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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, People

Is 1MDB Malaysia’s defining moment?

Posted on 26 July 2016

The US government has accused Malaysian Prime Minister Najib Abdul Razak of having received hundreds of millions of US dollars into his personal banking accounts from money stolen from 1MDB. Najib has not refuted the allegation.
The US government has also accused officials and associates of 1MDB of having stolen more than US$3.5 billion from 1MDB, to which Najib has also failed to deny. What is most devastating to the prime minister personally is that among the millions of such stolen money in his banking accounts is the famous US$681 million which he claimed to be a donation from the Saudi royal family………………………………………..Full Article: Source


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