Billion dollar whale

About “Billion dollar whale”

In 2009, a Wharton graduate named Jho Low initiated a massive financial fraud that would become one of history's largest. He convinced Malaysia's prime minister, Najib Razak, to create the 1MDB investment fund. Low raised over $10 billion and siphoned billions for personal use, including financing elections, buying luxury real estate, producing Hollywood films, and hosting extravagant parties. The book, written by Wall Street Journal reporters Tom Wright and Bradley Hope, details how global banks and financial watchdogs failed to detect the scheme. The authors report that no one noticed the large, suspicious money transfers. The book was published in 2018 and had a first printing of 75,000 copies.