1
00:00:02,000 --> 00:00:07,000
Downloaded from
YTS.MX
2
00:00:08,000 --> 00:00:13,000
Official YIFY movies site:
YTS.MX
3
00:00:50,216 --> 00:00:53,928
Have you heard of Jho Low?
4
00:00:54,012 --> 00:00:55,638
- Jho Low?
- Yeah.
5
00:00:55,722 --> 00:00:57,182
- I don't know.
- Jho Low.
6
00:00:58,141 --> 00:01:00,101
I've never heard of Jho Low.
7
00:01:00,185 --> 00:01:02,771
1MDB was created by
the Malaysian government
8
00:01:02,854 --> 00:01:03,980
with the ultimate goal
9
00:01:04,064 --> 00:01:07,484
of improving the well-being
of the Malaysian people.
10
00:01:08,068 --> 00:01:11,529
The funds that were stolen from 1MDB
11
00:01:12,697 --> 00:01:14,991
were used to fund Jho Low
12
00:01:15,075 --> 00:01:18,036
and his family and friends'
lavish lifestyle.
13
00:01:18,119 --> 00:01:22,749
{\an8}This is the largest kleptocracy seizure
in US history.
14
00:01:22,832 --> 00:01:26,461
It was just outright greed
and kleptocracy.
15
00:01:26,544 --> 00:01:30,507
...more than $3 billion
that was stolen from 1MDB
16
00:01:30,590 --> 00:01:32,717
and laundered through a complex web,
17
00:01:32,801 --> 00:01:35,553
with bank accounts
in countries around the world.
18
00:01:35,637 --> 00:01:37,180
The investigation is ongoing.
19
00:01:37,263 --> 00:01:40,600
The way I see it is
concentric circles of knowledge.
20
00:01:41,559 --> 00:01:43,269
At the center is Jho Low.
21
00:03:04,851 --> 00:03:06,352
I like to plan my evenings
22
00:03:06,436 --> 00:03:09,355
and make sure that I always go
to the best parties.
23
00:03:10,189 --> 00:03:14,444
Jho Low was like this Roman candle
that just burst onto the scene
24
00:03:14,527 --> 00:03:21,659
{\an8}and became so flashy and well-known that
there was no hiding it or denying it.
25
00:03:21,743 --> 00:03:25,246
Malaysia in the house!
26
00:03:29,459 --> 00:03:32,045
He was a man that had
so much mystery around him.
27
00:03:32,128 --> 00:03:35,089
{\an8}No one knew where he was really
getting this money from.
28
00:03:37,383 --> 00:03:39,427
{\an8}My job literally was to hang out
29
00:03:39,510 --> 00:03:42,889
{\an8}in every hot club in Manhattan
till the lights went on
30
00:03:42,972 --> 00:03:45,683
just to observe
what the celebrities were doing.
31
00:03:45,767 --> 00:03:47,227
I remember this guy
32
00:03:47,310 --> 00:03:50,438
always being in the center
of these huge tables, right?
33
00:03:50,521 --> 00:03:52,815
Surrounded by these celebrities.
34
00:03:53,316 --> 00:03:57,445
And then you had this, like,
short little Asian guy spraying Cristal.
35
00:03:59,030 --> 00:04:03,117
He was surrounded by the likes of
Leonardo DiCaprio and Paris Hilton.
36
00:04:03,201 --> 00:04:05,536
Bradley Cooper
went to a lot of his events.
37
00:04:05,620 --> 00:04:06,829
Robert de Niro was there.
38
00:04:06,913 --> 00:04:09,040
Kanye West, and Jamie Foxx.
39
00:04:09,123 --> 00:04:10,667
I got a friend.
40
00:04:10,750 --> 00:04:13,795
You know, he got some money.
He got some money.
41
00:04:13,878 --> 00:04:18,132
He flew me, Leonardo DiCaprio, Jonah Hill,
42
00:04:18,216 --> 00:04:20,468
and some other cats,
and we flew to Australia.
43
00:04:20,551 --> 00:04:23,096
We did the countdown in Australia,
then jumped back on the plane,
44
00:04:23,179 --> 00:04:24,806
and then did the countdown in Vegas.
45
00:04:24,889 --> 00:04:25,932
That's crazy.
46
00:04:27,600 --> 00:04:29,143
{\an8}So, for Jho Low's birthday,
47
00:04:29,227 --> 00:04:32,230
{\an8}he rented out a five-acre lot
on the Las Vegas strip.
48
00:04:32,313 --> 00:04:35,483
I mean, this party was absolutely bananas.
49
00:04:35,566 --> 00:04:37,610
Every single celebrity
in Hollywood was there,
50
00:04:37,694 --> 00:04:40,822
from Kanye West to Kim Kardashian,
Leo DiCaprio,
51
00:04:40,905 --> 00:04:44,075
Benicio del Toro, Michael Phelps.
52
00:04:44,158 --> 00:04:45,243
300 people.
53
00:04:45,326 --> 00:04:47,245
Everybody had to sign an NDA
54
00:04:47,328 --> 00:04:48,955
before they walked through the door.
55
00:04:49,038 --> 00:04:51,958
He had a little bit of a crush
on Britney Spears.
56
00:04:52,041 --> 00:04:54,377
He paid her a million dollars
to come out on stage
57
00:04:54,460 --> 00:04:57,714
and pop out of a fake birthday cake.
58
00:04:57,797 --> 00:04:58,631
It was crazy.
59
00:04:59,132 --> 00:05:01,884
Some of these parties that Jho Low threw
were so legendary,
60
00:05:01,968 --> 00:05:04,137
{\an8}there was no party that
was better than that party.
61
00:05:04,220 --> 00:05:06,264
We're all thinking, like,
how does this man
62
00:05:06,347 --> 00:05:09,976
attract all these big-time
Hollywood celebrities?
63
00:05:10,059 --> 00:05:12,020
What we didn't realize is
64
00:05:12,103 --> 00:05:16,065
a lot of them were getting paid
just to be there.
65
00:05:16,149 --> 00:05:18,484
Shouldn't their managers or agents say,
66
00:05:18,568 --> 00:05:20,820
"Guys, something doesn't add up here.
Who is this guy?"
67
00:05:22,030 --> 00:05:24,574
At the end of the day, it's a check.
68
00:05:24,657 --> 00:05:26,409
It's payday. It's money.
69
00:05:26,492 --> 00:05:29,370
If you look at Leonardo DiCaprio's friends
over the years,
70
00:05:29,454 --> 00:05:30,747
he always has a Jho Low.
71
00:05:30,830 --> 00:05:33,416
I don't think Jho Low
and Leonardo DiCaprio were close.
72
00:05:34,417 --> 00:05:36,419
I actually spoke recently to someone
73
00:05:36,502 --> 00:05:38,588
who was on the yacht once with Leo,
74
00:05:38,671 --> 00:05:40,965
and Leo actually asked this guy, like,
75
00:05:41,049 --> 00:05:42,925
"Everybody says the money is clean,
but are you sure?"
76
00:05:43,009 --> 00:05:44,177
"Like, do you know anything about it?"
77
00:05:44,260 --> 00:05:46,137
And this person reassured him,
like, "Oh, it's fine."
78
00:05:46,220 --> 00:05:48,222
You know, "This is how the world works."
79
00:05:48,306 --> 00:05:49,182
Money is money.
80
00:05:49,265 --> 00:05:53,644
Everybody wants it, and a lot of people do
whatever it's going to take to get it.
81
00:06:07,825 --> 00:06:09,202
Jho Low
82
00:06:09,285 --> 00:06:12,955
{\an8}is a fat Chinese boy
83
00:06:13,039 --> 00:06:18,377
{\an8}who I first discovered
partying with Paris Hilton,
84
00:06:18,461 --> 00:06:21,589
drinking bottles of Cristal champagne.
85
00:06:21,672 --> 00:06:22,840
I have no idea what that is.
86
00:06:24,133 --> 00:06:28,721
{\an8}Both kind of idiotically brazen
and somewhat...
87
00:06:29,555 --> 00:06:31,849
{\an8}I hate to use genius, but clever.
88
00:06:33,601 --> 00:06:36,479
Jho Low is a crazy guy.
89
00:06:37,230 --> 00:06:41,067
{\an8}Some people say that he's smart,
he's clever, but I say he's not.
90
00:06:41,150 --> 00:06:43,444
{\an8}He's a crazy guy because I don't see
91
00:06:43,528 --> 00:06:45,822
how he thought he could get away with it.
92
00:06:46,364 --> 00:06:48,616
It was just a matter of time
before he was caught.
93
00:06:48,699 --> 00:06:50,952
Jho definitely, for a young person,
94
00:06:51,035 --> 00:06:54,288
really understood quickly
how the world works.
95
00:06:54,372 --> 00:06:57,166
Somebody once told me that
one of his favorite films was
96
00:06:57,250 --> 00:06:58,626
The Count of Monte Cristo.
97
00:06:58,709 --> 00:07:00,837
You know, obviously,
it's better known as a book.
98
00:07:02,380 --> 00:07:03,297
But he watched the film.
99
00:07:04,382 --> 00:07:09,137
In that film, the guy is able to reinvent
himself with all this money.
100
00:07:09,220 --> 00:07:11,139
These big parties he was throwing
101
00:07:11,222 --> 00:07:14,183
gave him this kind of
mysterious power over people.
102
00:07:14,267 --> 00:07:15,560
Jho Low knew early on that,
103
00:07:15,643 --> 00:07:18,020
if he could be the wizard
behind the curtain,
104
00:07:18,104 --> 00:07:20,982
sort of like the wizard
wandering around the edges of the party,
105
00:07:21,065 --> 00:07:22,900
that he would have a bigger status.
106
00:07:24,986 --> 00:07:26,821
He went to private school in Europe.
107
00:07:26,904 --> 00:07:29,991
Harrow has become
one of Britain's most expensive schools.
108
00:07:30,074 --> 00:07:32,952
No fewer than seven prime ministers
have been taught here.
109
00:07:33,494 --> 00:07:36,664
{\an8}And then he got his degrees at Wharton.
110
00:07:36,747 --> 00:07:39,584
{\an8}But no one in Malaysia had a clue
who he was
111
00:07:39,667 --> 00:07:42,962
{\an8}except, thanks to Najib's stepson,
112
00:07:43,045 --> 00:07:45,131
{\an8}Riza Aziz,
113
00:07:45,214 --> 00:07:47,049
{\an8}he got to know the prime minister
114
00:07:47,133 --> 00:07:50,052
{\an8}and Riza's mommy, Rosmah.
115
00:08:02,315 --> 00:08:05,026
At that point, Najib was
the minister of defense,
116
00:08:05,109 --> 00:08:07,361
and so Jho was interested in this.
117
00:08:07,445 --> 00:08:09,030
This is a powerful political family.
118
00:08:09,822 --> 00:08:11,616
Sometimes, the Najib family
referred to themselves
119
00:08:11,699 --> 00:08:14,994
as the Kennedys of Malaysia,
which is very generous.
120
00:08:16,329 --> 00:08:19,165
{\an8}When Jho Low was creating this
first company called Wynton,
121
00:08:19,248 --> 00:08:20,958
{\an8}Riza could be involved somehow.
122
00:08:21,042 --> 00:08:23,503
{\an8}He had the right pedigree,
the right background,
123
00:08:23,586 --> 00:08:24,629
{\an8}the right name
124
00:08:24,712 --> 00:08:27,673
{\an8}to kind of lend some legitimacy
to the company.
125
00:08:27,757 --> 00:08:31,010
Najib was born
with a silver spoon in his mouth.
126
00:08:31,093 --> 00:08:32,386
His family comes from
127
00:08:32,470 --> 00:08:36,224
an aristocratic family
in the state of Pahang.
128
00:08:36,307 --> 00:08:37,934
His father, Tun Razak,
129
00:08:38,017 --> 00:08:41,854
{\an8}was the second prime minister of Malaysia.
130
00:08:41,938 --> 00:08:43,564
He was born for the job.
131
00:08:44,607 --> 00:08:46,943
He was destined
to be prime minister one day.
132
00:08:47,026 --> 00:08:48,736
It was just a matter of time.
133
00:08:49,278 --> 00:08:54,075
A portrait, my favorite portrait
of my late father
134
00:08:54,158 --> 00:08:56,536
when he was prime minister.
135
00:08:56,619 --> 00:09:01,999
I decided to pose in the same,
in almost the same manner,
136
00:09:02,083 --> 00:09:06,462
and juxtapose the two in one photograph.
137
00:09:06,546 --> 00:09:09,966
So, that's how it came about.
138
00:09:13,636 --> 00:09:16,681
Prime minister, you've introduced
the concept of 1Malaysia.
139
00:09:17,306 --> 00:09:19,475
What is 1Malaysia to you?
140
00:09:19,559 --> 00:09:20,851
1Malaysia is about
141
00:09:20,935 --> 00:09:24,188
a sense that we are together
as one people.
142
00:09:30,611 --> 00:09:34,156
1MDB was created, at least ostensibly,
143
00:09:34,240 --> 00:09:40,037
{\an8}as a development fund,
as a fund intended to raise money
144
00:09:40,121 --> 00:09:44,959
{\an8}and help the development
of infrastructure in Malaysia.
145
00:09:48,462 --> 00:09:50,756
{\an8}A country that has a lot of excess money
146
00:09:50,840 --> 00:09:53,676
will take that excess
surplus government money,
147
00:09:53,759 --> 00:09:56,178
invest it in business projects and deals,
148
00:09:56,262 --> 00:09:58,723
so that they can make a profit
for their governments.
149
00:09:59,223 --> 00:10:01,017
The Kuwaitis have a famous one.
150
00:10:01,559 --> 00:10:03,269
So does Qatar,
151
00:10:03,352 --> 00:10:04,270
so do the Saudis,
152
00:10:04,353 --> 00:10:07,064
and so does the UAE.
153
00:10:07,148 --> 00:10:10,610
Malaysia came up
with the same idea in 1MDB.
154
00:10:10,693 --> 00:10:14,030
In contrast, 1MDB didn't have any money.
155
00:10:14,113 --> 00:10:16,032
It didn't have
156
00:10:16,115 --> 00:10:19,744
a supply of excess government cash
that it could invest,
157
00:10:19,827 --> 00:10:21,662
so it went out and it borrowed it.
158
00:10:21,746 --> 00:10:22,997
It acquired debt.
159
00:10:24,040 --> 00:10:28,794
The idea of borrowing billions of dollars
160
00:10:28,878 --> 00:10:33,174
to invest it back into Malaysia
and back into infrastructure
161
00:10:33,257 --> 00:10:36,886
and things that are going to
better the lives of Malaysians
162
00:10:36,969 --> 00:10:38,721
is a noble idea.
163
00:10:38,804 --> 00:10:40,806
The first thing they did
was to announce that
164
00:10:40,890 --> 00:10:44,894
they were going to build
the tallest skyscraper in Malaysia
165
00:10:44,977 --> 00:10:48,481
and to build one more shopping mall,
166
00:10:48,564 --> 00:10:51,651
as if KL needed any more,
167
00:10:51,734 --> 00:10:53,152
and then the next thing you know,
168
00:10:53,235 --> 00:10:56,155
they're investing money in Saudi Arabia.
169
00:10:56,238 --> 00:10:59,533
What does that have to do with Malaysia
170
00:10:59,617 --> 00:11:02,536
and with trying to find
the new sources of economic growth
171
00:11:02,620 --> 00:11:03,704
for the 21st century?
172
00:11:05,956 --> 00:11:08,626
But very little information
was made available publicly
173
00:11:08,709 --> 00:11:10,461
because it was not a listed company.
174
00:11:10,544 --> 00:11:14,215
So what we did was,
we got whatever was publicly available
175
00:11:14,298 --> 00:11:16,842
and then we started asking questions.
176
00:11:16,926 --> 00:11:18,719
Why this? Why that?
177
00:11:18,803 --> 00:11:23,349
I was stopped many times from pursuing
178
00:11:23,432 --> 00:11:27,561
any form of queries
or investigations into 1MDB.
179
00:11:28,062 --> 00:11:31,690
What is the purpose of the loan
that was given to 1MDB?
180
00:11:31,774 --> 00:11:36,112
But even then,
I never expected it to be so wrong,
181
00:11:36,195 --> 00:11:38,864
to be so huge in nature.
182
00:11:39,573 --> 00:11:41,534
There were murmurings about
183
00:11:41,617 --> 00:11:43,202
some transactions were not kosher,
184
00:11:43,285 --> 00:11:44,620
and, of course, Jho Low.
185
00:11:45,913 --> 00:11:48,707
Everybody had heard about Jho Low by then
186
00:11:48,791 --> 00:11:51,335
and that he was involved in 1MDB.
187
00:11:52,253 --> 00:11:57,216
As newsmen, sometimes we
can feel or smell something.
188
00:12:01,470 --> 00:12:03,055
1MDB, yes?
189
00:12:03,139 --> 00:12:04,640
{\an8}Well, it's, ah...
190
00:12:05,933 --> 00:12:10,229
{\an8}It's an organization
set up by our former PM.
191
00:12:12,273 --> 00:12:15,943
Then the rest are...
192
00:12:16,026 --> 00:12:18,446
The rest are all in the news.
