A report regarding incoming loot was talked about by a young Malaysian financier in which some saw the transactions being done were traced and arriving from overseas. Moreover, the people involved are those that have a notable position and power.
According to Dow Jones, a sender known as Jho Low imposed the need for concealment, which pertained to a transcript of messages that were traced by The Wall Street Journal. The employee defined that the bank's chief executive should keep an aliased "PM" anonymous, including the name, address or identification on the transactions.
After a number of days, $681 million worth in a divided two transfers at AmBank Bhd., which is to be deposited to the personal account of Malaysian Prime Minister Najib Razak, backed up by a number of documents. Generally, as the global investigators chose to dig further on in the case, the estimate of siphoned funds go as far as $6 billion, as per Today USA Extra.
Mr. Low was remembered of being within Mr. Najib's close group of friends, and after a thorough investigation, it was found that Mr. Low's actions influences and connections have played a significant part in the diversion of 1MDB funds that controlled hundreds of millions of dollars. It was said that he had a central role to play with the prime minister being the enabler of the party. Moreover, as per Wall Street Journal, Mr. Low was the recipient of 1MDB funds, though he was quick to deny the allegations.
In his defense, Mr. Low declared that he was a mere occasional and unofficial adviser to 1MDB or 1 Malaysia Development Bhd. In the same manner, the fund denied wrongdoings and the payments given to Mr. Najib's accounts. It was also further clarified that the $681 million deposited to the accounts came from the Saudi Arabian royal family that made a donation to the minister, most of which was returned.
Mr. Low's connections were also considered part of the diversion for the 1MDB money transfers. As for Mr. Najib, he was cleared of the accusations after the justification of the fund transfer's allocation.
