How Malaysia’s 1MDB Scandal Shook the Financial World
Published on: Wednesday 08 May 2019
Malaysia’s state-owned investment fund, 1MDB, was supposed to promote development. Instead, it has spurred criminal and regulatory investigations around the world that have cast an unflattering spotlight on deal-making, election spending and political patronage under former Prime Minister Najib Razak. The figures are mind-boggling: Of the $8 billion that 1MDB raised via bond sales, the U.S. alleges more than half was siphoned off. Angry voters ousted Najib in a 2018 election that ended his party
