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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.
Misappropriation of $4.5 Billion from 1MBD in Malaysia
• Mr. Mahathir implement the Travel Ban for Najib and his wife Rosmah Mansor in MAY 12
• 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
• 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
1MDB an abbreviation of 1Malaysia Development Berhad. Malaysian state fund, Najib Razak created 1MDB in 2009 to investment and growth.
• 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.
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.
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.