Skip to main content

Wife Of Malaysian PM Mired In 1MDB Scandal Not Sure What The Big Deal Is Re: Treating Herself To A Few Pairs Of Shoes And Jewelry (Worth $6 Million)

Get off Rosmah Mansor's back!
  • Author:
  • Updated:
Bought these with the money from my paper route. By Swamibu ( [CC BY 2.0], via Wikimedia Commons

Thanks paper route! via Wikimedia Commons

She makes $0/year and her husband pulls in $100,000. She put $1 million on a credit card of her husband's tied to 1MDB, the investment fund he set up and from which he allegedly "received hundreds of millions of dollars siphoned between 2009 and 2015." But please! Do not ask Rosmah Mansor about the minor little items she's picked up here and there and paid for in a totally legitimate fashion.

She is the only child of schoolteachers, hasn’t had a regular paying job in years and her husband, Prime Minister Najib Razak, is a longtime bureaucrat with an annual salary of $100,000. Ms. Rosmah, 64 years old, says she has a habit of saving. “I have bought some jewelry and dresses with my own money. What is wrong with that?” she wrote in her 2013 autobiography. But allegations that Mr. Najib received hundreds of millions of dollars siphoned between 2009 and 2015 from 1Malaysia Development Bhd., a state investment fund he set up, are bringing renewed scrutiny of her...The Wall Street Journal reported this year, citing banking documents, that at least $1 million in purchases made by Ms. Rosmah at jewelry and fashion stores in Europe and the U.S. in 2014 were paid for by Mr. Najib using credit cards that drew on 1MDB funds. The couple declined to comment at the time. New documents seen by the Journal show those expenses are part of at least $6 million in spending by Ms. Rosmah between 2008 and 2015 on clothing, shoes and jewelry from London’s Harrods department store, Saks Fifth Avenue of New York and elsewhere.

1MDB Scandal Around Malaysian Prime Minister Najib Puts Spotlight on Wife [WSJ]


Hedge Fund Manager Wants 35 Percent Of Ex-Wife's Shoe Collection For Reasons Not Entirely Clear

Daniel Shak is the founder of SHK Management, a hedge fund that reportedly "pulled the plug on its sole investment, spread trades on Comex gold futures," last year. Daniel Shak is also the ex-husband of Beth Shak, who he divorced three years ago and is now suing for allegedly hiding assets in an attempt to cheat him out of settlement money. The assets in question? Twelve hundred pairs of designer shoes, which Shak claims his former wife "hid" from him in a "secret room." The way DS sees it, the footwear collection, which includes "Christian Louboutins and other high-end designer shoes" is worth approximately $1 million and he wants at least 35 percent. The way Beth Shak sees it, this is crazy (“I’m shaking my head over this whole thing,” she told reporters. “He is saying he didn’t know the closet in our master bedroom existed") and she doesn't understand why her ex is going after her shoes now. At this time there appear to be a few possible explanations: a) Daniel is raising money to re-launch his fund (he told the Journal, after liquidating SHK in January 2011, that he'd be "trading again in a few weeks," though it's unclear if that happened). b) He's got gambling debts to repay ("A poker lover himself, he was reached at a card table yesterday but declined to comment"). c) He and John Mack are going to sell them out of the back of a truck. d) He just really appreciates women's shoes. e) Other Hedgie sues poker pro ex-wife over her 1,200-pair designer shoe collection [NYP] Related (...?): Hedge Fund SHK Liquidates, Rattles Gold Market

Just When You Think Steven Cohen's Ex-Wife Is Out, She Pulls Herself Back In

Forget what you've heard: Patricia Cohen isn't going ANYWHERE.

Hank Greenberg Wins AIG Case, Snowball Does Not Get A New Pair Of Shoes

A judge ruled in Greenberg's favor but not in the monetary sense.

Yahoo! RésuméGate: Day 6

Patti S. Hart, the Yahoo director who headed the board search committee that picked Scott Thompson as the company’s chief executive, will not stand for re-election, a person briefed on the matter told DealBook on Tuesday. Ms. Hart’s departure, which could be announced as soon as Tuesday afternoon, is the first significant response by Yahoo amid the growing controversy over Mr. Thompson’s academic record. The company is also expected to formally announce later on Tuesday the formation of a three-member board committee to investigate Mr. Thompson’s hiring and how erroneous academic information appeared in official company documents. [Dealbook, earlier]