How Malaysia’s Banking Scandal Led To the Death of an Auditor | The Big Steal
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- เผยแพร่เมื่อ 4 ต.ค. 2021
- The Bank Bumiputra scandal was one of Malaysia’s biggest financial scandals before 1MDB. The bank lost $1billion in public funds to an elaborate scheme of corruption, false accounting and sham profits. The main mastermind behind this web of deceit was a civil engineer by the name of George Tan, who had fled Singapore after his first bankruptcy in 1972, and ended up in Hong Kong. He founded the Carrain Group which eventually collapsed with some 1.2 Billion USD of debt.
In this episode of 'The Big Steal' we see how Bank Bumiputra lost millions in a financial scandal.
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Correction, Jho Low is not a Chinese businessman. He's a Malaysian businessman of Chinese ethnicity.
Exactly, that was weak reporting.
@@yangtakpopular7252 very different. When you live in a different country, follow the laws and norms of that country, you're a very different person from those in your ancestor's homeland.
His parents are listed in the Pandora reports
Doesn't make it any better
@@yangtakpopular7252 he is Malaysian.. that is the difference. 12 years of school in Public school and you still weak in reading?
I remembered this case when was an 18 yr bank clerk , I said to meself this is the beginning and not the ending and I was never too wrong predicting it, everyone is blinded by money ESPECIALLY POLITICIANS ! HOW THEY SCREWED UP A COUNTRY IS BEYOND MY IMAGINATION .
Well, didn't one of the ministers said its not wrong to steal as long as you are not caught !
The worst thing is they use skin and religion to divide the ppl and continue controlling the majority malays to go on holding power
Very true
politics is dirty..if UMNO not doing it..other parties will do it..
Norway has oil. Malaysia has more oil. In 30 yrs Norway has accumulated a Sovereign Wealth Fund of $1 Trillion (RM5 Trillion) for its people from oil. So every Norwegian man, woman, child and new born baby has RM1 million Pension Fund saved by Norway Government.
Malaysians DON'T have even ONE RINGGIT Pension Fund from their oil. Malaysian have to contribute their own money for their Pension Fund. Malaysians have RM1.4 Trillion NATIONAL DEBT on their heads. 😁
But here is the human dilemma... Norway sells oil and gas to other countries to contribute to global warming, but use the profit to insure their own future generations and make Norway more resilient. I am not sure that's the ethical thing to do either, making the life of a small population better in the expense of billions of other people.
Sarawak is setting up their own sovereign wealth fund, learning it from Norway. The ministers just visited Norway government recently.
@@dadt8009 Doesn't matter. Loving parents are always selfish. Welfare for their children always comes first. Unlike Wicked stepparent make you work until your very last breath 😁 and makes you your descendant to continue on and on and on and on and on.....until you are reincarnated reborn to continue on and on and on and on....
Yeah, a nice place rich with resources and free from most of the natural disasters is wasted by some shit-heads
@@FT14714 Thanks for telling me who are responsible for current and future suffering in this world.
At this rate of corruption in the country even for now, I will be surprised if Malaysia is still left standing as a country in next 50 years
If you study the history of the region, the biggest corruption money is parked in the offshore financial system in Singapore, which has been brought to light with the recent Pandora scandal. It seems Singapore's financial system would be the first to be regulated led by the regulators of the global financial system. Singapore is currently the largest hoarder of corrupt money in South East Asia.
@@caseystevens8302 actually, with the exposure by Pandora Papers, Malaysian and the politicians are the biggest hoarders of corruption and-laundered money in Asia. Opposition Leader Anwar Ibrahim repeatedly tried to get this topic debated in parliament but failed. Sigh….
@@caseystevens8302 probably something to do with Singapore having the strongest currency in SEA
Petronas hydrocarbons money
100% true .. Singapore just keep quiet about dirty money n so many scandal for they benefits .. they are truly corruption state ..🤪
Unfortunately the convicted Najib is still walking around the world freely despite a 12-year jail term, when a person stealing a pack of Milo is serving his 3-month sentence in jail. That tells how corrupted the country is. And the Malay people is letting this happen.
if it weren't for their ignorant and fraudulent ways, i wont have reasons to detest the 'malays'
this is malaysia, doomed...
