1Malaysia Development Berhad

US and Malaysian records set out the 1MDB scandal. The US Department of Justice said in July 2016 that more than US$3.5 billion was allegedly misappropriated from the fund and it sought over US$1 billion in assets^S1. In November 2018 it announced the indictment of Low Taek Jho, who remains at large^S2. In October 2019 it settled to forfeit assets worth more than US$700 million^S3. Goldman Sachs agreed to pay over US$2.9 billion in October 2020 and its Malaysian unit pleaded guilty^S8. In Malaysia the Federal Court affirmed the SRC International conviction of former prime minister Najib Razak in August 2022^S4.

Also known as: 1MDB, 1Malaysia Development Bhd, Terengganu Investment Authority
Headquarters: Malaysia
Records from: United States, Malaysia
Current status: 1Malaysia Development Berhad is a Malaysian state investment fund owned through the Minister of Finance. It sits at the centre of the scandal set out in US and Malaysian records^S1^S4.

Scope. This record covers the 1MDB fund and the scandal around it. It does not assess Goldman Sachs, which has its own record, and it names individuals only with their exact official status.

Claims assessed

4 claims. Scores grade the evidence for each claim, not the organization.

Supported84
The US Department of Justice said in July 2016 that it was seeking to recover more than US$1 billion in assets it alleged were traceable to the misappropriation of more than US$3.5 billion from 1MDB.
Regulator statement, 20 July 20163 records citedMoney laundering
Unresolved77
The US Department of Justice announced on 1 November 2018 that Low Taek Jho, known as Jho Low, was indicted for conspiring to launder billions of dollars embezzled from 1MDB and that he remained at large.
Regulator statement, 1 November 20183 records citedMoney laundering
Partly supported62
The Edge Malaysia reported that Jho Low, in a statement of defence, said the October 2019 settlement with the US Department of Justice did not constitute an admission of guilt or any wrongdoing.
Press report, 28 January (year not shown on page)4 records citedMoney laundering
Supported79
The Federal Court of Malaysia on 23 August 2022 unanimously upheld the conviction and 12 year jail sentence of former prime minister Najib Razak in the SRC International case.
Press report, 23 August 20226 records citedMoney laundering

Cases and proceedings

United States v. assets traceable to 1MDB (in rem)US District Court for the Central District of California. Civil. Not published on the releases we read.Stage: Low related assets resolved by the October 2019 settlement^S3
- 20 July 2016 Civil forfeiture complaints filed seeking over US$1 billion^S1
- 30 October 2019 Settlement to forfeit assets worth more than US$700 million^S3
United States v. Low Taek Jho and Ng Chong HwaUS District Court for the Eastern District of New York. Criminal. Not published on the release we read.Stage: Charges against Low pending, Low at large as of October 2026^S2
- 1 November 2018 Indictment of Low and Ng announced^S2
Public Prosecutor v Dato' Sri Mohd Najib bin Hj Abd RazakFederal Court of Malaysia. Criminal. Not published on the report we read.Stage: Conviction final. Sentence reduced by the Pardons Board in 2024. House arrest judicial review dismissed and the appeal dropped in 2026^S4^S5^S9^S10
- 22 December 2025 High Court dismisses the house arrest judicial review^S9
- 14 April 2026 House arrest appeal struck out after Najib dropped it^S10

Responses on record

Low Taek Jho (Jho Low), 28 January (year not shown on page), on The US Department of Justice announced on 1 November 2018 that Low Taek Jho, known as Jho ...
Through a statement of defence Low said the 2019 civil settlement was not an admission of guilt or wrongdoing.^S7
Najib Razak, 13 August 2025, on The Federal Court of Malaysia on 23 August 2022 unanimously upheld the conviction and 12 y...
Najib pursued a judicial review arguing an alleged royal addendum lets him serve the rest of his sentence under house arrest.^S6

Revision history

25 October 2026 Profile and 4 assessments first published. Records checked to 25 October 2026.

Source records

S1Tier A United States Seeks to Recover More Than $1 Billion Obtained from Corruption Involving Malaysian Sovereign Wealth FundUS Department of Justice, Office of Public Affairs. Government press release. 20 July 2016.DOJ press release on the July 2016 civil forfeiture complaints. Supports the amount sought and the misappropriation figure. These are allegations, not findings.
S3Tier A United States Reaches Settlement to Recover More Than $700 Million in Assets Allegedly Traceable to Corruption Involving Malaysian Sovereign Wealth FundUS Department of Justice, Office of Public Affairs. Government press release. 30 October 2019.DOJ release on the 30 October 2019 settlement to forfeit assets worth more than US$700 million. Supports that the civil case is not a criminal finding and that charges remain open.
S2Tier A Malaysian Financier Low Taek Jho, AKA Jho Low, and Former Banker Ng Chong Hwa, AKA Roger Ng, Indicted for Conspiring to Launder Billions of Dollars in Illegal ProceedsUS Department of Justice, Eastern District of New York. Government press release. 1 November 2018.DOJ release announcing the 1 November 2018 indictment of Low and Ng. Supports the charge and that Low is at large. An indictment is an allegation.
S9Tier C Najib loses bid to serve rest of jail term under house arrestThe Edge Malaysia. Press report. 22 December 2025.The Edge Malaysia report on the High Court dismissal of the house arrest judicial review. Supports that the review failed and that Najib stays in Kajang Prison until August 2028.
S10Tier C Najib drops his appeal for house arrest, court records showMalay Mail. Press report. 27 April 2026.Malay Mail report that Najib filed a notice of discontinuance and the Court of Appeal struck out the house arrest appeal on 14 April 2026 with no liberty to refile. Supports that the conviction stands.
S4Tier C Najib to serve his jail sentence from todayBernama. Press report. 23 August 2022.Bernama report quoting the Federal Court decision of 23 August 2022. Supports the final conviction and sentence. We did not read the full court judgment.
S5Tier C It's confirmed: Najib's 12-year jail term halved to 6Free Malaysia Today. Press report. 2 February 2024.Free Malaysia Today report on the Pardons Board decision in early 2024. Supports the cut to six years and RM50 million and the August 2028 release date.
S7Tier C Jho Low claims he is absolved of wrongdoing in 1MDB after resolution with US DOJThe Edge Malaysia. Press report. 28 January (year not shown on page).The Edge Malaysia report on Low's statement of defence. Origin for his claim that the settlement was not an admission of wrongdoing. Press account only.
S6Tier C Najib to proceed with judicial review on alleged Royal AddendumThe Vibes. Press report. 13 August 2025.The Vibes report on the Federal Court decision of 13 August 2025. Supports that the royal addendum judicial review may proceed and that Najib stayed in prison.
S8Tier A Goldman Sachs Charged in Foreign Bribery Case and Agrees to Pay Over $2.9 BillionUS Department of Justice, Office of Public Affairs. Government press release. 22 October 2020.DOJ release of 22 October 2020 on the Goldman Sachs resolution. Referenced for context. Goldman has its own record and is not assessed here.Link working, checked 25 October 2026