5 Burst results for "Stefania Palmer"

"stefania palmer" Discussed on FT News

FT News

08:13 min | 2 years ago

"stefania palmer" Discussed on FT News

"Hey, everyone. I wanted to tell you about a new podcast from Oppenheimer funds called mega trends, there are big investment opportunities. Beyond our borders. Mega-trends explores and explains those opportunities, I'm your host Minita Ahuja. I'm in a ward winning business, journalist and author. Tune in to hear me talk to the experts about thinking globally when it comes to investing. Subscribe to mega trends now on apple podcasts or wherever you listen. Hello from the newsroom of the financial times. In london. I'm Niamey RAV Nick. Malaysian prosecutors are seeking criminal fines of over three billion dollars and prison. Terms against Goldman Sachs Bank is implicated in the country's long-running one MD scandal to employ ease at the Wall Street investment Bank or accused of bribing Malaysian officials to secure involvement in the auction of six point five billion in bonds for one MVP in two thousand nine hundred twenty thirteen two thirds of which was allegedly misappropriated. Stefania? Palmer has been covering the story for the F T and she spoke to Tom Brady threat about the latest developments. Stafani tell us about the Malaysian charges. How far do they mirror charges brought against the Goldman bankers by the US department of Justice last month? They're actually very very similar, and it kind of indicates Malaysia somewhat has piggyback on what the DOJ has already announced in terms of charges. They target similar bankers. It's Tim lice ner. And Roger it's also the same some two point seven billion dollars. That is what the do j said was misappropriated from the bond. Proceeds issued by want him to be an arranged by Goldman. The judge said they were used to essentially bribe Malaysian officials, and that is the same points made by the Malaysian attorney general so it definitely seems like the DOJ announcement really helped Malaysia kickoff its own proceedings in a far bigger way far bigger than what we've seen so far so one of the buying because you mentioned Tim listeners in the US and his cooperating with the Justice department probe the other way. One Roger owned is in Malaysia and being detained that right? Exactly. So he tried to appeal he tried to acquire the rights of bail. But he was denied this rice. According to the local press and local court filings. And one of the main reasons was thought the judge said there was a risk that he might abscond and that could be obviously problematic. Also because the US has requested an extradition for Roger ten. We're still pending. This extradition hearing that Hoste happen in Malaysia. But for now Roger remains in remand, and essentially was arrested in Malaysia remains in custody. The one person that we haven't mentioned so far as Joe low is he in folded in this. He was the guy the center of the scandal. But we haven't heard or seen from him for quite some time. Exactly. So Jolo remains at large even though he was technically never employed by one MD beam. He definitely is deemed to be at the heart and the key architect of this entire frauds. He was. One of the people that was accused and was charged in the charges issued by Malaysia on Monday. But a spokesperson of deluge sense. A statement saying that's he believes he's not guilty. And that he doesn't want to deal with governments like Malaysia which she thinks or essentially targeting him for political purposes, we have no idea where he is. We can't say there are strong rumors that he might be in China. But this still has not been confirmed how to Jolo and Goldman tied together in this whole I on you. So essentially, Joe low has always been seen, according to court filings on also charge sheets that were distributed by the DOJ as being a very very close figure to some of the bankers, especially in licensing