Malaysian Corruption Allegedly Spreads to Canada
- Fund claims real estate firm helped launder crime proceeds
- Organization seeks financial information from banks, auditor
Abdul Mahmud Taib
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A Malaysian governor and his family are accused in a lawsuit of funneling proceeds of corruption into Canadian real estate, with a Swiss environmental group pressing some of Canada’s biggest financial firms to turn over information on how the money flowed.
Sarawak Governor Abdul Mahmud Taib’s family used the money to fund the expansion of the Ottawa-based real estate company Sakto Group’s C$250 million ($204 million) real estate empire, according to a lawsuit unsealed this week by an Ontario judge and provided to Bloomberg by the nonprofit and its law firm.