Billion Dollar Whale

Key Takeaways

• 1.The incredible true story of the multi-billion dollar 1MDB scandal, showcasing one of the biggest financial frauds in history.
• 2.1MDB was a Malaysian investment fund that was used to finance the lavish lifestyles of the Malaysian elite.
• 3.The fraudsters used shell companies and front companies to hide their involvement in the scandal.
• 4.It's interesting how fraudsters can use art and gems to convert cash into relatively high liquid assets as a means of hiding money.
• 5.Most surprisingly how fraudsters store that art in museums around the world (notably the museum in Geneva mentioned in this book). Essentially a safe-haven for assets where RR can be earned by the museum for displays.
• 6.Ironic how the Falcon Bank (newly named to Falcon) in Switzerland was purchased from AIG during the financial crisis, and used to the benefit of the perpretrators.
• 7.This story hits home, because I was a teenager when the W O Wallstreet came out, and as a young American enjoyed films that starred all the movie actors mentioned in this book..
• 8.GS involved yet again in some fraud or scandal.