Jho Low
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Malaysian Anti-Corruption Commission MACC Believes $6.5 Billion 1MDB Mastermind Jho Low & Fellow Suspects are Hiding in Macau

1st June 2023 | Hong Kong

Malaysian Anti-Corruption Commission (MACC) had been quoted to believe that $6.5 billion 1MDB Mastermind Jho Low & fellow suspects are hiding in Macau (China).  One suspect (Kee Kok Thiam) had been arrested (3/5/23) after being deported from Macau (China).   In 2023 April, Grammy awards winner “Killing Me Softly” (Fugues, Hip Hop Group) Pras Michel had been found guilty of conspiring with alleged mastermind of $6.5 billion 1MDB scandal Jho Low, receiving $20 million to capture photo with United States President Barrack Obama in 2012 and $70 million to lobby United States to drop investigations of Jho Low.  Pras Michel was convicted for violating the Foreign Agents Registration Act (Maximum sentence is 20 years in jail) and providing false statements & witnesses tempering.  Pras Michel’s lawyer David Kenner will appeal the verdict (deadline 9th June 2023).   Earlier in March 2023,  Roger Ng had been sentenced to 10 years jail in the $2.7 billion Malaysia 1MDB bribery & money laundering scheme.  More info below. 

” Malaysian Anti-Corruption Commission MACC Believes $6.5 Billion 1MDB Mastermind Jho Low & Fellow Suspects are Hiding in Macau “

 



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Grammy Awards Winner “Killing Me Softly” Pras Michel Found Guilty of Conspiring with Alleged Mastermind of $6.5 Billion 1MDB Scandal Jho Low, Received $20 Million to Capture Photo with United States President Barrack Obama in 2012 & $70 Million to Lobby United States to Drop Investigations of Jho Low

Jho Low

27th April 2023 – Grammy awards winner “Killing Me Softly” (Fugues, Hip Hop Group) Pras Michel had been found guilty of conspiring with alleged mastermind of $6.5 billion 1MDB scandal Jho Low, receiving $20 million to capture photo with United States President Barrack Obama in 2012 and $70 million to lobby United States to drop investigations of Jho Low.  Pras Michel was convicted for violating the Foreign Agents Registration Act (Maximum sentence is 20 years in jail) and providing false statements & witnesses tempering.  Pras Michel’s lawyer David Kenner will appeal the verdict (deadline 9th June 2023).   Earlier in March 2023,  Roger Ng had been sentenced to 10 years jail in the $2.7 billion Malaysia 1MDB bribery & money laundering scheme.  More info below.

 

 

Alleged Mastermind of $6.5 Billion 1MDB Scandal Jho Low Paid $20 Million to Capture Photo with United States President Barrack Obama in 2012, Grammy Awards Winner Pras Michel Received $20 Million over 9 Months & $70 Million to Lobby United States to Drop Investigations of Jho Low

20th April 2023 – Alleged mastermind of $6.5 billion Malaysia 1MDB scandal Jho Low was testified in court by Pras Michel to have paid him $20 million to capture photo with United States President Barrack Obama in 2012.  For the photo capture (White House Christmas party), Grammy awards winner Pras Michel received $20 million over 9 months and at least $70 million to lobby United States to drop investigations of Jho Low.  Earlier in March 2023,  Roger Ng had been sentenced to 10 years jail in the $2.7 billion Malaysia 1MDB bribery & money laundering scheme.  More info below.

 

 

Goldman Sachs Roger Ng Ordered by United States Court to Forfeit $35.1 Million Gains from Malaysia 1MDB Fraud, Failed to Convince Court No Penalty Should be Given as Malaysia Had Seized $35 Million from His Family 

Former Goldman Sachs Banker Roger Ng

25th March 2023 – Goldman Sachs investment banker Roger Ng had been ordered by a United States court to forfeit $35.1 million gains from Malaysia 1MDB fraud, failing to convince the court that Malaysia government had already seized $35 million from his family and thus should not be penalized further.   Earlier in March 2023,  Roger Ng had been sentenced to 10 years jail in the $2.7 billion Malaysia 1MDB bribery & money laundering scheme, together with former Goldman Sachs Southeast Chairman Tim Leissner paying $1 billion in bribes to 12 officials in Malaysia & UAE to obtain businesses for Goldman Sachs and laundered proceeds through United States including funding hollywood movie Wolf of Wall Street.   More info below.

