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1Malaysia Development Berhad Scandal
The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is an ongoing corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. Although it began in 2009 in Malaysia, the scandal's global scope implicated institutions and individuals in politics, banking, and entertainment, and led to criminal investigations in a number of nations. The 1MDB scandal has been described as "one of the world's greatest financial scandals" and declared by the United States Department of Justice as the "largest kleptocracy case to date" in 2016. A 2015 document leak reported in ''The Edge'', '' Sarawak Report'', and ''The Wall Street Journal'' showed that Malaysia's then-Prime Minister Najib Razak had channeled over RM (about US$) into his personal bank accounts from 1MDB, a governmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1mdb Logo
1Malaysia Development Berhad (1MDB; ) is an insolvent Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated). In 2015, the company became the subject of a major international corruption scandal, with evidence pointing to money laundering, fraud, and theft. A lawsuit filed by United States Department of Justice (DOJ), alleged that at least US$3.5 billion has been stolen from Malaysia's 1MDB state-owned fund. US attorney-general Jeff Sessions had described it in an international conference as "kleptocracy at its worst". In September 2020, the alleged amount stolen had been raised to US$4.5 billion and a Malaysian government report listed 1MDB's outstanding debts to be at US$7.8 billion. The scandal implicated Malaysian prime minister Najib Razak, contributing to the 2018 election loss of his party and his eventual trial and imprisonment. As of 6 August 2022, in an ongoing effort to fight global kleptocracy, the U.S. Department of J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Najib Razak
Mohammad Najib bin Abdul Razak (, ; born 23 July 1953) is a Malaysian politician who served as the sixth Prime Minister of Malaysia from 2009 to 2018. In 2020, he was convicted of corruption in the 1Malaysia Development Berhad scandal, one of the largest money-laundering and embezzlement scandals in history. He is the son of former prime minister Abdul Razak Hussein. Najib served as the chairman of the Barisan Nasional (BN) coalition from April 2009 to May 2018 and as the president of the United Malays National Organisation (UMNO) from November 2008 to May 2018. However, the coalition experienced an unprecedented defeat in the 2018 general election, attributed to corruption charges involving Najib and his family, which eroded public trust in the ruling party. The introduction of the Goods and Services Tax, widely regarded as unpopular, also significantly contributed to the decline in support. Najib was elected to the Parliament of Malaysia in 1976, at the age of 23, re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lobbying In The United States
Lobbying in the United States is paid activity in which special interest groups hire well-connected professional advocates, often lawyers, to argue for specific legislation in decision-making bodies such as the United States Congress. It is often perceived negatively by journalists and the American public; critics consider it to be a form of bribery, influence peddling, or extortion.Robert Reich, June 9, 2015, Salon magazineRobert Reich: Lobbyists are snuffing our democracy, one legal bribe at a time Retrieved May 30, 2017, "...This second scandal is perfectly legal but it's a growing menace ... the financial rewards from lobbying have mushroomed, as big corporations and giant Wall Street banks have sunk fortunes into rigging the game to their advantage...."Mike Masnick, April 12, 2012, Tech DirtIs Lobbying Closer To Bribery... Or Extortion? Retrieved May 30, 2017, Lobbying is subject to complex rules which, if not followed, can lead to penalties including jail. Lobbying has be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cinema Of The United States
The cinema of the United States, primarily associated with major film studios collectively referred to as Hollywood, has significantly influenced the global film industry since the early 20th century. Classical Hollywood cinema, a filmmaking style developed in the 1910s, continues to shape many American films today. While French filmmakers Auguste and Louis Lumière are often credited with modern cinema's origins, American filmmaking quickly rose to global dominance. As of 2017, more than 600 English-language films were released annually in the U.S., making it the fourth-largest producer of films, trailing only India, Japan, and China. Although the United Kingdom, Canada, Australia, and New Zealand also produce English-language films, they are not directly part of the Hollywood system. Due to this global reach, Hollywood is frequently regarded as a transnational cinema with some films released in multiple language versions, such as Spanish and French. Contemporary Hollyw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riza Aziz
Riza Shahriz bin Abdul Aziz, better known as Riza Aziz, is a Malaysian film producer and the co-founder of Red Granite Pictures, a Los Angeles–based film production company. Early life and education Riza Shahriz bin Abdul Aziz was born on 1 January 1980 to Abdul Aziz Nong Chik and Rosmah Mansor in Malaysia. In 1987, his mother married politician Najib Razak who would later serve as Prime Minister of Malaysia, making him Najib Razak's stepson. His sister, also born to Abdul Aziz Nong Chik and Rosmah Mansor, is Azrene. Riza studied at the London School of Economics and obtained a BS degree in government and economics and an M.S. in politics. Career Riza worked from 2000 until 2002 with the accounting organization KPMG for two years, and then at HSBC in London from 2005 until the 2008 financial crisis. In 2010, Riza co-founded Red Granite Pictures, an American film finance, development, production and distribution company, with producing partner Joey McFarland. Aziz served as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rosmah Mansor
