Malaysians are no strangers to money politics but the high-profile
players and the amount of funds allegedly involved in the so-called "1MDB scandal" have gripped the nation.
It stems from Prime Minister Najib Razak's strategic state fund
called 1Malaysia Development Bhd (1MDB) set up in 2009 when he came into
office. The fund is meant to turn Kuala Lumpur into a financial hub.
It
started to attract national attention when it missed payments for the
$11bn (£7.1bn; €9.9bn) it owes to banks and bondholders.
Former
Prime Minister Mahathir Mohamad has said the fund has taken on too much
debt and lacks transparency. He has also criticised Mr Najib's family's
"lavish" lifestyle, which has been regularly discussed in the local
press.
Then the Wall Street Journal (WSJ) reported it had seen a
paper trail that allegedly traces close to $700m from the troubled fund
to Mr Najib's personal bank accounts.
Mr Najib is now facing calls to prove his assets are legal.
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