January 28, 2023

Key figure in 1MDB probe is arrested in Abu Dhabi

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KhademReuters1From asiaone

The WSJ had in April reported Qubaisi was previously restricted from leaving the United Arab Emirates and had his assets in the country frozen.

 However, a lawyer for Qubaisi declined to comment.

WSJ said US investigators were expanding their probe into Qubaisi’s dealings and funds they suspect he took control of through the alleged fraud, according to people familiar with the probe.

The Justice Department filed civil lawsuits last month seeking to freeze about US$100 million (S$134 million) of real estate in the US that he allegedly bought with money embezzled from 1MDB, a fund set up in 2009 to boost Malaysia’s economy.

IMAGE: Khadem Al Qubaisi, then Aarbar-Chairman Khadem Al-Qubaisi attends a news conference in Stuttgart, Germany March 23, 2009. Photo: Reuters

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