Myanmar city construction / Korean conglomerates fraud / 1MDB recovery overseas

Transparency in Delayed $2B Development Project Requested in Lower House.  Despite the agreement of the Eco Green City project in Myanmar being signed two years ago, no start appears to have been made on it and the revenue-sharing deal between the government and the private company remains unclear.

The Irrawaddy:


Two Employees of South Korean Conglomerate Charged with Defrauding U.S. Government in Army Base Construction (Press release).  “Two employees of SK Engineering & Construction Co., Ltd. (SK), a large multinational corporation based in the Republic of Korea (South Korea), were charged with participating in a scheme to defraud the United States by submitting fraudulent subcontracts to conceal bribes and kickbacks paid to an American public official, in relation to U.S. Army construction contracts in South Korea.”

US Department of Justice


Malaysian official asks Goldman Sachs for $600M fraud refund.  Shares of the Wall Street powerhouse got clobbered after a top Malaysian official claimed the bank owed the country a “full refund” of $600 million for its role in an international fraud masterminded by financier Jho Low.

Kevin Dugan/New York Post

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