First 1MDB Arrest – Former Senior Fund Manager Faces US Extradition Request In Abu Dhabi EXCLUSIVE!
The first 1MDB related arrest has taken place at the request of the
United States, in a move that will send shock waves and shivers through
the Malaysian political establishment and also in related businesses in
Hollywood and Las Vegas.
Sources close to Department of Justice officials in the United States
have confirmed to Sarawak Report that the former CEO of Aabar, Mohamed
Al Husseiny (top right), has been placed in detention by the authorities
in Abu Dhabi, who are now processing an extradition request by the US
Department of Justice, relating to charges concerning 1MDB.
Al Husseiny, who originated from Kenya, holds US citizenship, despite having moved to Abu Dhabi.
This is the first outward move in an investigation that has been
ongoing in the United States and other jurisdictions for several months,
into the disappearance of billions of dollars from the Malaysian
Meanwhile, Prime Minister, Najib Razak, who is the sole shareholder
and signatory of the fund, has solidly denied that any wrong-doing took
Key player at International Petroleum Investment Company (IPIC) subsidiary
Whilst CEO of Aabar (a subsidiary of IPIC) until July of last year,
Al Husseiny was a key player in a number highly controversial deals
involving 1MDB, from which billions of ringgit appear to have
He also fronted a massive bail-out of 1MDB’s debts, in a surprise
move last June. It was one of his last actions in the post, from which
he was summarily dismissed the following month.
There are numerous other questions concerning the management of
Aabar, where Al Husseiny was regarded as a right hand man of the
ex-Chairman, the high-rolling nightclub supremo, Khadem al Qubaisi, also
CEO of IPIC.
Al Qubaisi was thrown out of all his official posts some weeks
earlier in April of last year and following a period under house arrest
he fled to the South of France, where he has considerable property.
Sarawak Report has identified that Al Qubaisi has also been removed
from a number of his private business positions over the past fortnight –
in the same period IPIC has mysteriously removed all reference to a
number of key subsidiaries of Aabar (which were linked to Khadem) from
The effects of the news has already caused an apparent major loss of confidence in related businesses in the United States.
The previously burgeoning Las Vegas-based Hakkasan nightclub empire,
which is owned by Al Qubaisi and fronted by its British born CEO, the Head of Mergers & Aquistions, Neil Moffit, has shown signs of panic over the past few hours, according to contacts.
Rumours circulating Las Vegas that three top executives, including
Moffit, were about to jump ship have been quashed by Khadem’s New York
law firm Greenberg Taurig.. for now.
However, there are equal concerns in Hollywood, where Mr Al Husseiny
had revealed himself as the major investor in none other than the
high-profile new movie production company Red Granite, which is owned by
Najib’s step-son, Riza Aziz.
At the time of the announcement in August 2014 Sarawak Report
questioned the apparent conflict of interest over a major business
partner of 1MDB investing hundreds of millions in films commissioned by
the shareholder’s own son.
How the former Abu Dhabi fund manager – a public servant – acquired
such huge sums was another question that has gone unanswered.
Perhaps Mr Al Husseiny will be able to address these issues if he is
indeed brought to the United States, as now formally requested. If so,
the position of Rosmah’s son and Najib’s step-son Riza Aziz, who has
been subject to much speculation over his ostentatious living and
property acquisitions, might start to look somewhat precarious.
It is widely known in Hollywood that before Sarawak Report queried
Red Granite’s connections to Malaysia’s public funds, Riza and his
partner, Joey McFarland, had told their colleagues and connections that
their funding came from Jho Low (rather than Al Husseiny).
Their blockbuster Wolf of Wall Street even carried a credit thanking Low.
Jho Low connection
Riza’s funding comes under the spotlight, just as Red Granite
prepares to launch the production of its next planned Scorcese
blockbuster, The General, a bio-pic of America’s hero George Washington,
starring (of course) the Oscar-winning Leonardo di Caprio, a close
party pal in Jho Low’s circle.
Al Husseiny’s dealings with the fugitive billionaire, his former boss
Khadem Al Qubaisi, and their mutual business contact Jho Low are
therefore likely to be top of the agenda during any questioning by law
Aabar, once a wealthy investor with a US$70 million equity base,
appears to have lost the bulk of its money. It has been struggling to
raise sufficient lending in recent weeks on the London, largely to cover
these commitments to 1MDB – the authorities in Abu Dhabi must be
The authorities in the US are likely to be more interested in the
extensive private investments made in property and businesses by these
players, in particular record price breaking penthouses in New York and
homes in Beverley Hills, plus the multi-million dollar investments in
the Hakkasan chain managed by Moffit.