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Deloitte Malaysia railed by police

As reported, Malaysian police railed Deloitte offices in relation to the 1MDB scandal.

The law enforcement officials were looking for documentation related to the operation of the fund and the respective audits conducted by Deloitte as independent external auditor (up to 2016, year in which Deloitte resigned as fund’s auditor).

The spokesman of the firm confirmed that Deloitte is cooperating with authorities and that no procedure has been foreseen against the firm.

Prior to Deloitte becoming the external auditor of the 1MDB fund, EY and KPMG served in the same capacity.

As par of the 1MDB scandal findings, more than 4.5 million USD were misappropriated by agents between 2009 and 2014.

Investigations for the grafting of several millions continue in at least six countries.

Source

https://www.reuters.com/article/us-malaysia-politics-1mdb-deloitte/malaysian-police-raid-deloitte-office-for-1mdb-related-documents-sources-idUSKCN1ST0VX

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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