193
00:12:21,157 --> 00:12:22,992
{\an8}Yeah, I heard about 1MDB.
194
00:12:23,075 --> 00:12:26,162
{\an8}It's something very...
195
00:12:26,245 --> 00:12:27,413
{\an8}It's a champion of the world?
196
00:12:27,496 --> 00:12:29,206
It's kind of complicated, you know?
197
00:12:31,459 --> 00:12:33,627
Companies are, in a sense, legal fiction.
198
00:12:33,711 --> 00:12:37,089
{\an8}There must be always human individuals,
human personalities,
199
00:12:37,173 --> 00:12:40,301
{\an8}directing and deciding for companies.
200
00:12:40,384 --> 00:12:43,971
Who are the people making
the big decisions for 1MDB?
201
00:12:44,054 --> 00:12:47,600
It's definitely between Najib and Jho Low.
202
00:12:47,683 --> 00:12:51,562
They are the two people controlling it
and directing the affairs.
203
00:12:51,645 --> 00:12:54,064
{\an8}Najib was prime minister,
204
00:12:54,148 --> 00:12:55,941
{\an8}he was finance minister,
205
00:12:56,025 --> 00:12:58,402
{\an8}and he also was the chairman of 1MDB.
206
00:12:59,153 --> 00:13:01,780
So, the pattern would go
something like this.
207
00:13:01,864 --> 00:13:06,076
Jho Low goes to the president of 1MDB,
who reports to Najib,
208
00:13:06,160 --> 00:13:08,621
and says, "The boss wants you to do this."
209
00:13:09,163 --> 00:13:12,958
So, the president
of 1MDB says, "Oh, okay."
210
00:13:13,042 --> 00:13:17,505
{\an8}And then Najib signs off on that
as Chairman of 1MDB,
211
00:13:17,588 --> 00:13:20,925
{\an8}and it has to be reviewed
by the finance ministry,
212
00:13:21,008 --> 00:13:23,928
{\an8}and the minister of finance, who is Najib,
213
00:13:24,011 --> 00:13:25,721
{\an8}says, "Sounds good to me."
214
00:13:25,804 --> 00:13:27,473
{\an8}And then it's reviewed
by the prime minister,
215
00:13:27,556 --> 00:13:29,058
{\an8}who also happens to be Najib.
216
00:13:31,101 --> 00:13:33,646
{\an8}There were absolutely
no checks or balances.
217
00:13:34,605 --> 00:13:38,609
Jho Low never had
any official role in 1MDB,
218
00:13:38,692 --> 00:13:41,445
but he's always seen
with the prime minister.
219
00:13:41,529 --> 00:13:46,951
Obviously, the 1MDB executives knew that
220
00:13:47,034 --> 00:13:49,745
Jho Low actually calls the shot.
221
00:13:49,828 --> 00:13:54,041
What he says is what the
prime minister wants.
222
00:13:54,124 --> 00:13:55,793
What is never clear
223
00:13:55,876 --> 00:13:58,212
is the relationship
between the two of them.
224
00:13:58,295 --> 00:14:01,215
Who is the puppet master
and who is the puppet?
225
00:14:01,298 --> 00:14:04,969
That's a riddle because it's really
between the two of them.
226
00:14:05,678 --> 00:14:09,056
Jho Low used political connections,
227
00:14:09,139 --> 00:14:10,808
whether it was in the United States
228
00:14:10,891 --> 00:14:13,102
or whether it was in Saudi Arabia,
229
00:14:13,185 --> 00:14:15,229
{\an8}or the UAE, or Malaysia,
230
00:14:15,312 --> 00:14:18,649
to then get an in to make
the business deals that he wanted to do.
231
00:14:18,732 --> 00:14:22,319
One of the things he did was
he was able to facilitate a relationship
232
00:14:22,403 --> 00:14:24,822
between the Malaysian political elite,
233
00:14:24,905 --> 00:14:29,368
{\an8}i.e., Prime Minister Najib,
and the Abu Dhabi elite.
234
00:14:29,451 --> 00:14:32,162
{\an8}So, Jho Low's first connection
was Yousef Al Otaiba.
235
00:14:32,246 --> 00:14:34,915
{\an8}He met him when he was in college
and got introduced to him
236
00:14:34,999 --> 00:14:38,085
back when Yousef Al Otaiba
was not a globally known name.
237
00:14:39,587 --> 00:14:42,131
Jho Low was kind of this up-and-coming guy
238
00:14:42,214 --> 00:14:45,509
{\an8}who reached out to him
to ask for advice on
239
00:14:45,593 --> 00:14:50,014
you know, how to navigate
the halls of power in the Gulf,
240
00:14:50,097 --> 00:14:54,143
and Otaiba took a lunch with him
and took a liking to him.
241
00:14:55,436 --> 00:14:58,230
Yousef started doing introductions
for Jho.
242
00:14:58,314 --> 00:14:59,940
Jho would do deals with those people,
243
00:15:00,649 --> 00:15:02,902
and then he would pay Yousef money
244
00:15:02,985 --> 00:15:04,320
as almost kind of like a commission
245
00:15:04,403 --> 00:15:07,615
for helping make the introduction
or helping make the deal.
246
00:15:07,698 --> 00:15:10,826
One of Jho Low's earliest enterprises
247
00:15:10,910 --> 00:15:17,333
{\an8}was Abu Dhabi Malaysia Kuwaiti
Investment Fund.
248
00:15:17,416 --> 00:15:20,210
{\an8}So, he had been boasting
about Sheikh Otaiba
249
00:15:20,294 --> 00:15:23,088
{\an8}as one of his fancy
Middle Eastern contacts.
250
00:15:23,172 --> 00:15:25,466
It seems that Otaiba was clearly
251
00:15:25,549 --> 00:15:29,094
a very important early contact
for Jho Low.
252
00:15:29,178 --> 00:15:30,554
He and his allies
253
00:15:30,638 --> 00:15:33,766
were doing everything they could
for Jho Low,
254
00:15:33,849 --> 00:15:36,477
and it definitely appeared as if
255
00:15:36,560 --> 00:15:39,605
they were benefiting quite strikingly.
256
00:15:40,856 --> 00:15:42,316
There are always
257
00:15:42,399 --> 00:15:45,903
{\an8}what we sometimes call fixers,
258
00:15:45,986 --> 00:15:49,615
operators, for those in power.
259
00:15:49,698 --> 00:15:51,533
They never have any official role,
260
00:15:52,368 --> 00:15:54,703
but they are the ones
connected to the power.
261
00:15:54,787 --> 00:15:58,582
Everyone was talking about 1MDB
as Najib's slush fund.
262
00:15:58,666 --> 00:16:01,502
It was known that his advisor on this fund
263
00:16:01,585 --> 00:16:05,422
had been this rather flamboyant
young Chinese guy,
264
00:16:05,506 --> 00:16:08,842
but no one really knew more than that.
265
00:16:08,926 --> 00:16:11,053
The media is very cautious in Malaysia,
266
00:16:11,136 --> 00:16:12,346
so it was all whispers.
267
00:16:13,055 --> 00:16:15,975
I started writing about this
from a safe distance.
268
00:16:16,058 --> 00:16:18,560
No local journalists
could do these stories,
269
00:16:18,644 --> 00:16:20,771
and I had the internet, so I was reaching
270
00:16:20,854 --> 00:16:23,899
a large and very interested
Malaysian audience.
271
00:16:24,942 --> 00:16:27,069
Christmas of 2013,
272
00:16:27,152 --> 00:16:30,280
{\an8}Najib's notorious wife, Rosmah Mansor,
273
00:16:30,364 --> 00:16:33,575
{\an8}who was always considered to be
the pants in that household,
274
00:16:33,659 --> 00:16:36,495
informed the education ministry
that she wanted
275
00:16:36,578 --> 00:16:40,040
every school child in Malaysia
to see a film.
276
00:16:40,124 --> 00:16:43,127
The upcoming Wolf of Wall Street
was to be shown in schools.
277
00:16:43,210 --> 00:16:45,921
I started to go through
the launch pictures,
278
00:16:46,422 --> 00:16:50,342
{\an8}and then there was Najib's stepson,
Riza Aziz, the producer,
279
00:16:50,426 --> 00:16:53,262
{\an8}and next to him, always, Jho Low.
280
00:16:53,345 --> 00:16:57,016
Riz and Jho, thank you for being
not only collaborators
281
00:16:57,099 --> 00:16:59,977
but taking a risk on this movie, truly.
282
00:17:01,729 --> 00:17:04,523
That was just a electric moment
283
00:17:04,606 --> 00:17:08,027
because it was there in plain sight
what was going on.
284
00:17:09,486 --> 00:17:12,740
Paris Hilton began hanging out
with Jho Low,
285
00:17:12,823 --> 00:17:17,578
and he flew her via private jet
to Whistler in Canada
286
00:17:17,661 --> 00:17:20,330
for this opulent ski vacation.
287
00:17:20,414 --> 00:17:23,751
Joey McFarland came along
with Paris Hilton.
288
00:17:24,293 --> 00:17:26,378
Riza Aziz was there too,
289
00:17:26,462 --> 00:17:30,507
and this is the first time
that Joey and Riza had met.
290
00:17:31,008 --> 00:17:34,178
{\an8}Riza was a movie buff, supposedly.
291
00:17:34,261 --> 00:17:37,890
{\an8}Joey McFarland had come to LA from
Kentucky, and, at one point,
292
00:17:37,973 --> 00:17:40,809
{\an8}he had become a purse carrier
for Paris Hilton around town,
293
00:17:40,893 --> 00:17:44,063
{\an8}but he got connected in
this whole little group,
294
00:17:44,146 --> 00:17:45,689
and that really made his career.
295
00:17:45,773 --> 00:17:48,776
I mean, he suddenly became
a real producer on big films
296
00:17:48,859 --> 00:17:50,569
because he was the only one of the three,
297
00:17:50,652 --> 00:17:52,488
Jho, Riza, and Joey,
298
00:17:52,571 --> 00:17:54,948
who actually had any knowledge whatsoever
299
00:17:55,032 --> 00:17:57,951
of how films are made
or what a producer might do on a film.
300
00:17:58,035 --> 00:18:00,204
So, that's how they came up with the idea
301
00:18:00,287 --> 00:18:02,331
to create their own company, Red Granite.
302
00:18:03,499 --> 00:18:07,503
Look, this was an incredibly hard film
to get financed from the onset.
303
00:18:07,586 --> 00:18:10,756
I'm thankful to the people that
we ran into in Red Granite
304
00:18:10,839 --> 00:18:12,174
that were willing to take a gamble
305
00:18:12,257 --> 00:18:14,927
on making a very adult American epic
306
00:18:15,010 --> 00:18:17,012
about, you know, the state of our culture.
307
00:18:17,096 --> 00:18:19,890
There is no nobility in poverty.
308
00:18:20,516 --> 00:18:23,602
I have been a rich man
and I have been a poor man,
309
00:18:23,685 --> 00:18:25,646
and I'd choose rich every fucking time.
310
00:18:25,729 --> 00:18:26,730
Yeah! Right!
311
00:18:26,814 --> 00:18:29,274
Suddenly, Leo and Martin Scorsese
312
00:18:29,358 --> 00:18:32,027
thought they could fund
all their slate, you know,
313
00:18:32,111 --> 00:18:34,655
using this connection,
and actually, at the time,
314
00:18:34,738 --> 00:18:37,699
Jho Low told everyone that
it was Abu Dhabi money
315
00:18:37,783 --> 00:18:39,409
that was backing it.
316
00:18:39,493 --> 00:18:41,203
I knew this was a massive story.
317
00:18:41,286 --> 00:18:43,789
I didn't have anything but questions.
318
00:18:43,872 --> 00:18:47,960
Sometimes, questions are everything.
319
00:18:48,043 --> 00:18:51,755
So, I asked if the hundreds
of millions of dollars
320
00:18:51,839 --> 00:18:55,050
that were going into
the Wolf of Wall Street production
321
00:18:55,134 --> 00:18:58,554
had any connection with
the billions of dollars
322
00:18:58,637 --> 00:19:02,391
that were not being accounted for in 1MDB.
323
00:19:06,395 --> 00:19:10,858
{\an8}On the issue of 1MDB, I was the first
to raise it publicly and in parliament.
324
00:19:10,941 --> 00:19:13,360
I have made a request.
325
00:19:13,443 --> 00:19:18,782
Hopefully, they will look into it
and investigate accordingly.
326
00:19:18,866 --> 00:19:22,286
That led me to my imprisonment afterwards.
327
00:19:25,581 --> 00:19:29,126
This is an admission that we have no cash!
328
00:19:29,793 --> 00:19:32,963
By the end of 2013,
329
00:19:33,046 --> 00:19:38,218
that is nearly four years after
1MDB has been established,
330
00:19:38,302 --> 00:19:43,891
there were enough glaring red flags
331
00:19:44,474 --> 00:19:50,522
that tells me there's a shitload of issues
332
00:19:50,606 --> 00:19:55,027
or even scandals to be uncovered
underneath 1MDB.
333
00:19:56,236 --> 00:20:00,324
What we did was we decided
that we gotta go
334
00:20:00,407 --> 00:20:03,619
and look back at all their transactions,
335
00:20:03,702 --> 00:20:07,873
and our first article was actually
in February of 2014.
336
00:20:07,956 --> 00:20:10,876
It was a cover story in The Edge Weekly,
337
00:20:10,959 --> 00:20:14,671
and it was simply titled "The 1MDB Story."
338
00:20:16,006 --> 00:20:18,800
Well, I, by that time,
was doing what journalists do,
339
00:20:18,884 --> 00:20:20,052
asking everyone, you know.
340
00:20:20,135 --> 00:20:21,803
"Do you know anything about this 1MDB?"
341
00:20:21,887 --> 00:20:23,096
"Have you got any leads?"
342
00:20:23,180 --> 00:20:26,600
And I heard from someone
that there was a guy
343
00:20:26,683 --> 00:20:30,229
who was indicating that
344
00:20:30,312 --> 00:20:35,901
he had the inside data on 1MDB,
345
00:20:35,984 --> 00:20:37,236
and he was trying to sell it,
346
00:20:38,028 --> 00:20:40,280
so I got a number for him.
347
00:20:54,002 --> 00:20:56,713
It was quite frightening,
meeting with a complete stranger,
348
00:20:56,797 --> 00:20:59,800
and Bangkok's a big, dangerous city.
349
00:21:19,486 --> 00:21:22,739
{\an8}Sometimes, to make a fortune,
you have to commit a crime.
350
00:21:26,076 --> 00:21:29,288
In February 2010,
351
00:21:29,371 --> 00:21:32,332
Mr. Tarek Obaid called me
to offer me a job
352
00:21:32,416 --> 00:21:33,959
in PetroSaudi, London,
353
00:21:34,042 --> 00:21:36,044
and I was the number three of the company.
354
00:21:37,087 --> 00:21:39,381
You have two masterminds in PetroSaudi.
355
00:21:40,007 --> 00:21:42,801
{\an8}Tarek Obaid is a money-loving guy.
356
00:21:42,884 --> 00:21:45,429
{\an8}He wanted to live the
life of a billionaire.
357
00:21:47,055 --> 00:21:48,682
{\an8}Patrick Mahony is different.
358
00:21:48,765 --> 00:21:53,395
{\an8}He wanted also money, but he was
more like the deal-maker.
359
00:21:53,478 --> 00:21:56,732
He knew how to structure deals,
to use offshore companies.
360
00:21:56,815 --> 00:21:59,484
They made a deal, a joint venture,
361
00:21:59,568 --> 00:22:02,946
with this Malaysian sovereign firm
called 1MDB.
362
00:22:04,281 --> 00:22:06,533
For a joint venture,
there are two parties.
363
00:22:06,616 --> 00:22:08,744
Each of them have to bring something.
364
00:22:08,827 --> 00:22:11,872
So, the Malaysians brought the hard cash.
365
00:22:11,955 --> 00:22:14,249
PetroSaudi's side had nothing,
366
00:22:14,333 --> 00:22:18,712
so they came up with a plan
to bring in some assets,
367
00:22:18,795 --> 00:22:21,590
meaning some oil fields in Turkmenistan.
368
00:22:23,133 --> 00:22:28,138
{\an8}PetroSaudi never ever had
the possession of those oil fields.
369
00:22:28,221 --> 00:22:32,184
{\an8}Ostensibly, the joint venture
was capitalized by
370
00:22:32,267 --> 00:22:38,815
$1 billion from 1MDB,
and then, on the PetroSaudi side,
371
00:22:38,899 --> 00:22:41,318
certain energy concession rights
372
00:22:41,401 --> 00:22:43,737
in Turkmenistan and Argentina,
373
00:22:43,820 --> 00:22:47,824
purportedly valued
something like $2.7 billion.
374
00:22:49,367 --> 00:22:53,747
The Edge, an independent
financial newspaper in Malaysia,
375
00:22:53,830 --> 00:22:58,502
was actively pursuing
the stories with regards to 1MDB.
376
00:22:58,585 --> 00:23:01,922
We had to get some evidence
to prove that we were right.
377
00:23:02,005 --> 00:23:05,175
We were under nonstop attacks against us,
378
00:23:05,258 --> 00:23:09,429
saying that we were publishing
nonsense, fake news.
