$681 Million In Mystery Money Found In Malaysia PM’s Bank Account Was “Personal Donation” From Saudis

Over the course of the last six months, we’ve documented the curious case of 1MDB, Malaysia’s government investment fund founded in 2009.
It’s a long and exceptionally convoluted story that doesn’t exactly lend itself to a concise summary but suffice to say that the development bank was something of a black box right from the beginning and in 2013, some $680 million allegedly tied to 1MDB ended up in Malaysian PM Najib Razak’s personal bank account just prior to an election.
There are any number of twists and turns in the 1MDB story including two bond offerings facilitated by a Goldman banker with ties to Najib and his wife, some shenanigans with a subsidiary of an Abu Dhabi sovereign wealth fund, a questionable Cayman Islands account or two, a dispute with KPMG, and anAustralian firm that specialized in Malaysian penny stocks, but at the end of the day, Malaysians just want to know what exactly will come of an investigation into how Najib ended up with nearly three quarters of a billion dollars.
As it turns out, nothing will come of the investigation. On Tuesday, Malaysia’s top prosecutor Attorney General Mohamed Apandi Ali cleared Najib of any wrongdoing and ordered the probe into the transfer closed.

This post was published at Zero Hedge on 01/26/2016.