1Malaysia Development Berhad
Malaysian state-owned investment fund
Also known as: 1MDB
Learn about this topic in these articles:
Malaysia
- In Malaysia: Malaysia in the 21st century
…embezzlement and money-laundering scheme involving 1Malaysia Development Berhad (1MDB), a state-owned investment fund. Mahathir emerged from retirement to chastise his onetime protégé, and the former prime minister broke with the BN and aligned with the opposition. The weight of the 1MDB allegations combined with overwhelming dissatisfaction over the goods and…
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Najib Razak
- In Najib Razak
…in a corruption scandal involving 1Malaysia Development Berhad (1MDB), a Malaysian state-owned investment fund. Separate investigations launched by Swiss and U.S. authorities determined that an estimated \$3.5 billion had been embezzled from 1MDB and laundered through various channels. The U.S. Department of Justice’s anti-kleptocracy unit sought to recover \$1 billion…
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