379
00:23:09,513 --> 00:23:11,807
Clare Rewcastle told me that
380
00:23:11,890 --> 00:23:17,771
she has obtained a possible
source from PetroSaudi
381
00:23:18,855 --> 00:23:23,819
that will unravel
the fraud that took place
382
00:23:23,902 --> 00:23:27,697
between the joint venture
of 1MDB and PetroSaudi.
383
00:23:28,865 --> 00:23:34,371
She was looking for someone
who'd be willing to fund
384
00:23:34,454 --> 00:23:36,289
the exchange of information.
385
00:23:36,373 --> 00:23:39,960
She is extremely, extremely persistent.
386
00:23:41,044 --> 00:23:44,464
The asking price was US $2 million.
387
00:23:46,007 --> 00:23:47,634
So, we then connected with Clare
388
00:23:48,260 --> 00:23:53,557
to arrange to meet her
and the whistleblower in Singapore.
389
00:23:54,391 --> 00:23:56,935
It was a sort of significant day,
390
00:23:57,018 --> 00:23:59,396
because on that morning that we met,
391
00:24:00,021 --> 00:24:03,108
the opposition leader, Anwar Ibrahim,
392
00:24:03,191 --> 00:24:07,362
was taken off in a van to jail
on a trumped-up case
393
00:24:07,445 --> 00:24:11,783
that was designed by Najib
to hobble the opposition.
394
00:24:11,867 --> 00:24:16,163
I remember very distinctly
when I walked into the lobby
395
00:24:16,246 --> 00:24:19,249
and Clare pointed out, that's the guy,
396
00:24:19,332 --> 00:24:22,961
I said to myself,
"That's not a Malaysian."
397
00:24:23,044 --> 00:24:25,589
I thought it would be a Malaysian.
398
00:24:26,173 --> 00:24:29,551
He sat down and he said,
"Look, I'll let you see what I've got,"
399
00:24:29,634 --> 00:24:33,722
and he opened up his disc
and flicked through the screen.
400
00:24:33,805 --> 00:24:35,807
Now, I'm trying to take notes.
He said, "Don't take notes."
401
00:24:35,891 --> 00:24:38,476
Well, I still did,
and there was this transaction,
402
00:24:38,560 --> 00:24:43,148
$700 million in one transaction
403
00:24:43,231 --> 00:24:46,067
into this account, Good Star Limited,
404
00:24:46,693 --> 00:24:51,198
and I remember just thinking,
"Whoa, who owns that?"
405
00:24:51,281 --> 00:24:53,325
He said, "That's Jho Low's company."
406
00:24:53,992 --> 00:24:58,121
What really happened is that 1MDB,
407
00:24:58,205 --> 00:25:02,125
instead of sending $1 billion
to the joint venture,
408
00:25:02,209 --> 00:25:04,794
sent $300 million,
409
00:25:04,878 --> 00:25:07,505
and then sent the other $700 million
410
00:25:08,256 --> 00:25:11,259
to a shell company called Good Star
411
00:25:11,343 --> 00:25:12,469
that was controlled by
412
00:25:12,552 --> 00:25:14,054
none other than Mr. Jho Low.
413
00:25:14,930 --> 00:25:15,847
At that moment,
414
00:25:15,931 --> 00:25:18,558
I knew that I had a huge story
415
00:25:18,642 --> 00:25:21,019
if I could get this data off Xavier.
416
00:25:22,395 --> 00:25:25,941
I have always wondered,
why did Justo agree
417
00:25:26,024 --> 00:25:29,236
to hand it over to us
without money being paid?
418
00:25:31,154 --> 00:25:32,989
At the end of the day,
419
00:25:33,073 --> 00:25:35,367
there were no more question of money.
420
00:25:35,450 --> 00:25:38,078
It was just a question
of doing the right thing.
421
00:25:58,682 --> 00:26:01,726
During that period,
Goldman was very, very interested
422
00:26:01,810 --> 00:26:04,479
to build a business in Malaysia.
423
00:26:04,562 --> 00:26:07,399
So, when Jho did
the first PetroSaudi deal,
424
00:26:07,482 --> 00:26:08,400
Goldman heard about it.
425
00:26:08,483 --> 00:26:10,402
"This is the guy that we need to know."
426
00:26:12,028 --> 00:26:13,738
Goldman Sachs played
427
00:26:14,948 --> 00:26:18,618
{\an8}the classical, stereotypical
428
00:26:18,702 --> 00:26:22,539
caricature role of the greedy banker
429
00:26:23,498 --> 00:26:27,752
that seeks only to maximize his profits
430
00:26:27,836 --> 00:26:32,090
regardless of the cost to society
or the world at large.
431
00:26:32,173 --> 00:26:33,842
You can wipe those tears now, huh?
432
00:26:34,384 --> 00:26:36,553
What about cash?
433
00:26:36,636 --> 00:26:37,554
Cash, cash, cash.
434
00:26:37,637 --> 00:26:39,514
{\an8}Institutionally, at Goldman Sachs,
435
00:26:39,597 --> 00:26:41,182
{\an8}"bad for the client" isn't a phrase.
436
00:26:41,266 --> 00:26:44,352
All right, we have a 24 bid now
for 12 and 13.
437
00:26:44,436 --> 00:26:47,814
Institutionally, at Goldman Sachs,
it's, "Is it good for Goldman?"
438
00:26:47,897 --> 00:26:51,776
{\an8}Well, we wanted the funds for 1MDB,
439
00:26:51,860 --> 00:26:54,571
{\an8}and, as you know, we were rather,
440
00:26:54,654 --> 00:26:57,657
you know, in a way, seduced by
the name of Goldman Sachs.
441
00:26:57,741 --> 00:27:00,452
You think Goldman Sachs is the, you know,
442
00:27:00,535 --> 00:27:03,496
the gold standard of investment banks.
443
00:27:03,580 --> 00:27:08,251
You would never imagine that
they would do something nefarious
444
00:27:08,335 --> 00:27:12,172
or something illicit
or something unethical.
445
00:27:25,685 --> 00:27:28,730
{\an8}Andrea Vella was the brains
behind structuring deals.
446
00:27:29,356 --> 00:27:32,067
{\an8}Vella had this history of arranging deals
447
00:27:32,150 --> 00:27:34,444
{\an8}that could sound good in a presentation,
448
00:27:34,527 --> 00:27:36,946
but, in reality, they were geared towards
449
00:27:37,030 --> 00:27:38,782
making Goldman Sachs a lot of money,
450
00:27:38,865 --> 00:27:41,076
sometimes at the downside of the client.
451
00:27:42,869 --> 00:27:44,537
I met Andrea Vella
452
00:27:44,621 --> 00:27:49,292
{\an8}for the first time during
my time at Goldman,
453
00:27:49,376 --> 00:27:52,879
working with
the Libyan Investment Authority.
454
00:27:52,962 --> 00:27:55,548
I became very concerned.
455
00:27:55,632 --> 00:27:59,177
There was a high probability for Libya
456
00:27:59,260 --> 00:28:02,180
to lose the full value of the investment.
457
00:28:02,263 --> 00:28:05,850
I decided to write an internal email
458
00:28:05,934 --> 00:28:08,103
to highlight why I was worried.
459
00:28:08,186 --> 00:28:13,858
The reaction that I received
was swift and extreme,
460
00:28:13,942 --> 00:28:17,529
and I knew straight away that
I would be losing my job.
461
00:28:19,239 --> 00:28:21,741
As I had anticipated,
462
00:28:21,825 --> 00:28:27,997
the value of all these trades
went down to zero.
463
00:28:31,668 --> 00:28:33,294
So, after the Libyan Investment Authority,
464
00:28:33,378 --> 00:28:35,588
Andrea Vella went to Asia,
465
00:28:35,672 --> 00:28:37,715
and that's where he got hooked up
with Tim Leissner.
466
00:28:37,799 --> 00:28:39,551
{\an8}Leissner was more of a salesman.
467
00:28:41,886 --> 00:28:42,971
{\an8}He's a relationship guy
468
00:28:43,054 --> 00:28:45,515
{\an8}that's friends with all these
billionaires and tycoons.
469
00:28:45,598 --> 00:28:47,684
That's how he got to be what he is.
470
00:28:48,601 --> 00:28:50,395
One thing that stood out right away
471
00:28:50,478 --> 00:28:52,522
was that he called himself
Doctor Tim Leissner.
472
00:28:54,524 --> 00:28:56,443
{\an8}So, I discovered that, actually,
473
00:28:56,526 --> 00:29:01,239
{\an8}this doctorate was issued
by an Indian business
474
00:29:01,322 --> 00:29:05,577
that had an office above a pizza shop
in east London.
475
00:29:07,287 --> 00:29:08,747
How could he imagine that
476
00:29:08,830 --> 00:29:11,291
that would never be found out by someone?
477
00:29:11,958 --> 00:29:14,878
The other thing we found out was,
he was really connected in Malaysia
478
00:29:14,961 --> 00:29:17,505
to some of these other
major business people
479
00:29:17,589 --> 00:29:19,382
in a way that also raised more questions.
480
00:29:21,050 --> 00:29:22,927
I'd picked up on two names.
481
00:29:23,011 --> 00:29:26,723
There was Roger Ng,
who had come from Deutsche Bank,
482
00:29:26,806 --> 00:29:30,977
and with all his political connections,
came over to Goldman Sachs,
483
00:29:31,060 --> 00:29:33,646
and was known to be working hand-in-glove
484
00:29:33,730 --> 00:29:37,942
with this bright star party guy,
Tim Leissner.
485
00:29:39,194 --> 00:29:41,279
So, Roger and Tim Leissner
486
00:29:42,322 --> 00:29:46,451
went out of their way
to be introduced to Jho Low.
487
00:29:46,534 --> 00:29:49,788
Then they said that,
"Look, the next few deals of 1MDB,
488
00:29:49,871 --> 00:29:53,333
Goldman Sachs better be
the investment banker."
489
00:29:58,755 --> 00:30:04,344
Goldman is the 400-pound gorilla
of Wall Street.
490
00:30:04,427 --> 00:30:06,262
It is one of the most storied
491
00:30:06,346 --> 00:30:08,431
and powerful banks in the world.
492
00:30:08,515 --> 00:30:10,225
They are an investment bank.
493
00:30:10,308 --> 00:30:12,352
They make their money by
494
00:30:12,435 --> 00:30:15,480
{\an8}advising clients on
financial transactions,
495
00:30:15,563 --> 00:30:17,982
everything from a merger
and an acquisition
496
00:30:18,066 --> 00:30:19,150
to raising capital,
497
00:30:19,234 --> 00:30:21,778
and then to buying and selling securities
498
00:30:21,861 --> 00:30:23,905
on behalf of other investors.
499
00:30:27,242 --> 00:30:30,370
Thank you for the invitation
to appear before you today
500
00:30:30,453 --> 00:30:32,997
{\an8}as you examine some of the causes
and consequences
501
00:30:33,081 --> 00:30:34,123
{\an8}of the financial crisis.
502
00:30:34,958 --> 00:30:37,794
To be betting against the very securities
503
00:30:37,877 --> 00:30:40,380
which you're selling to your clients,
504
00:30:40,463 --> 00:30:44,717
and, internally, your own people believe
505
00:30:44,801 --> 00:30:48,221
that these are crappy securities.
506
00:30:49,055 --> 00:30:51,599
The bad news, in your own words,
507
00:30:51,683 --> 00:30:54,894
was that your clients lose money,
508
00:30:54,978 --> 00:30:58,565
but the good news is that
Goldman Sachs made money.
509
00:30:58,648 --> 00:31:00,358
Obviously, very disconcerting.
We're a company.
510
00:31:00,441 --> 00:31:01,985
But you still got fined, I mean.
511
00:31:02,068 --> 00:31:04,571
Well, we got fined, but,
you know, everybody got fined,
512
00:31:04,654 --> 00:31:06,406
and we got fined for, yeah.
513
00:31:14,497 --> 00:31:17,208
To my knowledge,
none of the directors lost their jobs.
514
00:31:17,792 --> 00:31:20,253
It was sort of a reset and on we go.
515
00:31:20,336 --> 00:31:23,089
"Sorry about that.
We promise we won't do it again."
516
00:31:23,172 --> 00:31:25,592
After the financial crisis,
they went around the world,
517
00:31:25,675 --> 00:31:28,761
looking for other, essentially, rubes
to take advantage of
518
00:31:28,845 --> 00:31:31,389
because they had already done it
with the American people,
519
00:31:31,472 --> 00:31:34,017
and now they were looking for other people
to do bad deals with.
520
00:31:35,768 --> 00:31:37,145
They wanted to do
521
00:31:37,228 --> 00:31:40,189
sovereign wealth transactions
for Malaysia,
522
00:31:40,273 --> 00:31:42,859
but Malaysia, as a developing country,
523
00:31:42,942 --> 00:31:46,404
didn't have the financial wherewithal
to do it.
524
00:31:46,487 --> 00:31:47,447
They needed to borrow money
525
00:31:47,530 --> 00:31:50,617
from all the deep pools
of money in the world,
526
00:31:50,700 --> 00:31:54,454
so what they did was
a huge round of bond offerings.
527
00:31:54,537 --> 00:31:56,706
These looked good
because they were issued by Malaysia.
528
00:31:56,789 --> 00:31:58,124
{\an8}They were backed by Abu Dhabi,
529
00:31:58,207 --> 00:31:59,751
{\an8}so there's two sovereign nations
530
00:31:59,834 --> 00:32:01,711
{\an8}with a lot of money behind these.
531
00:32:01,794 --> 00:32:04,964
{\an8}Goldman Sachs underwrote
three different bond issuances
532
00:32:05,048 --> 00:32:08,217
{\an8}in the total amount of $6.5 billion.
533
00:32:10,178 --> 00:32:12,931
1MDB was willing to pay a premium
534
00:32:13,014 --> 00:32:15,183
to have a more confidential
535
00:32:15,266 --> 00:32:18,394
and quicker series of bond issuances,
536
00:32:18,478 --> 00:32:21,147
and they did that
without really having to show
537
00:32:21,230 --> 00:32:23,524
where the bond proceeds were gonna go.
538
00:32:24,817 --> 00:32:27,987
Goldman Sachs funded the bond transaction,
539
00:32:28,071 --> 00:32:30,698
and then they got to sell it
to investors after the fact.
540
00:32:30,782 --> 00:32:34,160
These were government deals
with these massive projects,
541
00:32:34,243 --> 00:32:38,623
power and energy plants,
roads, hospitals, bridges,
542
00:32:38,706 --> 00:32:41,334
the kind of thing that
Malaysia desperately needed.
543
00:32:42,502 --> 00:32:43,878
Our entire industry
544
00:32:43,962 --> 00:32:46,172
was built on the back of issuing bonds.
545
00:32:46,255 --> 00:32:50,927
It's a way to capitalize an
economic enterprise upfront.
546
00:32:51,010 --> 00:32:53,221
These bonds were different than that.
547
00:32:53,304 --> 00:32:56,307
One of the things about
the Goldman Sachs role that stood out
548
00:32:56,391 --> 00:32:58,726
was how much money
they had made on these bonds.
549
00:32:58,810 --> 00:33:00,478
Typically, when you arrange a bond
550
00:33:00,561 --> 00:33:02,605
for a company or especially a country,
551
00:33:02,689 --> 00:33:05,900
the profits aren't huge
because it's really safe debt.
552
00:33:05,984 --> 00:33:09,195
You know, it's backed by a country,
and so, typically,
553
00:33:09,278 --> 00:33:12,991
you could make 1%, but in this deal,
they made about 10%,
554
00:33:13,074 --> 00:33:15,410
which is just an insane amount
of money to be making.
555
00:33:15,493 --> 00:33:18,121
You would never do that deal
if you could help it.
556
00:33:18,204 --> 00:33:20,707
They should have made something
closer to $60 million.
557
00:33:20,790 --> 00:33:22,792
They made $600 million instead.
558
00:33:22,875 --> 00:33:24,752
So we covered it.
Like, it's the news, right?
559
00:33:24,836 --> 00:33:30,883
We wanted to find out, why did 1MDB
pay Goldman such huge fees?
560
00:33:31,634 --> 00:33:33,594
And I remember we did a series of articles
561
00:33:33,678 --> 00:33:35,388
and Goldman actually got a bit worried.
562
00:33:35,471 --> 00:33:37,223
We had a conference call
with Goldman Sachs,
563
00:33:37,306 --> 00:33:38,307
out of Hong Kong,
564
00:33:38,391 --> 00:33:42,395
where they keep on saying
that nothing wrong.
565
00:33:42,478 --> 00:33:45,231
All the deals were kosher.
No commission was paid.
566
00:33:45,314 --> 00:33:47,150
No brokerage fee was paid to anybody.
567
00:33:47,692 --> 00:33:51,362
Because the profit made in the Libya deals
568
00:33:51,446 --> 00:33:53,448
and in the Malaysia deals
569
00:33:53,531 --> 00:33:58,077
were in the magnitude
of hundreds of millions of dollars,
570
00:33:58,161 --> 00:34:01,998
which was quite significant
by Goldman standards,
571
00:34:02,623 --> 00:34:07,336
then the good news
of how much money was made
572
00:34:07,420 --> 00:34:12,842
would have traveled
right to the top of the organization.
