This should be a bigger story than it actually is, glad it’s resurfaced again!
This needs to be talked about more, I never ever heard of this! Really well-made and informative video!
What’s sad is Malaysia is genuinely one of the most beautiful countries in the world and is spectacular with rare species of plants and animals. It’s a beautiful place with so much culture. And the people deserve better than this corruption
It’s amazing how easy it is to steal so much money… And nobody even raised an eyebrow when a 26-year-old Jho Low shows up with so much money. How can no one suspect a thing?!
I love how Goldman Sachs just dumped every faults on its marketing agent. Talking about scapegoat
I am from malaysia, corruptions existed since the 90s. A nice country with variety of natural resources but managed by a group of greedy elites.
The best thing is after been sentenced, this fellow is still roaming around freely while the citizens pay through their nose. We don’t understand what’s law & order. If an ordinary citizen is sentenced to prison, he goes straight from the courts for the holiday. What a country.
The book written by Clare Rewcastle-Brown titled The Sarawak Report is a fantastic report on this scandal. Had the fortune of meeting her and getting a signed book. Fantastic Investigative reporting.
This piece is not an accurate representation of what actually happened. Goldman Sachs played a huge role in this scandal and was not even mentioned once.
I remember this story. It’s amazing how they pull these things off
Had no idea this happened. I hope they can recover as much of this money as possible.
The irony of a massive fraud scandal paying for a film about massive fraud is just…wow.
meanwhile, law abiding citizens struggle to even open a business account..
All complicit…. MO1, Top guns in banks and even central bank who saw it happening and were the rubber stampers and conduits for it all but didn’t act or question it. All should be taken to task and charged accordingly.
Can we just take a 2s breath and appreciate the irony of funds stolen to fund a film about crooks ??? The irony is beyond imagination ! I can’t wait for the Netflix show about the biggest heist ever…
Its tragic that my country is a victim of the actions of sleezy , corrupted and greedy folks
As an Indonesian, I feel sad for our Malaysian brother. I used to feel Indonesia was much MUCH more corrupt than Malaysia, but now I feel Indonesia is a little cleaner and corrupt people on a big enough scale goes to jail every year. While Malaysia feels stagnating in fight against corruption.
All of this was hard earned middle class money. This makes my heart sink.
When an American bank say, “We’re such horrible criminals, we agree to pay back 2.9 billion dollars that we stole, and the American government says, “That’s cool, carry on. No harm no foul. We immediately trust you again.”
I love Malaysia. I hope these clowns don’t leave a lasting negative impression on overseas investors.
Why wasn’t Goodman Sachs not mentioned once in a piece about 1MDB? They helped raise and underwrite the bond deals that continues to funnel money out of Malaysia.
I belived it to be a joke at first: “Jho Low, known as a massive spender of all sorts”, in other words, Mr. YOLO liked to live his life to the fullest.
I remember seeing this on dirty money Netflix, I wanted to see more, thanks
“When all that money is coming to the US and coursing through our system, all this dirty money, it’s a major concern…” ROFL, I’m sure it is!
Whenever one shows off too much wealth, you’ll get all kinds of attention, including investigaters. Any cash amount over $10,000 transaction will be reported
9:26 I think using similarily-sounding names to well-established entities should not be enough for banks to be taken in so easily. Banks are in it and using that as an argument seems infantile, not to mention it supposedly being a token of fraud genius
Every day the divide between what’s legal and what’s criminal, grows and grows…
Either he was so smart — or the other parties involved were not so smart and now find an excuse for falling for such an obvious scam.
I have been waiting for the second part for a month now, its about time they published it already, I want to know what Goldman Sachs did
In Germany one guy went to prison for 3 month because he didn’t pay of around 270€ his fee for the state media
If I remember a Malaysia plane crashed with some of the countrys top finance people on board .
I am glad that I was not being defrauded when reading movie reviews.
Already sentenced as guilty and yet still walking around like a boss while still being a member of parliament. This country is a joke.
Thanks Bloomberg for making my Country and Sarawak state of Borneo the most famous title in your financial documentary!!!
