Malaysia corruption
Unveiling Malaysia's 1MDB Scandal
Test your knowledge on the infamous 1MDB scandal that rocked Malaysia and the world. Dive into the web of corruption, high-profile figures, and global financial institutions that were entangled in this unprecedented financial disaster.
Take this quiz to discover:
- The key players involved
- The financial misconducts that took place
- The international ramifications of the scandal
The Wolf of Wall Street, a 2013 movie about corrupt bankers, has received financing from the 1MDB fund.
True
False
A young Malaysian financier heavily involved in embezzling the 1MDB fund, Jho Low, once dated Miranda Kerr. His generous gifts of jewelry, likely funded with 1MDB money, were sadly confiscated from Miranda once the scandal was uncovered.
True
False
Goldman Sachs initially rejected Jho Low as a client flagging the suspicious origin of his money. Yet, Timothy Leissner, Jho Low’s long-term business partner and the company’s chairman in the region, and another banker, Roger Ng, used their personal connections to reverse the decision.
True
False
Since the scandal emerged, Goldman Sachs has acknowledged its failings, addressed its corrupt corporate practices, and implemented structural reforms to prevent similar cases in the future. The company increased public transparency in Asia and banned informal business meetings with individuals who are directly or indirectly linked to local governments .
True
False
Najib Razak filed a complaint about chocolates that have gone missing from his fridge after the Malaysian police searched his home. The police had investigated the alleged theft but found no culprits. In addition to the chocolates, the police seized hundreds of designer bags, jewelry, and $38.4 million in cash.
True
False
The use of anonymous shell companies in the 1MDB scandal had led to the international legislature banning such schemes. Firms are now required to provide publicly-accessible information on their executive board and founding members. Most importantly, companies with an annual turnover of more than $500 000 are automatically audited for corrupt government links.
True
False
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