1Malaysia Development Berhad

1Malaysia Development Berhad (1MDB) is a Malaysian government company. It is fully owned by the Minister of Finance (Incorporated).

In 2015, 1MDB became the center of a big international corruption scandal. Evidence showed money laundering, fraud, and theft. The United States Department of Justice (DOJ) said that at least US$3.5 billion was stolen from 1MDB. Later, in 2020, the figure was raised to US$4.5 billion, and Malaysia reported that 1MDB owed US$7.8 billion.

The scandal involved Prime Minister Najib Razak, which helped cause his party to lose the 2018 election. Najib was later put on trial and sent to prison.

By August 2021, the DOJ had returned US$1.2 billion of the stolen money from the U.S. back to Malaysia. Other countries also sent back smaller amounts of stolen money.

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Category:1Malaysia Development Berhad scandal