SINGAPORE (July 20): The Edge Financial Daily, in a front page story this morning, has laid out key facts on a series of controversial transactions between 1Malaysia Development Bhd (1MDB) and PetroSaudi International, which it says amounted to a scheme to steal US$1.83 billion ($2.5 billion) from Malaysia.

It named Low Taek Jho (also known as Jho Low), Tarek Obaid and Patrick Mahony, abetted by a few 1MDB top executives, as the people behind the transactions, which started in 2009 with an initial US$1 billion investment by 1MDB and that grew to US$1.83 billion by 2011. With a flow chart detailing how funds were channelled to various parties, The Edge Financial Daily explained how the whole scheme points to fraud and international money laundering.

The Malaysian government, which owns 1MDB, has been under mounting pressure in recent months over questions about the activities of the debt-laden fund. The Edge Financial Daily, and its weekly sister publication The Edge Malaysia, have been issued a show-cause letter by Malaysia’s Home Ministry over their reporting of 1MDB.

In a note to readers accompanying The Edge Financial Daily’s latest story this morning, publisher Ho Kay Tat said this would likely be their last report on the matter. He added that the newspapers will be handing over documents obtained and used in their reporting on 1MDB to the investigating agencies, and will assist them in getting to the bottom of the matter.

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