Accounting Essay范文:1Malaysia Development Berhad Scandal

发布时间:2022-04-18 10:50:41 论文编辑:zeqian1013

本文是会计专业的Essay范例,题目是“1Malaysia Development Berhad Scandal(一个马来西亚发展有限责任公司丑闻)”,马来西亚发展有限公司是马来西亚政府经营的战略发展公司。据报道,2014年,一个马来西亚发展有限公司累积了110亿美元的债务,对马来西亚林吉特构成了威胁。这就是丑闻开始被揭露的时候。自2015年以来,这家马来西亚公司一直在接受调查,原因是其可疑的资金交易以及指向洗钱、欺诈和盗窃的证据。

1Malaysia Development Berhad Scandal一个马来西亚发展有限公司

1Malaysia Development Berhad is a Malaysian government run strategic development company. In 2014, it was reported that 1Malaysia Development Berhad had accumulated $11 billion in debt, posing a threat to the Malaysian ringgit. This is when the scandal began to unravel. Since 2015, the Malaysian company has been under investigation for its suspicious money transactions and evidence pointing to money laundering, fraud, and theft.

Investigators have been attempting to trace how money illegally flowed from 1Malaysia Development Berhad into personal accounts. They have commited to cooperate with global counterparts as they attempt to make sense of how these billions of dollars may have been embezzled and laundered through major financial centers in the U.S., Europe and Asia. The findings could potentially identify and help close ambiguity in the global financial system that open the way to corruption.

调查人员一直试图追踪资金是如何从一个马来西亚发展有限公司(Malaysia Development Berhad)非法流入个人账户的。他们承诺与全球同行合作,试图弄清楚这些数十亿美元是如何通过美国、欧洲和亚洲的主要金融中心被挪用和洗钱的。这些发现可能会发现并帮助消除全球金融体系中为腐败铺路的模糊性。

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It has been declared by the U.S. Justice Department that over $4.5 billion flowed from the fund to finance spending sprees by corrupt officials and their associates. This had been done through a complex web of opaque transactions and fraudulent shell companies. They claim that a coterie of Malaysians, led by Penang based businessman Jho Low, channeled money from 1Malaysia Development Berhad into personal accounts disguised to look like legitimate businesses.

In 2015, the former Prime Minister of Malaysia, Najib Razak, was accused of channeling $681 million from 1Malaysia Development Berhad to his personal bank accounts. In 2016, Malaysia’s attorney general at the time, backed by Saudi authorities, claimed the $681 million was a donation from the Saudi Arabian royal family, much of which was returned. It has been declared by the U.S. investigators that the money actually came from, and was returned to, an offshore entity purportedly controlled by Jho Low. Jho Low, a bon vivant who said he did consulting work for 1Malaysia Development Berhad, is represented by U.S. prosecutors as the central figure who set up shell companies to collect earnings from the fund and organized the withdrawal of tens of millions of dollars for paying Malaysian government officials and his own lavish spending. Authorities are seeking a quick sale of his yacht, valued at $250 million. He was initially charged in absentia with eight counts of money laundering, though his whereabouts are not publicly known.  Jho Low has announced his innocence on his website.

2015年,马来西亚前总理纳吉布·拉扎克(Najib Razak)被控将6.81亿美元从一马发展有限公司(1Malaysia Development Berhad)转移到自己的个人银行账户。2016年,马来西亚当时的司法部长在沙特当局的支持下,声称6.81亿美元是沙特王室的捐赠,其中大部分已经归还。美国调查人员宣称,这笔钱实际上来自并归还给了一个据称由刘特佐控制的海外实体。霍华德低,一位美食家说,他做咨询工作1个马来西亚发展有限公司,是由美国检察官的中心人物,设立空壳公司收集收入基金和有组织的撤离数千万美元支付马来西亚政府官员和他自己的奢侈消费。当局正在寻求尽快出售他价值2.5亿美元的游艇。他最初在缺席的情况下被控八项洗钱罪名,不过他的下落不得而知。刘特佐在自己的网站上宣布自己无罪。

In May 2018, Najib Razak was removed from power in a general election as the scandal fueled a voter backlash. Najib Razak was charged with multiple counts of corruption, criminal violation of trust and money laundering involving 1Malaysia Development Berhad related money, and his wife was also charged. He has denied any wrongdoing and pleaded not guilty to all charges. Luxury items and cash seized by police from a variety of premises linked to Najib Razak have accumulated a valued of $239 million. The new Prime Minister of Malaysia, Mahathir Mohamad, says his country is seeking to regain billions of dollars of 1Malaysia Development Berhad funds, including fees from Goldman Sachs.