in Goldman. And they were always deemed to be together. Whether it was very important meetings. Allegedly Jolo was also sitting in some meetings with the former head of Goldman. Look blankfein as we also reports it, but Jolo has always been seen as the key figure linking one empty be to Goldman especially to bring about these financial transactions and house Goldman so responded to these latest stuck his ations. They say they obviously do not agree that they will continue fighting these accusations and that they're trying to cooperate as much as they can with authorities. You recently interviewed unwell Ibrahim who's expected to be Malaysia next prime minister. And he expressed his Gusta the way Goldman behave towards his country and suggested negotiations should be undertaken to recoup a substantial amount of losses. Let's hear clip from that interview. To do this all of Shinn's. That no, of course, demanding the commission to be done. But. Negotiations. Jinyu because the complicity woman sex has inactive faked been use by do I I'm db to give some sort of clubs to them, and therefore is a cost to the country. So positively to give all subsidy negotiations will begin Koop a substation among the losses to be given back to the people of this the scandal of the missing funds, of course, his wider than the bone sailing in question, how much money altogether, does Malaysia believe was stolen from the country's state investment fund. And what do we know about where the money went so allegedly four and a half billion dollars has gone missing from one MD be on it just found stir around a number of Bank accounts, all over the world and ended up being used for buying things. Like, custom jewelry more producing Hollywood movies as we know. Just like Bo the wolf of Wall Street, for example, ironically, also to bike very very expensive works of ours or luxury real estate, so what really makes this situation. What distinctive is the cross-border nature of? It's the intricacy of the network that was created to embezzle and siphon off these funds. But also just the vast array of objects dots were bolts with the money. They was one MTV's the scandal. Brought down the government of Nnaji Razzaq who founded the fund in two thousand nine he's facing his own charges. Although he denies any wrongdoing. Do you think the change of regime means the scandal will now be fully investigated? Absolutely. I mean after the elections in may was released night and day change in Malaysia. When it comes to addressing the one MD investigation. I mean under an Brazil took the people that were starting to investigate the one MD be affair while he was still in power lost their jobs. He moved them away from their responsibilities and also the Swiss attorney general, for instance, because Switzerland. It is also one adress diction that is investigating one MD because money has ended up also in Switzerland allegedly. The Swiss attorney general also made the point thoughts as soon as he met with the new attorney general and the new government in quality poor. It was a completely different reporter if pre elections in may it was hard to get Malaysia to collaborate in any way. Now, it's the key priority for the current ruling coalition. So I'm sure that there will be a for stronger efforts to dig deeper into the win him to be a fair, and how much more is the left to be uncovered. I think the big big question. It's not so much about quantity. It's more about some key players like Jolo. For instance, he remains at large even though there are authorities in Malaysia and Singapore that have called for his arrest. And if in any way, there's a possibility for Malaysia or any of the authorities thoughts are investigating want him to be to actually get a hold of him and make him become a key part in the investigation. It would be. A complete game changer. So I think that's the key missing toss. When all of this.

