Embezzlement

A Malaysian court on Tuesday ordered jailed former Prime Minister Najib Razak to pay $1.3 billion to SRC International, a former unit of scandal-linked state fund 1MDB, after finding him liable for losses incurred by the company.

Hungary has recovered and returned less than a fifth of EU funds flagged for potential fraud over the past decade, according to data from the bloc’s anti-fraud watchdog reported by the Financial Times. 

Florida shell companies and virtual office addresses are at the center of an expanding international investigation into at least $260 million in funds tied to Argentina’s top soccer authority.

Italian authorities have seized assets worth about €20 million in Tuscany that investigators say were purchased with money embezzled from actor Ursula Andress.

North Sea oil executive Francesco Mazzagatti could soon be the subject of a worldwide asset freeze stemming from a London lawsuit alleging he siphoned funds from former business partners tied to an Iranian petrochemicals business.

Hungary’s long-serving Prime Minister Viktor Orbán is facing mounting political pressure ahead of an April 12 election as a sprawling estate in his home village becomes a flashpoint for opposition claims of corruption.

Banco Master SA’s former chief executive Daniel Vorcaro was returned to custody for a second time in roughly three months as a widening probe into the collapsed lender added allegations of threats, intimidation, and illegal access to sensitive law-enforcement data.

Secret audio recorded in Madrid in 2017 captures “shadow bankers” laying out a plan to launder millions of dollars tied to corruption at Venezuela’s state oil company, including a proposed bond swap designed to evade anti-money laundering controls

Lebanese prosecutors have charged former central bank governor Riad Salameh with alleged embezzlement of $44.8 million, nearly ten months after a court decision to refer him to trial, according to OCCRP. 

Malaysia’s High Court sentenced ex-Prime Minister Najib Razak to 15 years in prison after convicting him on 25 charges of money laundering and abuse of power linked to the looting of the 1MDB sovereign-wealth fund, The Wall Street Journal reported.