 

 

Goldman Sachs Roger Ng Sentenced to 10 Years Jail in $2.7 Billion 1MDB Bribery & Money Laundering Scheme, With Goldman Sachs Southeast Chairman Tim Leissner Paying $1 Billion in Bribes to 12 Officials in Malaysia & UAE to Obtain Businesses for Goldman Sachs and Laundered Proceeds Through United States Including Funding Hollywood Movie Wolf of Wall Street

11th March 2023 – Former Goldman Sachs investment banker Roger Ng had been sentenced to 10 years jail in the $2.7 billion Malaysia 1MDB bribery & money laundering scheme, together with former Goldman Sachs Southeast Chairman Tim Leissner paying $1 billion in bribes to 12 officials in Malaysia & UAE to obtain businesses for Goldman Sachs and laundered proceeds through United States including funding hollywood movie Wolf of Wall Street.   United States Department of Justice: “According to court documents, between approximately 2009 and 2014, Ng Chong Hwa, aka Roger Ng, of Malaysia, and his co-conspirators laundered billions of dollars misappropriated and fraudulently diverted from 1MDB, including funds 1MDB raised in 2012 and 2013 through three bond transactions it executed with Goldman Sachs. As part of the scheme, Ng and his co-conspirators, including Tim Leissner, the former Southeast Asia Chairman and participating managing director of Goldman Sachs, conspired to and did pay more than $1 billion in bribes to 12 government officials in Malaysia and the United Arab Emirates to obtain and retain lucrative business for Goldman Sachs, including the 2012 and 2013 bond deals. They also conspired to and did launder the proceeds of their criminal conduct through the U.S. financial system, including funding major Hollywood films such as “The Wolf of Wall Street,” and purchasing, among other things, a $51 million Jean-Michel Basquiat painting from New York-based Christie’s auction house, a $23 million diamond necklace from a New York jeweler, millions of dollars in Hermès handbags from a dealer based on Long Island, and luxury real estate in Manhattan.”  Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division:  “Today, Roger Ng was sentenced for his role in a massive and egregious bribery and money laundering scheme involving the bribery of high-level foreign officials in Malaysia and the United Arab Emirates and theft of billions of dollars meant to benefit the Malaysian people. The Justice Department remains firmly committed to holding accountable individuals who engage in corruption, undermine the rule of law, and abuse our financial system to launder their illicit funds.  This sentence sends a strong message to criminals around the world:  if you violate our laws, we will bring you to justice.”  Earlier in March 2023, Roger Ng had requested no jail sentence (spent 6 months jail in Malaysia, waived right to contest extradition to United States in 2018, On curfew since bail) while prosecutors pushed for 15 years jail sentence, with the sentenced expected to be passed on 9th March 2023.  More info below.

 

Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division:  “Today, Roger Ng was sentenced for his role in a massive and egregious bribery and money laundering scheme involving the bribery of high-level foreign officials in Malaysia and the United Arab Emirates and theft of billions of dollars meant to benefit the Malaysian people. The Justice Department remains firmly committed to holding accountable individuals who engage in corruption, undermine the rule of law, and abuse our financial system to launder their illicit funds.  This sentence sends a strong message to criminals around the world:  if you violate our laws, we will bring you to justice.”

U.S. Attorney Breon Peace for the Eastern District of New York: “Roger Ng was a central player in a brazen and audacious scheme that not only victimized the people of Malaysia, but also undermined the public’s confidence in governments, markets, businesses and other institutions on a global scale.  Today’s sentence serves as a just punishment for the defendant’s crimes and a stern warning that there is a significant price to pay for corporate corruption.”

Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division: “This sentencing sends a strong message that those who abuse the U.S. financial system for their own gain will be held accountable.  The FBI and our domestic and international partners remain committed to combating international corruption and will continue to investigate and pursue those who perpetrate complex criminal schemes for profit.”

Special Agent in Charge Tyler Hatcher for the IRS Criminal Investigation (IRS-CI):  “The 1MDB case and the sentencing of Mr. Ng highlight IRS Criminal Investigation’s enforcement efforts to abolish international bribery schemes.  U.S. financial institutions have safeguards in place to combat these frauds and Mr. Ng intentionally circumvented these safeguards. This sentence is a testament to what happens when you break U.S. laws to bribe international government officials. This case represents a model for domestic and international cooperation in significant cross-border money laundering investigations and we are proud of our domestic and international law enforcement partners in this complex financial investigation.”