Malaysia Goldman Roger it Jolo DOJ Goldman Sachs Bank MD US attorney Joe low Minita Ahuja london Oppenheimer apple Stefania Hoste
Malaysia files charges against Goldman over 1MDB fraud

FT News

07:37 min | 2 years ago

Malaysia files charges against Goldman over 1MDB fraud

"Malaysian prosecutors are seeking criminal fines of over three billion dollars and prison. Terms against Goldman Sachs Bank is implicated in the country's long-running one MD scandal to employ ease at the Wall Street investment Bank or accused of bribing Malaysian officials to secure involvement in the auction of six point five billion in bonds for one MVP in two thousand nine hundred twenty thirteen two thirds of which was allegedly misappropriated. Stefania? Palmer has been covering the story for the F T and she spoke to Tom Brady threat about the latest developments. Stafani tell us about the Malaysian charges. How far do they mirror charges brought against the Goldman bankers by the US department of Justice last month? They're actually very very similar, and it kind of indicates Malaysia somewhat has piggyback on what the DOJ has already announced in terms of charges. They target similar bankers. It's Tim lice ner. And Roger it's also the same some two point seven billion dollars. That is what the do j said was misappropriated from the bond. Proceeds issued by want him to be an arranged by Goldman. The judge said they were used to essentially bribe Malaysian officials, and that is the same points made by the Malaysian attorney general so it definitely seems like the DOJ announcement really helped Malaysia kickoff its own proceedings in a far bigger way far bigger than what we've seen so far so one of the buying because you mentioned Tim listeners in the US and his cooperating with the Justice department probe the other way. One Roger owned is in Malaysia and being detained that right? Exactly. So he tried to appeal he tried to acquire the rights of bail. But he was denied this rice. According to the local press and local court filings. And one of the main reasons was thought the judge said there was a risk that he might abscond and that could be obviously problematic. Also because the US has requested an extradition for Roger ten. We're still pending. This extradition hearing that Hoste happen in Malaysia. But for now Roger remains in remand, and essentially was arrested in Malaysia remains in custody. The one person that we haven't mentioned so far as Joe low is he in folded in this. He was the guy the center of the scandal. But we haven't heard or seen from him for quite some time. Exactly. So Jolo remains at large even though he was technically never employed by one MD beam. He definitely is deemed to be at the heart and the key architect of this entire frauds. He was. One of the people that was accused and was charged in the charges issued by Malaysia on Monday. But a spokesperson of deluge sense. A statement saying that's he believes he's not guilty. And that he doesn't want to deal with governments like Malaysia which she thinks or essentially targeting him for political purposes, we have no idea where he is. We can't say there are strong rumors that he might be in China. But this still has not been confirmed how to Jolo and Goldman tied together in this whole I on you. So essentially, Joe low has always been seen, according to court filings on also charge sheets that were distributed by the DOJ as being a very very close figure to some of the bankers, especially in licensing in Goldman. And they were always deemed to be together. Whether it was very important meetings. Allegedly Jolo was also sitting in some meetings with the former head of Goldman. Look blankfein as we also reports it, but Jolo has always been seen as the key figure linking one empty be to Goldman especially to bring about these financial transactions and house Goldman so responded to these latest stuck his ations. They say they obviously do not agree that they will continue fighting these accusations and that they're trying to cooperate as much as they can with authorities. You recently interviewed unwell Ibrahim who's expected to be Malaysia next prime minister. And he expressed his Gusta the way Goldman behave towards his country and suggested negotiations should be undertaken to recoup a substantial amount of losses. Let's hear clip from that interview. To do this all of Shinn's. That no, of course, demanding the commission to be done. But. Negotiations. Jinyu because the complicity woman sex has inactive faked been use by do I I'm db to give some sort of clubs to them, and therefore is a cost to the country. So positively to give all subsidy negotiations will begin Koop a substation among the losses to be given back to the people of this the scandal of the missing funds, of course, his wider than the bone sailing in question, how much money altogether, does Malaysia believe was stolen from the country's state investment fund. And what do we know about where the money went so allegedly four and a half billion dollars has gone missing from one MD be on it just found stir around a number of Bank accounts, all over the world and ended up being used for buying things. Like, custom jewelry more producing Hollywood movies as we know. Just like Bo the wolf of Wall Street, for example, ironically, also to bike very very expensive works of ours or luxury real estate, so what really makes this situation. What distinctive is the cross-border nature of? It's the intricacy of the network that was created to embezzle and siphon off these funds. But also just the vast array of objects dots were bolts with the money. They was one MTV's the scandal. Brought down the government of Nnaji Razzaq who founded the fund in two thousand nine he's facing his own charges. Although he denies any wrongdoing. Do you think the change of regime means the scandal will now be fully investigated? Absolutely. I mean after the elections in may was released night and day change in Malaysia. When it comes to addressing the one MD investigation. I mean under an Brazil took the people that were starting to investigate the one MD be affair while he was still in power lost their jobs. He moved them away from their responsibilities and also the Swiss attorney general, for instance, because Switzerland. It is also one adress diction that is investigating one MD because money has ended up also in Switzerland allegedly. The Swiss attorney general also made the point thoughts as soon as he met with the new attorney general and the new government in quality poor. It was a completely different reporter if pre elections in may it was hard to get Malaysia to collaborate in any way. Now, it's the key priority for the current ruling coalition. So I'm sure that there will be a for stronger efforts to dig deeper into the win him to be a fair, and how much more is the left to be uncovered. I think the big big question. It's not so much about quantity. It's more about some key players like Jolo. For instance, he remains at large even though there are authorities in Malaysia and Singapore that have called for his arrest. And if in any way, there's a possibility for Malaysia or any of the authorities thoughts are investigating want him to be to actually get a hold of him and make him become a key part in the investigation. It would be. A complete game changer. So I think that's the key missing toss. When all of