573
00:34:15,261 --> 00:34:18,097
The fact that it was 10% that they made,
574
00:34:18,181 --> 00:34:20,099
that alone, you don't need
to know anything else,
575
00:34:20,183 --> 00:34:22,727
and there's no way Lloyd Blankfein
didn't know that.
576
00:34:22,810 --> 00:34:25,772
You needed the investment bankers
to be on board,
577
00:34:25,855 --> 00:34:27,690
{\an8}'cause they're the ones
who are gonna structure it.
578
00:34:27,774 --> 00:34:29,776
{\an8}They're the ones who know
how to underwrite the bonds.
579
00:34:29,859 --> 00:34:31,486
{\an8}They're the ones who know how to price it.
580
00:34:31,569 --> 00:34:35,114
{\an8}They're the technocrats who are gonna
come in and actually execute,
581
00:34:35,198 --> 00:34:40,369
and they found two bankers,
Tim Leissner and Roger Ng,
582
00:34:40,453 --> 00:34:42,789
that were willing to play ball with them.
583
00:34:42,872 --> 00:34:44,290
This deal could not have been done
584
00:34:44,373 --> 00:34:48,377
without the highest in Goldman
knowing about it.
585
00:34:48,461 --> 00:34:50,713
We now know what happened to the money.
586
00:34:50,797 --> 00:34:52,882
They actually stole most of it.
587
00:34:52,965 --> 00:34:55,468
I mean, it's absolutely crazy.
588
00:34:55,551 --> 00:34:56,636
These guys are nuts.
589
00:35:13,569 --> 00:35:15,613
A very good friend of mine in the FBI
590
00:35:15,696 --> 00:35:18,616
{\an8}was our legal attaché in Kuala Lumpur.
591
00:35:19,826 --> 00:35:23,454
He is a Malaysian American
592
00:35:23,538 --> 00:35:25,832
who spent multiple tours in Malaysia
593
00:35:25,915 --> 00:35:28,501
and was extremely well-connected
594
00:35:28,584 --> 00:35:31,838
to all their major
law enforcement entities
595
00:35:31,921 --> 00:35:33,965
and his assistant legal attaché,
596
00:35:34,048 --> 00:35:37,677
who was another extremely
competent FBI agent.
597
00:35:37,760 --> 00:35:40,721
There's nobody who knew Malaysia better.
598
00:35:40,805 --> 00:35:44,642
His knowledge and reputation
was unparalleled.
599
00:35:47,019 --> 00:35:48,229
I was one of the first
600
00:35:48,312 --> 00:35:51,440
{\an8}to staff the FBI legal attaché office
in Malaysia.
601
00:35:51,983 --> 00:35:55,278
So, my dad came out to Malaysia in 1959
602
00:35:55,361 --> 00:35:58,865
and met my mom, who is a local Malaysian.
603
00:35:58,948 --> 00:36:02,201
I was born here in Malaysia and lived here
604
00:36:02,285 --> 00:36:07,081
a good part of my childhood
and formative years
605
00:36:07,165 --> 00:36:10,877
before returning to the US
in the early '80s.
606
00:36:12,879 --> 00:36:15,089
The first time I heard about 1MDB
607
00:36:15,173 --> 00:36:18,467
was probably around 2014 or '15.
608
00:36:18,551 --> 00:36:21,846
As we started to get information about
609
00:36:21,929 --> 00:36:28,227
{\an8}this purported fraud that had transpired
through Jho Low's collaboration
610
00:36:28,311 --> 00:36:30,104
with Prime Minister Najib,
611
00:36:30,188 --> 00:36:35,151
there was this attempt to funnel money
612
00:36:35,234 --> 00:36:39,947
out of this 1MDB sovereign wealth fund,
613
00:36:40,031 --> 00:36:44,619
and that money was not going to
where it was supposed to go.
614
00:36:46,329 --> 00:36:48,414
Probably around February, March 2015,
615
00:36:48,497 --> 00:36:52,376
{\an8}Chuck called me up on
a Sunday and he said,
616
00:36:52,460 --> 00:36:55,296
{\an8}"Hey, you wanna go
to Attorney General Gani's house?"
617
00:36:55,379 --> 00:36:56,756
{\an8}Chuck had just come back
618
00:36:56,839 --> 00:36:59,508
{\an8}from Washington, D.C.
with Attorney General Patail,
619
00:36:59,592 --> 00:37:01,969
{\an8}and they had met with Director Comey,
620
00:37:02,053 --> 00:37:04,931
{\an8}and, yeah, the subject of 1MDB came up.
621
00:37:06,307 --> 00:37:10,853
Gani point-blank asked us,
622
00:37:10,937 --> 00:37:14,690
"Hey, you guys are hearing
these allegations that are out there.
623
00:37:15,608 --> 00:37:18,861
Do you believe there's
any validity to them?"
624
00:37:18,945 --> 00:37:22,281
He had asked the prime minister
625
00:37:22,365 --> 00:37:26,744
if there was any validity
to these allegations
626
00:37:27,620 --> 00:37:30,164
and was told no.
627
00:37:31,415 --> 00:37:35,586
The fact that that was
the first real inquiry
628
00:37:35,670 --> 00:37:37,630
from the Malaysian government
629
00:37:37,713 --> 00:37:39,173
was significant to me,
630
00:37:39,882 --> 00:37:42,885
and that probably is
what spurred Dave and I
631
00:37:42,969 --> 00:37:46,055
to continue to send information back.
632
00:37:48,099 --> 00:37:51,811
June 2015, I was made aware that
633
00:37:51,894 --> 00:37:57,066
the various investigations
into 1MDB had established that
634
00:37:57,149 --> 00:38:00,278
two days after the third
Goldman Sachs bond deal,
635
00:38:00,361 --> 00:38:05,032
$681 million had arrived
636
00:38:05,116 --> 00:38:08,119
into Najib's personal bank account.
637
00:38:08,869 --> 00:38:11,497
That was when The Wall Street Journal
got into the story.
638
00:38:12,873 --> 00:38:14,959
The Journal was putting
itself on the line,
639
00:38:15,042 --> 00:38:17,878
because when we were writing
that story, Boies Schiller,
640
00:38:17,962 --> 00:38:20,506
the same firm that
represented Harvey Weinstein,
641
00:38:20,589 --> 00:38:21,716
were telling us, you know,
642
00:38:21,799 --> 00:38:25,261
"You could be at very serious
risk of defamation.
643
00:38:25,344 --> 00:38:26,971
Najib has done nothing wrong."
644
00:38:29,098 --> 00:38:30,975
There's a lot of pressure on us
to answer the questions.
645
00:38:31,058 --> 00:38:32,476
To solve the case.
646
00:38:33,311 --> 00:38:37,690
When I got the data
on Najib's own bank accounts
647
00:38:37,773 --> 00:38:41,360
and I gave that to other mainstream media,
648
00:38:41,444 --> 00:38:43,321
that turned the tide on the story.
649
00:38:46,991 --> 00:38:48,951
This was the smoking gun.
650
00:38:57,209 --> 00:38:59,503
$681 million went into Najib's account.
651
00:39:00,463 --> 00:39:02,256
It's not often that a prime minister
652
00:39:02,340 --> 00:39:06,302
gets $681 million
transferred into his account,
653
00:39:06,385 --> 00:39:08,512
so that was a dynamite story.
654
00:39:26,238 --> 00:39:30,117
There were massive protests going on
in Kuala Lumpur.
655
00:39:33,412 --> 00:39:35,456
{\an8}They were called the Bersih Protests.
656
00:39:35,539 --> 00:39:40,211
{\an8}The 1MalaysiaDB, the $2.6 billion.
Where's the answer?
657
00:39:40,294 --> 00:39:43,881
We want the answer.
We need a clean government.
658
00:39:43,964 --> 00:39:46,550
The streets in Kuala Lumpur
were just packed.
659
00:39:46,634 --> 00:39:50,638
{\an8}When Najib claimed that the $681 million
660
00:39:50,721 --> 00:39:53,099
{\an8}that suddenly showed up
in his bank account
661
00:39:53,182 --> 00:39:56,102
{\an8}was a gift from a Saudi prince,
662
00:39:56,185 --> 00:39:58,604
it's very hard to suppress your laughter.
663
00:39:58,687 --> 00:40:00,731
Let's put it that way.
664
00:40:00,815 --> 00:40:05,861
Who in their right mind
would give you $681 million
665
00:40:05,945 --> 00:40:08,489
into your personal private bank account
666
00:40:08,572 --> 00:40:10,116
with no strings attached?
667
00:40:10,199 --> 00:40:13,702
I was shocked at kind of
how brazen that was.
668
00:40:13,786 --> 00:40:18,541
{\an8}It was pretty obvious that this
was related to 1MDB.
669
00:40:18,624 --> 00:40:21,585
My stories had the main effect of
670
00:40:21,669 --> 00:40:24,964
unleashing domestic investigations
in Malaysia.
671
00:40:25,840 --> 00:40:28,384
The financial intelligence unit here said,
672
00:40:28,467 --> 00:40:30,970
"Will you help us on this case?"
673
00:40:31,053 --> 00:40:34,598
And I was like, "Sure," you know,
"Whatever we can do."
674
00:40:35,307 --> 00:40:38,853
Najib had reluctantly allowed
these to go into operation
675
00:40:38,936 --> 00:40:40,271
until those investigations
676
00:40:40,354 --> 00:40:44,400
started to deliver some extremely
interesting information.
677
00:40:44,483 --> 00:40:48,904
Clearly, this fraud
had touched on US territory,
678
00:40:48,988 --> 00:40:52,158
making it under FBI jurisdiction
to investigate.
679
00:40:52,241 --> 00:40:54,452
All roads and the allegations
680
00:40:54,535 --> 00:40:58,164
led back to the prime minister,
Dato' Sri Najib,
681
00:40:58,247 --> 00:41:04,920
in collaboration with Jho Low,
mastermind of the fraud.
682
00:41:05,713 --> 00:41:08,549
That was the one and only meeting
of that little task force.
683
00:41:09,049 --> 00:41:11,802
A couple of weeks later was
Night of the Long Knives.
684
00:41:15,431 --> 00:41:17,558
At that time, there were a lot of rumors
685
00:41:17,641 --> 00:41:20,728
that they were gonna arrest
and charge Najib.
686
00:41:20,811 --> 00:41:25,191
I received an anonymously sent document.
687
00:41:25,274 --> 00:41:28,194
It was the arrest warrant for Najib Razak.
688
00:41:29,069 --> 00:41:32,114
So, I bit the bullet and I published it.
689
00:41:33,449 --> 00:41:36,702
And that was when everything went wild.
690
00:41:36,785 --> 00:41:39,371
Malaysian police raided
the attorney general's office,
691
00:41:39,455 --> 00:41:40,456
took him into custody,
692
00:41:40,539 --> 00:41:42,541
and disbanded that special task force,
693
00:41:42,625 --> 00:41:45,127
and even took away
some of their case files.
694
00:41:45,711 --> 00:41:48,214
I arrived that day
and the elevator opened,
695
00:41:48,297 --> 00:41:50,132
and it was pandemonium.
696
00:41:50,216 --> 00:41:51,550
I mean, people everywhere,
697
00:41:51,634 --> 00:41:53,260
and then I went back to the embassy
698
00:41:53,344 --> 00:41:56,722
and subsequently heard that
Gani had been retired.
699
00:41:58,641 --> 00:42:00,392
That was the end of that task force
700
00:42:00,476 --> 00:42:03,062
and the end of our overt cooperation.
701
00:42:04,730 --> 00:42:09,109
He removed the attorney general
and he suspended The Edge.
702
00:42:09,193 --> 00:42:10,569
We are very disappointed
703
00:42:10,653 --> 00:42:12,321
with the decision of the KDN.
704
00:42:12,404 --> 00:42:13,697
What is their motivation?
705
00:42:13,781 --> 00:42:17,743
That's something for them,
for other people, to answer.
706
00:42:17,826 --> 00:42:20,663
I have the honor of being the person
707
00:42:20,746 --> 00:42:25,125
most litigated against by
the sitting prime minister.
708
00:42:27,127 --> 00:42:31,465
The Malaysians had true institutions
that were doing their job.
709
00:42:31,549 --> 00:42:35,803
Najib decided to sever that independence,
710
00:42:35,886 --> 00:42:39,390
so all the institutions that should have
been able to act as a check and balance
711
00:42:39,473 --> 00:42:40,933
were immediately destroyed.
712
00:42:48,774 --> 00:42:51,902
The young lawyer
in the attorney general's office
713
00:42:51,986 --> 00:42:54,780
who had drafted that arrest warrant
714
00:42:55,698 --> 00:43:00,536
was pulled from his car on the way to work
in the middle of KL.
715
00:43:00,619 --> 00:43:01,787
Disappeared.
716
00:43:05,958 --> 00:43:09,336
The police is urging anyone
with information on an accident
717
00:43:09,420 --> 00:43:11,005
at Jalan Dutamas, Kuala Lumpur,
718
00:43:11,088 --> 00:43:13,924
on the 4th of September
at about 7:51 in the morning
719
00:43:14,008 --> 00:43:15,301
to come forward.
720
00:43:16,885 --> 00:43:19,638
{\an8}Sir, is Morais still a missing person?
There are some reports...
721
00:43:20,723 --> 00:43:25,561
A car resembling his was found right here.
722
00:43:25,644 --> 00:43:29,356
The whole area was strewn with
melted items from the car,
723
00:43:29,440 --> 00:43:33,152
a possible indication
of how big the fire was.
724
00:43:39,074 --> 00:43:43,454
He was found murdered,
his body in an oil drum.
725
00:43:44,496 --> 00:43:48,292
It succeeded in terrifying everyone.
726
00:43:48,375 --> 00:43:53,672
Every white-collar bureaucrat in Malaysia
got the message.
727
00:43:53,756 --> 00:43:57,092
You move against Najib
and that's what's gonna happen to you.
728
00:44:03,766 --> 00:44:05,517
In June 2015,
729
00:44:05,601 --> 00:44:09,647
{\an8}there was a bunch of police that came
to my house and arrested me.
730
00:44:14,443 --> 00:44:16,445
It's still very fresh in my memory.
731
00:44:19,990 --> 00:44:21,867
In a couple of seconds, I was arrested,
732
00:44:21,950 --> 00:44:24,119
thrown into the house, handcuffed,
733
00:44:24,203 --> 00:44:26,955
and that's where the nightmares started.
734
00:44:27,748 --> 00:44:30,793
Clearly, this was orchestrated
by Najib and Jho Low
735
00:44:30,876 --> 00:44:32,795
and their contacts in Thailand.
736
00:44:32,878 --> 00:44:36,590
Xavier was horrifyingly thrown into jail.
737
00:44:36,674 --> 00:44:38,676
He was treated like a terrorist.
738
00:44:38,759 --> 00:44:41,804
He was then forced to sign a confession.
739
00:44:42,346 --> 00:44:46,350
{\an8}PetroSaudi, mainly Patrick Mahony,
740
00:44:46,433 --> 00:44:50,479
were threatening my wife,
saying I will probably disappear
741
00:44:50,562 --> 00:44:51,522
and she will be arrested
742
00:44:51,605 --> 00:44:53,732
and my son will end up
in the Thai orphanage.
743
00:44:53,816 --> 00:44:55,609
I had no options.
744
00:44:55,692 --> 00:44:58,737
I mean, it's either that and you die,
745
00:44:58,821 --> 00:45:00,030
or you do whatever they want.
746
00:45:00,114 --> 00:45:02,241
So, I choose the only option I had.
747
00:45:02,324 --> 00:45:05,244
So, yes, "Give me the paper.
I will sign whatever you want."
748
00:45:05,327 --> 00:45:07,996
"Want me to confess that I killed Kennedy?
I will confess it."
749
00:45:08,080 --> 00:45:10,457
"I just want to end this nightmare."
750
00:45:13,419 --> 00:45:16,296
The story that they wanted
is that I stole the data.
751
00:45:20,592 --> 00:45:21,593
I discovered later why.
752
00:45:21,677 --> 00:45:23,595
Because by stealing the data,
753
00:45:23,679 --> 00:45:25,222
they wanted to have that
754
00:45:25,305 --> 00:45:28,183
not receivable in a court of justice.
755
00:45:28,267 --> 00:45:31,061
They wanted me to say that I cooperated
756
00:45:31,145 --> 00:45:34,231
with the journalist Clare Rewcastle Brown
and The Edge
757
00:45:34,773 --> 00:45:38,068
in order to overthrow a legit government,
758
00:45:38,152 --> 00:45:40,904
that we tampered with the data,
759
00:45:41,947 --> 00:45:43,991
and that's what I wrote.
760
00:45:45,534 --> 00:45:48,871
I spent 547 days in jail.
761
00:46:00,674 --> 00:46:01,675
Sorry.
762
00:46:02,342 --> 00:46:03,427
Some emotions.
763
00:46:05,429 --> 00:46:07,973
You have moments in your life
that you will never forget,
764
00:46:09,016 --> 00:46:11,602
and this is one of the moments
I will never forget.
765
00:46:16,565 --> 00:46:20,652
I was branded an enemy of Malaysia
by Najib.
