Former Malaysian Prime Minister Najib Razak, who was ousted in 2018 due to the 1MDB scandal, has been jailed for corruption linked to the state fund. The US has repatriated around US$1.4 billion in 1MDB funds back to Malaysia, with US Ambassador Edgard D Kagan expressing satisfaction in returning the money to its rightful owners.
The 1MDB scandal exposed the misuse of public funds by key players, including businessman Jho Low. Recently, claims surfaced about Najib’s wife, Rosmah Mansor, using 1MDB money to purchase extravagant items worth over US$346 million.
Despite being in jail, Najib continues to be embroiled in controversy, seeking house arrest based on a royal decree. The scandal has also led to investigations in other countries, with ongoing efforts to apprehend Jho Low, who is believed to be in China.
The 1MDB scandal’s ripple effects have been far-reaching, demonstrating the need for better governance and accountability in financial matters.