| Any fool can smell a rat when someone demands immediate cash payment of US$3 billion to finance a long-term property development project that has not even taken off the ground. Worse, when that mountain of cash is dumped into a little known private bank, against all norms.
How could a world’s leading investment bank with a wealth of experience in such financing, fail to detect something gravely wrong was taking place in a client which happened to be the sovereign wealth fund of a country? Wall Street Journal report provided a connection between the US$3 billion bond urgently raised by 1MDB in March 2013 and the US$681 million (the infamous RM2.6 billion) that landed in PM Najib Razak’s personal AmBank account...............................................Full Article: Source
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