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Winnipeg Free Press
an hour ago
- Business
- Winnipeg Free Press
Malaysian court drops money laundering charges against jailed ex-leader Najib Razak
KUALA LUMPUR, Malaysia (AP) — A Malaysian court dropped three money laundering charges against jailed former Prime Minister Najib Razak on Friday, in a case linked to the multibillion-dollar looting of a state fund. Najib was previously convicted in a graft case tied to the 1Malaysia Development Berhad state fund, or 1MBD, and began serving time in 2022, after losing his final appeal. He also faces other graft trials. The High Court's decision to drop the charges alleging Najib received 27 million ringgit ($6.3 million) in illegal proceeds to his bank accounts came after procedural delays by the prosecution, which saw the case dragging on for six years, Najib's lawyer Muhammad Shafee Abdullah said. Prosecutors could not give the court a timeline for when they will be ready for the trial, he added. Prosecutors reserve the right to revive charges against Najib and a discharge does not mean an acquittal, Shafee said. But, Najib was happy and can now focus on the main 1MDB trial, he added. Najib set up 1MDB shortly after taking power in 2009. Investigators allege that more than $4.5 billion was stolen from the fund and laundered by his associates to finance Hollywood films and extravagant purchases. The scandal upended Najib's government and he was defeated in the 2018 election. Last November, the High Court also discharged Najib and the former treasury chief in another 1MDB-linked corruption case after repeated delays by the prosecution. The pair can still be charged for the same offence in the future. In 2023, Najib was acquitted on separate charges of tampering with a government audit into 1MDB. Najib was sentenced to 12 years in jail in his first graft trial but the sentence was halved by the Pardon Boards in 2024. Najib alleged the board had issued a home arrest order for him to complete his sentence at home, but the case is still being heard in court. Monday Mornings The latest local business news and a lookahead to the coming week. Najib awaits his verdict in another key case that ties him directly to the 1MDB scandal, which has prompted investigations in the U.S. and several other countries. The defense in May closed their case on four charges of abuse of power to obtain over $700 million from 1MDB that went into Najib's bank accounts, and 21 counts of money laundering involving the same amount. Closing arguments are scheduled in October, after which the court will set a date for verdict.
Winnipeg Free Press
an hour ago
- Entertainment
- Winnipeg Free Press
Chris Brown pleads not guilty to a charge that he beat and injured a music producer in London
LONDON (AP) — Grammy-winning singer Chris Brown pleaded not guilty Friday to a charge that he beat and seriously injured a music producer with a bottle in a London nightclub in 2023. Brown, 36, pleaded not guilty to one count of causing grievous bodily harm with intent in Southwark Crown Court. Brown's friend and fellow musician Omololu Akinlolu, 38, who performs under the name 'Hoody Baby,' pleaded not guilty to the same charge. Prosecutors said Brown and Akinlolu assaulted producer Abe Diaw at a bar in the Tape nightclub in the swanky Mayfair neighborhood in February 2023. Brown allegedly launched an unprovoked attack on Diaw and hit him several times with a bottle and then punched and kicked him. The attack was caught on surveillance camera in front of a club full of people, prosecutors said.
Winnipeg Free Press
an hour ago
- Business
- Winnipeg Free Press
Billionaire Mark Walter, set to own controlling stake in Lakers, built fortune in investing
The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence. Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He's also co-founder and CEO of holding company TWG Global. Forbes estimates Walter's net worth is $6.1 billion. The publication ranked him at No. 216 on its Forbes 400 list last year. Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law. In the mid-1990s, he co-founded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter co-founded in the late 1990s. In addition to Guggenheim, Walter co-founded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance and Delaware Life. It also includes aerospace and defense technology company Shield AI. Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk's AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women's Hockey League and — through TWG Motorsports — ownership of several auto racing teams including Cadillac Formula 1. Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond and OneGoal.
Winnipeg Free Press
an hour ago
- Politics
- Winnipeg Free Press
Thai prime minister visits border with Cambodia after leaked conversation triggers resignation calls
BANGKOK (AP) — Thailand's Prime Minister Paetongtarn Shinawatra visited the border with Cambodia on Friday as she faced resignation calls following a leaked phone call between her and Cambodia's former leader discussing recent border tensions. Paetongtarn traveled to a border town in northeastern Ubon Ratchathani province, near a small contested territory with Cambodia where a brief confrontation between the two sides on May 28 killed one Cambodian soldier. A statement from Thailand's Government House said Paetongtarn's visit was aimed at boosting morale among soldiers who are working hard to protect the country's sovereignty and interests. Several groups of activists said Friday that they would rally next week to demand Paetongtarn's resignation. Cambodia's Senate President Hun Sen on Wednesday released a 17-minute recording of a conversation with Paetongtarn. She could be heard telling Hun Sen not to listen to 'an opponent' in Thailand. It's believed to be a reference to regional Thai army commander Boonsin Padklang, who had publicly criticized Cambodia over the border dispute. Before the leak, Paetongtarn had already been criticized for a perceived soft stance toward Cambodia, especially by right-wing nationalists who are longtime foes of her father, former Prime Minister Thaksin Shinawatra. During Friday's visit, Paetongtarn was filmed walking alongside Boonsin, the commander of the 2nd army area who oversees the border area including the site of the recent clash, in an apparent display of unity between the government and the military. Thailand's military plays a major role in politics. It has staged 13 coups since Thailand became a constitutional monarchy in 1932. Paetongtarn's father, Thaksin, was ousted in a coup in 2006, and Thaksin's sister, Yingluck Shinawatra, who became prime minister in 2011, was also toppled by the military in 2014.
Winnipeg Free Press
an hour ago
- Sport
- Winnipeg Free Press
Why three-time world champion Kaori Sakamoto will retire after the 2026 Winter Olympics
TOKYO (AP) — Kaori Sakamoto, the three-time figure skating world champion, will retire after next year's 2026 Winter Olympics in Milan-Cortina, she said Friday. The 25-year-old Japanese star won an Olympic bronze medal in the 2022 Winter Olympics in Beijing and took the silver medal in the world championships in March with gold to American Alysa Liu. Sakamoto acknowledged that age is catching up with her. 'I feel like I have less than a year left,' the Japanese news agency Kyodo quoted her as saying in Kobe, Japan. 'I'll be 29 at the following Olympics (in 2030), which is out of the question. I'll try to bring things to a close the year I turn 26.' ___ AP sports:
