Subject category:
Economics, Politics and Business Environment
Published by:
INSEAD
Version: 04/2021
Length: 21 pages
Data source: Published sources
Topics:
Development finance; Sovereign Wealth Funds; Infrastructure finance; Financial fraud; Corruption in public finance; Corporate culture; Compliance; Regulatory oversight; Deferred prosecution; Reputational risk; Due diligence; Financial transparency; Bribery; Fraud safeguards; Security brokers & dealers
Abstract
The case focuses on bribery and corruption in wholesale international capital markets with an emphasis on infrastructure finance - notably the theft of USD4.5 billion in proceeds from bond issues by the 1 Malasia Development Berhad (IMDB) totalling USD6.5 billion. The scandal ensnared the Malaysian Prime Minister, an Abu Dhabi Sovereign Wealth Fund, major institutional investors and the Goldman Sachs Group in one of the largest financial frauds in recent history. The scope of the case spans a host of issues from public finance to due diligence, corporate culture, executive conduct and reputational risk.
Time period
The events covered by this case took place in 2014-2021.Geographical setting
Region:
Asia
Subject category:
Economics, Politics and Business Environment
Published by:
INSEAD
Version: 04/2021
Length: 12 pages
Data source: Published sources
About
Abstract
The case focuses on bribery and corruption in wholesale international capital markets with an emphasis on infrastructure finance - notably the theft of USD4.5 billion in proceeds from bond issues by the 1 Malasia Development Berhad (IMDB) totalling USD6.5 billion. The scandal ensnared the Malaysian Prime Minister, an Abu Dhabi Sovereign Wealth Fund, major institutional investors and the Goldman Sachs Group in one of the largest financial frauds in recent history. The scope of the case spans a host of issues from public finance to due diligence, corporate culture, executive conduct and reputational risk.
Settings
Time period
The events covered by this case took place in 2014-2021.Geographical setting
Region:
Asia
Related
Subject category:
Economics, Politics and Business Environment
Published by:
INSEAD
Version: 04/2021
Length: 12 pages
Data source: Published sources