The court found the defendants guilty of colluding in embezzling $1.8 billion from 1MDB, calling it a calculated and excessive fraud that detrimentally affected Malaysia's economy.
Prosecutor Alice de Chambrier described the scheme as the 'scam of the century,' highlighting the defendants' calculative and manipulative actions that showcased extreme greed.
The court indicated that the defendants had engaged in intricate measures to mask the embezzled funds' origins, committing numerous acts to obstruct justice and asset recovery.
Obaid and Mahony's actions included falsifying investment opportunities under the guise of a joint venture, resulting in significant financial losses for the Malaysian sovereign fund.
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