BEN BUTLER, Melbourne and AMANDA HODGE South East Asia correspondent
The Australian
April 27, 2017

Two Gold Coast men involved in a funds management business linked to Malaysia’s 1MDB scandal are to be banned from corporate life for a decade over their mismanagement of Australian investors’ money.

Federal Court judge Jonathan Beach yesterday said he would make orders banning Paul Rowles and Clayton Dempsey from running companies or offering financial services when he hands down a full judgment at a later date.

Mr Rowles is listed in court documents as a director of a mysterious Cayman Islands entity at the centre of the 1MDB scandal, Bridge Global Absolute Return Fund.

1MDB, Malaysia’s sovereign wealth fund, previously claimed $US2.3 billion of promissory notes connected to its investment in an oil joint venture, PetroSaudi, were stashed with BGARF. Read the rest of this entry »

Independent
Singapore
April 30, 2017

With reports that the US Department of Justice (DOJ)- which is looking into the role of Goldman Sachs Group’s in raising almost US$6 billion (S$8.3 billion) for Malaysia’s 1MDB investment fund – is asking questions about money flowing through accounts linked to Tim Leissner, a surprise might be in store.

That is to say, the DOJ is seriously looking into the money trail that moved in between accounts held by Tim Leissner, the husband of Kimora Lee Leissner, also known as Kimora Lee Simmons.

The money trail, said a source, may lead to an incognito banking institution in the most unsuspecting offshore financial services centre in Africa. Read the rest of this entry »