Archive for February 3rd, 2017



Disapproval of Trump’s recent executive orders ranged from 55 percent to 60 percent.

All three of President Donald Trump’s recent executive orders have earned majority disapproval ratings among Americans, according to a new Gallup poll released Thursday afternoon.

Arguably the most controversial order came on January 27, when Trump banned Syrian refugees and immigrants from seven majority-Muslim countries from entering the United States. Since then, Americans in cities from coast to coast have gathered in airports and streets to protest the ban, while the White House defends the president’s actions. Even some fellow Republicans have publicly criticized the ban. Read the rest of this entry »


First step to Save Malaysia from global kleptocracy is to end “global pretence” that 1MDB scandal has been resolved and ceased to be an issue

The first step to Save Malaysia from global kleptocracy is to end the “global pretence” that the international multi-billion dollar 1MDB money-laundering scandal had been resolved and ceased to be an issue.

This was what the Prime Minister, Datuk Seri Najib Razak had promised more than a year ago.

In his meeting with some 1,000 UMNO divisional leaders and selected representatives of NGOs on 14th June 2015, Najib gave an assurance that the controversy surrounding the state investment arm 1MDB will be resolved by year-end.

In his 2016 New Year message on 31st December 2015, Najib told Malaysians that his RM50 billion 1MDB and RM2.6 billion donation twin mega scandals had been resolved and were no more issues.

Najib could not be more wrong, as illustrated by the decision yesterday of the Swiss Financial Market Supervisory Authority (FINMA) ordering Coutts & Co., which is owned by the Royal Bank of Scotland, to surrender 6.5 million francs (RM29.1 million) in illegal profits from transactions linked to 1MDB. Read the rest of this entry »

1 Comment

Coutts ordered to pay back SFr6.5m of profits over 1MDB

Jeevan Vasagar in Singapore
Financial Times
3rd Feb 2017

Swiss financial supervisor sanctions bank over lapses linked to Malaysian fund

Swiss authorities have accused Coutts, the private bank, of repeatedly ignoring internal warnings over its dealings with a businessman who has been linked to a plot to loot billions of dollars from 1MDB, the Malaysian state investment fund.

Numerous “high-risk” transactions were processed through a Coutts account opened by the Malaysian businessman in Zurich, including the use of $35m for visits to casinos and the purchase of luxury services such as chartering yachts, according to the Swiss inquiry.

Finma, the Swiss financial regulator, ordered Coutts to pay back profits of SFr6.5m, which were allegedly generated unlawfully. It is also considering enforcement proceedings against bank employees.

The Swiss action is the latest step in a global regulatory crackdown against banks involved in the 1MDB scandal. Read the rest of this entry »

No Comments