Pras Michel will be accused in Washington of contributing funds to pro-Obama organizations without disclosing their foreign origin — specifically Jho Low, who is accused of masterminding a massive diversion of cash from Malaysia’s 1MDB wealth fund — one of the people said. At least one other individual could be charged in connection to the matter, that person said.
The charges, as described, are an outgrowth of a sprawling Justice Department investigation into fraud and corruption at 1MDB, a wealth fund that was intended to promote economic development in Malaysia. It was instead treated like a massive slush fund by Jho Low, an adviser to Malaysia’s then-prime minister, Najib Razak, U.S. prosecutors have said.
Low has already been charged by prosecutors in New York, who are also investigating Goldman Sachs Group Inc., the investment bank that helped raise more than $6 billion for the fund. One former Goldman banker, Tim Leissner, has pleaded guilty to conspiracy charges involving bribery and money laundering. Another former Goldman banker, Roger Ng, agreed to be extradited from Malaysia to New York this week, where he faces similar charges.
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