’1MDB must explain Cayman Islands fund’
1MDB – Najib’s Political Slush FundTo Prop Taib And His Cronies
1MDB NAJIB’S WATERLOO? Sudden shock resignation of external auditors triggers alarm bells
1MDB is the Malaysian national strategic development fund, which has been called a massive “slush fund,” used to further enrich corrupt politicians, strong men and corporations.
1MDB’s money was invested in a joint venture, with PetroSaudi, alleged to belong to the Saudi royal family. Prince Turki bin Abdullah bin Abdulaziz Al Saud is CEO. The Saudis invested PetroSaudis money in the Islamic banking system, where each $1US was suddenly split into 6 or 7 “Islamic bucks” which could not be redeemed for 11 years. The real money went into a Cayman Island account, where it was backed-up by equity in (so far land-locked) Turkmen gas assets.
Now the whole mess is detonating, to the embarrassment of the govt., nearly coinciding with the scandalous disappearance of Malaysian Flight 380.
ThereAreNoSunglasses 