Thomas

74%
Flag icon
The idea was to transfer a portion of cash from the latest Deutsche Bank loan into the Cayman Islands fund. From there, 1MDB would then “redeem” this money, but immediately send it into a series of offshore vehicles set up by Amicorp, until the cash ended up back at the Cayman Islands fund. From here, 1MDB could again “redeem” the money. It was the same cash going in circles.
Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World
Rate this book
Clear rating
Open Preview