Who is Goldman Sachs dealmaker extraordinaire Tim Leissner?

Tim Leissner was at one time the golden boy of Wall Street titans Goldman Sachs. After working his way from an associate to vice president at JP Morgan, the 45-year-old German jumped ship to Lehman Brothers, a decade before financial giant collapsed under the weight of its worthless asset-backed securities in 2009.

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Sarawak Report and Clare Rewcastle Brown

Sarawak Report is an investigative journalism online news resource that offers “an alternative vision of justice, transparency and a fairer future in Sarawak.” It is based in London. Sarawak Report’s website was blocked by Malaysia’s internet regulatory body, Malaysian Communications and Multimedia Commission (MCMC), in the summer of 2015, approximately two weeks after the website started to reported on the 1Malaysia Development Berhad scandal. Sarawak Report continued to reach the Malaysian public through Medium.com, but that was also blocked in January 2016

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FAQ About 1MDB

FAQ About 1MDB

Q1. Is 1MDB a sovereign wealth fund?

No. 1MDB is a strategic development company, wholly owned by the Government. However, unlike sovereign wealth funds, which are funded by and act as investment holding arms of the Government, we raise and invest our own capital.

1MDB’s mission is to drive the sustainable long-term economic development and growth of Malaysia by forging strategic global partnerships and attracting foreign direct investment into the country. 1MDB also participates in strategic sectors that ultimately help drive the country’s socio-economic growth.

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Petrosaudi

PetroSaudi International Ltd. or simply known as PetroSaudi is one of the biggest private limited company that base its operation in the area of oil exploration and production, where it was established in 2005 and founded by Tarek Essam Ahmad Obaid and several private investors. The co-founder and CEO of PetroSaudi, Tarek Obaid, is responsible for the company’s overall strategy, management, and high-level of political relationships. He who is a graduate from Georgetown University’s School of Foreign Service is an experience leader and has been both founder and investor in a wide range of businesses that includes technology, financial services and real estate industries.

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Jho Low

Jho Low whom born as Low Taek Jho is a Chinese person that works as an agent and as a financier in Malaysia. He who had gained notoriety in New York as a “tabloid party boy” is also reported to have a close relationship with the stepson of current Malaysian Prime Minister Najib Razak that goes by the name of Riza Aziz.He has also been associated with several high value transactions mostly in the acquisitions of businesses, luxury art and real estate, as well as philanthropy. All of the transactions made by him are often opaque which make it unclear whether he is acting as an agent or on his own behalf. In addition, he also runs a finance company in Hong Kong called Jynwel Capital.

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Terengganu Investment Authority

Before there is a company called 1 Malaysia Development Berhad (1MDB) been made viral by the media, there is an authority called Terengganu Investment Authority (TIA). The TIA which was setup with a starting fund of RM10bil in the late 2008 was been made as a sovereign wealth fund aimed at the state of Terengganu’s economic development. The authority that had appointed Tunku Mizan as the chairman for the TIA’s board of advisers will work alongside with Terengganu Menteri Besar (First Minister) in managing the oil royalty payments from the Federal Government to the state.

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What is 1MDB

 1Malaysia Development Berhad 

The starting point of 1Malaysia Development Berhad or 1MDB for short began way back in the year 2008, and it was known at that time as Terengganu Investment Authority (TIA). The name was later on changed to what it is right now, 1MDB, a company owned entirely by the Malaysian Government. One of the main reasons for the establishment of 1MDB in Malaysia was solely to push towards strategic planning along with initiatives for fostering partnerships and to promote foreign direct investment. 1MDB is independently operated and funded by the decisions that are driven by the national economy at its best interest. 1MDB for better understanding, is a huge wealth fund that has only once received RM1 million in equity at the time when the company was just starting out.

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