Malaysia Goldman Roger It DOJ Jolo Goldman Sachs Bank MD United States Attorney Joe Low Stefania Palmer Tom Brady MVP F T Hoste
"stefania palmer" Discussed on FT Banking Weekly

FT Banking Weekly

04:50 min | 2 years ago

"stefania palmer" Discussed on FT Banking Weekly

"Studio today is David Crowe, our banking editor and down the line from Malaysia we have Stefania Palmer scientist Asia correspondent pulsa from New York. We have Laura Newnan US banking editor this week. We'll be discussing the latest ructions at Goldman Sachs as its Malaysian scandal. Deepens look at Standard Chartered as embarks on a buyback of shares. And finally an interview with Bob diamond, the former head of Barclays who is now investing on his own account through business. Atlas merchant capital, I o to Goldman Sachs and Stefania joins us from Columba. You Burke, a really interesting story on Tuesday morning that the premier-in-waiting and Ebrahim has gone pretty aggressively after Goldman in this long running saga about the one MD. And the agree just payments that were allegedly paid to Goldman Sachs for issuing them. Tell us what happened exactly essentially Anwar Ibrahim who should that been after current prime minister Monti Mohammed about a couple of years, essentially told me set Goldman should absolutely return significantly more than the six hundred million dollars at the Bank was paid for arranging three bone cells of for one MD the Malaysian state investment fund that is obviously now at the heart of one of the biggest financial scandals in history. And the main reasons thoughts on we're gave me or ops first of all the fees which to about ten to eleven percents. He found up to the exorbitant and indefensible, and then you also argued that this entire one of Dubya fear of which took Goldman is a part of is essentially a cost to the image of Malaysia. It's a cost to investments coming into the country, but also burden shouldered by the current government, which ousted not cheap Razaaq, the founder of one MD back in mate, we have to remember that the current coalition is also tackling quite an easy fiscal position. They've had to revise the twenty teen fiscal deficits from two point eight percent to three point seven percent in the latest budget, and they also face up to ten and a half billion dollars. In Dutch repayments actually linked to one MD. Where's this going from here? Do you think? I mean, clearly it's getting noisy all the time. Those various other actions, pending feels if on the ground in Malaysia younger is sent me mainting towards Goldman rather than dissipating the hope. Absolutely. I think they are hoping to target Goldman at the moment because it's obviously a case that is in full public view. It also comes on the back of the league est. Accusations coming from the department of Justice dots, essentially have said ops almost half of the six and a half billion dollars worth of one him to be the were arranged by Goldman where misappropriated the deal Jay has also accused two former bunkers of engaging in bribes toward Malaysian officials in order for the Bank to secure business from one to be. So there's definitely a sense here in Poland poor the top government officials are really just taking advantage into riding the wave of very strong momentum against Goldman, or at least putting very strong spotlight on how the Bank has been involved in all of this affair will. Let's get a perspective now from the other side of the world, Laura. You just heard from Stephania that. The Malaysian authorities are certainly ramping up pressure on Goldman is the same thing happening in New York as well. I think certainly the Bank is coming depression me, they continue to negotiate. With the deal Jay to see while sanctions of finding the firm Glenn to face as a result of this whole scandal. I think it seems reasonably likely will save these some sanctions a lot the control diesel internal work. They will probably look need some kind of a fine. The content of the fine is very much known of this have suggested that the financial penalty to go cooking basing that Goldman house to make up the entire of the to them or so that he's on a candidate for that with taking the one NTV raising mills paint this hundred million fees, which Scott that will get you to figure end she win to two point three billion of the very big number. That's Toby Specter's enough this point we don't know what kind of fine reconcilation the firm will face if any they made their goals other implications the firm, we don't we have a field with us. What we haven't said he's in the last few weeks ago voice has become under pressure..