All the wealth of the nation is always said for the benefits of the malayu.
But the biggest pie of the cake is always reserved for the elite melayu n it's proxy's.
Only a small percentage is shared by the majority of the melayu.
Cos, only the elite melayu has the money, the cable to banks n is always approved by the elite melayu in power. How easy n simple life has been all the 60 years in plus n still going on
@@johanabdullah682 wrong sia...
The wealth of Malaysia should be for the benefit of Malaysians, not only Melayu ok.
And we all know, who’s the one who pays the most taxes to Malaysia government.
It’s because of ppl like you, with a backward mentality, that’s why malaysia is getting poorer and poorer, because the government can use ppl like you to fill up their own pocket, while everyone else suffer.
Absolutely spot on! This is hypocrasy at thr highest peak of travesty! Money is really king and the saddest part is, Najib is right.
2021 the Malay still got cheated out by UMNO leaders
@@masterchief12331 they just wanna save their previliges
@@masterchief12331 , probably they don't give a damn and is very forgiving.
good..keep talking like this..
The safest way to say, the Malay has been stealing and cheating a lot
Same script, different actors,with some plot twist here and there 😂
Malaysia's Mahathir is the smartest person on earth. Logic tells you that all these cases can't be "coincidental" and can't be pulled off without his approval. He masterminded all these scandals and even fooled the whole country to became a Prime Minister a second time by "pretending" to support the opposition and eventually get rid of Anwar Ibrahim the opposition leader after using him twice. Brilliant. 😂😂
The old 🦊 TM the màstermind
The smart Oldman is still standing and unscathed...
@@jaswantsingh9287 But he loses support and in the edge , with small 6 person party without support from both political divide.
And some moron still believe in him and elected him as PM again
@@justiceseeker3213 from what he comment, its all he mahathir want is not give the leadership of government to Anwar.
It's long past due that Malaysia honoured the late Jalil Ibrahim, the Malaysian auditor who was murdered in Hong Kong when he tried to expose the huge corruption scandal involving BMF.
Malaysia celebrating a "Jalil Ibrahim's Day" every year, would be appropriate not only as sign of honour to the late Malaysian hero, but also to serve as a reminder and a deterrance to especially the crooks in government, to not ever indulge in corruption.
bila masa malaysia peduli psal sejarah? much of our problems come from the ineptitude, gaslighting, straight up lies and cover up of many historical events. we never hear of the racial riots back in the 60s, i only knew of it bcoz some of my teachers candidly talked abt those events or from some historical groups in fb. the formation and politicization of the kadazan identity, origins of hang tuah, and erasure of yap ah loy the pioneer who brought migrants from china that literally laid the foundations for kuala lumpur from the mining industry.. there is no transparency and honesty in malaysia.
just like Munir Said Talib in Indonesia who was killed because he knew too much
Jalil Ibrahim knew too much of corruption of scandal tainted Carrian group n BMF and was murdeted.Altantuya knew too much corruption of another Malay politician and was murdered.George Tan n Lorraine Osman worked hand in hand to cheat $1 billion but J Low and Ananda worked to rob citizens of $13 billion.who started culture of nepotism,corruption n cronyism.the former prime minister who held the longest term in office and caused bailout using govt money of perwaja steel mill,malaysia airlines,tabung haji,felda and forex exchange ventures in UK.Now who is talking of anti corruption and anti cronyism?
Errata not ananda but arul kandasamy of 1M D B president
Who?
The Philippines: "Hold my beer."
You mean hold my microphone.
You mean Corona beer?
Hold my San Miguel.
Obey your dutert3, he is good president tho
Hold my red horse
Surely you can see the connection to mahathir. George Tan, Jho Low, it's the same MO, the difference is George Tan made money for mahathir, Jho Low made Najib looked guilty for stealing money from 1mdb. Both benefited mahathir, one financially, the other politically.
