Discover and read the best of Twitter Threads about #BillionDollarWhale

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THREAD: When Malaysian PM Najib was in trouble in 2016, caught up in the 1MDB scandal, he turned to China. He needed help ending global probes into 1MDB, and stopping investigations by the WSJ, and Beijing stood ready to assist. #BillionDollarWhale /1…
/2 The negotiations with China were led by Jho Low, the alleged mastermind of the 1MDB scam, according to minutes of meetings and Malaysian officials. Low offered lucrative Malaysian rail and pipeline deals to Chinese state firms. In return, Beijing would help Najib.
/3 China engaged at a high level. Here was an opportunity to deepen its One Belt, One Road infrastructure program, building massive projects in Malaysia. But the deals were not meant to be commercial, according to the minutes of meetings between Malaysian and Chinese officials.
Read 10 tweets
Our profile of Rosmah Mansor, the 21st century’s Imelda Marcos, is the most extensive yet. Malaysian prosecutors are looking at her alleged role in one of the world’s largest ever financial scandals. Read this thread on our exclusive story.…
/2 Rosmah’s parents were middle class school teachers, but the family was adopted by a Malay sultan and she lived for a while on the grounds of a palace. This gave her a taste for luxury. She told school mates she wanted to marry the Sultan of Brunei.
/3 Instead she married Najib Razak, heir to a political dynasty. She became the center of a graft network. One businessman described how he would buy state property and flip it, sharing profits with Rosmah. Another said he would buy her handbags in return for state contracts.
Read 13 tweets
These are the three questions the Finance Ministry wants Najib to answer on 1MDB. What we know so far on each question is in this thread. But only Jho Low has the entire picture. #billiondollarwhale
1) Of the $1.83B invested in PetroSaudi, at least $1B allegedly flowed to Good Star, a Seychelles shell company controlled by Jho Low. He used some of this to purchase mansions, fund partying, and gambling, and to buy a Bombardier jet, according to the DOJ. #billiondollarwhale /2
Low-controlled shell companies later transferred ownership of some properties to Riza Aziz, Najib’s stepson, according to the DOJ. Some of the money went to buy jewelry from a supplier to Rosmah. #billiondollarwhale /3
Read 7 tweets
Want to know where Jho Low has been? Read this! #billiondollarwhale…
/2 In 2015, after news broke about Mr. Low’s alleged involvement in one of the world’s largest financial scams, his patron, Prime Minister Najib Razak, instructed Low to leave Malaysia.
/3 Alleged by U.S. authorities to have stolen billions from Malaysian sovereign wealth fund 1MDB, Low’s life of exile was not too shabby. He began to spend time in Shanghai at the Peninsula Hotel apartments and the St. Regis apartments in Bangkok.
Read 7 tweets

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