Malaysia-Abu Dhabi link a key challenge in 1MDB probe

Investigators have summoned former and current directors and officials of 1Malaysia Development Berhad for questioning, and slapped travel bans on several of them, government officials said.
Investigators have summoned former and current directors and officials of 1Malaysia Development Berhad for questioning, and slapped travel bans on several of them, government officials said.PHOTO: REUTERS
The seeds for 1MDB were sown in 2009 when Mr Low Taek Jho (left) mooted a plan to create a sovereign wealth fund. 1MDB chief executive Arul Kanda Kandasamy (right) was sacked on Thursday.
The seeds for 1MDB were sown in 2009 when Mr Low Taek Jho (left) mooted a plan to create a sovereign wealth fund. 1MDB chief executive Arul Kanda Kandasamy (right) was sacked on Thursday.PHOTOS: THE STAR/ASIANEWSNETWORK, BLOOMBERG
Investigators with Mr Najib Razak's former special officer Amhari Efendi Nazaruddin outside the court last week.
Investigators with Mr Najib Razak's former special officer Amhari Efendi Nazaruddin outside the court last week.PHOTO: MALAYSIAN ANTI-CORRUPTION COMMISSION

Major financial concessions, special dispensation for individuals part of deal

A settlement between troubled Malaysian state fund 1Malaysia Development Berhad (1MDB) and a clutch of state-owned Abu Dhabi entities involved major financial concessions from both governments, a review of documents and interviews with officials and executives with knowledge of the transactions reveal.

More startlingly, it called for the special dispensation that no legal action could be taken against individuals involved in the transactions, The Sunday Times has found.

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A version of this article appeared in the print edition of The Sunday Times on July 01, 2018, with the headline 'Malaysia-Abu Dhabi link a key challenge in 1MDB probe'. Print Edition | Subscribe