6:30 Corrected: This conversion rate is false. In the 90s, the exchange rate between USD and Ringgit was around rm2.50 to 1 USD. So, it should be $6-12 Billion, not$3.57-7.16 Billion.
Good report and somehow...the malaysian political elites and associated cronies are hell bent on doing the same thing again..and again ...and again.....and again...and again...ultimately making the malaysian citizendry....the one left with paying the bills on these fiascos
great series you got goin
It all started with Dr.M and his 22 years in power and the difficulties we are facing now. What to do is to worry how the future is going to be.
Clever? 😁☑️
Interesting note, the narrator is filming in the Philippines. Another country struggling with corruption scandals
Thats a different story.anywhere u can film.
if he filmed this in Malaysia.. he would definitely be in trouble and never allowed to enter Malaysia again.
theres a hidden hand who want to create chaos within malaysian people. and ohh its close to election btw
hmm... I need to try one of these.
I'll tell you all when it happens.
Until to-date the Bumis still haven't learned their mistakes from the past
Bumis learn a lot when ph win election..
@@kesatria_gelap LOL.
Like the death of Adib?
UMNO and MIC trying to start a race riot but Tommy Thomas getting black sheeped?
Unfortunately the bumis is the king maker in Malaysia. The Falls of BN and PH also the cause by Bumis. PN too will falls when the bumis get tired of it.
@@frontier7320 actually you are not correct. The Malay politicians are able to topple non-Bumi political opponents by playing the race card. In other words, Bumis are not the kingmakers but merely pawns used by Malay politicians for self-interest. Of course they would like you believe you are the Kingmakers and they will serve Bumis’ interest. Take a look and see if they really serve for the benefit of the Bumiputras?
@@CalvinK300 dear bro the bumis are the king makers. Be it in opposition or ruling side it's same. Their vote decide who rules or who falls. Chinese party play race card it's ok for you it's good and valid right. As for malay, what's wrong is wrong what's right is right. We don't cover up our own people. That's why malay divided while you people united, aiya projek terowong sudah setel maaa saksi Utama Mati mengejut, for you it's good, can cover up right. That's the difference between you and us.
I love listening to these documentaries as an Indian-Malaysian. Love from Mumbai, India and Selangor, Malaysia ❤🇲🇾🇮🇳
While us Malaysians do get the perspective and are able to differentiate it, for your viewers and non Malaysians generally, it's almost impossible and usually ends up misleading - when you referred to Jho Low as Chinese.
He is not, well he is but also he is not.
Us Malaysians know what you meant.
Americans might think he's Chinaman or as Michelle Yeoh's Eleanor Young said in Crazy Rich Asians, she is not our kind - despite both being ethnically Chinese.
The term Nanyang refers to those living in SE Asia and they're same but different.
Again, while having envy at Jho Low, I am here standing and being unbiased and fair to please, next time, refer to him as Malaysian (if you insist, Chinese Malaysian - or as we here say despite grammatically incorrect - Malaysian Chinese) because labelling him Chinese opens doors to confusions.
Don't ever say Chinaman. It is highly derogatory. And what are you? Disgusting
This reporter is deliberately creating confusion. No one would make this kind of stupid "mistakes". It's like calling Black Americans "African" or Mexican Americans "Mexican" lol.
@@nihleigleca6702 well said, exactly my point 👍
Vice channel, like all the rest of the Western Mainstream Media, will find all kinds of ways to smear China, in every opportunity. So, I'm not surprised.
The term Malaysian Chinese is grammatically incorrect? It sounds more logical because ethnicity should come after nationality
funny all the shots of buildings in the background are in the philippines not malaysia..1:19
Why did Mahatlir withheld the release of the information to the public ?
Thank you George Tan and Jho Low. For every great man there is a great woman. For every corruption there must be great master minds too.
Now u we know that our politicians wife are the greedy n the stupid husband just allowed them to do freely.
