Malaysia’s prime minister accused of swiping $700 million from government investment fund

Mark Frauenfelder 10:18 am Fri Jul 3, 2015

mpm

In 2009 Malaysian prime minister Najib Razak announced that the government was taking over a private investment fund called 1MDB. When a parliament member asked why, Najib replied in a letter, “By doing this, the country’s wealth can be distributed evenly among the people irrespective of race.”

Apparenty, Najib's idea of wealth distribution is wiring $700 million of the funds into his personal accounts, according to the Wall Street Journal. Also, since Najib took over the fund, it has amassed $11 billion in debt. The Prime Minister says he didn't take the funds, and that he is the victim of “political sabotage.”

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