All language subtitles for Man.On.The.Run.2023.1080p.WEBRip.x264.AAC5.1-[YTS.MX]
Afrikaans
Albanian
Amharic
Arabic
Armenian
Azerbaijani
Basque
Belarusian
Bengali
Bosnian
Bulgarian
Catalan
Cebuano
Chichewa
Chinese (Simplified)
Corsican
Croatian
Czech
Danish
Esperanto
Estonian
Filipino
Finnish
Frisian
Galician
Georgian
German
Greek
Gujarati
Haitian Creole
Hausa
Hawaiian
Hebrew
Hindi
Hmong
Hungarian
Icelandic
Igbo
Indonesian
Irish
Italian
Japanese
Javanese
Kannada
Kazakh
Khmer
Korean
Kurdish (Kurmanji)
Kyrgyz
Lao
Latin
Latvian
Lithuanian
Luxembourgish
Macedonian
Malagasy
Malay
Malayalam
Maltese
Maori
Marathi
Mongolian
Myanmar (Burmese)
Nepali
Norwegian
Pashto
Persian
Punjabi
Romanian
Russian
Samoan
Scots Gaelic
Serbian
Sesotho
Shona
Sindhi
Sinhala
Slovak
Slovenian
Somali
Spanish
Sundanese
Swahili
Swedish
Tajik
Tamil
Telugu
Thai
Turkish
Ukrainian
Urdu
Uzbek
Vietnamese
Welsh
Xhosa
Yiddish
Yoruba
Zulu
Odia (Oriya)
Kinyarwanda
Turkmen
Tatar
Uyghur
Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated:
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.
120234