1MDB’s total loss estimated at RM39 billion, says anti-graft body

Sheridan Mahavera

The Centre to Combat Corruption and Cronyism (C4) has produced a report on the RM39 billion 1MDB allegedly lost through fraud and mismanagement. The report is released in Petaling Jaya today. – The Malaysian Insight pic, April 1, 2017.

SCANDAL-RIDDEN national investment fund, 1Malaysia Development Berhad (1MDB), has lost an estimated RM39 billion through fraud and mismanagement, said an anti-graft watchdog, most of which is irrecoverable.

The losses, which were revealed in a report by the Centre to Combat Corruption and Cronyism (C4), come on the heels of a March 29 government announcement that the firm has paid off its short-term loans.

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