 

 

Goldman Sachs Roger Ng Sentenced to 10 Years Jail in $2.7 Billion 1MDB Bribery & Money Laundering Scheme

Former Goldman Sachs Investment Banker Sentenced in $2.7B Bribery and Money Laundering Scheme.  Defendant Conspired to Violate the Foreign Corrupt Practices Act (FCPA) and Commit Money Laundering in Connection with 1MDB Scheme

9th March 2023 – A former managing director of The Goldman Sachs Group Inc. (Goldman Sachs) was sentenced today to 10 years in prison for his role in a multibillion-dollar bribery and money laundering scheme involving Malaysia’s state-owned investment and development fund, 1Malaysia Development Berhad (1MDB).

According to court documents, between approximately 2009 and 2014, Ng Chong Hwa, aka Roger Ng, of Malaysia, and his co-conspirators laundered billions of dollars misappropriated and fraudulently diverted from 1MDB, including funds 1MDB raised in 2012 and 2013 through three bond transactions it executed with Goldman Sachs. As part of the scheme, Ng and his co-conspirators, including Tim Leissner, the former Southeast Asia Chairman and participating managing director of Goldman Sachs, conspired to and did pay more than $1 billion in bribes to 12 government officials in Malaysia and the United Arab Emirates to obtain and retain lucrative business for Goldman Sachs, including the 2012 and 2013 bond deals. They also conspired to and did launder the proceeds of their criminal conduct through the U.S. financial system, including funding major Hollywood films such as “The Wolf of Wall Street,” and purchasing, among other things, a $51 million Jean-Michel Basquiat painting from New York-based Christie’s auction house, a $23 million diamond necklace from a New York jeweler, millions of dollars in Hermès handbags from a dealer based on Long Island, and luxury real estate in Manhattan.

Ng and his co-conspirators, including Low Taek Jho, aka Jho Low, a wealthy Malaysian socialite, used Low’s close relationships with high-ranking government officials in Malaysia and the United Arab Emirates to obtain and retain business for Goldman Sachs through the promise and payment of more than a billion dollars in bribes. In the course of executing the scheme, Ng, with others at Goldman Sachs, conspired to and did circumvent the investment bank’s internal accounting controls. Through its work for 1MDB during that time, Goldman Sachs received approximately $600 million in fees and revenue, while Ng received $35 million for his role in the bribery and money laundering scheme. In total, Ng and his co-conspirators misappropriated more than $2.7 billion from 1MDB.

In August 2018, Leissner pleaded guilty to conspiring to launder money and conspiring to violate the FCPA. Leissner agreed to forfeit $43 million and shares of stock valued at more than $200 million and is awaiting sentencing. Low was indicted in November 2018 and remains a fugitive.  In October 2020, Goldman Sachs and Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia), its Malaysian subsidiary, admitted to conspiring to violate the anti-bribery provisions of the FCPA in connection with the scheme. Goldman Sachs entered into a deferred prosecution agreement with the Criminal Division’s Fraud Section and Money Laundering and Asset Recovery Section (MLARS), and the U.S. Attorney’s Office for the Eastern District of New York. GS Malaysia pleaded guilty in the U.S. District Court for the Eastern District of New York. Goldman Sachs paid more than $2.9 billion as part of a coordinated resolution with criminal and civil authorities in the United States, the United Kingdom, Singapore, and elsewhere.  In April 2022, Ng was found guilty by a jury of conspiring to violate the FCPA and conspiring to launder billions of dollars.

The FBI’s International Corruption Unit and IRS-CI investigated the case.

