1Malaysia Development Berhad scandal
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1MDB Scandal: Yachts and Masterpieces at the US Press Conference
How a Development Fund Turned into a Transnational Asset Recovery Case and Pushed Mahathir into the Opposition Camp
The Public Accounts Committee had found that 1MDB was overly reliant on debt and suffered from governance failures; the US Department of Justice subsequently filed massive asset recovery lawsuits, alleging funds flowed into luxury real estate, artwork, and movies. The then Prime Minister and Finance Minister, Najib Razak, must bear the highest political responsibility.