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Business Unusual - How the Malaysian strategic development company, 1MDB was looted
Manage episode 322913309 series 1529968
Malaysia’s 1MDB fund raised $6,5 billion in bonds with reportedly $4 billion (about R60 billion) being looted and shared among those that set up the fund and the Prime Minister of Malaysia.
The story thankfully reveals that the scam was discovered and that many involved are facing the consequences, but it has left Malaysia with a debt of over $7 billion.
The lessons for South Africa include just how long it takes to prosecute cases like this and how sentences may not seem to fit the scale of the crime, it also shows that even if you do expose the corruption you may not get to prosecute everyone.
Image credit: Siftography on 123rf.com
See omnystudio.com/listener for privacy information.
277 episode
Manage episode 322913309 series 1529968
Malaysia’s 1MDB fund raised $6,5 billion in bonds with reportedly $4 billion (about R60 billion) being looted and shared among those that set up the fund and the Prime Minister of Malaysia.
The story thankfully reveals that the scam was discovered and that many involved are facing the consequences, but it has left Malaysia with a debt of over $7 billion.
The lessons for South Africa include just how long it takes to prosecute cases like this and how sentences may not seem to fit the scale of the crime, it also shows that even if you do expose the corruption you may not get to prosecute everyone.
Image credit: Siftography on 123rf.com
See omnystudio.com/listener for privacy information.
277 episode
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