Goldman Goldman Sachs Malaysia Stefania Palmer Laura Newnan New York Standard Chartered Anwar Ibrahim editor Jay Barclays David Crowe Toby Specter Bob diamond scientist Monti Mohammed Burke Ebrahim Razaaq
"stefania palmer" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:27 min | 2 years ago

"stefania palmer" Discussed on WNYC 93.9 FM

"Reason for Paul Being Chinese film reviewer thinks it might have been wise to. Spend some of the vast special effects budget on the script This films biggest problem is the story in fact there really isn't a story nobody knows what these characters are actually doing In contrast to assume another Chinese film released at the same time has been a phenomenal. Success dying to survive is a low budget drama based on a true story about. Attempts to, smuggle cancer drugs into China it cost around eleven million. Dollars and has already made over four hundred million Raymond Joe says it shows that directors shouldn't take Chinese audiences. For granted the spectacular crash of the movie is a cautionary tale for hot money that has been flowing into China's. Tinseltown the abundance of investment. Coupla with, an alarming lack of originality. Has led to such epic flops as Assira Critic Raymond Joe ending that report from Steven McDonnell in Beijing You're. Listening to NewsHour from. The BBC World Service I'm James Menendez. Let's head to Singapore now reports. Of a major cyber attack there is a pit of stolen the health records of one and. A half million people that's, about a quarter of the population. Let's talk to Stefania Palmer Singapore correspondent? For the financial times have you with? Us, on the program what do we know about this attack well we know that. Is definitely the, biggest attack, cyberattack ever happening in Singapore's. History it, is really I mean the numbers. Are just incredible I mean one and a half million people you said. It's about a quarter of, the entire population of the country but on top of that what is really remarkable is that the attackers have really specifically and repeatedly targeted the prime minister here and in terms of, sending his personal details and information on his outpatients Dispensed medicines yes so. So what exactly did did they take? Then how much health or rather how? Much, data on on people's health background did they manage to get hold of so. Essentially they what, they targeted, for the one and a. Half million patients was actually non-medical personal data. So things like name address gender race data's birth the actual medical records. Were notes amended our tampered, with but that was sort of the main rationale there are also data stolen in terms of a dispensed medicines for outpatients and those were around one hundred sixty thousand people The targeting of the prime minister's intriguing detail then what does, that tell us potentially about who might have carried this out so the government to your has not specified who the perpetrators, may, be and what's also, the intentions may have been but the did say thoughts I have shown that there was a deliberate. And. Targeted and very well planned attack and they definitely was not work of casual hackers or criminal guns so they have not come out and said specifically what kind? Of organization may have been behind this but you know a number of experts say that if if it's. Not casual hawkers or criminal, guns, there, is a. Possibility that it might be government, backed government backed and. Who who have fingers being pointed out that. China I I have to say no one is pointing any fingers now. Because they're quite cautious in terms of giving any Kind of ideas specifically because the Singaporean government. Has not come out with any specific statement, but, I guess if you look at the most high. Profile attacks that have happened in recent times I guess Russia China North Korea are the ones that, probably come to mind in the latest one has been the alleged Russian meddling with US presidential elections we also have the, China's, interference with upcoming Cambodian, elections so I guess those are the big three blade knees I guess in recent times Yeah A wealthy city state prides itself on stability. Security embarrassing is for the. Government To say I think it was quite. Surprising generally because they've actually, worked very. Very hard to ramp up defense systems they also pasta new cybersecurity active February so I think Singapore is actually generally known to be, one of. The country's at the forefront. Of the building up cyber cyber security a defensive so it's, actually quite surprising and I think one of the blow was speaking to set, maybe that's actually one of the reasons why the attacker attackers actually targeted Singapore especially. Precisely because it's always taken as an. Example of the best defenses against, cybercrime Stephanie many thanks for joining us today that was too, funny a poem a correspondent for the financial times. Speaking to us from Singapore.

