Malaysia

Najib Razak: 1MDB corruption trial of former Malaysian PM postponed | World news – Business Article

The corruption trial of the former Malaysian prime minister Najib Razak over charges related to a multibillion-dollar scandal at the state fund 1MDB has been postponed, in a blow to efforts to bring the disgraced politician to justice. He had been due to go on trial on Tuesday for the first time over allegations linked to his involvement in the looting of the 1MDB fund, in which more than $4.5bn (£3.5bn) of state money was embezzled and spent lavishly in…

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Deloitte fined over company linked to scandal-hit 1MDB | Business – Business Article

Deloitte has been fined 2.2m ringgitt (£415,000) by Malaysian regulators for failures in its audit of a firm linked to the scandal-ridden state fund, 1MDB. The Securities Commission Malaysia said Deloitte was reprimanded because it failed to report the irregularities detected in the Sukuk Murabahah Programme, an Islamic bond issued by Bandar Malaysia Sdn Bhd (BMSB). Deloitte was the statutory auditor for BMSB and its holding company 1Malaysia Development Berhad Real Estate (a subsidiary of state fund 1MDB) for the…

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