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U.S. returns 300m dollars linked to Malaysian corruption scandal
The U.S. has repatriated another 300 million dollars stolen from the corruption-stained Malaysian state development fund known as 1MDB, authorities said on Wednesday.
In total, 620 million dollars has been returned to Malaysia, money the U.S. Justice Department said was laundered through financial institutions in the U.S., Switzerland, Singapore, and Luxembourg.
The money is part of the 4.5 billion dollars that the department has described as “allegedly misappropriated by high-level officials of 1MDB and their associates.”
Former Malaysian prime minister Najib Razak, who was stopped by police from fleeing the country after losing the 2018 elections, is embroiled in the scandal.
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Najib, who was president of 1MDB’s advisory board during his tenure as prime minister, was accused of stealing more than 700 million dollars from the fund.
Najib said the money was a donation from Saudi Arabia, which Low Taek Jho, a self-styled financier better-known as Jho Low, helped arrange.
Najib’s corruption trials are on hold due to the coronavirus pandemic and ensuing lockdown in place in Malaysia.
Current Malaysian Prime Minister Muhyiddin Yassin said on Wednesday that that Low had struck a deal with authorities in the U.S., where he has faced criminal charges.
“Fugitive Jho Low had reached a settlement with the Department of Justice pertaining to numerous forfeiture claims filed … against assets he had purchased using 1MDB monies,” the prime minister said.
The Malaysian Finance Ministry said the assets included a stake in a hotel, a yacht, and money used to produce the film “The Wolf of Wall Street,” which was made by a production company co-founded by Najib’s stepson.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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