PETALING JAYA: Manchester City owner Sheikh Mansour bin Zayed Al Nahyan has been linked to the multibillion-dollar 1Malaysia Development Berhad (1MDB) scandal, with renewed scrutiny over the club’s financial affairs bringing the issue back into focus.
According to a report by The New York Times, Sheikh Mansour, a senior Abu Dhabi royal, was named by US investigators as a co-conspirator in the 1MDB scandal, although he was never charged with any crime.
The report detailed how funds allegedly misappropriated from 1MDB were linked to the construction of Sheikh Mansour’s luxury superyacht, Topaz, which was launched in 2012.
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More than €140 million (about RM640 million) was reportedly paid towards the yacht’s construction through Oceanus Maritime Limited, the company responsible for building it. The funds were traced to an account linked to former International Petroleum Investment Company (IPIC) chief executive Khadem Al Qubaisi, according to the report.
The scandal also implicated other senior figures, including Al Qubaisi and former Aabar chief executive Mohamed Al Husseiny, both of whom were jailed in the United Arab Emirates.
The report also highlighted the role of Jho Low, the Malaysian financier accused of orchestrating the 1MDB fraud, in arranging deals involving Goldman Sachs and Abu Dhabi’s state-linked investment entities.
Sheikh Mansour’s links to the scandal have drawn renewed attention following a separate ruling involving Manchester City.
An independent panel reportedly found that the club had overstated revenues and understated expenses by more than €1.1 billion (about RM5.02 billion) across nine seasons, from 2009-10 to 2017-18, involving alleged disguised funding through sponsorship arrangements.
Manchester City have denied wrongdoing and appealed against the ruling.
The report added that Sheikh Mansour was not charged in connection with the 1MDB scandal and that there was no direct evidence he knew about the alleged financial arrangements involving the football club.
The 1MDB scandal involved the alleged misappropriation of billions of dollars from Malaysia’s state investment fund and led to the imprisonment of former prime minister Datuk Seri Najib Razak.