Hornbill Unleashed

January 10, 2017

Now, Aussie cops jump on 1MDB probe bandwagon

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

The Australian Federal Police (AFP) are investigating whether proceeds connected to 1MDB have reached their shore.

According to The Australian, the AFP is evaluating whether any Australian citizen, resident or company had breached proceeds-of-crime laws.

“AFP is assisting foreign law enforcement partners in their investigations. Given this matter is the subject of evaluation, it is not appropriate to comment further,” a spokesperson told the newspaper.

The report states that AFP are assisting either Swiss, American or Singaporean authorities in their investigations into funds allegedly siphoned from 1MDB.

News on Australia’s role in the 1MDB probe comes just a week after Prime Minister Najib Abdul Razak left the country, where he and his family spent holidaying.

Previously, the Australian Securities and Investments Commission (Asic) had shut down a company, Avestra Asset Management, which was accused of handling money that originated from 1MDB.

Avestra was said to have connections with Cayman Islands-registered entity called Bridge Global Absolute Returns Fund SPC.

According to The Wall Street Journal, 1MDB had put US$2.32 billion, said to be proceeds from their previous botched deal with PetroSaudi International, in the fund in 2012.

During the public accounts committee investigations in 2015, witnesses had testified that the funds were managed by little-known Avestra.

Recently, the Singaporean court was told that former BSI banker Yeo Jiawei had an extensive property portfolio in Australia.

Yeo, who was accused of being the personal banker for Malaysian businessman and key 1MDB figure Jho Low, was eventually convicted for tampering with witnesses involved in Singapore’s probe into money laundering involving 1MDB

Source : @ Malaysiakini


1 Comment »

  1. The Devils on the loose the caretaker are punished

    Comment by Salim — January 10, 2017 @ 2:08 PM | Reply

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