Article D7R9 Malaysia’s prime minister accused of swiping $700 million from government investmentfund

Malaysia’s prime minister accused of swiping $700 million from government investmentfund

by
Mark Frauenfelder
from on (#D7R9)

In 2009 Malaysian prime minister Najib Razak announced that the government was taking over a private investment fund called 1MDB. When a parliament member asked why, Najib replied in a letter, "By doing this, the country's wealth can be distributed evenly among the people irrespective of race."

Apparenty, Najib's idea of wealth distribution is wiring $700 million of the funds into his personal accounts, according to the Wall Street Journal.

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