31 Jul '15, 4pm

5 Things to Know About Probes of Malaysia's 1MDB Fund

Malaysian Prime Minister Najib Razak is trying to contain fallout from investigations into the troubled state investment fund 1Malaysia Development Bhd., which has amassed $11 billion in debt. Here are five things to know. #1: Why is Mr. Najib under scrutiny? In addition to questions raised about Mr. Najib’s oversight of 1MDB, investigators looking into the fund have traced nearly $700 million of deposits into what they believe are his personal bank accounts, The Wall Street Journal reported. The original source of the money is unclear and the government investigation doesn’t detail what happened to the money that allegedly went into Mr. Najib’s personal accounts. The turn marked the first time Mr. Najib had been directly connected to the 1MDB probes. Mr. Najib denied taking any money for personal gain. #2: Why did Mr. Najib shake up his cabinet? Mr. Najib dismissed five m...

Full article: https://sg.news.yahoo.com/5-things-know-probes-malaysias-...

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