TIL Malaysia's sovereign wealth fund resulted in the Prime Minister and a UPenn educated businessman stealing all the funds ($12bn USD)
cross-posted from: https://feddit.org/post/7637350
Cross-post from Reddit - removed post
We kicked him out of office a few years ago, then prosecuted his ass and jailed him. Happy ending? Not quite. His political party is permanently on the verge of freeing him, and there's a non zero chance he'll be PM again at some point in future. Malaysian politics are a ride.
Well, at least you got a bit further than we did in the US with our most recent corrupt head of government.
One of the main embezzlers, and leader of the country, dismissed everyone who tried to investigate him. Only a few years ago was the investigation resumed in earnest.
These funds were used to purchase [...] and the production of The Wolf of Wall Street and other films.
That's fitting.
Gee I wonder why Trump wants an easily raidable piggybank that has been demonstrated to be raidable by a government's leaders.
I worked at a semi-prominent investment firm and getting in with the sovereign wealth funds was their end-game, too. They were chomping at the bit to cozy up to the Saudis. I believe the Pandora Papers thoroughly confirmed how fucked we've been for a long time, but nobody has come close to doing them justice, and possibly never will. That's the whole point of offshore accounts in countries built to shelter rich people--the secrets are well-guarded, by design.
This is sounding ominously familiar considering what is going on a hemisphere away right now.
There's also demonstrated links between Malaysia's ex-PM and Trump's white house (attempted bribery to drop US prosecution of him and his family, $100ks spent at Mar a Lago)