766
00:46:20,736 --> 00:46:23,155
A request was made to Interpol by Malaysia
767
00:46:23,238 --> 00:46:26,408
to put me on their red notice list
768
00:46:26,492 --> 00:46:29,953
to be arrested at any point as a terrorist
769
00:46:30,037 --> 00:46:33,874
for activities detrimental
to democracy, as they put it.
770
00:46:33,957 --> 00:46:39,254
Unfortunately, in this part of the world,
corruption is a part of everyday life.
771
00:46:39,338 --> 00:46:40,881
I think, at the end of the day,
772
00:46:40,964 --> 00:46:43,717
you're surprised at the massive scope
of the corruption,
773
00:46:43,800 --> 00:46:48,555
but not that he was engaged
in corrupt practices.
774
00:46:50,641 --> 00:46:55,437
Malaysia was always an autocratic regime
with a velvet glove.
775
00:46:56,021 --> 00:46:58,941
At this point, Najib took off
the velvet glove.
776
00:46:59,024 --> 00:47:00,234
He was desperate.
777
00:47:00,317 --> 00:47:03,153
We were reaching the end game
778
00:47:03,237 --> 00:47:06,615
and he was struggling to survive.
779
00:47:06,698 --> 00:47:10,577
You know, a major shake-up in
the Malaysian government
780
00:47:10,661 --> 00:47:16,333
based primarily on a US investigation
was extremely tense,
781
00:47:16,416 --> 00:47:19,294
and there was a lot of pressure
being applied
782
00:47:19,378 --> 00:47:21,713
on people in the embassy to just
783
00:47:23,048 --> 00:47:26,385
go away, you know,
and stop investigating this.
784
00:47:27,594 --> 00:47:30,055
The events following
the Night of Long Knives
785
00:47:30,138 --> 00:47:34,059
changed the atmosphere in Malaysia.
786
00:47:34,142 --> 00:47:39,356
What that was designed to do
was send a clear message,
787
00:47:39,439 --> 00:47:43,860
and that objective was achieved.
788
00:47:44,778 --> 00:47:47,406
To me, anyone that believes in
789
00:47:47,489 --> 00:47:50,826
a democratic system of government
790
00:47:50,909 --> 00:47:53,161
should be absolutely appalled by
791
00:47:53,245 --> 00:47:54,913
the firing of your attorney general
792
00:47:54,997 --> 00:47:57,374
and the dismantling
of your anti-corruption commission,
793
00:47:57,457 --> 00:48:00,586
and, yeah, I think it did make our team
794
00:48:00,669 --> 00:48:02,629
just double down all that much more.
795
00:48:02,713 --> 00:48:06,049
Say, you know,
if we don't do it, who will?
796
00:48:08,552 --> 00:48:11,263
Now, our strategy changes to,
797
00:48:11,346 --> 00:48:14,600
we have our own investigation.
798
00:48:14,683 --> 00:48:17,394
We're trying to enlist assistance
from the Malaysians
799
00:48:17,477 --> 00:48:19,062
to support our investigation.
800
00:48:20,480 --> 00:48:22,482
Chuck and I both agreed that
801
00:48:22,566 --> 00:48:25,694
we were going to continue
to do what we could,
802
00:48:25,777 --> 00:48:27,904
but it would be much more covert.
803
00:48:27,988 --> 00:48:30,949
We'd have to watch what we did
and who we spoke with.
804
00:48:34,286 --> 00:48:35,829
Did someone leak to you
805
00:48:35,912 --> 00:48:37,164
the warrant for your arrest
806
00:48:37,247 --> 00:48:39,499
before the Night of the Long Knives?
807
00:48:39,583 --> 00:48:42,169
Uh, yes. There were leaks.
808
00:48:42,252 --> 00:48:45,631
There were leaks, but, you know,
809
00:48:45,714 --> 00:48:48,592
such things are hard to keep a lid on it.
810
00:48:48,675 --> 00:48:50,636
There are too many people involved in it.
811
00:48:50,719 --> 00:48:52,387
So, just to reassert this,
812
00:48:52,471 --> 00:48:55,515
you knew that there was a pending...
813
00:48:55,599 --> 00:48:57,351
There could have been.
There could have been.
814
00:48:57,434 --> 00:48:59,478
I didn't know for sure.
There could have been.
815
00:48:59,561 --> 00:49:01,521
But you had a strong suspicion.
816
00:49:01,605 --> 00:49:04,066
I was given the transcript, yes.
817
00:49:13,825 --> 00:49:15,494
I'm excited to be here.
818
00:49:15,577 --> 00:49:18,121
It surprised me the extent to which
819
00:49:18,205 --> 00:49:22,376
Mr. Low was able to establish himself
very quickly,
820
00:49:22,459 --> 00:49:24,252
being a young man,
821
00:49:24,336 --> 00:49:26,463
as a mover and a shaker
coming from nowhere.
822
00:49:26,546 --> 00:49:28,632
The Low family has been involved
in philanthropy
823
00:49:28,715 --> 00:49:29,841
for the past 70 years.
824
00:49:29,925 --> 00:49:32,010
Jho Low was trying to create
825
00:49:32,094 --> 00:49:34,096
a fictional backstory for himself
826
00:49:34,179 --> 00:49:36,056
that justified having all this money.
827
00:49:36,556 --> 00:49:38,266
We decided as the third generation
828
00:49:38,350 --> 00:49:39,810
to institutionalize this effort.
829
00:49:39,893 --> 00:49:41,728
He was trying to rebrand himself
830
00:49:41,812 --> 00:49:45,691
as the actual secret heir
of a billionaire fortune.
831
00:49:46,233 --> 00:49:48,360
Step one. We dig deep.
832
00:49:48,443 --> 00:49:51,446
Like a lot of lower-level criminals,
833
00:49:51,530 --> 00:49:53,865
they don't have a long-term plan,
834
00:49:53,949 --> 00:49:56,993
and he kind of fit that mold,
835
00:49:57,077 --> 00:49:59,162
except he was able to inject himself
836
00:49:59,246 --> 00:50:03,500
into this top 0.001% of the world.
837
00:50:04,334 --> 00:50:06,586
Step two. Collaborative design.
838
00:50:06,670 --> 00:50:10,882
{\an8}There's at least one email
where Otaiba is exchanging concerns
839
00:50:10,966 --> 00:50:12,968
{\an8}with an Emirati colleague of his,
840
00:50:13,051 --> 00:50:14,803
{\an8}saying, "What is Jho Low doing?"
841
00:50:15,512 --> 00:50:18,140
Step three. We think very long-term.
842
00:50:18,223 --> 00:50:20,475
They were saying,
"Jho, can you please calm down?
843
00:50:20,559 --> 00:50:22,436
Like, stop, you know, spending
like a million dollars
844
00:50:22,519 --> 00:50:23,854
and saying, 'Malaysia in the house.'"
845
00:50:23,937 --> 00:50:27,399
Malaysia in the house!
846
00:50:28,400 --> 00:50:30,444
Step four. We invest big.
847
00:50:30,527 --> 00:50:32,654
He's starting to become a story himself
848
00:50:32,738 --> 00:50:36,616
because of this,
his flamboyant partying around the world,
849
00:50:36,700 --> 00:50:39,828
and so there was a real concern that,
850
00:50:39,911 --> 00:50:42,956
who have we gotten ourselves
in bed with here?
851
00:50:43,039 --> 00:50:46,585
And is this going to end
the way we're worried it might end?
852
00:50:46,668 --> 00:50:49,504
And lastly, step five, we measure to grow.
853
00:50:49,588 --> 00:50:51,673
He was putting heat on himself.
854
00:50:52,299 --> 00:50:55,469
People like Leissner,
people like Yousef Al Otaiba,
855
00:50:55,552 --> 00:50:58,054
all of them were saying,
"Jho, take a lower profile."
856
00:50:58,138 --> 00:51:01,308
They were basically trying to teach him
how to do these shady deals,
857
00:51:01,391 --> 00:51:03,560
which is, you do the deals,
you make a lot of money,
858
00:51:03,643 --> 00:51:05,312
but you don't get a public profile.
859
00:51:05,395 --> 00:51:07,689
That's the number one rule,
and he was breaking that rule.
860
00:51:07,773 --> 00:51:11,026
What's unique about Jynwell Foundation
is our ability to
861
00:51:11,109 --> 00:51:13,820
cut across all borders
to achieve a common vision.
862
00:51:13,904 --> 00:51:15,655
They start worrying about
863
00:51:15,739 --> 00:51:18,617
the Department of Justice's
interest in Jho Low.
864
00:51:19,701 --> 00:51:23,580
Their lawyer informs him that
the FBI is looking for him,
865
00:51:23,663 --> 00:51:25,373
and they say to themselves,
866
00:51:25,457 --> 00:51:27,083
"Why is the Department of Justice
867
00:51:27,167 --> 00:51:30,086
looking at a scam
that originated out of Malaysia
868
00:51:30,170 --> 00:51:32,214
and may have involved the Emiratis and us?
869
00:51:32,297 --> 00:51:33,882
It doesn't have anything to do
with the United States."
870
00:51:33,965 --> 00:51:35,509
And the lawyer writes back,
871
00:51:35,592 --> 00:51:38,178
"I hate to be the bearer of bad news here,
872
00:51:38,261 --> 00:51:41,515
but the Department of Justice
considers itself
873
00:51:41,598 --> 00:51:44,601
to have jurisdiction over any transactions
874
00:51:44,684 --> 00:51:45,769
carried out in US dollars
875
00:51:45,852 --> 00:51:48,814
that went through, you know,
US financial institutions."
876
00:51:48,897 --> 00:51:51,525
Let's all think big. Let's all be bold.
877
00:51:51,608 --> 00:51:54,236
And let's really think about
our place in this world.
878
00:51:54,319 --> 00:51:56,571
You know, they say timing is everything,
879
00:51:56,655 --> 00:51:59,991
and in the 1MDB case, on multiple levels,
880
00:52:00,075 --> 00:52:03,328
I would say that timing was everything.
881
00:52:08,250 --> 00:52:11,837
There is no, ah,
882
00:52:11,920 --> 00:52:15,340
movement for changing the government.
883
00:52:15,423 --> 00:52:16,633
I don't see that.
884
00:52:16,716 --> 00:52:20,220
He was in total control again,
885
00:52:20,303 --> 00:52:22,514
just when people thought that
he was gonna fall.
886
00:52:22,597 --> 00:52:25,934
The $681 million USD
went into his account.
887
00:52:26,017 --> 00:52:27,394
How is he gonna explain it, right?
888
00:52:27,477 --> 00:52:28,728
And he was gonna be charged,
889
00:52:28,812 --> 00:52:31,314
but, all of a sudden, he just came back.
890
00:52:31,398 --> 00:52:34,776
He removed those who were
making a move against him,
891
00:52:34,860 --> 00:52:39,906
he suspended us, and then he
was totally, totally in charge.
892
00:52:40,907 --> 00:52:44,369
What had happened did not,
to me, did not affect
893
00:52:44,452 --> 00:52:47,038
the fact that we were
still gonna work this.
894
00:52:47,122 --> 00:52:49,833
Even while Najib was in power,
the Malaysian Anti-Corruption Commission
895
00:52:49,916 --> 00:52:53,461
basically worked with the FBI
to make this case possible.
896
00:52:53,545 --> 00:52:55,005
They reported to Najib,
897
00:52:55,088 --> 00:52:57,424
but they worked with the FBI on the side.
898
00:52:57,507 --> 00:52:59,217
Abu Kassim told me,
899
00:52:59,301 --> 00:53:01,678
"I'm the head of the Malaysian
Anti-Corruption Commission,
900
00:53:01,761 --> 00:53:04,472
and this is one of
the biggest corruption cases in the world.
901
00:53:04,556 --> 00:53:06,683
You know, I feel a sense of responsibility
902
00:53:06,766 --> 00:53:10,103
to work with you and to get to the truth."
903
00:53:11,479 --> 00:53:12,647
This is an individual to me
904
00:53:12,731 --> 00:53:17,861
that demonstrated
that fortitude, that bravery,
905
00:53:17,944 --> 00:53:21,489
to take a stand with what
he believed was wrong.
906
00:53:22,782 --> 00:53:24,492
He did feel this passion
907
00:53:24,576 --> 00:53:27,579
as a person who fought corruption
his entire life.
908
00:53:27,662 --> 00:53:30,123
Ultimately, it ended his career.
909
00:53:30,206 --> 00:53:35,462
Hopefully, we can continue our dream
910
00:53:35,545 --> 00:53:41,384
to see this country free of corruption.
911
00:53:46,181 --> 00:53:50,060
{\an8}My tour in Malaysia ended
and I returned to the US.
912
00:53:51,019 --> 00:53:57,609
{\an8}I felt pretty downtrodden
because there seemed to be,
913
00:53:57,692 --> 00:53:59,110
from the Malaysian perspective,
914
00:53:59,194 --> 00:54:03,615
a gag order, essentially,
on the 1MDB investigation.
915
00:54:04,824 --> 00:54:10,330
I remember, I got a message,
"Watch the news later today.
916
00:54:11,331 --> 00:54:13,249
They're going to talk about 1MDB."
917
00:54:16,836 --> 00:54:18,713
Today, the Department of Justice
918
00:54:18,797 --> 00:54:20,590
has filed a civil complaint
919
00:54:20,674 --> 00:54:22,509
seeking to forfeit and recover
920
00:54:22,592 --> 00:54:25,261
more than $1 billion in assets
921
00:54:25,345 --> 00:54:26,221
associated with
922
00:54:26,304 --> 00:54:27,681
an international conspiracy
923
00:54:27,764 --> 00:54:29,140
to launder funds
924
00:54:29,224 --> 00:54:32,018
stolen from 1Malaysia Development Berhad,
925
00:54:32,102 --> 00:54:33,979
or 1MDB.
926
00:54:34,062 --> 00:54:35,522
I can never stop thanking
927
00:54:35,605 --> 00:54:37,232
the FBI and the DOJ.
928
00:54:37,315 --> 00:54:39,067
I was so happy.
929
00:54:39,150 --> 00:54:41,903
I didn't believe that this was happening
930
00:54:41,987 --> 00:54:46,533
because we were fighting
this uphill battle for so long.
931
00:54:46,616 --> 00:54:49,327
A number of corrupt 1MDB officials
932
00:54:49,411 --> 00:54:53,248
treated this public trust
as a personal bank account.
933
00:54:53,331 --> 00:54:56,710
We had put together
the largest international corruption case
934
00:54:56,793 --> 00:54:59,629
and civil forfeiture filing
in the history of the Justice Department.
935
00:55:01,256 --> 00:55:05,343
When the FBI and the DOJ
came out and laid it out,
936
00:55:05,427 --> 00:55:07,762
exactly how the money was stolen,
937
00:55:07,846 --> 00:55:09,764
which companies it went through,
938
00:55:09,848 --> 00:55:11,266
where it ended up,
939
00:55:11,349 --> 00:55:13,893
{\an8}and how it was spent.
940
00:55:13,977 --> 00:55:15,895
{\an8}$137 million
941
00:55:15,979 --> 00:55:17,647
of the pilfered money
942
00:55:17,731 --> 00:55:19,733
was spent to purchase
works of art.
943
00:55:19,816 --> 00:55:21,317
A Bombardier jet
944
00:55:21,401 --> 00:55:24,237
with a purchase price of $35 million.
945
00:55:24,320 --> 00:55:27,741
$250 million on a silly yacht!
946
00:55:28,533 --> 00:55:32,245
They used the money to pay gambling debts
at Las Vegas casinos.
947
00:55:32,328 --> 00:55:34,998
Miranda Kerr, picked up by Jho Low
948
00:55:35,081 --> 00:55:38,585
and taken on a cruise in this super yacht
949
00:55:38,668 --> 00:55:42,964
and given $8 million worth
of matching pink diamonds
950
00:55:43,048 --> 00:55:46,259
as a Valentine's Day present.
951
00:55:46,342 --> 00:55:49,179
{\an8}Most of the stuff he bought her,
she had to give back.
952
00:55:49,262 --> 00:55:51,347
{\an8}It was seized by the government.
953
00:55:51,431 --> 00:55:54,934
He also presented her
with an acrylic see-through piano.
954
00:55:55,810 --> 00:55:59,481
The house was built
around this grand piano
955
00:55:59,564 --> 00:56:01,024
and there's no way to get it out,
956
00:56:01,107 --> 00:56:02,942
so I think the government
just threw up their hands.
957
00:56:03,026 --> 00:56:05,236
"Just keep it. Just keep the piano."
958
00:56:05,320 --> 00:56:08,990
It's perversely poetic that
959
00:56:09,074 --> 00:56:11,910
{\an8}some of the billions of dollars
stolen from
960
00:56:11,993 --> 00:56:13,036
{\an8}the government of Malaysia
961
00:56:13,119 --> 00:56:15,872
{\an8}was used to fund the movie
The Wolf of Wall Street,
962
00:56:15,955 --> 00:56:19,542
which is a movie about
greed, about excess,
963
00:56:20,251 --> 00:56:24,798
and about how money can,
at least for a time,
964
00:56:24,881 --> 00:56:27,050
make somebody seem invincible.
965
00:56:27,133 --> 00:56:31,554
Malaysians were
both horrified and hooked by this drama.
966
00:56:31,638 --> 00:56:35,600
$500 million alone
967
00:56:35,683 --> 00:56:39,270
on Rosmah's diamonds and excesses.
