Open links in new tab
  1. Wikipedia
    https://en.wikipedia.org › wiki

    1Malaysia Development Berhad scandal - Wikipedia

    • The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is an ongoing corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the sche… See more

    Background, key perpetrators

    Najib Razak became Prime Minister of Malaysia in 2009. In his first year in office, he established See more

    Scheme

    The US DOJ described the scheme as involving three phases. In August 2009, Najib and Low met with representatives of private oil company PetroSaudi on a yacht in Monaco to discuss 1MDB's first investment… See more

    Malaysian investigations and actions

    The RM 425 million profit declared between 25 September 2009 and 31 March 2010 raised many criticisms and controversies about the lack of transparency in 1MDB's published accounts. Tony Pua, DAP Member of Parliame… See more

    1MDB Files $1 Billion Lawsuit Against Amicorp Group for Alleged Fraud

    In a significant development in the ongoing 1Malaysia Development Berhad (1MDB) scandal, the troubled Malaysian state fund has initiated legal proceedings against Amicorp Group and its CEO, Toine Knipping. T… See more

    Investigations by foreign law enforcement agencies

    The Australian fund management company Avestra Asset Management, which managed up to RM 2.32 billion in 1MDB funds, is being liquidated, and is under investigation by the Australian Securities and Invest… See more

    Recovery of 1MDB assets

    As of May 2019, Malaysia had recovered US$322 million (RM1.3 billion) worth of 1MDB assets since its renewed investigations into the 1MDB scandal after the 14th General Election in May 2018.
    Steps hav… See more

    Media coverage

    In January 2015, around 227,000 leaked documents related to the fraud were provided to investigative journalist Clare Rewcastle Brown, who writes Sarawak Report. The documents were leaked by Swiss natio… See more

    Wikipedia text under CC-BY-SA license
    Feedback