Rosmah binti Mansor ( Jawi: روسمه بنت منصور; born 10 December 1951) is the second wife of former Prime Minister of Malaysia, Najib Razak. Like her husband, she was implicated in the 1Malaysia Development Berhad scandal (1MDB). On 1 September 2022, she was found guilty of corruption in relation to a school electricity project, fined $303m and sentenced to ten years imprisonment. On 19 December 2024, a Malaysian high court acquitted Rosmah Mansor of seventeen counts of money laundering and tax evasion due to insufficient evidence. Early life and education Rosmah received her secondary education at Kolej Tunku Kurshiah, Negeri Sembilan. Rosmah was formerly married to Abdul Aziz Nong Chik. They have two children, Riza Aziz and Azrene Soraya. In 1987, she married Najib Razak and they have two children, Nooryana Najwa and Mohd Norashman, and have amassed a huge amount of wealth, which Rosmah claimed to have saved since childhood. Corruption 1MDB scandal Rosmah ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wolf Of Wall Street (2013 Film)
''The Wolf of Wall Street'' is a 2013 American epic biographical black comedy crime film co-produced and directed by Martin Scorsese, written by Terence Winter, and based on Jordan Belfort's 2007 memoir. It recounts Belfort's career as a stockbroker in New York City and how his firm, Stratton Oakmont, engaged in rampant corruption and fraud on Wall Street, leading to his downfall. The film stars Leonardo DiCaprio as Belfort; Jonah Hill as his business partner and friend Donnie Azoff; Margot Robbie as his second wife, Naomi Lapaglia; Matthew McConaughey as his mentor and former boss Mark Hanna; and Kyle Chandler as FBI special agent Patrick Denham portraying Gregory Coleman. It is DiCaprio's fifth collaboration with Scorsese. DiCaprio and Warner Bros. acquired the rights to Belfort's memoir in 2007, but production was halted due to content restrictions. It was later produced by the independent Red Granite Pictures. The film was shot in New York in late 2012, usi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Red Granite Pictures
Red Granite Pictures was an American film production and distribution company, co-founded by Riza Aziz and Joey McFarland in 2010. Its productions included ''The Wolf of Wall Street'' and '' Dumb and Dumber To''. It was dissolved in 2018 after being implicated in the 1Malaysia Development Berhad corruption scandal, having been financially backed by the scandal's key figure, Jho Low. History Red Granite Pictures made its debut with '' Friends with Kids'', a romantic comedy written and directed by Jennifer Westfeldt. They then executive-produced the thriller '' Out of the Furnace'' as well as the 2013 film '' The Wolf of Wall Street''. The latter was directed by Martin Scorsese and stars Leonardo DiCaprio, Margot Robbie and Jonah Hill. The film is based on the memoir of the same name by former stockbroker Jordan Belfort. Red Granite Pictures then produced films such as '' Dumb and Dumber To'' and the 2017 film '' Papillon'' which was based on the best-selling autobiograph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equanimity (yacht)
''Draak,'' previously known as ''Tranquility'' and ''Equanimity'', is a superyacht launched at the Oceanco yard in Alblasserdam, with Oceanco responsible for the exterior design, while Winch Design worked on the interior. The yacht was allegedly purchased by Malaysian financier Jho Low using money stolen from the Malaysian sovereign wealth fund 1MDB. It was seized by the Malaysian authorities in 2018, judicially sold to the Genting Group in early 2019, and renamed ''Tranquility''. It was then sold to Gabe Newell in September 2023, and renamed ''Draak.'' Design The length of the yacht is and the beam is . The draught of ''Draak'' is . The steel hull is strengthened to Ice Class E, with the superstructure made out of aluminium with teak laid decks. The yacht is built to Registro Italiano Navale, RINA classification society rules, issued by Cayman Islands. ''Draak'' was the first yacht designed and built to comply with the Passenger Yacht Code (PYC). The ships facilities incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab Emirates, seven emirates, with Abu Dhabi serving as its capital. It shares land borders with Oman to the east and northeast, and with Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran, and with Oman in the Gulf of Oman. , the UAE has an estimated population of over 10 million, of which 11% are Emiratis; Dubai is List of cities in the United Arab Emirates, its most populous city and is an international hub. Islam is the State religion, official religion and Arabic is the official language, while English is the most spoken language and the language of business. The United Arab Emirates Oil reserves in the United Arab Emirates, oil and natural gas reserves are the world's List of countries by pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia, the largest in the Middle East, and the List of countries and dependencies by area, 12th-largest in the world. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Bahrain, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to Saudi Arabia–Yemen border, the south. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt and Israel. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of Geography of Saudi Arabia, its terrain consists of Arabian Desert, arid desert, lowland, steppe, and List of mountains in Saudi Arabia, mountains. The capital and List of cities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Bank
An offshore bank is a bank that is operated and regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that provide financial services to nonresidents on a big scale can be referred to as offshore financial centres. OFCs often also levy little or no corporation tax and/or personal income and high direct taxes such as duty, making the cost of living high. With worldwide increasing measures on CTF ( combatting the financing of terrorism) and AML ( anti-money laundering) compliance, the offshore banking sector in most jurisdictions was subject to changing regulations. Since 2002 the Financial Action Task Force issues the so-called FATF blacklist of "Non-Cooperative Countries or Territories" (NCCTs), which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
