Moreover,
1mdb scandal: these 4.5 billion:
Back on the 1MDB scandal
These 4.5 billion stolen from Malaysians in the century’s scam
For years. However, Prime Minister Najib Razak and his compatriot, the financier Jho Low, have literally looted the sovereign fund.
On the left. Moreover, Jho Low, brain of scandal 1MDB, and, on the right, the former Malaysian Prime Minister Najib Razak.
Imago/AFP – assembly Tamedia
- $ 4.5 billion was diverted from the sovereign fund 1MDB.
- Former Prime Minister Najib Razak is having a reduced 1mdb scandal: these 4.5 billion prison sentence.
- The financier Jho Low is currently hiding in a Shanghai manor.
- The diverted funds have notably financed Hollywood films and luxurious purchases.
The scandal 1Malaysia Development Berhad -. In addition, 1MDB – consisted in the systematic looting of a Malaysian sovereign fund, initially created to promote the economic development of the country. Therefore, Between 2009 and 2015, some $ 4.5 billion was siphoned from the sovereign. Consequently, whitewashed fund through a sophisticated network of screens and financial institutions around the world, especially in the United States, Singapore, Luxembourg and Switzerland. Furthermore, Which made American justice say that it was “Plus Grand Cas De Kleptocracy [révélé] to date».
Originally, 1MDB was a strategic development company held by the Malaysian government. Its objective was to stimulate economic development through foreign investments, then make the Malaysian people benefit from the 1mdb scandal: these 4.5 billion benefits obtained.
At the origin of the scandal. two men: Najib Razak, then Prime Minister of Malaysia, and Jho Low (Low Taek Jho) a financier also from the Southeast Asian monarchy.
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Najib Razak was sentenced to corruption to 12 years in prison in 2020. a confirmed sentence on appeal, then reduced by half in 2024. If other charges against him were abandoned. He is still waiting for a verdict in a case linked to the 1MDB scandal And asked to be able to serve his sentence at home.
1mdb scandal: these 4.5 billion
A fraud that goes through Switzerland
Jho Low, meanwhile, acted as the conductor of the scam. He has forged links with the global elites and financial institutions to facilitate fraud. Always on the run. he would live, According to journalists Bradley Hope and Tom Wright interviewed by the media “Brazen”under a false identity in a luxurious Shanghai manor.
In parallel. in Switzerland, Two Geneva financiers appeared with workers’ ankles From an entire part of the 1MDB case – which they took the opportunity to divert more than $ 1.8 billion. They were sentenced to 7 and 6 years in prison in August 2024. The scandal also sank, ten years ago, the BSI, Doyenne of private banks in Ticino, former Banca della Svizzera Italiana.
The billions of dollars 1mdb scandal: these 4.5 billion stolen from the Malaysian people in the 1MDB scandal funded extravagant spending-luxury real estate. diamonds or masterpieces in art history-many people. The looting of the sovereign fund also used to produce films like «The Wall Street wolf “or” Dumb. Dumber 2 “via the production company Red Granite.
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