Strategists at RBC Capital Markets LLC said prior to Election Day that a Trump victory would send the S&P 500 down 10 to 12%. Barclays had predicted a drop of as much as 13%. The team at JPMorgan advised investors to sell the rebound that materialized just a few hours after Trump won.

[B]oling (U.S. citizen), together with his Philippines-based co-defendants Allan Albert Kerr (Australian citizen) and Jongmin Seok (South Korean citizen), specifically used the stolen information to compromise a Department of Defense portal designed to enable military members to access benefits information online. Once through the portal, the defendants are alleged to have accessed benefits information.  Access to these detailed records enabled the defendants to steal or attempt to steal millions of dollars from military members' bank accounts. The defendants also stole veterans' benefits payments. After the defendants had compromised military members' bank accounts and veterans' benefits payments, Boling allegedly worked with co-defendant Trorice Crawford to recruit individuals who would accept the deposit of stolen funds into their bank accounts and then send the funds through international wire remittance services to the defendants and others. Evidence of the defendants' scheme was detected earlier this year, advancing the investigation that led to the indictment.

The Departments of Defense and Veterans Affairs are coordinating with the Department of Justice to notify and provide resources to the thousands of identified victims. Announcements also will follow regarding steps taken to secure military members' information and benefits from theft and fraud.

Boling, Crawford, Kerr and Seok are charged with multiple counts of conspiracy, wire fraud, and aggravated identity theft.  Crawford remains in federal custody pending resolution of this litigation.  Boling, Kerr and Seok are in custody in the Philippines awaiting transfer to the Western District of Texas.

The orders against Allied Markets, Gilliland, and Wongkhiao stem from a CFTC complaint filed on January 5, 2015, charging the defendants with fraudulent solicitation and misappropriation of commodity pool participant funds. [See CFTC Press Release 7100-15] The orders find that the defendants violated the anti-fraud provisions and registration requirements of the CEA and CFTC regulations in connection with their operation of an illegal commodity pool trading in forex. 

According to the orders, defendants committed numerous misrepresentations and misappropriated their customers' funds, using them to pay lavish personal expenses, including gym memberships and luxury car rentals. 

In a parallel criminal case filed in the same district court, Gilliland and Wongkhiao pleaded guilty to conspiracy to commit wire fraud, based in part on the CFTC's complaint. On February 1, 2016, the court sentenced Wongkhiao and Gilliland to 55 months and 15 months in prison, respectively. In addition, the court entered a money judgment against Wongkhiao and Gilliland in the amount of $1,120,831, which is equivalent to the proceeds of the fraud. [See United States v. Gilliland et al, No. 3:15-cr-00035-MMH-PDB]

[F]rom 2009 through 2015, more than $4.5 billion in funds belonging to 1MDB were allegedly misappropriated by high-level officials of 1MDB and their associates, including Low, through a criminal conspiracy involving international money laundering and bribery.  1MDB was created by the government of Malaysia to promote economic development in Malaysia through global partnerships and foreign direct investment, and its funds were intended to be used for improving the well-being of the Malaysian people. 

Under the terms of the settlement, Low, his family members, and FFP, a Cayman Islands entity serving as the trustees overseeing the assets at issue in these forfeiture actions, agreed to forfeit all assets subject to pending forfeiture complaints in which they have a potential interest.  The trustees are also required to cooperate and assist the Justice Department in the orderly transfer, management and disposition of the relevant assets.  From the assets formerly managed by FFP, the United States will release $15 million to Low's counsel to pay for legal fees and costs. Under the agreement, none of those fees may be returned to Low or his family members.  The assets subject to the settlement agreement include high-end real estate in Beverly Hills, New York and London; a luxury boutique hotel in Beverly Hills; and tens of millions of dollars in business investments that Low allegedly made with funds traceable to misappropriated 1MDB monies.   

Low separately faces charges in the Eastern District of New York for conspiring to launder billions of dollars embezzled from 1MDB and for conspiring to violate the Foreign Corrupt Practices Act (FCPA) by paying bribes to various Malaysian and Emirati officials, and in the District of Columbia for conspiring to make and conceal foreign and conduit campaign contributions during the United States presidential election in 2012.  The charges in the indictments are merely allegations, and defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.  This agreement does not release any entity or individual from filed or potential criminal charges.