1Malaysia Development Berhad

…a Malaysian sovereign wealth fund, 1Malaysia Development Berhad (1MDB), between 2009 and 2015. Initially billed as a vehicle for economic development, the fund became the center of one of the largest corruption scandals in modern history. The fallout helped topple Malaysian Prime Minister Najib Razak, implicated international banks, and prompted…

…embezzlement and money-laundering scheme involving 1Malaysia Development Berhad (1MDB), a state-owned investment fund. Mahathir emerged from retirement to chastise his onetime protégé, and the former prime minister broke with the BN and aligned with the opposition. The weight of the 1MDB allegations combined with overwhelming dissatisfaction over the goods and…

…in a corruption scandal involving 1Malaysia Development Berhad (1MDB), a Malaysian state-owned investment fund. Separate investigations launched by Swiss and U.S. authorities determined that an estimated $3.5 billion had been embezzled from 1MDB and laundered through various channels. The U.S. Department of Justice’s anti-kleptocracy unit sought to recover $1 billion…