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Malaysia’s former prime minister faces trial in the 1MDB scandal

ACCORDING TO America’s Department of Justice, between 2009 and 2015 $4.5bn disappeared from 1 Malaysia Development Berhad (1MDB), a Malaysian state development fund set up a decade ago by Najib Razak, then the prime minister. The money passed through a maze of institutions and accounts in the Middle East, the Caribbean and the Seychelles. It was frittered away on property, parties, gems, art, private jets and a superyacht. It helped fund a film on scamming, “The Wolf of Wall Street”. The mastermind behind the fraud is allegedly Jho Low, a Malaysian financier. But more than $600m ended up in Mr Najib’s personal bank accounts.
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