AMBank/ANZ transferred USD 220 million to 1 MDB laundering vehicle Good Star -Basic checks seem to be ignored, ANZ board and managers further implicated in 1 MDB related AML/CTF breaches

by Ganesh Sahathevan

This is a continuation to yesterday's Good Star story, and earlier stories on ANZ and AMBank.


In a special investigative report Reuters revealed: 

For the past year, the Malaysian government has said a company called Good Star Ltd, which received $1.03 billion from the scandal-hit 1MDB investment fund, was owned by the fund's joint venture partner, PetroSaudi International Ltd.

Now an official with knowledge of a regulatory investigation has confirmed what Malaysia's central bank has recently asserted: Malaysian financier Low Taek Jho was the sole owner of Good Star during its five years as a company.

"What I can say for sure is that Jho Low is the exclusive beneficial owner of Good Star," the official said.


In response the London-based law firm of Carter-Ruck, speaking on behalf of PetroSaudi, said in an emailed statement: 

"Our clients categorically deny any wrongdoing in relation to the Joint Venture with 1MDB, and they have made clear that all funds invested by 1MDB in the Joint Venture were returned, with profits.":
"Our clients categorically deny any wrongdoing in relation to the Joint Venture with 1MDB, and they have made clear that all funds invested by 1MDB in the Joint Venture were returned, with profits."


The carefully worded statement is careful to exclude any reference to Good Star and iIt does seem as if PetroSaudi is happy to leave 1 MDB and PM Najib to their own devices. The same could be said of AMBank and  ANZm for as this diagram shows, AMBank and its ANZ managers were an integral part of the relevant transactions.

Close up - follow the trail in green into Jho Low's Good Star!



END

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