968
00:56:40,772 --> 00:56:44,609
Rosmah Mansor, Najib's wife, is probably
969
00:56:44,692 --> 00:56:50,990
the most vain, narcissistic,
greedy, and corrupt
970
00:56:51,074 --> 00:56:55,161
wife of a prime minister
971
00:56:55,245 --> 00:56:59,874
or sitting ruler
of any country around the world.
972
00:57:00,875 --> 00:57:04,963
There was a 22-carat,
pink, heart-shaped diamond
973
00:57:05,046 --> 00:57:07,006
that was given to Rosmah
974
00:57:07,090 --> 00:57:10,552
with funds stolen from
the Malaysian people.
975
00:57:11,427 --> 00:57:14,264
This particular asset
became one of the symbols of
976
00:57:14,347 --> 00:57:16,433
the graft of the 1MDB investigation.
977
00:57:17,475 --> 00:57:19,602
The $27 million diamond
978
00:57:19,686 --> 00:57:22,188
that Jho Low purchased for Rosmah Mansor
979
00:57:22,272 --> 00:57:25,567
came from funds that passed through
980
00:57:25,650 --> 00:57:30,280
the bank account of
the person named in the complaint
981
00:57:30,989 --> 00:57:34,492
as Malaysian Foreign Official One.
982
00:57:34,576 --> 00:57:36,119
Because of my role with DOJ,
983
00:57:36,202 --> 00:57:40,081
I can't identify, you know, on camera.
984
00:57:40,165 --> 00:57:43,084
I can't say who Malaysian Official One is.
985
00:57:47,046 --> 00:57:50,300
It sends a message to kleptocrats that,
986
00:57:50,383 --> 00:57:52,427
if you take your illicit proceeds
987
00:57:52,510 --> 00:57:55,013
and bring them to a place
like the United States,
988
00:57:55,096 --> 00:57:57,724
you don't control the narrative anymore.
989
00:57:57,807 --> 00:58:00,894
So, when 1MDB started to fall apart,
basically, the shit hit the fan,
990
00:58:00,977 --> 00:58:03,771
Jho Low had sort of
disappeared from the map.
991
00:58:03,855 --> 00:58:06,858
We called a great source
and they said to us,
992
00:58:06,941 --> 00:58:09,402
"You wouldn't believe
where Jho Low is right now.
993
00:58:09,486 --> 00:58:11,529
He's in the Arctic Circle.
994
00:58:11,613 --> 00:58:14,240
He has this giant yacht
called the Equanimity,
995
00:58:14,324 --> 00:58:17,452
and it's an ice-class yacht,
so it can actually break ice.
996
00:58:17,535 --> 00:58:20,121
Like, he's literally the furthest place
he could be on Earth
997
00:58:20,205 --> 00:58:22,081
from the scandal."
998
00:58:22,165 --> 00:58:24,209
That's what finished Najib,
999
00:58:24,292 --> 00:58:30,965
looking at how this money
was spent, aided by Jho Low.
1000
00:58:31,049 --> 00:58:33,968
How could you vote back such a scoundrel?
1001
00:58:37,096 --> 00:58:40,016
In 2018, the lead-up to the election,
1002
00:58:40,099 --> 00:58:43,186
in the words
of a State Department official,
1003
00:58:43,269 --> 00:58:45,396
"Najib's gonna get reelected
1004
00:58:45,480 --> 00:58:47,148
and that's gonna be the end of your case."
1005
00:58:49,067 --> 00:58:52,445
1MDB resonated among the middle class,
1006
00:58:52,529 --> 00:58:56,324
the professional class,
who understood what 1MDB was about,
1007
00:58:56,908 --> 00:58:58,952
about the theft of billions of dollars.
1008
00:59:00,495 --> 00:59:01,996
But he was very confident.
1009
00:59:04,457 --> 00:59:08,169
Never has the ruling government,
Barisan National,
1010
00:59:08,253 --> 00:59:10,213
never have they lost in
the national elections.
1011
00:59:19,305 --> 00:59:22,684
Everybody here is because
they want to look for a change,
1012
00:59:23,184 --> 00:59:25,103
{\an8}a better future for all
their grandchildren.
1013
00:59:27,230 --> 00:59:30,066
We have had enough. Enough is enough.
1014
00:59:30,650 --> 00:59:33,528
It was a tense time.
1015
00:59:33,611 --> 00:59:36,364
I remember talking to some
senior police officials
1016
00:59:36,447 --> 00:59:39,284
who were saying, "You know,
if you go out in the communities
1017
00:59:39,367 --> 00:59:42,328
and you see the rallies
where Mahathir is speaking,
1018
00:59:42,412 --> 00:59:44,872
there's a tremendous amount
of enthusiasm."
1019
00:59:48,042 --> 00:59:51,212
In 2018, it wasn't merely
about changing government.
1020
00:59:51,296 --> 00:59:53,423
{\an8}It was a liberation of mindsets
1021
00:59:53,506 --> 00:59:56,676
{\an8}in which now Malaysians know that
they are ultimately in control.
1022
00:59:57,719 --> 01:00:02,307
{\an8}His predecessor, Mahathir,
started to come out and to say that
1023
01:00:02,390 --> 01:00:04,642
{\an8}Najib was a liar and a criminal.
1024
01:00:05,852 --> 01:00:07,895
He has galvanized a fractured opposition
1025
01:00:07,979 --> 01:00:10,565
to oust what he calls
a government of thieves.
1026
01:00:10,648 --> 01:00:13,526
The opposition under Anwar Ibrahim
and all the others,
1027
01:00:13,610 --> 01:00:16,529
they're able to get to the door,
1028
01:00:16,613 --> 01:00:19,657
but they couldn't open the door to power.
1029
01:00:20,658 --> 01:00:22,869
Mahathir was able to open the door
1030
01:00:22,952 --> 01:00:26,581
because a lot of conservative Malays
1031
01:00:26,664 --> 01:00:29,042
who would never vote for Anwar Ibrahim
1032
01:00:29,125 --> 01:00:33,212
voted for the opposition
because of Mahathir
1033
01:00:33,296 --> 01:00:35,548
because Mahathir was one of them.
1034
01:00:35,632 --> 01:00:39,469
{\an8}Anwar Ibrahim used to be a student radical
in his early days
1035
01:00:39,552 --> 01:00:44,098
{\an8}and eventually became
deputy prime minister under Mahathir,
1036
01:00:44,182 --> 01:00:46,934
{\an8}but he was a political prisoner early on.
1037
01:00:48,853 --> 01:00:52,440
{\an8}Anwar has spent a lot of his life in jail.
1038
01:00:52,523 --> 01:00:54,776
{\an8}He's now 75 years old.
1039
01:00:56,110 --> 01:00:58,071
You mentioned that you'd read
thousands of books
1040
01:00:58,154 --> 01:00:59,864
while you were in prison.
1041
01:00:59,947 --> 01:01:01,949
What is the book that
meant the most to you?
1042
01:01:02,575 --> 01:01:04,410
All the classics was important to me.
1043
01:01:04,994 --> 01:01:08,998
Initially, it was very difficult.
It was one book a week.
1044
01:01:11,084 --> 01:01:14,170
To them, books can be a weapon in prison.
1045
01:01:21,636 --> 01:01:24,472
Why did I form an alliance with Mahathir?
1046
01:01:24,972 --> 01:01:28,851
It was very difficult,
one of the most toughest decisions
1047
01:01:29,852 --> 01:01:31,270
I had to make in my life.
1048
01:01:34,774 --> 01:01:40,905
{\an8}There is sometimes a bigger agenda
in life, a bigger task.
1049
01:01:40,988 --> 01:01:46,577
{\an8}The nation supersedes
your personal desires or anger,
1050
01:01:46,661 --> 01:01:51,165
{\an8}and I think, for now,
it is to save the country
1051
01:01:51,249 --> 01:01:56,546
{\an8}from the corruption and atrocities
under Dato' Sri Najib,
1052
01:01:56,629 --> 01:02:00,258
and we therefore had to form an alliance.
1053
01:02:00,341 --> 01:02:04,262
They were rivals in the past,
but they came together
1054
01:02:04,345 --> 01:02:07,682
for the sole purpose of defeating Najib.
1055
01:02:07,765 --> 01:02:10,017
{\an8}Both of us realized that,
1056
01:02:10,101 --> 01:02:15,106
{\an8}if you quarrel with each other,
the winner will be Najib.
1057
01:02:16,733 --> 01:02:19,360
I remember I had just
gotten back from the US,
1058
01:02:19,444 --> 01:02:22,363
and I was pretty much resigned
to the fact that
1059
01:02:22,447 --> 01:02:23,656
he was gonna win.
1060
01:02:24,490 --> 01:02:27,910
Just before I went to sleep,
I looked at the ongoing results
1061
01:02:27,994 --> 01:02:31,164
and, you know, Mahathir was ahead,
but it was still early.
1062
01:02:31,247 --> 01:02:36,002
At about 2:00 a.m.,
Woo Lee called, saying,
1063
01:02:36,085 --> 01:02:38,379
"Is what I think happening, happening?"
1064
01:02:38,463 --> 01:02:39,881
And I was wide awake then,
1065
01:02:39,964 --> 01:02:42,508
and I remember going into my living room
1066
01:02:42,592 --> 01:02:43,843
and turning the television on,
1067
01:02:43,926 --> 01:02:46,763
and just, you know,
just the state of shock
1068
01:02:46,846 --> 01:02:48,639
that this had actually happened.
1069
01:02:48,723 --> 01:02:50,767
Then, we won the election of 2018.
1070
01:02:53,770 --> 01:02:55,813
Celebrations across Malaysia
1071
01:02:55,897 --> 01:02:58,733
after a shock result
in the national elections.
1072
01:02:58,816 --> 01:03:01,402
{\an8}Mahathir Mohammed has won
a stunning victory
1073
01:03:01,486 --> 01:03:04,864
{\an8}in Malaysia's election,
ending the six-decade rule
1074
01:03:04,947 --> 01:03:07,158
{\an8}of Prime Minister Najib Razak's coalition.
1075
01:03:12,038 --> 01:03:15,750
The people rose up,
challenged this kleptocratic state,
1076
01:03:15,833 --> 01:03:18,461
no longer just silencing themselves.
1077
01:03:18,544 --> 01:03:23,716
- Reformasi!
- Reformasi!
1078
01:03:23,800 --> 01:03:27,303
They shout the name of the movement
launched 20 years ago,
1079
01:03:27,386 --> 01:03:30,431
when their leader,
Anwar Ibrahim, was jailed,
1080
01:03:30,515 --> 01:03:32,558
ironically on orders of the man
1081
01:03:32,642 --> 01:03:34,769
who has led them to victory today.
1082
01:03:34,852 --> 01:03:36,687
Enough of intimidation!
1083
01:03:37,647 --> 01:03:38,815
No more!
1084
01:03:38,898 --> 01:03:42,985
We have entered a new era for Malaysia!
1085
01:03:50,660 --> 01:03:51,619
Take a look at this.
1086
01:03:51,702 --> 01:03:52,662
This is footage we got in
1087
01:03:52,745 --> 01:03:55,289
just in the last few minutes
from Malaysia.
1088
01:03:55,373 --> 01:03:57,708
Former Prime Minister
Dato' Sri Najib Razak
1089
01:03:57,792 --> 01:04:00,169
has been arrested over the 1MDB scandal.
1090
01:04:00,253 --> 01:04:03,256
Malaysians watched in fascination
as police conducted raids
1091
01:04:03,339 --> 01:04:05,341
on properties linked to Najib Razak.
1092
01:04:05,424 --> 01:04:10,179
There were 284 boxes containing handbags
1093
01:04:10,263 --> 01:04:16,185
and there were 72 bags
containing cash, jewelry, and watches.
1094
01:04:16,269 --> 01:04:22,275
So, the total cost of all the items,
the retail price,
1095
01:04:22,358 --> 01:04:28,406
will be touching 910
to 1.1 billion ringgit.
1096
01:04:30,324 --> 01:04:34,328
With some breaking input that has
just come in from Kuala Lumpur.
1097
01:04:34,829 --> 01:04:36,747
Malaysia's former leader, Najib Razak,
1098
01:04:36,831 --> 01:04:40,459
has been found guilty
of all seven corruption charges.
1099
01:04:40,543 --> 01:04:42,753
He's always maintained his innocence,
1100
01:04:42,837 --> 01:04:45,590
but the country's high court
didn't buy it.
1101
01:04:47,717 --> 01:04:51,178
Who is most responsible for 1MDB?
1102
01:04:54,432 --> 01:04:56,350
{\an8}Dato' Sri Najib, the then-prime minister,
1103
01:04:56,434 --> 01:04:59,979
must be held fully responsible
and accountable.
1104
01:05:16,913 --> 01:05:18,289
You turned my office into a studio.
1105
01:05:19,373 --> 01:05:21,000
{\an8}- Who's doing the interviewing?
- I am.
1106
01:05:21,083 --> 01:05:22,168
{\an8}You're doing it?
1107
01:05:22,835 --> 01:05:23,836
You have the understanding,
1108
01:05:23,920 --> 01:05:28,382
in case it borders on sub judice
and contempt of court.
1109
01:05:29,467 --> 01:05:30,676
I've got to stop that.
1110
01:05:30,760 --> 01:05:32,470
- Sure.
- Because the trial is on.
1111
01:05:34,597 --> 01:05:37,516
Whose idea was it to create 1MDB?
1112
01:05:37,600 --> 01:05:39,226
It wasn't my idea.
1113
01:05:39,310 --> 01:05:42,605
I had no idea whatsoever to create 1MDB,
1114
01:05:42,688 --> 01:05:46,817
but it was also based on a rationale
1115
01:05:46,901 --> 01:05:51,781
that we wanted to attract
more investment for Malaysia,
1116
01:05:51,864 --> 01:05:53,824
particularly from the Middle East.
1117
01:05:55,993 --> 01:05:57,203
Who was Jho Low?
1118
01:05:58,412 --> 01:06:01,123
Well, I didn't know Jho Low to begin with.
1119
01:06:02,291 --> 01:06:08,339
{\an8}He came via his appointment
by the previous king,
1120
01:06:08,422 --> 01:06:10,549
and he also came with
1121
01:06:10,633 --> 01:06:14,679
the strong connections
with the Middle East,
1122
01:06:14,762 --> 01:06:17,515
particularly with Saudi and UAE.
1123
01:06:17,598 --> 01:06:19,767
Were you aware that Jho Low
and your stepson Riza Aziz
1124
01:06:19,850 --> 01:06:22,770
were funding Hollywood films
with 1MDB money?
1125
01:06:22,853 --> 01:06:25,314
I was not. I was totally unaware.
1126
01:07:08,399 --> 01:07:11,193
In March of 2013, you signed a letter
1127
01:07:11,277 --> 01:07:15,156
asking Goldman Sachs
to raise $3 billion in a bond sale
1128
01:07:15,239 --> 01:07:19,577
with the Malaysian government,
guaranteeing the debt in case of default,
1129
01:07:19,660 --> 01:07:20,494
and, at that point,
1130
01:07:20,578 --> 01:07:23,372
Goldman had raked in
$600 million in profits.
1131
01:07:25,207 --> 01:07:27,668
Did this not raise any red flags for you?
1132
01:07:27,752 --> 01:07:31,797
Well, we wanted the funds for 1MDB,
1133
01:07:31,881 --> 01:07:35,301
and, as you know, you're rather, you know,
1134
01:07:35,384 --> 01:07:37,636
in a way, seduced by the name
of Goldman Sachs.
1135
01:07:38,179 --> 01:07:41,974
I guess I was more interested
in raising the funds
1136
01:07:42,058 --> 01:07:44,393
rather than looking into
the details of it.
1137
01:07:44,477 --> 01:07:46,854
Were you aware of the size
of the fees they were charging?
1138
01:07:46,937 --> 01:07:49,482
I was not exactly aware of the amount. No.
1139
01:07:52,777 --> 01:07:56,614
So, in 2013, $681 million
1140
01:07:56,697 --> 01:07:59,075
was deposited into your personal accounts
1141
01:07:59,158 --> 01:08:01,368
from a bank account
associated with Jho Low.
1142
01:08:04,622 --> 01:08:05,790
How do you explain that?
1143
01:08:06,957 --> 01:08:09,418
To begin with, when I met King Abdullah,
1144
01:08:10,336 --> 01:08:13,005
{\an8}he promised that he would help me,
1145
01:08:13,089 --> 01:08:17,093
{\an8}and he believed that Malaysia
as a government was
1146
01:08:18,344 --> 01:08:23,099
an example of how a Muslim country
should be run.
1147
01:08:23,182 --> 01:08:25,810
Were any favors requested
in exchange for this money?
1148
01:08:25,893 --> 01:08:29,146
Was it a quid pro quo on a personal level
with the Saudi government?
1149
01:08:29,230 --> 01:08:33,359
No, I made it very clear that
there was no quid pro quo,
1150
01:08:33,442 --> 01:08:36,987
and it was given to me
and I could use it as I deemed fit.
1151
01:08:37,071 --> 01:08:39,824
You can see why people have
a hard time believing that.
1152
01:08:39,907 --> 01:08:43,619
Well, that was my understanding
with the late King Abdullah.
