| The senior management of 1MDB, we are led to understand from last week’s public statements, sent US$3.5bn around four years ago to a company they believed was Aabar Investments PJS, owned by International Petroleum Investment Co, Abu Dhabi’s sovereign wealth fund.
But the money didn’t get to that particular Aabar. Instead it went to an eponymous Aabar, in the form of Aabar Investments PJS Limited, a British Virgin Islands-registered company which had nothing to do with the Middle East state’s sovereign wealth fund. It was just that by some strange coincidence it just happened to have exactly the same name with a few letters added on at the end in the form of “Limited.”..............................................Full Article: Source
|