1. 1MDB has to make payment to IPIC for being a guarantor. 1MDB has also to make payment to IPIC as compensation for termination of an option granted in favour of IPIC.
2. Therefore payments were made. USD 3.5 billion. Between 2012 and 2013.
3. The said USD 3.5 billion was paid to a company called Aabar BVI.
4. However there is a big problem. IPIC denied to have any link whatsoever with Aabar BVI. Meaning, IPIC said they have yet to receive the money from 1MDB.
5. Where has USD 3.5 billion gone?
6. Aabar BVI was said to have been closed in the middle of 2015. All monies were gone.
7. Many parts of the world have started investigations on corruption and money-laundering. Presumably the monies must have been moved from bank to bank, as the amount is too big to be physically moved around.
8. Arul Kanda of 1MDB did not discount the possibility of fraud.
9. Prime Minister of Malaysia said it is too early to conclude fraud.
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