Chief Brent Wible of the Criminal Division’s MLARS, Chief David Last of the Fraud Section’s FCPA Unit, and Assistant U.S. Attorneys Alixandra E. Smith, Drew G. Rolle, and Dylan Stern for the Eastern District of New York prosecuted the case. Former Chief of MLARS’ Bank Integrity Unit Jennifer Ambuehl also prosecuted the case. The Justice Department’s Office of International Affairs provided critical assistance.  The department also appreciates the significant cooperation and assistance provided by the U.S. Securities and Exchange Commission, and the Board of Governors of the Federal Reserve System along with the Federal Reserve Bank of New York. The department also appreciates the significant assistance provided by the government of Malaysia, including the Attorney General’s Chambers of Malaysia, the Royal Malaysia Police, NCB Interpol Malaysia, and the Malaysian Anti-Corruption Commission. The department also appreciates the significant assistance provided by the Attorney General’s Chambers of Singapore, the Singapore Police Force-Commercial Affairs Division, the Office of the Attorney General of Switzerland, the Judicial Investigating Authority of the Grand Duchy of Luxembourg, the Criminal Investigation Department of the Grand-Ducal Police of Luxembourg, the United Kingdom National Crime Agency, the United Kingdom Financial Conduct Authority, the United Kingdom Prudential Regulation Authority, the Attorney General’s Chambers of the Territory of the British Virgin Islands, and the Attorney General’s Office of the Bailiwick of Guernsey and the Guernsey Economic Crime Division.

The Criminal Division’s Fraud Section is responsible for investigating and prosecuting FCPA matters. Additional information about the Justice Department’s FCPA enforcement efforts can be found at www.justice.gov/criminal/fraud/fcpa.

The Bank Integrity Unit in MLARS investigates and prosecutes complex, multi-district, and international criminal cases involving financial institutions. The unit’s prosecutions focus on banks and other financial institutions, including their officers, managers, and employees, whose actions threaten the integrity of the individual institution or the wider financial system.

 

 

Goldman Sachs Roger Ng Requests No Jail While Prosecutors Push for 15 Years Jail Sentence, Found Guilty for $6.5 Billion 1MDB Corruption Scandal & Received $35.1 Million with Goldman Sachs Southeast Asia Chairman Tim Leissner Receiving $73.4 Million

4th March 2023 – Goldman Sachs Roger Ng has requested no jail sentence (spent 6 months jail in Malaysia, waived right to contest extradition to United States in 2018, On curfew since bail) while prosecutors pushed for 15 years jail sentence, with the sentenced expected to be passed on 9th March 2023.  Roger Ng, the only Goldman Sachs employee on trial, was found guilty for role in the $6.5 billion 1MDB corruption scandal and received $35.1 million in payout with Goldman Sachs Southeast Asia Chairman Tim Leissner receiving $73.4 million.  In 2022 April, Former Goldmans Sachs banker Roger Ng had been found guilty in the United States 1MDB trial and is facing a maximum of 30 years in jail.  Roger Ng (Age 49) is convicted of United States anti-bribery and money-laundering laws, while Goldman Sachs former Southeast Chairman Tim Leissner had already pleaded guilty, and is a key witness in the trial.  In total, Goldman Sachs had paid around $2.9 billion in fines for their role in 1MDB. More info below.

 

Former Goldman Sachs Banker Roger Ng Found Guilty, Faces 30 Years in Jail

Former Goldman Sachs Banker Roger Ng

15th April 2022 – Former Goldmans Sachs banker Roger Ng had been found guilty in the United States 1MDB trial and is facing a maximum of 30 years in jailRoger Ng (Age 49) is convicted of United States anti-bribery and money-laundering laws, while Goldman Sachs former Southeast Chairman Tim Leissner had already pleaded guilty, and is a key witness in the trial.  In total, Goldman Sachs had paid around $2.9 billion in fines for their role in 1MDB.

 

 

FBI Agent on 1MDB: Goldman Sachs Chairman Tim Leissner Took $73.4 Million, Malaysia PM Najib $756 Million & Jho Low $1.42 Billion

Earlier in 2022 March in the United States trial of Malaysia 1MDB, an FBI agent had testified that former Goldman Sachs Southeast Chairman Tim Leissner had received $73.4 million, ex-Malaysia Prime Minister Najib Razak had received $756 million and Jho Low had received $1.42 billion.  Of the $6.5 billion raised into 1MDB, more than 10 names had received funding including 2 other individuals Ex-Managing Director of Abu Dhabi International Petroleum Investment Khadem al-Qubaisi receiving $472.8 million and Goldman Sachs Roger Ng receiving $35.1 million.  The details were provided by FBI agent Eric Van Dorn (United States Federal Bureau of Investigation).  Ex-BSI Banker Kevin Swampillai also testified in a meeting in 2012 with Goldman Sachs Southeast Chairman Tim Leissner, Tim Leissner had communicated to him that it is BSI Bank’s responsibility to conduct the due diligence, instead of him answering questions to the background of business & funds. 

