The new Chairman of Britain’s NatWest Bank has reportedly claimed he only spent 1-3 hours a week advising PetroSaudi. However, his own email said the job took up half his time and was his ‘primary commitment” at the time of the PetroSaudi fraud against 1MDB …..
Swiss court hands down a seven year prison sentence for the PetroSaudi owner Tarek Obaid and six years for his accomplice Patrick Mahony – ten years after Sarawak Report first exposed their crimes against Malaysia……
Sheikh Sabah Jaber Al-Mubarak, the son of the Kuwait prime minister of the time, was first exposed as a co-conspirator of Jho Low by Sarawak Report in 2020. Last week the highest court upheld his ten year prison term along with that of his business partner and friend of Jho Low, Hamad Al Wazan, and lawyer Saud Abdelmohsan……
US DOJ announces another huge tranche of 1MDB cash will be returned to Malaysia by Jho Low as a further settlement over assets seized in the largest ever civil forfeiture case. The 1MDB theft by Low was originally exposed by Sarawak Report, whose editor has been sentenced prison by Malaysia for so-called ‘criminal libel’ relating to the case…..
1MDB has made its move to recover the $1.83 billion lost in the 1MDB joint venture with PetroSaudi. Success would appear to rely on a civil action that includes the white shoe law firm White & Case as defendants in the case. However, there is competition afoot from an continuing case in the United States to recover the bulk of the PetroSaudi assets made from Venezuela …..
Swiss 1MDB Prosecutors Spear Tarek Obaid’s Key Defence (that he was instructed by his King) With His Own Words…
After a fractious trial not only have the Swiss prosecutors demanded the maximum sentence be passed on the two PetroSaudi directors but they want them locked up immediately on the grounds they are a flight risk!…..
“It was our money. If the Saudi government wanted to do it this way, so be it.” Obaid stuns the Swiss court with his claim that it was Saudi Arabia that had sanctioned Jho Low’s $150 million in kickbacks which were paid to him by Good Star Limited out of stolen 1MDB money…..
The PetroSaudi boss and alleged mega-fraudster, Tarek Obaid, spent last week arguing in the Swiss Court that he needed protection from Saudi Arabia. A rebuttal by the court has undermined his story….
In high finance you get used to big sums and myriad deals. This could be why Patrick Mahony seemed to struggle to remember the purported $700 million loan he organised to be ‘paid back’ by 1MDB on the first day of the so-called Joint Venture project where he was the Chief Investment Officer ……
Drama as the first day of the Petrosaudi trial extended past 10pm at night amidst unprecedented scenes as the defendants’ lawyers bombarded the Swiss Federal Court with protests and demands for secrecy, claiming an ‘unfair’ prosecution against their wealthy clients…..
Yet another bank has been fined by the Swiss authorities for failing to flag suspicious transactions relating to the laundering of monies stolen from 1MDB. The revelations from the case have raised new questions about the role of the now notorious FBC Media and a Malaysian director of that company in assisting the fraudulent enterprise…
As the next set piece trial prepares to open on 1MDB in Switzerland new details are already starting to emerge about the role played by the PetroSaudi joint venture directors in the heist and what happened to the money they allegedly stole…
Is this a desperate measure to keep the Sarawak Report author out of Malaysia or the start of a new attempt to persuade INTERPOL to help incarcerate her in Malaysia for a ‘defamation’ that never was?…..
Did Najib and his lawyers shoot themselves in the foot by pulling their half-baked royal favour in advance of a far bigger sentence now in prospect over 1MDB? Despite the popular fury they will not be happy either. The all important waiver of guilt they had requested was rebuffed at the highest level, along with hopes of instant freedom……
Originally planned for February the much delayed prosecution of PetroSaudi’s directors over 1MDB is now scheduled to start on April 2nd in the Swiss courts. That’s just two weeks before the company’s former COO, Rick Haythornthwaite, is due to become the Chairman of one of the UK’s top banks. It should leave plenty of room for embarrassment as observers ask whether he was a complicit or merely an incompetent COO? ……
Almost ten years after the world was alerted to the Heist of the Century Swiss prosecutors have finally brought to trial two nationals identified at the heart of the conspiracy by Sarawak Report. Whistleblower Xavier Justo has called it an opportunity to show the world that Switzerland is “no longer a harbour for stolen money”……..
The new Chairman of Nat West, appointed as a “safe pair of hands” in the wake of the scandal over Coutts, has erased mention of his former employment as COO/President of 1MDB JV partner, PetroSaudi International. At the time he suggested an off-shore tax avoidance scheme for the payment of his bonus …. to be managed by Coutts Zurich, the bank later fined for money laundering Jho Low’s ‘Heist of the Century’ from 1MDB….
Why Sarawak Report is not placing bets on sighting Jho Low anytime soon, if ever…….
The high life turned into life on the run for Jho Lows gang and now these prime witnesses are turning themselves in……
Top UEA Ambassador to Washington Finds Himself Exposed Over Acknowledged 1MDB Kickbacks From Jho Low In A Swiss Court……..
1MDB Plus involved $2 BILLION more of Malaysia’s money to cover up the theft. Whilst the Malaysian authorities have tarried over action to get that money back, it seems that once again US investigators have got in ahead of the game, while the UN has cast opprobrium on Kuwait for its treatment of the whistleblower in this case…….
