1MDB
The 1Malaysia Development Berhad (1MDB) is a Malaysian government-owned investment fund established in 2009 to promote economic development. It aimed to attract foreign investment and support various projects in Malaysia, including infrastructure and tourism. However, it became embroiled in a massive financial scandal involving allegations of embezzlement and misappropriation of funds.
The scandal implicated several high-profile individuals, including former Malaysian Prime Minister Najib Razak, who was accused of diverting billions of dollars from the fund for personal gain. Investigations revealed that the misappropriated funds were used for luxury purchases, including real estate and artwork, leading to international scrutiny and legal actions across multiple countries.