Malaysia: 1MDB wired $850m to entity named to appear linked to IPIC

Malaysia: 1MDB wired $850m to entity named to appear linked to IPIC

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, REUTERS/Olivia Harris

In what seems to be the latest revelation of 1Malaysia Development Bhd’s (1MDB) deepening financial scandal, the Wall Street Journal reported that the investment fund had wired at least $850 million in 2014 to an offshore entity set up to appear that it was owned by an Abu Dhabi sovereign-wealth fund.

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