Great video! Will you be doing anything on the money laundering scandal in British Columbia, Canada?
Crazy stuff. Trust is being harder to give.
Need a movie on this!
You guys missed a major detail. Where did 1MDB get their money to invest?
Thanks for bringing this up!
can’t wait for the next quicktake on this case
I am a student of Accountancy and Internal Auditing. I realized once the video starts, that it is a recipe for disaster. It is because based on my subject in fraud examination and auditing engagement that one person should not control much power in the corporate or in the government, Moreover, This is common because Occupational fraud the people who have position tend to do more fraudulent activities because they have much opportunity to action their activity. I think my suggestion is that, The company 1MDB should be audited yearly to show transparency to the public, and there should be segregation of duties within.
This event was so powerful that it’s able to jumpstart the decline of foreign trade in Malaysia since then.
This has been going on since the beginning of man. Greed and corruption run hand in hand. Those at the top get first dips!
In Malaysia, if you know how to play racial/religion card… You’ll be hero
Nice! our country made it to the international headlines again!
I read the book Billion Dollar Whale about this, fantastic read
No mention of Goldman Sachs’s role in all this ? Sorry, right at the end instead of at the beginning.
For causing so much destruction on the people of Malaysia and the world, the culprits are still not in jail or punished. It is not that these people are smart, but because the system are weak and lacking of cross-verification. With these as the infrastructure, how many more other people are escaping the loopholes without being punished?
Should have included more info on Goldman’s involvement.
People voted to change the government but in the end, it went back to the same oligarchs
He’s a genius!
Very interesting story. Nice coverage
0:27 “This is different from actual theft of money, or actual theft of money; this is actual theft of money.”
Wow. Building Wealth comes from information and action!
why does no one track the art auctions for financial fraud?
They all associate with one another and help each other defraud whomever they can victimize…
I can’t wait for the next part!
15mins video HOWEVER not a single mention of Goldman Sach. The real masterminds aint even najik but im not surprised cause nobody can touch those people.
The amount of fine paid to US and other regulators are more than money GS has returned to Malaysia. The amount money return is actually less than our actual loss. Wouldn’t it be fair if those fine money be returned to Malaysia.
Seems like a great deal to me: steal a few billion, live a fantastic life of luxury for years and then all you have to do is repau R50m and serve a few years in an exclusive ‘prison’ (12 year sentence means he will probably serve half that at the absolute most) and then once you’re out you will still have access to your loot. Sign me up!
We need to investigate if this is connected to IMDB
4 years down the track… nothing has changed.
After the money was gone there no way to prove any money recovered during raids is related _ cash is untraceable
I’m so innocent!! I saw billion and I clicked.
I love Jho Low. I nominate him for best idiot of the last decade. Wow!!
More of these stories!!!
So, you’re telling me that the 1MDB scandal isn’t related to the International Movie Database (IMDB)? I’m disappointed.
Joe was living – living really living with MbS in KSA.
🇩🇰The bank director of Danish bank has just been discovered in money laundering of a billion. We steal from the poor, The Danish bank, Denmark🇩🇰
“IMDB”, I thought, what has the movie data base done wrong? Oh, 1MDB…
Interesting. Look forward to the next instalment whenever that will be.
The best thing out of this that is everybody still around and hoping that this can be sweep under the carpet soon….
The irony is how a film about laundering was funded by launderers themselves. Imagine making a movie about that.
I cannot imagine Jho Low ever resurfacing after this
Push more videos thru Youtube to Malaysians … To remind them of the massive thefts, abuse of power and money laundering.
Guess what, Stolen money went into Goldman sachs Lockers.
The Burning Question: WHY is the US Govt now not allowing DS Najib’s lawyers to access the files when a US judge had granted them that right? What are they trying to hide? Also where are the 6 eyewitnesses likely culpable as well in the 1mdb case hiding? Referring to Nik Faisal, Eric Tan, Jasmine Loo, Terrence Geh, Casey Tang and of course Jho Low.
You know it’s f**ked up when a Bloomberg Quicktake video is uploaded with your face in the thumbnail.
This genuinely angers me so much. Stop talking from people who deserve so much more.
