Apr 26, 2023 - World

Fugees rapper convicted in 1MDB scheme

Sareen Habeshian

Pras Michel arrives at U.S. District Court on April 3 in Washington, D.C. Photo: Tasos Katopodis/Getty Images

Fugees rapper Prakazrel "Pras" Michel was convicted Wednesday for his role in a multibillion-dollar scheme to ransack Malaysian state investment fund 1MDB.

The big picture: After a trial featuring high-profile witnesses including Leonardo DiCaprio and former U.S. Attorney General Jeff Sessions, Michel was found guilty on 10 counts — including conspiracy, acting as an agent of a foreign government and witness tampering.

Zoom in: Prosecutors accused the Grammy Award-winning artist of conspiring with Malaysian businessman Jho Low to try to influence the Department of Justice and the administrations of then-Presidents Barack Obama and Donald Trump.

Michel also allegedly attempted to lobby the U.S. government on behalf of China's ruling Communist Party for the extradition of billionaire and dissident Guo Wengui.

Zoom out: Goldman Sachs was accused of facilitating the 1MDB fraud, earning almost $600 million in fees on three bond deals from the corrupt Malaysian fund, per Axios' Felix Salmon.

Each time Goldman provided the money to 1MDB, Low, a former financier to ex-Prime Minister Rajib Najib, would steal it, Salmon writes.
Low is believed to be in China, per NPR.
Prosecutors said proceeds from the scheme went to lavish spending on jewels, art, a superyacht and luxury real estate, AP reports.

Add Axios on Google

Fugees rapper convicted in 1MDB scheme

What to read next