1MDB: Giant ponzi scheme or strategic investment fund?
1MDB's colourful family and friends
A description of all the key players and advisers of 1MDB.
Regarding Taek Jho Low (also known as J Low), it is mentioned that he rubbed shoulders with Paris Hilton, Jamie Foxx and Leonardo DiCaprio.
The article doesn't mention the RM 5 million that J Low spend on a single evening in Dubai, trying to woe Taiwanese singer Elva Hsiao, according to this article:
"Although she was touched to tears, Elva allegedly rejected his 'proposal'."
A rather expensive rejection. But at least J Low still has the following priceless memory:
1MDB loans to PetroSaudi put nearly RM6 billion at risk
Up to RM4 billion in bond pricing losses
Another relevant article is from the Financial Times blog:
1MDB of Malaysia’s $1.75bn bond: one puzzle wrapped up in another
"The ingredients were always going to be interesting…
- Ananda Krishnan, or AK, one of Malaysia’s richest tycoons: check.
- 1MDB, a Malaysian sovereign wealth fund: check.
- Goldman Sachs: check.
- Sheikh Mansour-led Ipic of Abu Dhabi: check."
"Bankers are wondering why an Abu Dhabi government investment fund would guarantee what is essentially Malaysian sovereign debt. After all, 1MDB has secured a Malaysian state guarantee in the past. Why is a Gulf emirate, many miles away, guaranteeing this bond?"
Many questions are asked in the articles, but not many answers given, 1MDB seems to be shrouded in secrecy, which is not good, since it is owned by the Malaysian public. Hopefully one day we all will know what exactly has happened and why.