Pras Michel (left) with his lawyer in Washington
The rapper Pras Michel, who became famous with the band Fugees, has been found guilty in a trial in connection with the billion-dollar financial scandal involving the Malaysian sovereign wealth fund 1MDB. He faces up to 20 years in prison.
The rapper Pras Michel, who became famous with the band Fugees, has been found guilty in a trial in connection with the billion-dollar financial scandal involving the Malaysian sovereign wealth fund 1MDB. The 50-year-old was convicted on Wednesday of illegal campaign donations and money laundering, among other things. He faces up to 20 years in prison.
Malaysia’s sovereign wealth fund is at the center of one of the biggest fraud scandals in financial history. Billions of dollars in Malaysian government money have been embezzled to buy luxury goods, from artworks to real estate to yachts, in different countries. In addition, money was put into the film “The Wolf of Wall Street” starring Hollywood star Leonardo DiCaprio.
The main suspect, Low Taek Jho, denies the allegations and has been on the run for years. DiCaprio testified in the trial in early April.
Michel reportedly received around $100 million from Low between 2012 and 2017. According to the indictment, part of the money flowed into the re-election campaign of the then US President Barack Obama in 2012. Since campaign donations from abroad are prohibited in the USA, they are said to have been processed through straw men and offshore companies.
Michel was also found guilty of illicit lobbying on behalf of China in 2017 with then-US President Donald Trump’s administration to secure the extradition of Chinese dissident entrepreneur Guo Wengui. The billionaire close to ex-Trump adviser Steve Bannon has been accused of defrauding thousands of investors. He was arrested in New York in March on financial fraud charges.
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