UAE envoy to US involved in Malaysia graft scandal: Report

‘Leaked documents reportedly implicate Emirati ambassador to the US Yousef al-Otaiba in a multibillion-dollar corruption scandal surrounding Malaysian state fund 1Malaysia Development Berhad (1MDB).
The Wall Street Journal (WSJ) reviewed the court and investigative data and reported on Saturday that the companies connected to Otaiba had received a total of $66 million allegedly from 1MDB stolen funds.
The 1MDB fund was set up by Malaysian Prime Minister Najib Razak in 2009 in a bid to turn the capital, Kuala Lumpur, into a financial hub and boost the economy through strategic investments.
In early 2015, however, allegations of a vast international scheme of embezzlement and money-laundering involving 1MDB money began to emerge.’
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