@@johanabdullah682
Including the mother of Jho.
@@Heshem_Joel NO thanks to the Malays who enabled all these under the pretext of Ketuanan Melayu. Every money or advantages gained under the pretext of Ketuanan Melayu is haram
@@klpang7153
No thanks too, for the Ketuanan Yap Ah Loy and the British legacy (which are haram and continuous mass thievery of native land), Jho Low and his Goldman Sachs, Singapore connections and his loving Mother.
All the Malays here are enabler. They hold all the power. And they sold their souls to whoever that pay the right price. And while doing that, continue to claim to work and protect their race and religion.
I can see some parallel with India's Harshad Mehta Scam in 1992.
the rot started in 1981 under Tun M..Malaysia's own Marcos..only difference is Philippines kicked Marcos out and Malaysian's re elected him in 2018 to save the country from his blue eyed boy Najib. Just like re appointing the fox guarding the chicken coup..😂😂
Correct.The sly fox 🦊 TM looking after the chicken 🐔🐓 coop
The murder of the late Jalil Ibrahim.
Malaysia Boleh! Break another World's record again and again...
Bismillahirrohmaanirrohiim GOOD Review. It teaches us to know History. Thank you. Wslm.
that is a huge-ass scale of corruption :s depressing af
Just simply scary
all of these speculation in the comments can be heard 50years ago and yet Malaysia is still standing good but not great. Be the change that you wanted to see, not complaining about it throughout your whole generation.
Well done, Vice Asia.
Simple question..who is in charge of the Malaysian government at that time?Jalil Ibrahim seems to be the victim of "KLEPTOCRACY"
Grandpa
I don't know why, but this situation reminds me a little of Enron, the energy company.
Pandora papers. Indonesian busineessman included.
Vice Please do the notorious case of the late Lorraine Esme Osman.
Corruption that has gone unchallenged and unchecked for 60 years. Our folks in kampung just love corrupted leaders so much we're looking at them coming back in the next general election. Malaysia Boleh. Apa Malu Bosku
in 2010, Premiered on 5th October 2016
Wtf only 4Ep, add more please
Najib was rewarded MYR 100 mil for his excellent services to the Nation. Rewarding a conman is now a tradition.
for real?! i thought he was one of the main players of 1MDB scandal??
@@tko7168 lol, you don’t know how malaysia works
In 2020/2021, there was a leak that the governing party was planning to approve Najib’s application for various retirement benefit as an ex-prime minister of Malaysia
In Malaysia, whoever that is in power, has always been rewarded tremendously by one way, or another (corruption), and as long as they do not doom the country, the ppl of Malaysia will turn a blind eye.
But clearly, this is not the case now.
All ex-prime ministers of Malaysia, they have always received hundreds of millions in retirement benefit given out by the government of malaysia, it’s a mixture of land/building/houses/cash/monthly retirement benefit payout...etc...
Najib applied for the retirement benefits too after he was charged in court for corruption, as of now, he is the only ex prime minister that has been officially charged for corruption
The governing party had almost completed the process of approving his retirement benefit, until, an insider who knows about it leaked it to the media.
As a response, the governing party denied its intention to approve Najib’s application for retirement benefit, and Najib claimed that he has withdraw his application
But, everybody knows that in one way or another, najib has been paid that money by the governing party of Malaysia, Malaysia’s government hold various assets/properties/investments worldwide, probably some of these properties/investments have been given to Najib.
This is just how things work in Malaysia
he never rewarded because Mahathir hate seen him with that money.
@@bzzvlog5879 nah, you got it wrong, Najis 💩got rewarded RM 100000 billion because kaum Melayu like you sell your daughters and wives to collect money and give it to Najis 💩
HELLO MALAYSIAN I WAS TOLD "BUMIPUTRA MEAN I OWE THE LAND AND DON'T NEED TO WORK JUST ENJOY LIFE IS IT CORRECT" ????
We call it "Malaysia Boleh"
Wow malay gangsters, jangan main main
Im thinking this could get up to 1Million views
Ok who asked?
