Tuesday Sept 6, 2016
I never lack for new scandals to discuss in the spring ethics class. Looks like 2017 will be no exception.
The Malaysian Prime Minister has apparently embezzled some $3.5 B from the Malaysian Development Bank.
Proquest does not have all articles on this one but
here are two on following the money.
http://www.wsj.com/graphics/1mdb-money-flow/
http://graphics.wsj.com/1mdb-decoded/
Who is Najib Razak?
The Malaysian prime minister at the center of the 1MDB scandal is a member of one of the most prominent political families in the country. Najib Razak’s father was a revered prime minister and leader of the political party that has ruled the country since independence. But he also helped create a system of preferences that is seen by some as a cause of corruption in Malaysian politics. Mr. Najib, who is facing protests and criticism for his role in 1MDB, has denied wrongdoing or taking any money for personal gain.
Professor Elam comment
gee, if he had a quit at say $100 million, the scam might not have been uncovered at all. Who couldn't retire on $100 M, but this is how fraudsters are caught.
And now for the Jeff Foxworthy I can't make this stuff up moment
Some of the money apparently went to finance the movie
The Wolf of Wall Street
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