Introducing 

Prezi AI.

Your new presentation assistant.

Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.

Loading content…
Transcript

1Malaysia Development Berhad 2018

How they did it?

They was established for the fraudulent purpose. Vast sums were borrowed and then siphoned into bank accounts in Switzerland, Singapore, and the US. in 2013, Najib's personal bank account has $731million. ho low used state funds for his private spending they paid millions of dollars for towards funding film the Wolf of Wall Street and unnecessary things They just arrested Najib, Rosmah Mansor, and a number of close associates.

• What happened?

Misappropriation of $4.5 Billion from 1MBD in Malaysia

  • Mahathir Mohamad removed Najib Razak from power in MAY 10.

Reference

• Mr. Mahathir implement the Travel Ban for Najib and his wife Rosmah Mansor in MAY 12

  • Adam,S.Arnold,L.Ho,Y.(2019). How Malaysia’s 1MDB Scandal Shook the Financial World. https://www.washingtonpost.com/business/how-malaysias-1mdb-scandal-shook-the-financial-world/2019/09/26/acb4bd9e-e01c-11e9-be7f-4cc85017c36f_story.html

• In MAY 18

he did not admit even when the police found 1,400 necklaces, 423 watches, 2,200 rings, 1,600 brooches and 14 tiaras, 567 handbags belong to his wife and luxury goods for Mr. Najib’s family, worth a total of $273.

• in JULY 2018

Mr. Najib was arrested

• in AUGUST

Najib Razak facing charges like: corruption, money laundering, and Use government money for his personal use

  • Timeline: The 1MDB scandal that led to the arrest of former Malaysian PM Najib. (2018, July 3). Retrieved from https://www.reuters.com/article/us-malaysia-politics-najib-timeline/timeline-the-1mdb-scandal-that-led-to-the-arrest-of-former-malaysian-pm-najib-idUSKBN1JT1CZ

• Company overview

• In OCTOBER 4

Ms. Rosmah Mansor facing charges like tax evasion, money laundering.

• OCTOBER 11

Mr. Najib faces more than more than forty charges He did not confess until now.

They'll put him on trial on the charges of embezzling around $4.5 Billion from 1MBD in Malaysia.

now Malaysia’s ruling coalition want to fix the fiscal deficit

  • Burroughs, C. (2019, August 9). The bizarre story of 1MDB, the Goldman Sachs-backed Malaysian fund that turned into one of the biggest scandals in financial history. Retrieved from https://www.businessinsider.com/1mdb-timeline-the-goldman-sachs-backed-malaysian-wealth-fund-2018-12#an-estimated-45-billion-was-misappropriated-from-1mdb-by-high-level-officials-and-their-associates-between-2009-and-2014-the-us-department-of-justice-has-alleged-razak-has-consistently-denied-wrongdoing-the-scandal-spreads-across-a-number-of-companies-and-financial-institutions-with-eye-watering-sums-involved-3.
  • Main players

1MDB an abbreviation of 1Malaysia Development Berhad. Malaysian state fund, Najib Razak created 1MDB in 2009 to investment and growth.

How they got caught?

• Najib Razak : former Prime Minister in Malaysia, his wife Rosmah Mansor.

• Jho Low

Mastermind and connecting point between every member in the 1MDB .

• Mahathir Mohamad:

want to leading Malaysia.

• Timothy Leissner

He admitted that he's laundering money.

• Penalties

The supposed misappropriation of 1MDB cash somewhere in the range of 2009 and 2012 went unchallenged until 2015.That year, English columnist Clare Rewcastle-Dark colored, who ran the site Sarawak Report, was given 227,000 spilled archives specifying the profundity of misrepresentation.The Malaysian enemy of debasement organization (MACC) started examining and was going to give a warrant for the executive's capture when Najib acted.The Money Road Diary was additionally given reports.

In July, Najib was captured in connection to cash that had streamed into his own financial balances from assets associated with 1MDB.In September, he was captured once more, this time on 25 charges incorporates nine checks of accepting illicit fixes, five tallies of utilizing unlawful continues and seven tallies of moving the returns to partners.He argued not blameworthy to all charges, which aggregately convey prison sentences of over 100 years.

• Suggest internal control measures to prevent similar incidents

The authorities in Asia, the United States and Europe coordinated their investigations into the course of funds from 1MDB, as well as legal approaches to Goldman and asset recovery. Their findings could identify gaps in the global financial system that help narrow the scope of corruption and help fill it. Also put more than a trustworthy financial controller checks every month on financial measures.

Thanks for listening

Logo

Learn more about creating dynamic, engaging presentations with Prezi