Dik, ada lg yg adik kena edit . Milliom...
MILLION... huhuhuhuhuhuu .
@@dhanyzaffry4829 hahahah baru prasannn. Ok baikk dah editt
@@evs251 your mom asked
@@evs251 apsal koyak?
You may ask Mahathir due to this. Mahathir knows everything. Malaysian knows what Mahathir did.
There were 7other banks involved n affected...the money was still hidden in Hong Kong under some companies controlled by prominent businessman?
Human "GREED" ! So sad ! 😭 Firstly is not through moral means, secondly you can't bring it along with you when you leave this world. Lastly, the bad karma follows you like a shadow !
this happens EVERYWHERE in the world....
Now imagine 128 Billion Dollars! 👀 Berat Albayrak we are looking at you!! Where are you?! Make a video about Turkish scandall too!
Why are you showing backround at Roxas Boulivard??
That's not Kuala Lumpur!!
its Covid dude...you cant travel around like it used to be.
@@mimikolomamu google image is a thing you know
@@averagegameenjoyer4156 It wouldn't look nice like it's vice they want their vids look gud af
@@averagegameenjoyer4156 Then wouldn't that just be a Slide show, it wouldn't look good.
That's a piece cake compare to corruption in Laos
The man behind it live a long life at 95yo now in 2021
How a pm can have so much power is beyond comprehension. There are auditors n people he too as prime minister has to answer to. Prime minister work for the people, the public. That is why we have auditors to keep the people informed so that the persons in charge cannot abuse their power.
The answer is the PM was the de factor dictator with absolute power. Auditors are useless if there is no strong governance in place for checks and balance and Dr M quickly dismantled any such systems to remove any potential barrier to challenge him and at the same time build up strong support through enriching cronies with bribes. This is how he managed to stay in power for so long and build up massive personal wealth for him, his family and all his cronies that are loyal to him.
Proves that some people have been corrupt since decades.
And over time of 5 decades, corruption is becoming a habit and part of the DNA and genes passed on to offsprings from 1980s Carrian group - Bank Bumiputra Finance to 2010s 1MDB - US Goldman Sachs as bookends with so many other corruption cases alongside. Political-financial-religious corruption proliferate, interrelate and multiply to snowball.
vice asia
Too much number basically as Malaysian we just waiting to go bankrupt...
Damn my country is fucked plus there's not gonna be water in Selangor for days wtf water is a basic human need its been going on for years now. They should invest the money in actually helping the people that live here instead of doing all these scams and money-wasting but i know damn well they're not gonna do that.
No water cause of Palm Oil
Air takda sebab maintenance gila.
Yes water is a human right but its not likr the government doesn’t let you to drink water they have to do construction or smth
Still Corrupting 2021, 2022….
imagine being malaysian
i no need to imagine 😞
Best
Why does China and India always fighting in their border?
*Because there is no Malay there* 😆
If there is a Malay there it will be like Malaysia, Chinese and Indian can sit down on one table drinking tea/coffee conversing/joking, can marry happily reaching grandchildren (millions of them "only in Malaysia")
There is a new hk movie about this movie by andy Lau and Tony leung
A lot of mistakes.
The colonial rule over Malaysia/Malaya was definitely more than a decade. Lol.
Jho Low is not Chinese but of Chinese descent/ethnicity.
The Bumiputeras are not just the Malays these are two different things.
Was there local (Malaysian) participation in the reporting? Good story nonetheless
Also Malayan Banking n Tun Razak had to nationalise the Bank.
MBF finance?
CIMB Bank Malaysia is using the travel restrictions as an excuse and they are NOT sending my money to Turkey
3 years in prison? My highschool was longer than that xD
Indonesia: hold my rendang
They are soo twisted!
Terrible. How evil men can be evil and greedy. Politicians of high levels. Can do
same now in phil, duterte , yang and uy!
Malaysia boleh
sad situation he used this man to kings and Queens of Malaysia same like in united kingdom and United States and all over the world.
