How $1 Billion Made Its Way to the Prime Minister
Investigators say at least $3.5 billion was misappropriated from 1MDB. Here’s how they believe $1 billion ended up in the bank accounts of Malaysian Prime Minister Najib Razak.
Bradley Hope, Tyler Paige, Will Welch, Maryanne Murrayand Chris Canipe, WSJ
Every time Malaysian government investment fund 1Malaysia Development Bhd, or 1MDB, borrowed money, large amounts of the cash were quickly misappropriated, according to investigators. The money followed a circuitous path among private banks, offshore companies and funds, bank records show, and roughly $1 billion landed in the private bank accounts of Malaysian Prime Minister Najib Razak.
That cash is part of $3.5 billion that was embezzled from 1MDB, according to a U.S. Justice department complaint. Investigators from seven countries are trying to figure out what happened to the money and the U.S. moved to seize $1 billion in property in July, including luxury real estate in New York and Beverly Hills, a private jet and art allegedly purchased with 1MDB money. Singapore has charged a banker with money laundering in relation to 1MDB and Abu Dhabi has arrested and frozen the assets of a top official who was deeply involved with the fund. The banker and the official haven’t commented.
This interactive graphic tracks the route that investigators believe the money took from the time it was raised by 1MDB until it landed in the private bank accounts of Mr. Najib at AmBank Bhd., a Malaysian bank, between 2011 and 2015.
