Earlier this week, Malaysia’s top prosecutor Attorney General Mohamed Apandi Ali cleared PM Najib Razak of any wrongdoing in connection with some $681 million that landed in his bank account back in 2013.

The money was “a personal donation” from the Saudis, the investigation found and no further information was necessary. That, we said, was unlikely to satisfy critics.

Critics like former PM Mahathir Mohamad, the “founding father” of modern Malaysia who has a series of questions about the alleged “donation” including the following:

  • “It seems there was a letter by a Saudi stating that a sum of US$681 million or RM2.08 billion was a donation for the PM’s contribution to the fight against Islamic terrorists. Who is this Arab?”
  • “How does he have the huge sum of money to give away?”
  • “What is his business?”
  • “What is his bank?”
  • “How was the money transferred?”
  • “What documents prove these?”
  • “Just a letter from a deceased person or some non-entity is enough for the A-G?”
  • All good questions and questions that we suggested will likely never be answered. 

    As a reminder, all of this stems from multiple investigations into 1MDB, Malaysia’s controversial development fund that many say functions as a slush fund for the PM and other corrupt politicians. 

    1MDB was set up by Najib in 2009 and owes some $11 billion thanks in no small part to a series of bond deals arranged by Goldman Sachs (GS) banker Tim Leissner, whose wife Kimora Lee is close friends with Najib’s wife Rosmah Manso. Those deals were quite lucrative for Goldman. Leissner effectively bought the bonds for the bank’s own books at 90 cents on the dollar. That discount amounted to a hefty underwriting fee. 

    This week, we learned that Leissner is taking a “personal leave” and will relocate from Singapore (through which the “donation” from the Saudis flowed) to Los Angeles. 

    In the latest news out of the 1MDB saga, “Switzerland’s chief prosecutor said on Friday a criminal investigation into state fund 1Malaysia Development Berhad (1MDB) had revealed that about $4 billion appeared to have been misappropriated from Malaysian state companies,” Reuters reports.

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