Moral of the story, after you rob, you scam..... end up you retired damn rich life comfortably
It is ppl like us who work hard and pay taxes that bail out these cronies
Their take the money is valid and halal......... Action is louder than what their speaking.....
Is that Atom Araullo?
Innocent life is lost.
One life for one life. If the justice is not in power to prosecute this people, God will.
You are going to hell.
Vice Asia is trying to be credible but their research is sorely lacking. It has ended up being a poor version of a media organization. Although its true that these were the only two large scale corruption cases in Malaysia.
How so? Tell us more about the truth
Yes please share here. We want more credible information.
I think he is refering to the Carrian Group scandal. The whole legacy of this case involved a high level of corruption in Hong Kong, mainly. Many aren't aware that the corruption was as much spearheaded in Hong Kong as it was a Malaysian issue. One can just study the Carrian Group history to understand this. Bank Bumiputra was only the proxy, not the principle of the matter.
@@caseystevens8302 ah. I think this video mostly just highlights how Malaysia has a history of "investing" money in failures. Not so much that bank bumi had a hand in the failure.. though I guess they're decision to pour so much money on a shady entity is debatable
@@TheMasterofComment that’s true. The amount of “investing in failures” lead to many failed projected and disappeared money.
It's is the Malaysian citizen, who elects a few other Malaysian citizens to become their political leaders, and these simpleton decided to become corrupted seeing the wealth the country has.
You have BOSSKU , why worry
Yes.jho low born in Malaysian is father born in Malaysia to..same like Chinese born in U.S..they ethics chinese,but American
A documentary about Malaysia but a dude walking around in the Philippines..?
He's not a Chinese businessman, he's Malaysian!
The murderer wasn’t found?
Goldman Sach is not guilty but Jho Low is guilty.
Go figure this malaysian logic.
Jho Low is a Malaysian businessman, not Chinese businessman.
But he still Chinese by ethnicity
@@aididfaruqi5692 well, if you are so race based, then he is Chinese Malaysian, not Chinese.
@@boonseow8338 Chinese Canadian, Chinese Australian, Chinese American, Chinese Malaysian, Chinese Singaporean, Chinese Indonesian, Chinese Filipino all around the world but they still Chinese by blood
What's up Atom Araullo!
huy gulat ako ky atom hahahahha
Go Atom!
gulat ako si atom e!!
Jho Low is one of N.jib fixer and errand boy, he is not a 'Chinese Businessman'. 😁
>documentary about malaysia
>filmed by the Philippine International Convention Center area
What happened to murderer of Ibrahim?
the accused murderer (a Malaysian businessman) is under life imprisonment, however, based on his words, there was another Korean guy who was accused by him (although proven not suspicious). However, the true masterminds are still active in politics
Ever wondered who's behind Jho Low? 😏🤭🤭🤭
same shit, different day!
I like how he pronounces Bumiputera hahah and other Malays words...uniquely sound XD sounded like sthg exotic somehow
Malaysia Boleh!!
If tis was mahathir, sooner later pple will step up to testify. Tats human being.
Thus far nobody step up. Only believe in evidence not based on hear say rumours
UMNO is pronounce as ‘ARM-NO’.
Najib without scandal coruption are good..he makes a lot infrastructer
Yea and he has to tarnish his reputation with all these bs. Serve him right though but now Malaysia lack any competent leader
Kalaulah hang tau berapa gomen kena tanggung utk MRT
Unfortunately, surrounded by numerous gold-digger and pick- pockets..
@@azharluvphysics habis? Ko nk free ke? Benda tu akn bertahan bertahun2, bukan projek tangkap muat
@@Amiramirfaris97 tahan ye? Tiap kali hujan mesti ada baldi merata.
MALAYSIA BOLEH !!!!!!
I still haven’t born at this time…
Incredible Malaysia 🇲🇾😁
It's okay. It's the real nature of Muslims.
Go for hajj & all is forgiven Brother
Britain ruled Malaya for a lot longer than a decade.