1153
01:08:45,579 --> 01:08:46,872
How do you respond to allegations
1154
01:08:46,956 --> 01:08:50,042
that you had to have known about
the 1MDB deals
1155
01:08:50,126 --> 01:08:53,337
because your signature
is on all the documents
1156
01:08:53,420 --> 01:08:55,047
required for the deals and investments?
1157
01:08:55,131 --> 01:09:00,177
You know, maybe I was
too trusting, perhaps,
1158
01:09:00,970 --> 01:09:05,057
but it was required because
the minister of finance
1159
01:09:05,141 --> 01:09:08,144
is the sole shareholder of 1MDB
1160
01:09:08,227 --> 01:09:10,312
and my signature was required,
1161
01:09:11,105 --> 01:09:13,399
but I never, never imagined that
1162
01:09:13,482 --> 01:09:19,363
it was part of a scheme
to defraud 1MDB at all.
1163
01:09:19,446 --> 01:09:22,199
Did you review these documents
before you signed them?
1164
01:09:22,283 --> 01:09:24,702
I didn't know that the management
1165
01:09:24,785 --> 01:09:28,998
was also in cahoots with Jho Low,
and they were also...
1166
01:09:29,081 --> 01:09:34,628
And also members of my office
also in cahoots with Jho Low,
1167
01:09:34,712 --> 01:09:38,132
and they did receive
a substantial amount of money.
1168
01:09:38,215 --> 01:09:41,468
Your assertion is that everyone around you
1169
01:09:41,552 --> 01:09:44,180
was in cahoots with Jho Low
except for yourself?
1170
01:09:44,263 --> 01:09:46,724
Jho Low was very manipulative
1171
01:09:47,433 --> 01:09:50,519
and he made sure that the people around me
1172
01:09:50,603 --> 01:09:56,192
plus the system was on his side
1173
01:09:56,275 --> 01:09:58,652
and he could influence them.
1174
01:09:58,736 --> 01:10:02,281
The names that were
supposed to protect you,
1175
01:10:02,364 --> 01:10:03,741
to protect the government,
1176
01:10:04,241 --> 01:10:07,077
failed in their responsibilities.
1177
01:10:07,161 --> 01:10:09,121
- What about you?
- Including the Central Bank.
1178
01:10:09,205 --> 01:10:11,207
What about you though? Did you fail?
1179
01:10:11,290 --> 01:10:12,416
Yeah. I failed in a sense.
1180
01:10:12,499 --> 01:10:17,630
I trusted the wrong people
and I should have...
1181
01:10:20,674 --> 01:10:25,262
not assumed that things would
happen in the way it did.
1182
01:10:25,930 --> 01:10:28,432
Too many people
who should have alerted me,
1183
01:10:28,515 --> 01:10:29,600
they didn't alert.
1184
01:10:30,643 --> 01:10:33,479
Do you believe you're the victim
of a vast conspiracy?
1185
01:10:34,396 --> 01:10:37,483
Well, a lot of things were
deliberately kept away from me,
1186
01:10:37,566 --> 01:10:38,567
put it this way.
1187
01:10:39,944 --> 01:10:44,782
I mean, I wouldn't be so stupid.
1188
01:10:45,491 --> 01:10:47,743
I mean, I must be really
1189
01:10:47,826 --> 01:10:50,454
the person with
the lowest IQ in the world.
1190
01:10:50,537 --> 01:10:52,706
Do you believe you failed
the people of Malaysia?
1191
01:10:54,917 --> 01:10:59,505
In a sense, I failed,
in I trusted the wrong people, yes,
1192
01:11:00,923 --> 01:11:03,384
but the system failed me as well.
1193
01:11:03,467 --> 01:11:04,843
I think that has to be noted.
1194
01:11:04,927 --> 01:11:09,682
The system that was supposed to support me
1195
01:11:09,765 --> 01:11:12,184
failed me, failed the people of Malaysia.
1196
01:11:12,268 --> 01:11:13,602
In America,
1197
01:11:13,686 --> 01:11:16,063
we have a saying
popularized by Harry Truman.
1198
01:11:17,022 --> 01:11:18,524
"The buck stops here."
1199
01:11:18,607 --> 01:11:22,152
Because ultimate responsibility
lies with the leader.
1200
01:11:22,236 --> 01:11:25,656
Now, you're telling me that
you trusted the wrong people
1201
01:11:25,739 --> 01:11:27,574
and the system let you down,
1202
01:11:27,658 --> 01:11:30,286
but does that absolve you
of responsibility?
1203
01:11:30,369 --> 01:11:32,454
Do you believe that you should not
be held accountable?
1204
01:11:32,538 --> 01:11:34,832
What was I accountable for?
1205
01:11:34,915 --> 01:11:36,166
And that's important.
1206
01:11:36,250 --> 01:11:39,712
You don't just say,
"Oh, the buck stops with him,"
1207
01:11:39,795 --> 01:11:42,923
but, you know, as a prime minister,
1208
01:11:43,007 --> 01:11:46,468
as I said, you are supported
by the entire system,
1209
01:11:47,094 --> 01:11:51,557
and many people are supposed to
advise you, but up to now,
1210
01:11:51,640 --> 01:11:54,476
no action was taken against them, you see.
1211
01:11:54,560 --> 01:11:56,270
So, that is my bone of contention.
1212
01:11:56,353 --> 01:11:58,564
People are equally
1213
01:11:58,647 --> 01:12:03,485
or if not worse in terms
of their culpability,
1214
01:12:04,111 --> 01:12:06,322
why has action not been taken?
1215
01:12:06,405 --> 01:12:09,658
When people receive money
for their personal use,
1216
01:12:09,742 --> 01:12:11,452
no action has been taken.
1217
01:12:11,535 --> 01:12:13,245
I mean, does it mean that,
1218
01:12:13,329 --> 01:12:16,248
just because you take action
against the man at the top,
1219
01:12:16,332 --> 01:12:18,083
everybody else is absolved?
1220
01:12:18,167 --> 01:12:19,918
I'm sure it doesn't mean that.
1221
01:12:20,002 --> 01:12:22,546
I mean, if you commit a wrongdoing,
1222
01:12:22,629 --> 01:12:24,131
then you should be prosecuted,
1223
01:12:24,965 --> 01:12:27,426
but, so far, none have been prosecuted.
1224
01:12:27,509 --> 01:12:30,220
This is what I feel...
1225
01:12:30,304 --> 01:12:36,352
what is wrong with our reaction
to the whole 1MDB saga.
1226
01:12:39,646 --> 01:12:40,939
{\an8}"Have you no shame?"
1227
01:12:42,232 --> 01:12:45,194
{\an8}That is what everyone's asking of Najib.
1228
01:12:45,277 --> 01:12:49,198
{\an8}You know you're lying.
We know you're lying.
1229
01:12:49,281 --> 01:12:53,243
Have you no shame
for what you've done to your country?
1230
01:12:53,327 --> 01:12:55,120
I was finance minister for eight years.
1231
01:12:55,204 --> 01:12:58,165
It's just impossible, ludicrous,
1232
01:12:58,248 --> 01:13:02,294
to assume that there's billions of schemes
1233
01:13:02,378 --> 01:13:05,381
under the government auspices
that you don't know.
1234
01:13:05,464 --> 01:13:08,217
You must be either completely ignorant
1235
01:13:08,300 --> 01:13:10,928
or an idiot or blatantly corrupt.
1236
01:13:11,011 --> 01:13:15,057
I don't believe any sensible person
could believe that.
1237
01:13:16,892 --> 01:13:18,936
This morning, the department filed
1238
01:13:19,019 --> 01:13:22,689
criminal charges in New York
against the Goldman Sachs Group
1239
01:13:22,773 --> 01:13:24,650
and its Malaysian subsidiary,
1240
01:13:24,733 --> 01:13:26,360
charging each with conspiracy
1241
01:13:26,443 --> 01:13:29,113
to violate the anti-bribery provisions
1242
01:13:29,196 --> 01:13:31,281
of the Foreign Corrupt Practices Act,
1243
01:13:31,365 --> 01:13:36,787
{\an8}and requires the bank to pay
a total of over $2.9 billion
1244
01:13:36,870 --> 01:13:39,998
{\an8}in criminal fines, penalties,
and disgorgement.
1245
01:13:41,417 --> 01:13:43,919
The timing of this happening is stunning.
1246
01:13:44,002 --> 01:13:46,380
How quickly after the financial crisis,
1247
01:13:46,463 --> 01:13:49,425
with all the same players in their chairs.
1248
01:13:49,508 --> 01:13:51,176
{\an8}Many people will say
1249
01:13:51,260 --> 01:13:53,470
{\an8}these fines are just a cost
of doing business.
1250
01:13:53,554 --> 01:13:58,225
Fines are a deterrent
to this type of activity, no doubt.
1251
01:13:58,308 --> 01:14:01,562
Without higher-level decision-makers
1252
01:14:01,645 --> 01:14:03,564
eventually going to prison for them,
1253
01:14:03,647 --> 01:14:05,983
it's not the ultimate deterrent.
1254
01:14:06,733 --> 01:14:09,820
{\an8}Do I think that they've
been held to account
1255
01:14:09,903 --> 01:14:11,196
{\an8}as much as they should have?
1256
01:14:11,280 --> 01:14:12,990
{\an8}I personally don't, but, you know,
1257
01:14:13,073 --> 01:14:15,993
{\an8}those decisions were made at
extremely high levels of DOJ.
1258
01:15:02,289 --> 01:15:05,000
Ng is the only Goldman banker
to stand trial.
1259
01:15:05,083 --> 01:15:08,170
He's charged with helping launder
billions of dollars
1260
01:15:08,253 --> 01:15:10,172
embezzled from 1MDB.
1261
01:15:10,255 --> 01:15:13,592
Ng faces as many as 30 years in prison.
1262
01:15:13,675 --> 01:15:16,678
Roger Ng was more like
as a proxy for Jho Low.
1263
01:15:16,762 --> 01:15:19,723
The trial was about Jho Low
and Jho Low's crimes.
1264
01:15:19,806 --> 01:15:22,267
Tim Leissner would've been in
the worst trouble of all,
1265
01:15:22,351 --> 01:15:23,602
but he sang like a canary.
1266
01:15:24,144 --> 01:15:26,063
Roger Ng wasn't really on our radar,
1267
01:15:26,146 --> 01:15:28,482
but he didn't ever come across
as an instrumental person.
1268
01:15:29,066 --> 01:15:31,193
{\an8}We later learned he was
the guy on the ground
1269
01:15:31,276 --> 01:15:32,319
{\an8}dealing with 1MDB,
1270
01:15:32,402 --> 01:15:34,821
whereas Tim was more the high-flying guy
1271
01:15:34,905 --> 01:15:37,574
that was overseeing the strategy.
1272
01:15:40,244 --> 01:15:41,954
In Malaysia right now,
1273
01:15:42,037 --> 01:15:45,457
there are some people
who sympathize with Roger Ng.
1274
01:15:46,875 --> 01:15:51,213
{\an8}Why did DOJ pick a Malaysian to charge?
1275
01:15:51,296 --> 01:15:53,549
{\an8}Why did they do a deal with Leissner?
1276
01:15:53,632 --> 01:15:55,759
What about all the other
Goldman Sachs guys?
1277
01:15:55,842 --> 01:15:58,887
What about the Arabs who stole from 1MDB?
1278
01:15:59,805 --> 01:16:01,515
Tim Leissner talked about
1279
01:16:01,598 --> 01:16:05,561
how helpful Otaiba was to Jho Low,
1280
01:16:05,644 --> 01:16:08,438
because, at the very elite world,
1281
01:16:08,522 --> 01:16:11,525
{\an8}so much of it runs on trust
and who you know.
1282
01:16:11,608 --> 01:16:14,736
{\an8}What Leissner's testimony tells us is that
1283
01:16:14,820 --> 01:16:16,363
{\an8}Otaiba was seen as the person
1284
01:16:16,446 --> 01:16:19,533
getting them approvals within the UAE,
1285
01:16:19,616 --> 01:16:22,661
easing the process
if it were ever slowed down
1286
01:16:22,744 --> 01:16:25,455
to enable Jho Low to have the scheme,
1287
01:16:25,539 --> 01:16:27,124
to have the UAE backing,
1288
01:16:27,207 --> 01:16:29,751
to have the UAE sovereign
wealth fund, IPIC,
1289
01:16:29,835 --> 01:16:31,878
be the guarantor of 1MDB.
1290
01:16:33,213 --> 01:16:34,423
The Wall Street Journal in particular
1291
01:16:34,506 --> 01:16:37,634
was able to show $66 million
1292
01:16:37,718 --> 01:16:40,053
flowed into companies connected to Otaiba
1293
01:16:40,554 --> 01:16:43,098
during the period that
the 1MDB scam was active.
1294
01:16:43,724 --> 01:16:47,352
The UAE is punching
so far above its weight,
1295
01:16:47,436 --> 01:16:49,479
thanks to Otaiba here in Washington,
1296
01:16:49,563 --> 01:16:54,401
that removing him would come
at such a high diplomatic cost
1297
01:16:54,484 --> 01:16:57,404
that there's really no benefit
1298
01:16:57,487 --> 01:17:00,073
that would make it
worth doing it for them,
1299
01:17:00,157 --> 01:17:02,367
and that includes whatever blow-back
1300
01:17:02,451 --> 01:17:05,871
they're gonna get
around the Jho Low scandal.
1301
01:17:09,833 --> 01:17:12,419
Conspiracies, everyone has a job to do.
1302
01:17:12,502 --> 01:17:13,670
A short time ago,
1303
01:17:13,754 --> 01:17:15,672
a federal jury in Brooklyn convicted
1304
01:17:15,756 --> 01:17:19,259
former Goldman Sachs
Managing Director Roger Ng.
1305
01:17:19,343 --> 01:17:22,471
{\an8}It's like an orchestra,
and everyone plays an instrument,
1306
01:17:22,554 --> 01:17:25,891
{\an8}and even that guy at the last minute
that hits the cymbals,
1307
01:17:25,974 --> 01:17:29,436
his cymbal is also part of the conspiracy.
1308
01:17:29,519 --> 01:17:32,981
Today's verdict is a victory
for not only the rule of law
1309
01:17:33,065 --> 01:17:34,733
but also for the people of Malaysia.
1310
01:17:35,442 --> 01:17:37,986
Roger Ng was the guy with the cymbals.
1311
01:17:38,737 --> 01:17:41,114
People often forget that
Najib and Jho Low,
1312
01:17:41,198 --> 01:17:45,535
as the architects who conceived
and designed the scheme,
1313
01:17:45,619 --> 01:17:47,663
could not have achieved all this
1314
01:17:48,163 --> 01:17:51,291
without helpers, people who
assisted them, enablers.
1315
01:17:51,375 --> 01:17:53,543
All of them were compliant.
1316
01:17:55,837 --> 01:17:58,423
In this case, you really see
so many different
1317
01:17:58,507 --> 01:18:00,967
middle-level kind of
bureaucratic organizations
1318
01:18:01,051 --> 01:18:02,427
that made enormous amounts of money
1319
01:18:02,511 --> 01:18:04,388
but didn't really get held accountable.
1320
01:18:06,556 --> 01:18:10,102
The accounting firms that looked
at the books of 1MDB.
1321
01:18:10,185 --> 01:18:12,938
Law firms that didn't really
ask enough questions.
1322
01:18:13,021 --> 01:18:15,857
PR firms just doing
the job they were told.
1323
01:18:17,025 --> 01:18:19,986
All of this is being conducted by
1324
01:18:20,070 --> 01:18:24,199
British, American, European
professional classes,
1325
01:18:24,282 --> 01:18:27,744
the sort of people I went to school with,
the people I meet in parties.
1326
01:18:27,828 --> 01:18:29,162
They turn a blind eye
1327
01:18:29,246 --> 01:18:33,917
and they make themselves rich,
facilitating this corruption,
1328
01:18:34,000 --> 01:18:37,504
and then pretending that
it's got nothing to do with them.
1329
01:18:37,587 --> 01:18:39,339
This is a global problem.
1330
01:18:39,423 --> 01:18:42,342
It's a global system,
but there are other consequences,
1331
01:18:42,426 --> 01:18:46,930
because that dirty money now
is coming into our countries,
1332
01:18:47,013 --> 01:18:49,057
and the people who control it
1333
01:18:49,141 --> 01:18:54,771
are starting to influence our
way of life, our politics,
1334
01:18:54,855 --> 01:18:58,275
and our decision-makers,
our political parties.
1335
01:18:59,568 --> 01:19:02,028
Jho Low was trying to influence
American elections.
1336
01:19:02,112 --> 01:19:04,114
He was getting money
to the Obama campaign.
1337
01:19:04,197 --> 01:19:06,491
Later on, he was trying
to get money to people
1338
01:19:06,575 --> 01:19:08,910
around the Trump campaign
and the Trump administration.
1339
01:19:10,537 --> 01:19:14,750
Frank White had connections
to the Obama family
1340
01:19:14,833 --> 01:19:17,294
and was targeted by Jho Low
1341
01:19:17,377 --> 01:19:22,924
and hired for some very improbable
business deals.
1342
01:19:23,008 --> 01:19:25,469
That leads into Jho Low
then getting an invitation
1343
01:19:25,552 --> 01:19:28,180
to the White House
holiday party that year.
