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LPNEWS

Malaysia To Pay $1.2B To Abu Dhabi Fund Over 1MDB Scandal

by nytimes.com posted 1year ago 529 views
<p data-para-count="228" data-total-count="228">In 2012, with help from&nbsp;Goldman Sachs, a Malaysian&nbsp;sovereign wealth fund&nbsp;called 1Malaysia Development Berhad sold $3.5 billion worth of bonds backed by an Abu Dhabi government fund to help it purchase power plants.</p> <p data-para-count="198" data-total-count="426">But behind the scenes, American officials have claimed, nearly $1.45 billion was illegally redirected to Swiss bank accounts and ultimately into the hands of some of the people involved in the deal.</p>