They should also use Goldman Sachs logo as well because perspective is everything 🙂
Thanks for the reminder. People forget easily.
‘BOSSKU’ is still walking around freely….amazing!!
Come and see the Battersea Power Station development in London, you will see where ‘some’ of the money has gone.
The biggest CON is Bloomberg doing real journalism
sadly corruption in Malaysia isnt a so called parasite inside the government, it is itself part and parcel of the Malaysian Government. Stability in this nation has always depended on corrupting politicians and it does not matter the ruling democratically elected party whether it is the left-leaning PKR or the ultra-right UMNO-BN.
If it happened in Indonesia , the corruptor will get 5 years sentence 1MDB is small fry compared to indonesian CORRUPTION
They( Malaysian Govt) should’ve made an example out of such leaders by sentencing him with CAPITAL PUNISHMENT, Which would have been a lesson to the future leaders of Malaysia and corrupt governance of the WORLD AT LARGE. MURDERS OF NATIONAL ECONOMY SHOULD ALSO BE SENTENCE TO DEATH OR LIFE IMPRISONMENT…. KILLER OF LIFE AND LOTTERS OF PUBLIC FUND ARE SAME….
Always I see one of this…..savy businessman that appears out of nowhere is always corruption or some BS like this
Nobody is going to talk about the Ferrari F430 that almost caused 3 cars to have a massive crash @ 12:50?
Underneath it all, MO1’s spouse plays a very important role. I don’t think things could’ve turned up like that without her influence. She turned the tap.
Not many Malaysians, especially the layman of Najib’s supporters actually understand the intricate fraud of 1MDB giving the facts that most of the infos to be obtained are in English.. Tak ramai pengikut² Najib yg Melayu² dijalanan benar² faham apakah penipuan 1MDB kerana kebanyakan maklumat adalah dlm Bahasa Inggeris. Ramai bebenor yg masih percaya yg Najib itu suci dan tak bersalah, tambah² lagi isu² perkauman dimainkan untuk menutupi cerita ini.
Normal people appeal from prison, this rich and powerful still an MP parading in and out of court with huge entourage and lots of fanfare.
I wonder what life after death for these corrupt people would be like
I believe Malaysia got to handle another round when ‘THEY’ got older, especially the wife.
“Kleptocrats” I love that term 🙂
Corruption in Malaysia is fast becoming a culture, brewed since Umno the dominant “Malay Ketuanan” party ruled the nation for 60+ years.
If you had to be very honest , there’s only four things that you will know when someone says malaysia , it’s either Malaysia is right next to Singapore , they have great food , 1MDB , and MH370
They should have called me and learn from me. I’ve been Involved In a number of cults, both as a leader and a follower. You have more fun as a follower but you make more money as a leader but nobody steals from Creed Bratton and gets away with it. The last person to do this disappeared. His name: Creed Bratton.
I think he’s a king
Happened in South Africa , luckily it was a Provincial Local Bank. Although a lot of people lost money.
Why is there no bounty of say usd100m for Jho Lo? Dead or alive…..should he really effective.
keluarga cendana: finally a worthy opponent
Shockingly he still is incredibly popular in Malaysia
another delighted story about our concerning, rich fellow people in the world; they really are pulling the cart for us.. let’s thank them………………. …thank you rich people! 😀
Sounds a bit like father Ted. ‘The money was just resting in my account ‘
In other news …. Snow is just frozen water …. So this is happening in the US every day
This story is insane
Malaysia lost 4 billion and it’s a major issue on their finances. Warren Buffett lost 4.4 billion on selling all his airlines shares.
Imagine How Many Infrastructure Can Build With $8 Billion
How they put this off, is as incredible as the movie
Billions and trillions go missing at our Federal Reserve in the US, and they say they don’t know where it went, 1MDB is nothing compared to that!
Harshad Mehta of India “LOL” I scored more than 20-25 billions$
When you have a cute looking ringleader named Jho Low, you are not going to know how low you gonna go!
This kind of theft sounds like pocket money, when compared with the brazilian petrobras/labour party scandal..