Singapore China Singaporean government Raymond Joe prime minister Paul Stefania Palmer BBC NewsHour Beijing James Menendez Steven McDonnell US Russia North Korea
Cyberattack on Singapore health database steals details of 1.5 million, including PM

BBC Newshour

05:27 min | 2 years ago

Cyberattack on Singapore health database steals details of 1.5 million, including PM

"Reason for Paul Being Chinese film reviewer thinks it might have been wise to. Spend some of the vast special effects budget on the script This films biggest problem is the story in fact there really isn't a story nobody knows what these characters are actually doing In contrast to assume another Chinese film released at the same time has been a phenomenal. Success dying to survive is a low budget drama based on a true story about. Attempts to, smuggle cancer drugs into China it cost around eleven million. Dollars and has already made over four hundred million Raymond Joe says it shows that directors shouldn't take Chinese audiences. For granted the spectacular crash of the movie is a cautionary tale for hot money that has been flowing into China's. Tinseltown the abundance of investment. Coupla with, an alarming lack of originality. Has led to such epic flops as Assira Critic Raymond Joe ending that report from Steven McDonnell in Beijing You're. Listening to NewsHour from. The BBC World Service I'm James Menendez. Let's head to Singapore now reports. Of a major cyber attack there is a pit of stolen the health records of one and. A half million people that's, about a quarter of the population. Let's talk to Stefania Palmer Singapore correspondent? For the financial times have you with? Us, on the program what do we know about this attack well we know that. Is definitely the, biggest attack, cyberattack ever happening in Singapore's. History it, is really I mean the numbers. Are just incredible I mean one and a half million people you said. It's about a quarter of, the entire population of the country but on top of that what is really remarkable is that the attackers have really specifically and repeatedly targeted the prime minister here and in terms of, sending his personal details and information on his outpatients Dispensed medicines yes so. So what exactly did did they take? Then how much health or rather how? Much, data on on people's health background did they manage to get hold of so. Essentially they what, they targeted, for the one and a. Half million patients was actually non-medical personal data. So things like name address gender race data's birth the actual medical records. Were notes amended our tampered, with but that was sort of the main rationale there are also data stolen in terms of a dispensed medicines for outpatients and those were around one hundred sixty thousand people The targeting of the prime minister's intriguing detail then what does, that tell us potentially about who might have carried this out so the government to your has not specified who the perpetrators, may, be and what's also, the intentions may have been but the did say thoughts I have shown that there was a deliberate. And. Targeted and very well planned attack and they definitely was not work of casual hackers or criminal guns so they have not come out and said specifically what kind? Of organization may have been behind this but you know a number of experts say that if if it's. Not casual hawkers or criminal, guns, there, is a. Possibility that it might be government, backed government backed and. Who who have fingers being pointed out that. China I I have to say no one is pointing any fingers now. Because they're quite cautious in terms of giving any Kind of ideas specifically because the Singaporean government. Has not come out with any specific statement, but, I guess if you look at the most high. Profile attacks that have happened in recent times I guess Russia China North Korea are the ones that, probably come to mind in the latest one has been the alleged Russian meddling with US presidential elections we also have the, China's, interference with upcoming Cambodian, elections so I guess those are the big three blade knees I guess in recent times Yeah A wealthy city state prides itself on stability. Security embarrassing is for the. Government To say I think it was quite. Surprising generally because they've actually, worked very. Very hard to ramp up defense systems they also pasta new cybersecurity active February so I think Singapore is actually generally known to be, one of. The country's at the forefront. Of the building up cyber cyber security a defensive so it's, actually quite surprising and I think one of the blow was speaking to set, maybe that's actually one of the reasons why the attacker attackers actually targeted Singapore especially. Precisely because it's always taken as an. Example of the best defenses against, cybercrime Stephanie many thanks for joining us today that was too, funny a poem a correspondent for the financial times. Speaking to us from Singapore.

Singapore China Singaporean Government Raymond Joe Prime Minister Paul Stefania Palmer BBC Newshour Beijing James Menendez Steven Mcdonnell United States Russia North Korea