A top bundler for President Barack Obama and now Hillary Clinton previously entered into a joint venture agreement with a Malaysian sovereign wealth fund accused of embezzling more than $3 billion dollars internationally.
The troubles surrounding 1Malaysian Development Berhad (1MDB), a state investment fund created by the Malaysian government to promote economic development in the country, has garnered increased headlines in recent days after it was discovered that actor Leonardo DiCaprio’s foundation is linked to the foreign entity.
DiCaprio was slated to host a $33,400-a-head fundraiser at his Hollywood Hills home Tuesday for Hillary Clinton but backed out last minute, citing a scheduling conflict. The fundraiser was moved to the home of Justin Timberlake and Jessica Biel. The Clinton campaign denied the change of venue had anything to do with DiCaprio’s foundation being tied to the embezzlement scheme, according to the Hollywood Reporter.
The Department of Justice is investigating high-level officials at 1MDB and their associates for misappropriating $3.5 billion in funds between 2009 and 2015, according to a July press release. The U.S. government is seeking to recover $1 billion that was laundered through the United States and connected to the scandal. – READ MORE
