The Malaysian Anti-Corruption Commission arrested Najib Razak in 2018 over a suspicious transaction of over $10 million in his personal bank account from the 1MDB national sovereign fund. But thanks to whistle-blower Xavier Justo, a fuller picture of this scandal came to public attention. Justo, a former employee of PetroSaudi released documents that showed the company was part of a money laundering web of companies that helped associates of Najib siphon off over $700 million from the 1MDB fund, the fund itself with a debt of $11.73 billion by this time. Such large sums of money are unprecedented even for a country with a history of corruption like Malaysia, causing many journalists to refer to this as the biggest heist in history.
This monumental fraud may just be the tip of the iceberg with Malaysian businessman and former business partner of Najib's, Deepak Jaikishan, coming forward and confirming that money had been laundered for much longer in the form of luxury goods, jewelry and as cash. As investigations into 1MBD continues both in Malaysia and internationally (Australia, Hong Kong, Indonesia, Luxembourg, Seychelles, Singapore, Switzerland, the UAE, the UK and the US) further details are coming out against Najib, such as Ken Brown of the Wall Street Journal receiving evidence that the massive amount of money in Najib’s personal account came from 1MBD related companies, and not from the Saudi Royal family as claimed. Moving forward it is clear Najibs guilt seems increasingly clear, serving a jail sentence and the recovery of the stolen assets will be the only viable course for such a big deception.