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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 scheme. [1]
1MDB scandal was a large corruption, bribery and money laundering scandal which began in 2009 in Malaysia but became global in scope and was exposed in 2015. It was as described as "one of the world's greatest financial scandals" [1] [2] and declared by the United States Department of Justice as the "largest kleptocracy case to date" in 2016. [3]
The 1Malaysia Development Berhad scandal is an ongoing political scandal in Malaysia, [1] in which then-Prime Minister Najib Razak was accused of channeling over RM 2.67 billion (approximately US$700 million) into his personal bank accounts from 1Malaysia Development Berhad (1MDB), a government-run strategic development company.
In 2015, the company became the subject of a major international corruption scandal, with evidence pointing to money laundering, fraud, and theft. A lawsuit filed by United States Department of Justice (DOJ), alleged that at least US$3.5 billion has been stolen from Malaysia's 1MDB state-owned fund. [4]
KUALA LUMPUR (Reuters) -Former Malaysian premier Najib Razak, who was convicted of graft over the multibillion-dollar 1MDB scandal, could be released by 2028 after his jail sentence was halved by ...
The government of former Malaysian Prime Minister Najib Razak set up 1Malaysia Development Berhad, or 1MDB, in 2009. Goldman CEO 'personally outraged' by Malaysia's 1MDB corruption scandal Skip to ...
The Kleptocrats is a 2018 documentary film produced by Mike Lerner and directed by Sam Hobkinson and Havana Marking that investigates the theft of over $3 billion from Malaysian government fund 1MDB. The scandal implicated several public figures, such as the former prime minister of Malaysia, Najib Razak, his stepson, Riza Aziz, and missing ...
Malaysian prosecutors dropped corruption charges against Deputy Prime Minister Ahmad Zahid Hamidi on Monday, letting the leader of a key partner in the ruling coalition to walk free and raising ...