2018年5月,纳吉布·拉扎克(Najib Razak)在大选中被赶下台,这一丑闻引发了选民的强烈反应。纳吉布·拉扎克(Najib Razak)被控多项腐败、违反信托和涉及一马发展有限公司相关资金的洗钱罪名,他的妻子也被指控。他否认有任何不当行为,并对所有指控拒不认罪。警方从与纳吉布·拉扎克有关的多个场所查获的奢侈品和现金累计价值2.39亿美元。马来西亚新总理马哈蒂尔·穆罕默德表示,他的国家正寻求从一马发展有限公司基金收回数十亿美元,其中包括高盛的佣金。

The U.S. has also charged Tim Leissner, Goldman Sachs’ lead banker for 1Malaysia Development Berhad bond issues, when he confessed in a U.S. plea that he bribed officials to get the bond deals, and that he and others arranged the fundraising as bond offerings because it would lead to higher fees for the bank. Tim Leissner also admitted that over $200 million in proceeds from 1Malaysia Development Berhad bonds flowed into accounts controlled by him and a relative. Prosecutors declare that other than Tim Leissner, there were a number of employees at Goldman Sachs who knew about a bribery scheme, but worked to hide it from the firm’s compliance and legal departments. For years, Goldman Sachs has said it raised money for 1Malaysia Development Berhad without the awareness that it would be diverted from the development projects.

美国还指控蒂姆朱迪雷思能高盛(Goldman Sachs)首席银行家1 malaysia发展有限公司发行债券,当他承认在美国请求他贿赂官员债券交易,而且他和其他人安排融资的债券发行,因为这将导致更高的费用。蒂姆·莱斯纳(Tim Leissner)还承认,来自一马发展有限公司的2亿多美元债券流入了他和一个亲戚控制的账户。检察官宣称,除了蒂姆·莱斯纳(Tim Leissner)以外,高盛还有一些员工知道一项行贿计划,但却努力向公司的合规和法律部门隐瞒此事。多年来,高盛(Goldman Sachs)一直表示,它为1Malaysia Development Berhad筹集了资金,但没有意识到这笔资金会从开发项目中转移出去。

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The U.S. Justice Department discovered $1.7 billion in assets that were illegally obtained through money diverted from 1Malaysia Development Berhad, including real estate, art, a luxury yacht and proceeds from the film “The Wolf of Wall Street” which reached a $60 million settlement with its producer. Its first charges against individuals were announced in November. Singapore and Switzerland have forced financial penalties on several banks for lapses in anti-money laundering controls related to funds allegedly from 1Malaysia Development Berhad. According to the Federal Bureau of Investigation, potential witnesses did not want to talk because they feared retaliation.

Using leaked email correspondences, news portal Sarawak Report and British newspaper The Sunday Times reported that Jho Low, who has ties with Najib Razak’s stepson, drew out $700 million from a joint venture deal between 1Malaysia Development Berhad and PetroSaudi International through Good Star Ltd. It was revealed in an email that Jho Low got the loan approval from Najib Razak for $1 billion without getting any approval from Bank Negara. Sarawak Report briefly showed a meeting at 1Malaysia Development Berhad that the CEO, Arul Kanda, gave out false bank statements relating to its subsidiary’s accounts at the Singapore branch of BSI Bank. Arul Kanda denied the allegation that he gave false bank statements to Bank Negara.

新闻门户网站沙捞越报道(Sarawak Report)和英国报纸《星期日泰晤士报》(The Sunday Times)利用被泄露的电子邮件往来报道称,与纳吉布·拉扎克(Najib Razak)继子有关系的约翰·洛(Jho Low)通过Good Star Ltd.从一马发展有限公司(1Malaysia Development Berhad)和沙特石油国际公司(PetroSaudi International)的一项合资协议中提取了7亿美元。一封电子邮件透露,Jho Low获得了纳吉布·拉扎克(Najib Razak) 10亿美元的贷款批准,而没有得到尼日利亚央行(Bank Negara)的任何批准。沙捞越报告简要显示,在一马来西亚发展有限公司(1Malaysia Development Berhad)的一次会议上,首席执行官神田阿鲁(Arul Kanda)提供了虚假的银行对账单,涉及其子公司在BSI银行新加坡分行的账户。阿鲁尔·神田否认了他向尼加拉银行提供虚假银行对账单的指控。

