This publication looks back on the raft of stories concerning the scandal-warped Malaysian fund and some of major developments so far.

The unfolding saga of the 1Malaysia Development Berhad has been one of the largest financial scandals to have hit Asia. The group, know more widely as 1MDB, describes itself on its corporate website in the rather bland terms of being a “strategic development company wholly owned by the Ministry of Finance”. 

In recent years, it has been alleged that politicians, businessmen and various other characters have siphoned off hundreds of millions of dollars from 1MDB, laundering money via a number of financial hubs, including Singapore, Switzerland the US. The story has reached the level of “truth being stranger than fiction” when it was alleged that illicit funds from 1MDB were used to finance the movie about a Wall Street crook called The Wolf of Wall Street, starring Leonardo di Caprio, no less.

The shock election result in 9 May of veteran Malaysian politician Mahathir Mohamed, defeating the government of Najib Razak, has seen the former premier accused, arrested and charged with corruption. The Mahathir regime has stepped up efforts to go after those it claims used 1MDB as a money laundering vehicle. 

Authorities in Singapore, Switzerland, the US and elsewhere have acted: Singapore kicked out BSI and Falcon Private Bank, for example. Investigations continue. It is probable that other institutions may be punished or censured.

This news service has covered a number of stories about the scandal and will continue to track developments. Here is a selection:

Swiss Banking Duo Caught Up In 1MDB Scandal

Hong Kong Reportedly Refused To Arrest Alleged 1MDB Corruption Mastermind

Switzerland Details Extent Of Malaysian Dirty Money Probe

Ex-Goldmans Banker In Talks Over Malaysian Dirty Money Scandal

Shock Malaysian Poll Result Turns Heat Up On 1MDB

Malaysia Authorities Arrest Ex-Premier Over 1MDB Corruption Claims

Malaysian Leader Proves Vow To Reopen 1MDB Probes

Wolf Of Wall Street Producer Settles Claims Over Dirty Malaysian Cash

JP Morgan To Be Probed Over AML Failings As 1MDB Saga Rolls On

Singapore Bans 1MDB Jailbird From Capital Markets, Financial Advisory For Life

Notorious Jho Low Hits Back At Wrongdoing Claims Tied To 1MDB

Singapore's Regulator Sets Out Why Crackdown On Dirty Money Was Needed

MAS Fines Credit Suisse, UOB For Transactions Linked To Malaysia's 1MDB

Swiss Regulator Sanctions, Fines Coutts $6.5 Million Over AML Lapses Relating To 1MDB

MAS Closes Falcon Private Bank In Singapore; Branch Manager Arrested; Fines For Two More Private Banks

EDITORIAL COMMENT: Singapore Ends Any Doubt About How Seriously It Takes Dirty Money