 

 

Former Goldman Sachs Chairman Tim Leissner $41,000 a Month Side Job in 2015 at Top Private Equity TPG Founder David Bonderman Family Office

Former Goldman Sachs Southeast Asia Chairman

(March 2022) Former Goldman Sachs Southeast Asia Chairman Tim Leissner has testified that he had a $41,000 a month side job in 2015 at the family office of David Bonderman (founder of top private equity firm TPG), while he is still a partner at Goldman Sachs without disclosing the conflict of interest.  The role was at Wildcat Capital Management, which manages the personal fortune of David Bonderman, who is estimated to have a fortune of $4.5 billion today with private equity firm TPG going public in January 2022.   In 2016, Tim Leissner left Goldman Sachs.  In a statement by Wildcat Capital Management: “Mr. Leissner was never a Wildcat employee.  He did serve as a consultant beginning in the summer of 2015 but was immediately terminated when the circumstances around his departure from Goldman Sachs became known.”  In the ongoing trial of Malaysia 1MDB, ex-Goldman Sachs Southeast Asia Chairman Timothy Leissner testified that he and ex-Goldman Sachs banker Roger Ng had arranged for ex-Malaysia Prime Minister Najib Razak 3 children to get jobs at Goldman Sachs and used their wives to front $35 million of kickbacks.  In the end, Nooryana Najwa Najib, daughter of Najib Razak through the introductions, secured a job at top private equity firm TPG Capital in the analyst program, as a role at Goldman Sachs could be a conflict of interest with the Malaysia government & Goldman Sachs.

 

Goldman Sachs Southeast Asia Chairman Tim Leissner Arranged Finance Jobs for Malaysia PM Najib Children, Wives Front Business to Receive $35 Million Kickbacks

Najib Razak, Prime Minister of Malaysia from 2009 to 2018

(February 2022) In the ongoing trial of Malaysia 1MDB, ex-Goldman Sachs Southeast Asia Chairman Timothy Leissner testified that he and ex-Goldman Sachs banker Roger Ng had arranged for ex-Malaysia Prime Minister Najib Razak 3 children to get jobs at Goldman Sachs and used their wives to front $35 million of kickbacks.  In the end, Nooryana Najwa Najib, daughter of Najib Razak through the introductions, secured a job at top private equity firm TPG Capital in the analyst program, as a role at Goldman Sachs could be a conflict of interest with the Malaysia government & Goldman Sachs.  In another statement by Timothy Leissner, to avoid detection of a $35 million kickback, Timothy Leissner and Roger Ng fabricated a story to disguise the payment with Roger Ng’s wife having invested into Timothy Leissner’s ex-wife businesses in China and the incoming $35 million was a return on the investment.  Roger Ng lawyer had defended the payment was a kickback and that their wives were in a genuine business relationship. 

 

 

Ex-Goldman Sachs Banker Roger Ng Receives $35 Million in 1MDB Kickbacks from Southeast Asia Chairman Timothy Leissner

Kuala Lumpur, Malaysia

United States prosecutors had presented in federal court opening trial on 14th February 2022 that ex-Goldman Sachs banker Roger Ng had received $35 million in  kickbacks from his then-boss Goldman Sachs Southeast Asia Chairman Timothy Leissner and alleged mastermind Jho Low for his role in the 1MDB Malaysia Sovereign Wealth Fund Scandal.  The defence by Roger Ng’s lawyer was the money belongs to his wife from a business venture with the ex-wife of Timothy Leissner.  The defence also described the $4.5 billion from 1MDB Malaysia state investment fund as “perhaps the single largest heist in the history of the world” but Roger had been made a scapegoat for failures at Goldman Sachs that enabled the fraud.   In 2010, the defendant Roger Ng had warned superiors that Jho Low  was a politically exposed person, and Goldman Sachs needs to exercise caution when dealing with Jho Low.  

 

 

Malaysia 1MDB

Malaysia Flag

Founded in 2009 shortly after Najib Razak became Malaysia’s Prime Minister, 1MDB (1Malaysia Development Bhd) was set up as a sovereign investment fund to finance infrastructure projects and related economic projects to spur economic growth in Malaysia.