There were many financiers and financial companies involved in the 1Malaysia Development Berhad saga, though not all have been accused of doing anything wrong. Riza Aziz, Najib’s stepson and a friend of Jho Low, co-founded the movie production company that paid $60 million to settle U.S. Justice Department claims that it financed the “Wolf of Wall Street” with money taken from 1Malaysia Development Berhad. Switzerland’s Office of the Attorney-General said that six people and two Swiss banks are suspected in the involvement of using 1Malaysia Development Berhad intended financing for other purposes, “most particularly for the personal enrichment of the persons involved”. The governor of the Central Bank of Malaysia, Muhammad Ibrahim, resigned as questions arose over the role the monetary authority played in its land purchase deal from Najib Razak’s government, who in turn used the proceeds to pay the debt of 1Malaysia Development Berhad. Muhammad Ibrahim denied the acquisition was made to “intentionally aid and abet the misappropriation of public funds.” A review of the deal has been commissioned by the monetary authority. A 143-year-old Swiss bank, BSI SA, that worked with 1Malaysia Development Berhad lost its license to do business in Singapore, due to the violations of money laundering regulations. UBS Group AG, DBS Group Holdings Ltd., Credit Suisse Group AG, United Overseas Bank Ltd. and Standard Chartered Plc are amid those who have drawn penalties from the Singapore central bank for anti-money laundering lapses. They said they will strengthen controls in their businesses. Falcon Private Bank Ltd., a Zurich based bank linked to $3.8 billion of 1Malaysia Development Berhad fund flows, was ordered to end operations in Singapore while Switzerland threatened to remove its license if there were any further violations of money-laundering regulations. Switzerland’s financial regulator will conduct a thorough review of JPMorgan Chase & Co.’s anti-money laundering controls after discovering the bank gravely violated regulations in its business with 1Malaysia Development Berhad. Singapore has prohibited eight financial professionals in connection with 1Malaysia Development Berhad. In 2017, Malaysia’s finance ministry and 1Malaysia Development Berhad reached a $1.2 billion settlement with Abu Dhabi’s sovereign wealth fund over a debt dispute and made the payments.

The most logical explanation to why this scandal occurred is greed. Many people, like Jho Low and Najib Razak, took money from 1Malaysia Development Berhad that they simply did not need. They already had good lives and were financially stable. These people are very greedy because they just wanted more money and unnecessarily took millions of dollars. In addition to this, other people involved in this scandal admitted to taking bribes though they knew it was morally wrong. It seems like greed was the main factor in this situation.

对于这起丑闻的发生,最合理的解释是贪婪。许多人,比如刘特佐(Jho Low)和纳吉布•拉扎克(Najib Razak),从一马发展有限公司(1Malaysia Development Berhad)拿了他们根本不需要的钱。他们的生活已经很好,经济也很稳定。这些人非常贪婪,因为他们只是想要更多的钱,不必要地拿走了数百万美元。除此之外,其他卷入该丑闻的人虽然知道这在道德上是错误的,但他们承认了受贿。在这种情况下,贪婪似乎是主要因素。

The 1Malaysia Development Berhad scandal, as well as many other scandals that have occured, could have been prevented. Many people were involved in this scandal and all it would have taken was one honest person to come clean and admit everything. As mentioned before, prosecutors declared that there were a number of employees at Goldman who knew about a bribery scheme, but worked to hide it from the firm’s compliance and legal departments. Had there just been one employee who had good morals, this whole scandal would not have gotten to the point it did.

A GAAP that was not followed in the 1Malaysia Development Berhad scandal is the “Business Entity Concept”. According to this GAAP, business affairs must be kept separate from personal affairs, but as mentioned earlier, Najib Razak and other people were accused of channeling millions of dollars from 1Malaysia Development Berhad into personal accounts. Therefore, this GAAP was breached. Another GAAP that was not followed in this situation is the “Principle of Conservatism”.  For example, the CEO of 1Malaysia Development Berhad, Arul Kanda, gave out false bank statements. This is a violation of the GAAP because he was not truthful about the affairs of the business.

在一马发展有限公司丑闻中没有遵循的公认会计准则是“企业实体概念”。根据这一公认会计准则,商业事务必须与个人事务分开,但正如前面提到的,纳吉布·拉扎克(Najib Razak)和其他人被指控将数百万美元从一马发展有限公司转入个人账户。因此,这一公认会计准则被违反了。在这种情况下没有遵循的另一个公认会计准则是“保守主义原则”。例如,一马发展有限公司的首席执行官阿鲁神田(Arul Kanda)提供了虚假的银行对账单。这违反了公认会计准则,因为他对公司事务不诚实。

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