1MDB (One Malaysia Development Berhad)

1MDB (1Malaysia Development Berhad) was a Malaysian government-owned investment fund established in 2009 to promote economic development and infrastructure projects. However, it became widely known for a major financial scandal involving allegations of misappropriation, corruption, and money laundering. Billions of dollars were reportedly diverted from the fund for personal use and criminal activities, leading to investigations across multiple countries. The scandal implicated high-level officials and claimed billions of dollars, raising concerns about governance, transparency, and accountability in Malaysia’s public institutions.