Monday, August 08, 2016

1MDB: The inside story of the world’s biggest financial scandal

Malaysia is just a small nation of around 30 million people but of late the country has been under the limelight (negatively unfortunately) on the 1MDB (1Malaysia Development Berhad) issue. Most of us, even Malaysians, are still not sure what it's all about.

But if you are interested, here's an article on MSN that would shed some light: 1MDB: The inside story of the world’s biggest financial scandal.

It's worth a read as it has been touted as the biggest case of its kind worldwide.

Money from 1MDB, the US also claimed, helped to purchase luxury apartments in Manhattan, mansions in Los Angeles, paintings by Monet and Van Gogh, a corporate jet, and even financed a major Hollywood movie.

Take a read. This scheme of things involves a number of countries and prominent personalities.

© Provided by Guardian News United States Department of Justice alleges that money from 1MDB was used to buy Claude Monet’s Nymphéas Avec Reflets de Hautes Herbes, valued at $57.5m. Photograph…

© Provided by Guardian News This drawing by Vincent Van Gogh, worth $5.5m, was allegedly bought with money from 1MDB, according to the US authorities. Photograph: Frank Baron for the Guardian

Image source: MSN

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