Tag: asset recovery
-
Malaysia eyes $7B asset recovery from banks and law firms tied to 1MDB
Malaysia targets $7B in asset recovery from international institutions The Malaysian government has escalated its drive to recover assets linked to the 1Malaysia Development Bhd (1MDB) scandal, with a focus on international banks and law firms believed to have facilitated or benefited from transactions tied to the state-backed fund. As the country grapples with a…
-
Malaysia Targets $7B 1MDB Asset Recovery from Global Firms
Overview: A Bold Push to Recover 1MDB Funds Facing a substantial debt burden from the 1Malaysia Development Bhd (1MDB) saga, Malaysia is intensifying efforts to claw back assets linked to the scandal. The government has signaled a focus on international financial institutions and professional firms accused of facilitating the misappropriation, signaling a shift toward proactive…
-
Global Crackdown Unmasks 5 Scam Kingpins Over Four Years: A Turning Point in Financial Crime
Overview: A Decade of Deception Exposed Over the past four years, a coordinated wave of international investigations and enforcement actions has peeled back the veil on some of the world’s most influential scam operators. Five masterminds—whose reach spanned continents and sectors—have been exposed, signaling a significant shift in how governments, financial institutions, and law enforcement…
-
From Gold Bars to Bank Raids: 2025’s Fierce Crackdown on Corruption in Malaysia
Introduction: A Year of Unprecedented Scrutiny The year 2025 has etched itself into Malaysia’s political memory as a turning point in the ongoing battle against corruption. Under the Madani government, authorities launched a spate of high-profile investigations and enforcement actions that stretched from glittering gold reserves to the everyday banking sector. This sweeping crackdown signaled…
-
1MDB Art Restitution: Malaysia Regains Looted Artworks
Introduction: The return of 12 artworks tied to a global scandal The Malaysian Anti-Corruption Commission (MACC) has announced a significant development in the fight against corruption: twelve artworks once linked to the 1MDB scandal are set to return to Malaysia. The decision comes after a coordinated effort with international partners, including the United States Department…
-
DOJ Eyes Civil Forfeiture in Cabral Assets Case Amid Probing DPWH Links
DOJ Considers Civil Forfeiture to Recover State Assets The Department of Justice (DOJ) in the Philippines is weighing the use of civil forfeiture to recover assets allegedly tied to government officials connected with the Department of Public Works and Highways (DPWH). The move signals a broader strategy to pursue corruption probes through asset recovery, even…
-
DOJ Weighs Civil Forfeiture in Cabral Case for Asset Recovery
DOJ Signals Interest in Civil Forfeiture Amid Cabral Case The Department of Justice (DOJ) has signaled that civil forfeiture proceedings could be pursued to recover assets alleged to be connected to the Cabral case, which centers on a former Department of Public Works and Highways (DPWH) official. While no final decision has been announced, prosecutors…
-
DOJ: Forfeiture Cases Against Cabral Can Still Move Forward
DOJ Indicates Civil Forfeiture Options Remain Open The Department of Justice (DOJ) has signaled that civil forfeiture actions can still be pursued in cases connected to the assets of the late Department of Public Works and Highways (DPWH) official tied to the Cabral investigation. This development underscores the government’s continued commitment to recovering proceeds believed…
-
BOC Launches Second Public Bid for Discayas’ Luxury Car Fleet Amid Fraud Allegations
Second Public Auction on the Horizon for Discayas’ Luxury Fleet The Bureau of Customs (BOC) has announced that it will proceed with a second public auction of a batch of luxury vehicles linked to the Discaya family. Authorities allege that the vehicles were imported and registered in the country through fraudulent means, prompting the government…
-
Two Suspects Spent S$70 Million on London Properties While on the Run in 2023, Singapore Probe Finds
Overview Two suspects linked to a S$3 billion money-laundering case spent about S$69.8 million on properties in London while evading Singapore authorities in 2023. The revelation comes as investigative reporting by The Straits Times, in collaboration with other outlets, pieces together the timeline of a high-profile fugitive operation that drew global attention to the scale…