DoJ $73mn 1MDB Bribery in US

On Nov. 30, DoJ issued action in 1MDB bribery of US government.

  • Conspiracy to defraud US banks and launder funds controlled by Jho Taek Low.
  • International conspiracy to defraud US financial institutions and launder funds.
  • Billions of dollars were embezzled from 1Malaysia Development Berhad (1MDB).
  • Action sought forfeit and recovery of $73mn traceable to 1MDB fraud in the US.
  • Hundreds of millions were used to pay bribes to foreign officials, including US.
  • Follows DoJ Nov. 1, charges for Jho Low, and ex-Goldman officers.

US Laundering, Influence

  • Complaint alleges bank accounts were opened at US banks by Prakazrel Michel.
  • As well as former DoJ employee George Higginbotham with aim to receive tens
    of millions of dollars in funds from the overseas accounts controlled by Jho Low.
  • In opening accounts, made false, misleading statements, to US. financial firms.
  • Michel and Higginbotham tried to influence DoJ investigation of Low and 1MDB.
  • Higginbotham, as a DoJ employee, played no role in any aspect of investigation.
  • Failed to influence any aspect of the Department investigation of Low or 1MDB.

Guilty Plea

  • Higginbotham pleaded guilty, for his role in a conspiracy, to deceive the banks.
  • Employed at DoJ as a senior congressional affairs specialist from 2016 to 2018.