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It’s official - the 1MDB money was stolen

John Malott

Published
Modified 22 Jul 2016, 12:30 am
0

The attorney-general of the United States, Loretta Lynch, made it official yesterday. She said it very clearly. At least US$3.5 billion belonging to the Malaysian people has been stolen.

The Federal Bureau of Investigation (FBI), the US Department of Justice (DOJ), and the Internal Revenue Service (the US tax revenue agency) have led a very thorough investigation for over one year.

They have concluded that the Malaysian people were robbed. The people’s money was diverted - stolen - from the government’s 1MDB fund through fraud and money laundering.

What was going on in 1MDB throughout this time? Who stole the money? Where did it go? Who was responsible for letting this theft happen?

These are the questions that the US Justice Department has investigated.

We all know that it was Prime Minister Najib Abdul Razak who created and led 1MDB, and allegedly worked behind the scenes with flamboyant tycoon Low Taek Jho, also known as Jho Low.

The US Justice Department report listed three other 1MDB officials who were involved in this fraud. While their names were not mentioned, their titles (CEO, etc) and their terms of service were listed.

So it is easy to figure out who these other officials were.

In her press conference, Lynch and her associates used the word “stolen” over and over again.

Lynch and her colleagues also said that “corrupt Malaysian officials and their associates” engaged in money laundering, an international crime...

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