What Is Malaysia’s 1MDB Scandal?

Malaysia’s massive 1MDB corruption scandal allegedly saw top officials loot billions from state funds, splurging on luxury assets worldwide, including a Monet painting, and even funding a Hollywood blockbuster. The case also ensnared global banking firm Goldman Sachs, which helped raise US$6.5 billion (S$8.3 billion) for the now-defunct fund, which prosecutors say was plundered of US$4.5 billion between 2009 and 2015. The scandal shook Malaysian politics, contributing to the 2018 downfall of the ruling coalition that had governed since independence in 1957, and led to the convictions of two former Goldman bankers.

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What Is Malaysia’s 1MDB Scandal?

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