If I were to take Najib’s word that he is innocent, he would have to be a stooge-level kind of idiot to be tricked by someone like Jho Low. That’s the best case scenario for him.
I wish there’s a movie based off this story
12 years in jail and 50 million dollar fine for stealing 4 billion dollars. Wow…
Why is Jho Low being protected by the senior CCP member in China despite the interpol red alerts? Sounds dodgy.
they know who did this, seize all assets and spend jail time for each violation
I hope Malaysia won’t forget about this, just like they shouldn’t forget about the Altantuya case. far from over
This is going to be a series? Yes please!!
What do you need 567 bags for ?
After this, Am watching the movie for the 600th time!
I believe this is not his doing, JLOW, but someone close to him and much much more senior. You all make up your own mind. Looking at him, JLOW, he doesn’t look that intelligence, to me he look like a goon to me.
if they can do it, so can we
The book about this is great. Billion Dollar Whale.
I turned €1000Euro into €9000, just in one week this was only possible because I allowed Expert like Lindsay to help me with the trade,Thanks!!!!!
Southeast asia, the region where the first ladies have 3000 shoes and 526 bags and where dictators sons and daughters, co conspirators can be presidents and senators while being able to keep the billions
Bloomberg, investigate also Angola, the son of the former President was the CEO and Chairman of the Country’s sovereign Wealth Fund, he’s in jail facing 8 years because of $500M transfer from the Central Bank to offshore accounts in UK and then the money went back to Angola in form of investment….but I’m pretty sure that the amount stolen just from the Sovereign Wealth Fund is much higher because his father was in power for 38 years and his sister is the richest woman in Africa…
Somehow the monetary trail led to former bank negara governor family company account? Does bloomberg looks into that report?
Malaysia Ohhh Malaysia.. God help us
Not too different from the US but Americans are more sophisticated in not getting exposed
I wonder what Malaysia is gonna say about this video now. lol I don’t live in a country, feels like I live in a comedy.
There is no negotiation with the perpetrators of torture and killings in the world, only the search for concrete evidence and action.for Myanmar.
There should be Malay subtitles so every Malaysian in the rural regions understands how their money is being spent to fund their lifestyle They still think that those who stole money from them are their saviour
People in business needs to start reading between the lines! It’s there in plain text, Jho Low (YOLO) He even gives clues with his lifestyle. Hahaha
Grubstakers Podcast did 1MDB better
12 Years in prison and only 50M fine? After stealing 11B???? You kidding…
Just wait until they uncover the fuckery going on with gamestop
Glad you Brought this up Again
He’s not the mastermind, he’s just the face that goes public, the real mastermind you’ll never know.
They use a portion of the stolen money to fund a movie about stealing money
Omfg that’s a lot! Who needs that many bags, watches, glasses, & tiaras? Personally I’d have maybe 5-10 watches & 4-5 sunglasses. High end like Rolex’s & Ray-bands, idk what other high end names ️
Corruption in Malaysia is as habitual as having coffee or tea every morning.
Well that was wild
Malaysian logic ,”it’s fine, as long as the leaders are Malays, they will make sure we are protected from the immigrants. Islam and the Malay race precedes everything else. Corruption can be forgiven”. **40 years later, both VN and TH have higher gdp per capita than MY.
The only thing I am proud of for Malaysians is Uncle roger !
Please cover the Australian govt corruption cashgrabs via mining subsidies and water licences
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we also have one its called PMCARES fund
The guy is called YOLO what did you expect?!
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Welcome to …. Money being transferred electronically
The one person that Malaysian should blame is non others than, again I leave it to the reader. Don’t forget Najib is a student of a grand master, who owed a great debts to his father. So in Najib mind, who dare to challenge he him unless his grand master come after him. Najib was wrong. His grand master did come after him.
Please put Malay subtitles!
I thought Wolf Of Wall Street was bogus and hollow. It was a movie about excess that became excess.
It made it to a Netflix documentary
Piece of cake compared with the over $50billion stolen from Nigeria since 2015. Theft is still theft tho.
The same problem in Thailand
Money is power.
With the racial card and corruption going on in Malaysia, it will never blossom in the future. Time to save up and move out.