Najib Razak and the 1MDB scandal

News Today 30.08.2022

Now insolvent, 1MDB was a state-owned company co-founded by Najib in 2009 purported to promote development. During its initial years, 1MDB signed ventures with companies like PetroSaudi and was also funded by investment company Goldman Sachs in deals worth billions of dollars. In 2015, The Wall Street Journal reported that millions of dollars from 1MDB accounts were transferred to Najib’s personal accounts, bringing global attention to money laundering through the state-owned 1MDB fund. Investigations related to the allegations were launched internationally, in countries like the U.S., Singapore, Hong Kong, Switzerland and Abu Dhabi. Najib denied all allegations of wrongdoing. (Read More)

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