1344
01:19:29,264 --> 01:19:31,641
{\an8}Cut to April 2014.
1345
01:19:31,725 --> 01:19:34,936
{\an8}Obama is on his first official
state visit to Malaysia,
1346
01:19:35,020 --> 01:19:39,191
where he takes a selfie
with Prime Minister Najib Razak.
1347
01:19:40,692 --> 01:19:43,320
{\an8}Elliot Broidy, a former Republican
1348
01:19:43,403 --> 01:19:45,697
{\an8}national committee deputy finance chair,
1349
01:19:45,781 --> 01:19:50,869
was also implicated
in the Jho Low and 1MDB scandal.
1350
01:19:50,952 --> 01:19:54,247
Broidy and his wife
told Jho Low's representatives
1351
01:19:54,331 --> 01:19:56,792
they could make
the Justice Department probe go away.
1352
01:19:58,126 --> 01:20:00,670
His aspirations went from getting rich,
1353
01:20:00,754 --> 01:20:04,049
and then it gradually came
to global influence, global power,
1354
01:20:04,132 --> 01:20:06,343
to play a role between countries,
1355
01:20:06,426 --> 01:20:08,470
and he actually succeeded
at becoming that person.
1356
01:20:10,722 --> 01:20:14,184
In finance, we use the phrase
"extract value"
1357
01:20:14,267 --> 01:20:16,269
as if that's what we do.
1358
01:20:16,353 --> 01:20:17,979
That's parasitic.
1359
01:20:18,063 --> 01:20:19,648
"What value did you contribute"
1360
01:20:19,731 --> 01:20:22,317
is what we should be asking.
1361
01:20:22,400 --> 01:20:25,153
We need to learn that we're
interdependent with each other.
1362
01:20:26,071 --> 01:20:30,450
It is an unjust, oppressive system,
1363
01:20:30,534 --> 01:20:32,244
this unbridled capitalism
1364
01:20:32,327 --> 01:20:35,831
enriching the few
at the expense of the vast majority.
1365
01:20:38,250 --> 01:20:39,459
So I think, "What is the answer?"
1366
01:20:39,543 --> 01:20:41,002
The answer is back to the people.
1367
01:20:43,588 --> 01:20:46,842
In a lot of corruption cases,
in money laundering cases,
1368
01:20:46,925 --> 01:20:48,510
there is this perception sometimes
1369
01:20:48,593 --> 01:20:51,763
{\an8}that these financial crimes
don't have victims,
1370
01:20:51,847 --> 01:20:53,181
and that really is not true.
1371
01:20:53,265 --> 01:20:56,184
Someone still has to pay back these bonds
1372
01:20:56,268 --> 01:20:58,603
and all the interest payments
on these bonds,
1373
01:20:58,687 --> 01:21:00,313
'cause it's not gonna be Jho
1374
01:21:00,397 --> 01:21:02,357
and it's not gonna be
Prime Minister Najib.
1375
01:21:02,440 --> 01:21:04,734
It's the Malaysian government
that's holding the bag.
1376
01:21:05,819 --> 01:21:07,863
They're gonna have to then
turn to their people,
1377
01:21:07,946 --> 01:21:10,073
and the schools that they
were gonna use it for,
1378
01:21:10,156 --> 01:21:12,075
the hospitals, the infrastructure,
1379
01:21:12,158 --> 01:21:14,411
the economic development
that they really wanted to do
1380
01:21:14,494 --> 01:21:15,787
is not gonna happen now.
1381
01:21:17,873 --> 01:21:21,626
I sell skewers, steamboat, and barbeque.
1382
01:21:21,710 --> 01:21:23,253
1MDB?
1383
01:21:23,336 --> 01:21:24,963
I am illiterate, I don't know.
1384
01:21:27,507 --> 01:21:31,428
The opportunity cost
for Malaysia's economic future
1385
01:21:31,511 --> 01:21:34,848
{\an8}is that you can't get to that higher level
1386
01:21:34,931 --> 01:21:38,810
{\an8}in terms of the incomes
that your citizens earn.
1387
01:21:38,894 --> 01:21:39,895
They're stuck there.
1388
01:21:41,479 --> 01:21:45,442
We are trapped,
whether we are to truly transition
1389
01:21:45,525 --> 01:21:47,652
{\an8}from a developing country
to a developed country,
1390
01:21:47,736 --> 01:21:49,112
{\an8}or whether we will regress further.
1391
01:22:16,806 --> 01:22:18,725
We begin with breaking news
out of Malaysia.
1392
01:22:18,808 --> 01:22:21,311
A partnership that emerged to rid Malaysia
1393
01:22:21,394 --> 01:22:23,563
of corruption and economic stagnation
1394
01:22:23,647 --> 01:22:25,732
has collapsed.
1395
01:22:25,815 --> 01:22:28,485
So, people do expect the new government
1396
01:22:28,568 --> 01:22:30,528
to undertake massive change.
1397
01:22:30,612 --> 01:22:32,948
Once you delay, they'll punish you.
1398
01:22:33,031 --> 01:22:35,408
Mahathir Mohamad's sudden resignation
1399
01:22:35,492 --> 01:22:38,036
has thrown the country into uncertainty.
1400
01:22:38,119 --> 01:22:39,996
The PH government fell for one reason.
1401
01:22:40,080 --> 01:22:42,499
The prime minister of the day
just resigned
1402
01:22:42,582 --> 01:22:44,250
without telling anybody.
1403
01:22:44,334 --> 01:22:47,295
{\an8}All the cabinet ministers
went to the office
1404
01:22:47,379 --> 01:22:50,256
{\an8}on the morning of Monday,
the 24th of February,
1405
01:22:50,340 --> 01:22:52,050
{\an8}thinking they were ministers,
1406
01:22:52,133 --> 01:22:54,427
and at five o'clock in the evening
of the same day,
1407
01:22:54,511 --> 01:22:55,845
they were sacked.
1408
01:22:55,929 --> 01:23:00,350
{\an8}Anwar was putting a lot
of pressure on Mahathir
1409
01:23:00,433 --> 01:23:03,728
{\an8}to fulfill his promise to hand over power,
1410
01:23:03,812 --> 01:23:05,772
but which Mahathir refused.
1411
01:23:05,855 --> 01:23:09,526
They came together to remove Najib.
That they did.
1412
01:23:09,609 --> 01:23:11,861
But then coming together
to work as a government,
1413
01:23:11,945 --> 01:23:13,196
that's a different story.
1414
01:23:16,574 --> 01:23:18,535
I had seen it in other countries
around the world.
1415
01:23:19,661 --> 01:23:22,038
The opposition,
once they come into government,
1416
01:23:22,122 --> 01:23:23,665
seems unable to govern.
1417
01:23:23,748 --> 01:23:26,001
They can't get their act together,
1418
01:23:26,084 --> 01:23:29,129
and the next thing you know,
they vote the crooks back in power again.
1419
01:23:34,843 --> 01:23:37,512
The past two years have shown us that,
1420
01:23:37,595 --> 01:23:40,390
Malaysians, our frustrations
1421
01:23:40,473 --> 01:23:46,021
run deeper than
these most recent political battles.
1422
01:23:47,063 --> 01:23:49,524
{\an8}What do you know of Najib?
1423
01:23:50,150 --> 01:23:55,905
{\an8}I don't read or watch the news.
I don't know much about him.
1424
01:23:56,531 --> 01:23:59,200
{\an8}I work at sea and don't have time
for these things.
1425
01:24:05,081 --> 01:24:07,167
The biggest problem I have faced
is the tsunami.
1426
01:24:07,250 --> 01:24:09,127
My boat went down with the waves.
1427
01:24:09,836 --> 01:24:12,547
That's all I know.
1428
01:24:20,180 --> 01:24:22,474
In the last one or two years,
1429
01:24:22,557 --> 01:24:25,727
his popularity has risen incredibly.
1430
01:24:25,810 --> 01:24:28,480
That's an objective fact
and I cannot explain that.
1431
01:24:28,563 --> 01:24:29,522
Let's go!
1432
01:24:29,606 --> 01:24:33,276
Our frustration is rooted in knowing
1433
01:24:33,359 --> 01:24:36,571
that no matter how hard they work,
1434
01:24:36,654 --> 01:24:39,574
the deck is stacked against them.
1435
01:24:39,657 --> 01:24:40,700
The biggest problem is
1436
01:24:40,784 --> 01:24:46,915
{\an8}the political will to handle basic needs
of the society.
1437
01:24:46,998 --> 01:24:49,751
There is budget
because our country is rich!
1438
01:24:49,834 --> 01:24:52,378
We have oil. We have Petronas.
1439
01:24:52,462 --> 01:24:53,338
We have palm oil.
1440
01:24:53,421 --> 01:24:56,633
We are the second biggest exporter
in the world.
1441
01:24:56,716 --> 01:25:00,720
It's a, I would say,
the diversion of funds
1442
01:25:00,804 --> 01:25:03,932
for some party and political.
1443
01:25:04,474 --> 01:25:06,976
They want to stay in power, you know?
1444
01:25:08,019 --> 01:25:12,774
There are those within the society
1445
01:25:12,857 --> 01:25:17,529
{\an8}who are more than happy
to glorify a crook,
1446
01:25:18,655 --> 01:25:22,617
who are willing to betray our future
1447
01:25:22,700 --> 01:25:26,996
in exchange for favors
and political patronage.
1448
01:25:28,373 --> 01:25:29,666
It's rooted in a fear
1449
01:25:29,749 --> 01:25:33,962
that their kids won't be better off
than they were,
1450
01:25:34,045 --> 01:25:39,926
and that is a dangerous
and growing inequality.
1451
01:25:40,593 --> 01:25:46,933
There are many politicians
who only talk, but don't take action.
1452
01:25:47,851 --> 01:25:52,564
Malaysian democracy is
at a critical juncture,
1453
01:25:52,647 --> 01:25:55,441
at a juncture in which
we could potentially regress
1454
01:25:56,359 --> 01:25:59,571
and forever be stuck
in a developing country status,
1455
01:26:00,822 --> 01:26:02,824
or one in which we could turbocharge
1456
01:26:02,907 --> 01:26:05,618
to make Malaysia a developed
and dignified country.
1457
01:26:05,702 --> 01:26:07,745
We have not matured as a democracy.
1458
01:26:08,246 --> 01:26:12,542
Poor governance and therefore
fragile institutions
1459
01:26:12,625 --> 01:26:16,588
has led to massive endemic corruption.
1460
01:26:18,006 --> 01:26:23,052
Our country needs to invest more
in development.
1461
01:26:23,678 --> 01:26:28,099
Talk less, act more.
1462
01:26:45,408 --> 01:26:47,535
Do you hope to be prime minister again?
1463
01:26:47,619 --> 01:26:50,121
My intention now is to clear my name,
1464
01:26:50,205 --> 01:26:53,416
and we hope that the system
will give us a fair hearing.
1465
01:26:54,584 --> 01:26:56,502
Do you think you'll be successful
in clearing your name?
1466
01:26:56,586 --> 01:26:58,796
Who knows about the future? Who knows?
1467
01:27:02,050 --> 01:27:05,345
It's just not Najib. It's systemic.
1468
01:27:06,054 --> 01:27:12,393
Najib is, of course, the icon
of that corrupt establishment,
1469
01:27:12,477 --> 01:27:16,481
but the system has been
totally compromised.
1470
01:27:17,815 --> 01:27:19,734
We are not fighting against one man.
1471
01:27:20,985 --> 01:27:26,407
We are actually challenging
an entrenched corrupt system.
1472
01:27:26,491 --> 01:27:28,451
I don't have a choice.
1473
01:27:29,118 --> 01:27:30,828
In the years that I still have,
1474
01:27:30,912 --> 01:27:34,123
I will continue to endeavor
for change and reform,
1475
01:27:34,207 --> 01:27:37,835
and I think this country and Malaysians
1476
01:27:37,919 --> 01:27:40,255
deserve something better.
1477
01:27:49,973 --> 01:27:51,182
Was it worth it?
1478
01:27:53,726 --> 01:27:55,770
I would still do whatever we did again.
1479
01:27:58,648 --> 01:28:01,150
I still have some hope that
1480
01:28:01,651 --> 01:28:03,945
justice is gonna be served in this.
1481
01:28:11,911 --> 01:28:14,414
We used to see these apartment buildings
go up and wonder,
1482
01:28:14,497 --> 01:28:16,291
who's actually gonna afford
1483
01:28:16,374 --> 01:28:18,459
to live in those luxury apartments
everywhere?
1484
01:28:22,672 --> 01:28:27,343
And then you come down here.
This is the real Malaysia.
1485
01:28:30,805 --> 01:28:32,682
Are these people's lives better today?
1486
01:28:34,267 --> 01:28:36,227
Are they making a better life
1487
01:28:36,311 --> 01:28:38,438
for themselves and their children?
1488
01:28:53,870 --> 01:28:58,082
I hope in the future,
my children will be successful.
1489
01:28:58,166 --> 01:29:00,918
Earn a good salary.
1490
01:29:01,002 --> 01:29:03,588
Be able to afford a home.
1491
01:29:03,671 --> 01:29:06,341
Right now,
housing costs are too expensive.
1492
01:29:32,408 --> 01:29:35,411
- Where do you think Jho Low is?
- I have no idea.
1493
01:29:37,080 --> 01:29:39,999
In fact, the police should be able
to answer that question.
1494
01:29:40,083 --> 01:29:42,126
- Okay, okay.
- Please wear a mask.
1495
01:29:43,669 --> 01:29:46,255
Why have the Malaysian police
been unable to locate Jho Low?
1496
01:29:46,339 --> 01:29:47,590
You'll have to ask them.
1497
01:29:47,673 --> 01:29:49,967
Okay. All right.
1498
01:29:51,302 --> 01:29:52,637
Please wear a mask.
1499
01:30:00,686 --> 01:30:02,772
Jho Low? I heard about him
1500
01:30:03,773 --> 01:30:06,275
usually on the news.
1501
01:30:06,359 --> 01:30:08,402
It's an old story already.
1502
01:30:08,486 --> 01:30:09,779
Nothing's changed.
1503
01:30:13,991 --> 01:30:16,035
Under our criminal law system,
1504
01:30:16,119 --> 01:30:19,789
the accused must
be in the dock physically,
1505
01:30:19,872 --> 01:30:23,000
which is why Jho Low's prosecution
never took off.
1506
01:30:23,084 --> 01:30:24,669
He's not physically in Malaysia.
1507
01:30:28,714 --> 01:30:31,843
If he's still alive,
I believe he's in China.
1508
01:30:33,427 --> 01:30:37,181
My best guess is Jho is
between this triangle of cities.
1509
01:30:37,265 --> 01:30:40,434
Macau. Hong Kong. Shenzhen.
1510
01:30:41,519 --> 01:30:42,812
He's been laying low for a long time.
1511
01:30:44,897 --> 01:30:47,567
The Chinese made a calculation that
1512
01:30:47,650 --> 01:30:49,902
it was in their interest to allow Jho Low
1513
01:30:49,986 --> 01:30:53,865
to remain there in China
when the scandal broke.
1514
01:30:54,574 --> 01:30:58,035
Jho obviously has
some level of value to them.
1515
01:30:59,078 --> 01:31:01,956
I do think, though, that
that value is perishable.
1516
01:31:10,590 --> 01:31:14,010
He is responsible for killing
Malaysian democracy
1517
01:31:14,093 --> 01:31:16,429
and hurting the lives of
millions of Malaysians,
1518
01:31:16,512 --> 01:31:18,055
and we need to do whatever we can
1519
01:31:18,139 --> 01:31:20,975
to ensure that he's brought back
to face justice.
1520
01:31:30,151 --> 01:31:35,489
There is times in your life
that you have choices to make...
1521
01:31:39,535 --> 01:31:41,329
that are important choices.
1522
01:31:49,754 --> 01:31:51,255
If you love your country,
1523
01:31:55,134 --> 01:31:56,260
you have to act.
1524
01:32:15,613 --> 01:32:17,406
Jho Low is still out there.
1525
01:32:18,574 --> 01:32:22,036
I don't know if we'll ever have
a full closure in this case.
1526
01:32:22,536 --> 01:32:26,082
I hope so someday,
but I don't know if we'll ever get there.
1527
01:32:27,458 --> 01:32:31,295
I think corruption is so damaging
to our world.
1528
01:32:31,379 --> 01:32:33,589
I'm proud that I had the opportunity
in my career
1529
01:32:33,673 --> 01:32:36,467
to fight it in some way,
and some successful and some not,
1530
01:32:36,550 --> 01:32:39,762
but you never get
the full satisfaction of that
1531
01:32:39,845 --> 01:32:41,430
and that's the frustrating part.
1532
01:32:43,140 --> 01:32:45,643
You never get that full closure.
1533
01:32:45,726 --> 01:32:48,604
You never feel like, you know,
you've done enough.
1534
01:32:52,316 --> 01:32:53,359
I love this country.
1535
01:32:55,194 --> 01:33:00,074
Somewhere deep down,
I still have to retain hope that
1536
01:33:00,157 --> 01:33:01,450
things are gonna work out.
1537
01:33:02,660 --> 01:33:05,955
I just hope people here too
don't give up hope.