What is 1MDB?

1Malaysia Development Berhad (1MDB) was a state-owned investment fund established in 2009 under Najib Razak's administration to promote economic development in Malaysia through strategic investments.
The Scam:

Over $4.5 billion was allegedly misappropriated from 1MDB. The funds were diverted through a complex web of transactions involving offshore companies, banks, and intermediaries.
The stolen money was used to purchase luxury real estate, artwork, jewelry, yachts, and even finance the production of the Hollywood movie The Wolf of Wall Street.