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24

Malaysia to Pay $1.2 Billion to Abu Dhabi Fund Over 1MDB Scandal

By Tony Seruga

HONG KONG — In 2012, with help from Goldman Sachs, a Malaysian sovereign wealth fund called 1Malaysia Development Berhad sold $3.5 billion worth of bonds backed by an Abu Dhabi government fund to help it purchase power plants.

But behind the scenes, American officials have claimed, nearly $1.45 billion was illegally redirected to Swiss bank accounts and ultimately into the hands of some of the people involved in the deal…

Malaysia to Pay $1.2 Billion to Abu Dhabi Fund Over 1MDB Scandal

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