The Mauritius financial regulator stopped 1MDB defaulters from buying a bank in the Island Republic, thus thwarting Jho Low’s dreams to own a bank, a move that would have eased the siphoning of the Malaysian sovereign fund’s money.
Wall Street Journal today said the Mauritius regulator blocked the transaction telling the FBI about the bid involving ex-Goldman partner (Tim Leissner) who is connected to Malaysian Jho Low.
In late 2016, former Goldman Sachs Group Inc. partner Tim Leissner, who had been the primary Goldman executive to handle the bank’s 1MDB account, and Thai businessman Phengphian Laogumnerd, a friend of Mr. Low’s, worked together in an effort to buy Qatari-owned Century Banking Corp. of Mauritius, said WSJ.
The story first broke on the TISG news site based in Singapore- theindependent.sg – which wrote that the 1MDB people tried to buy a bank or transfer billions of dollars through Mauritius, but that the deal fell apart due to regulatory issues.
Starting in Malaysia, a scandal involving the 1MDB fund set up by Prime Minister Najib Razak now involves at least 10 countries, including the U.S.
A WSJ investigation – aided by the Sarawak Report’s breaking of the story and its publication of official documents on the illicit transactions that took place under the 1MDB, shows how money allegedly misappropriated from 1MDB moved through global wealth centers.
These monies, in their billions of US dollars, were then used to buy real estate, art, and other assets around the world, including in New York and Beverley Hills.