by Ganesh Sahathevan
It was reported on this blog in December last year that Richard Haythornthwaite, the chairman of Mastercard, had been implicated in a money laundering scheme involving Prince Turki Al-Saud, son of the late King Abdullah of Saudi Arabia. Readers will recall that that scheme has involved the apparent theft of billions of dollars from the Malaysian sovereign fund, 1 MDB Bhd.
Then, on 20 July this year the US Department of Jutice filed suit to seize over one billion dollars in assets held in the United States, acquired with money the DOJ says was stolen from 1 MDB and laundered via Turki's company Pertosaudi, within which Haythornthwaite serves as a senior officer. The investigative website Sarawak Report has shown shown how Haythornthawite is aware of the facts.
That Haythorthawite can then continue to sit on the board and as chairman of what is esentially an extremely large international money transfer business must clearly raise questions for the board, who may well have to consider their own liability if they choose to either ignore these matters , or defend their chairman.