It became a political and financial scandal as the key businessman Jho Low who is believed to have masterminded the plan, had diverted the 1MDB funds to fund his personal and associates’ lifestyle, including making the Hollywood movie: Wolf of Wall Street, buying a $250 million yacht (Equanimity) and $35 million Bombardier private jet, giving lavish gifts to Victoria secret model Miranda Kerr and Hilton hotel heiress Paris Hilton, investing in luxury real estates, paintings and many more.

 

 

Goldman Sachs $6.5 billion Bonds Underwriting

Goldman Sachs, United States

In July 2020, Goldman Sachs agreed to pay $3.9 billion to the Government of Malaysia to resolve all 1MDB criminal and regulatory proceedings.  The in-principle agreement to pay $3.9 billion to the Government of Malaysia, comprises of $2.5 billion direct payment and a further guarantee of at least $1.4 billion of assets that had been seized by governments worldwide.

With the $3.9 billion settlement, the Government of Malaysia will withdraw all criminal charges and no further charges will be brought against Goldman Sachs, its subsidiaries, or any of their employees, except for former employees Tim Leissner and Roger Ng.

This in-principle agreement settles Malaysia’s probe of Goldman Sachs role in raising $6.5 billion through 3 bond sales for 1MDB between 2012 and 2013.  The $6.5 billion bond sales was led by Tim Leissner, who was Goldman Sachs Southeast Asia Chairman.  The leading American investment bank received $600 million in fees, representing more than 9% of the transaction.  The more than 9% underwriting fee of the $6.5 billion bond sales paid to Goldman Sachs is unusually high in investment banking, with fees generally decreasing as the deal size gets larger.

 

 

Malaysia AmBank Group to Pay $700 Million

Kuala Lumpur, Malaysia

In March 2021, AMMB Holdings (AmBank Group) agreed to a $700 million (MYR 2.83 billion) global settlement for AmBank Group’s involvement in Malaysia’s sovereign wealth fund 1MDB.

The $700 million (MYR 2.83 billion) settlement amount is in addition to the $13.2 million (MYR 53.7 million) penalty already imposed by Bank Negara Malaysia (BNM) and paid by the AmBank Group.

 

 

Former Prime Minister of Malaysia Najib Razak Faces Bankruptcy Notice for $408 Million in Unpaid Taxes

Najib Razak, Prime Minister of Malaysia from 2009 to 2018

In April 2021, former Prime Minister of Malaysia from 2009 to 2018, was served with a bankruptcy notice for failing to pay $408 million (MYR 1.69 billion) in unpaid taxes.

Najib Razak is currently facing corruption and money laundering charges over suspected theft of billions of dollars from 1MDB.

In a Facebook post on 6th April 2021, Najib Razak commented (In Malay Language) that the bankruptcy notice is an attempt to destroy his political career.  If declared bankrupt, he will not be able to have an official role in politics, would lose his seat as a member of parliament and not stand as an election candidate in future elections.

 

 

Malaysia Sues JP Morgan, Deutsche and Coutts for $2.93 Billion, Receives $452 Million from United States

Kuala Lumpur, Malaysia

In May 2021, the Malaysia Government filed a combined 22 civil suits to recover $23 billion of assets, including $2.93 billion from JP Morgan ($800 million), Deutsche Bank ($1.1 billion) and Coutts ($1.03 billion).

Malaysia’s Ministry of Finance also announced receiving $452 million into Malaysia’s Assets Recovery Trust Account from the United States Department of Justice (DOJ), for funds seized related to the 1Malaysia Development Berhad (1MDB).

 

 

1MDB Recovered Funds, $3.97 Billion

In June 2021, the Malaysia Government has received $80 million of 1MDB seized funds from Deloitte PLT, with a total of $3.97 billion (MYR 16.386 billion) seized and repatriated 1MDB funds received to-date.

The recovered funds deposited into Malaysia’s Assets Recovery Trust Account under the custody of the Accountant General’s Department of Malaysia, will be used to repay and service 1MDB and SRC’s remaining debts.  The total of $3.97 billion (MYR 16.386 billion) seized and repatriated 1MDB funds to-date, excludes the $700 million (MYR 2.83 billion).  

[To date, the Government has repaid RM12.54 billion of 1MDB’s debt and RM3.1 billion of SRC’s debt. The balance of debt still outstanding, comprising the principal and coupon/ profit/ interest of bonds, Sukuk and term loans, currently total RM39.66 billion (1MDB) and RM2.57 billion (SRC).]

 

 




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