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Final part in the Malaysian Scandal Series – Attorney Peter C. Rageas Helping Investors Recover Loses

While Malaysia and Abu Dhabi are moving to clean up one part of the scandal: who would pay back investors who bought the bonds, it isn’t out of the woods yet. The Abu Dhabi fund, the International Petroleum Investment Company, said in a stock exchange announcement in London that Malaysia’s finance ministry and 1MDB had agreed to pay 1.2 B to the Abu Dhabi fund by the end of the year as part of an agreement overseen by an arbitration panel in London.

The fund remains the subject of investigations in the United States and other jurisdictions.

American officials are still seeking to recoup $1B they say was ultimately spent in the United States on purchases like luxury homes in Manhattan and Los Angeles and expensive paintings by Picasso and Monet and on financing for the movie, “The Wolf of Wall Street.” The funds could be used to assist in covering losses by investors.

The US Securities and Exchange Commission continues in its fights against illicit finance.

If you have questions about Malaysian Scandal, Investment Fraud Schemes, broker misconduct, or about your broker’s management of your account, please contact our Law Firm at: 313-962-7777 for a case evaluation.