1MDB: The inside story of the world’s biggest financial scandal | Randeep Ramesh

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• trusted confidant to the prime minister.

• rinsed billions from the people of Malaysia through offshore accounts and shell companies in tax havens such as the Seychelles and British Virgin Islands.

• theft of hundreds of millions of dollars from a state-owned Malaysian investment fund known as 1MDB.

• 1MDB

• “the largest kleptocracy case” in US history.

• at least $3.5bn has been stolen from 1MDB.

• fund

• set up by Malaysia’s prime minister, Najib Razak, in 2009,

• promote economic development

• stolen money from 1MDB found its way to numerous associates of Najib, who subsequently went on a lavish spending spree across the world.

• Najib of receiving $681m in cash from 1MDB

• Money from 1MDB, the US also claimed, helped to purchase luxury apartments in Manhattan, mansions in Los Angeles, paintings by Monet, a corporate jet, and even financed a major Hollywood movie.

• breaks the alleged theft down into three distinct phases

• first $1bn defrauded

• “pretence of investing in a joint venture between 1MDB and PetroSaudi”

• $1.4bn

• raised by Goldman Sachs in a bond issue, misappropriated and fraudulently diverted to a Swiss offshore company

• $1.3bn, also from money Goldman Sachs raised on the market, which was diverted to a Singapore account.

• “Malaysian Official 1”

• adviser to Najib