![]() This time, $790.3 million disappeared into the look-alike Aabar. Again, the fund paid a high price, and, like Tanjong, Genting made payments to a Najib-linked charity. ![]() “Five months later, Goldman launched Project Maximus, buying another $1.75 billion in bonds to finance 1MDB’s acquisition of power plants from the Malaysian casino-and-plantations conglomerate Genting Group. ![]() Now, with the elections approaching, the account was about to become a lot more active.”īillion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World Najib had used most of the initial infusion to pay off crony politicians, as well as on jewelry and a $56,000 expense at Signature Exotic Cars, a high-end car dealership in Kuala Lumpur. Joanna Yu, a middle-level AmBank executive, was tasked with taking instructions from Low about incoming wires and outgoing checks. But ANZ’s management had no idea about this secret account’s existence. ![]() The Australian and New Zealand Banking Group, known as ANZ, owned a minority stake in AmBank, giving it the right to appoint executives and board members. To avoid questions, Cheah and Low had seen to it the account was marked as one used for internal bank transfers, meaning it would not be visible to compliance staff. “The following year, Low had arranged for $170 million from the Goldman-prepared power-plant bonds to fill Najib’s account. ![]()
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