Channel: Pablito's Way

Category: Education

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Description: Jho Low stole money from the Malaysian people and blew millions on bottles and models! Find out just exactly what went wrong in this video! Subscribe to Pablito's Way below: youtube.com/channel/UCk2zuJeRutyMZSdoh0sltLA?sub_confirmation=1 New to Pablito's Way? Start here!💯 youtube.com/playlist?list=PLC9umoxByMRJQoW_PzGK-n84iLQgbQyN2 Check out some more of our favorite videos below: The Fabulous Millionaire Life of Pastor Joel Osteen⛪youtu.be/F_ZtQDoiUho The Untold Truth About the Escape From Alcatraz⛏️ youtu.be/dHMFEj3Lvyc Rappers Who Went Broke with Dumb Decisions💸 youtu.be/mQ0qYI-xbKg Follow me on Instagram! instagram.com/_pablitos_way Jho Low 1 Malaysia Development Berhad or 1MDB, was led by Jho Low, a Malaysian businessman, international fugitive, and fraudster. He’s the guy who moved $4 and a half billion dollars from the company’s fund and into his personal accounts. A-List Life Low lived in the lap of luxury, with his pockets funded by the people of Malaysia. He bought his way into the Hollywood A-List by giving extravagant gifts to the rich and famous in exchange for their exclusive company. 1MDB 1MDB was a strategic development company run by the Minister of Finance in Malaysia. It was designed to fund long-term economic development projects by partnering with global markets in the tourism, real estate, agribusiness, and energy industries. Spending Big Besides buying gifts for celebrities, Low spent money on lavish gifts for himself. He bought a $250 million 300-foot mega-yacht called Equanimity. He purchased millions of dollars worth of prime real estate throughout the United States and England. Mastermind Low, the son of a wealthy Chinese businessman in Malaysia, is the youngest of three children. He attended prestigious schools, including Harrow boarding school in the UK, Winston Churchill's alma mater, and Wharton Business School at the University of Pennsylvania. Dealmaking Low got involved with 1MDB when he advised them to accept a deal for 5 billion Malaysian Ringgit, or about $1.1 billion. On May 27, 2009, the formerly named TIA signed the deal to raise funds by issuing Islamic medium-term notes or five to 10-year loans. Failed Proposal Low made headlines when he proposed to Taiwanese pop star Elva Hsiao in Abu Dhabi. The couple emerged from a Rolls Royce at the luxurious Atlantis Hotel and stepped onto a beach lit by candles with a woman playing the harp. Top Corruption Former Malaysian Prime Minister Razak was the first to face the wrath of the justice system. In May 2018, Razak lost the general election to Mahathir Mohamad, who unexpectedly won after reopening the investigation regarding the billions of dollars stolen from 1MDB. US DOJ The United States Department of Justice went after Low and filed charges against him for his role in the 1MDB scam. In August 2021, the United States recovered and returned $1.2 billion of the misused funds to the people of Malaysia. Billion Dollar Whale A book published in 2018 called Billion Dollar Whale, written by Wall Street Journal reporters Tom Wright and Bradley Hope, details the origins of the 1MDB corruption scandal, including Low's rise to power and lavish spending.