hollywood production company Red Granite Pictures."
edit on 20-7-2016 by Bigburgh because: (no reason given)

Per The Wrap😊
edit on 20-7-2016 by Bigburgh because: (no reason given)

After re-reading your presentation and my find, yes it is.
Good find👍
edit on 20-7-2016 by Bigburgh because: (no reason given)

edit on 20-7-2016 by Bigburgh because: Tired and I'm posting crap. 😊

posted on Jul, 20 2016 @ 07:48 PM
a reply to: jadedANDcynical
1Malaysia Development Berhad scandal

Fundraiser Link

edit on 20-7-2016 by Tellurian because: (no reason given)

posted on Jul, 20 2016 @ 08:04 PM
a reply to: Tellurian

Interestingly enough, this is from a speech he gave in 2011:

I would like to emphatically state that, those who strap explosives on their bodies and blow themselves up are not martyrs. They do not represent Islam.

From email #C05787789.

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