In the summer of 2011, Liu and his accomplices controlled a fortune of up to $2 billion with 1MB, but most of it has long since been squandered.

Therefore, in order to be able to provide the money for the filming of "The Wolf of Wall Street" on time, and to fill other loopholes, Liu had to do illegal things again.

In a previous failed acquisition, Liu met Kubesi, the managing director of Abu Dhabi's sovereign wealth fund, the International Petroleum Investment Corporation (IPIC).

Liu wants IPIC to guarantee 1MB in order to pave the way for a future IPO.

In return, IPIC will acquire overseas coal-fired power plants in Malaysia at competitive prices.

Gary Cohen, then president of Goldman Sachs, received a whopping $190 million in commissions on the IPO.

In late April 2012, as Goldman Sachs prepared to issue its first 1MB bonds, about 100,000 protesters took to the streets of Malaysia to express their anger at ***.

I wanted to use 1MB to improve my prestige, but I was smart and mistaken.

Diametrically opposed to his situation, Liu was not affected in the slightest and still lived a luxurious life.

He made more than $1 billion from the sale of 1MB of assets by Goldman Sachs.

In November of that year, he threw himself a lavish birthday party in Las Vegas, where international superstars such as Uncle Bird and Chris Brown were invited to perform, and even Britney Spears jumped out of his birthday cake.

In March 2013, Goldman Sachs sold the bond again for 1MB and earned nearly $600 million in commissions in just 12 months, 200 times the normal transaction fee.

On May 5, 2013, although *** was re-elected as the Malaysian boss by a narrow margin, the questions about him and the 1MB fund have reached the point where it is difficult to hide them.

In the months that followed, the Edge newspaper published a detailed investigative report on 1MB, and the Wall Street Journal, an ugly country far across the ocean, wrote a questioning article about it.

In the second half of 2013, Liu bought more than $300 million worth of art from the world's top auction houses and hid them in the Free Port of Geneva.

At the same time, he also purchased valuable jewelry, with a total value of more than $200 million as of September 2014.

As the media became more and more dissatisfied with the 1MB, a British female journalist named Claire Rockadell Brown also discovered the fund's problems.

In 2014, she got in touch with Jasto, a former employee who had been kicked out of Saudi Aramco in 2011.

It just so happened that Mr. Jasto had a copy of a copy of 500,000 e-mails documenting the illegal operations of Jho Low and others, and he offered reporters $2 million.

Claire Rockasll Brown couldn't come up with that much money for a while, so she contacted the Malaysian newspaper Fringe to give her financial support.

In early 2015, after experts confirmed that the hard drive provided by Mr. Justto had not been tampered with, the newspaper Edge agreed to pay the fee.

Over the next month, after extensive media coverage of 1MB, *** began to be anxious.

At the same time, the police raided the bank and got the account of ***.

AmBank's combing through these accounts revealed that between 2011 and 2014, more than US$1 billion was transferred to ***'s personal accounts.

In the Middle East, IPIC's general manager, Kubesi, was also cheated by his own housekeeper.

The housekeeper provided Claire Rockasll Brown with a great deal of evidence of Kubesi's illegal dealings with Liu, and also attached a large number of photos of Kubesi eating, drinking, and having fun around the world.

Seeing the incident in the east window, the desperate *** was desperate and decided to take a risk.

In June 2015, Thailand's armed police arrested him while on vacation in Jasto, confiscated all his computers and documents, and forced him to sign a "guilty plea" to apologize to Saudi Aramco.

As a result, people may question the content of Jasto's previous emails to the media, as have several reporters from The Edge also been arrested and detained.

In July 2015, the Ministry of Justice of Malaysia proposed criminal charges***.

In September of that year, Deputy Attorney General Kevin Morath, who was in charge of investigating the *** case, was killed, and his body was eventually found in the swamp.

In the same year, 1MB began to attract the attention of ugly countries.

In July 2016, after a cursory investigation by the Justice Department, Liu, Riza, and Kubesi illegally transferred at least $3.5 billion.

Immediately afterwards, Liu's private mansion, art and other assets were frozen.

In August 2017, the Ministry of Justice launched a criminal investigation into Jho Low against 1MB.

The banks represented by BSI have been fined more than US$20 million by the Monetary Authority of Singapore.

In the Monetary Authority of Singapore General Manager Ravi? Menon seems:

"When you impose a large fine on a bank, it's only the shareholders who are hurting, and the individual who committed the offense is not held personally responsible."

Indeed, in August 2016, Qubesi was detained by Abu Dhabi police.

Although all of his assets were frozen, he was not formally prosecuted.

Not only did Liu continue to live a prosperous life, but he also continued to party, and even had a child between the end of 2016 and the beginning of 2017.

On July 3, 2018, the judge who had decided to arrest *** by anti-corruption officials read out four charges against him, including abuse of power and three counts of breach of trust.

Under Malaysian law, each charge carries a sentence of 20 years in prison.

refused to admit it, and was eventually granted $247,000 bail.

On October 30, 2019, the Ministry of Justice reached a settlement with Liu, and Jho Low returned more than $700 million in assets.

In fact, the emergence of such people shows that there is a huge gap between Malaysia and the developed countries that we envision to become and reality.

Local talent has been forced to flee, while Western financial institutions have indirectly pushed Malaysia deeper into financial distress in order to earn huge commissions.

When Liew was splurging on a spree, he didn't care how many generations of Malaysians would be affected by such corruption.

This is not only the characteristic of capital, but also the greed and ugliness of human nature.

All this, as the classic quote goes:

"When the profit reaches 10 percent, there are people who are ready to move; When the profit reaches 50%, some people dare to take risks; When the profit reaches 100%, they dare to trample on all the laws of the world; And when the profit reaches 300%, there is no fear of even going to the gallows. ”

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Just after Mr. Lai rejected Elgin Mueller's plan to circle money, he drove to Wall Street and met a big man.

Located on the island of Manhattan in New York, Wall Street is less than 500 meters long, but it has become a financial and securities trading center for the ugly country and the world because of the convergence of various stock exchanges, investment banks, headquarters of large companies and commodity exchanges.

Its development is full of legends.

From 1653 to the end of the 19th century, it was the founding period of Wall Street.

New York was originally called New Amsterdam and was a Dutch colony.

At that time, the Netherlands already had a very complete financial system, including banks, stocks, insurance, etc., and they brought the commercial spirit of capitalism here.

In 1664, New Amsterdam was captured by the English and renamed New Yorkshire (i.e., New York).

In 1776, when the Ugly Kingdom was founded, the first Treasury Secretary Hamilton issued a large number of Treasury bonds, and the New York capital market expanded rapidly, and the volume of transactions surged.

In order to prevent vicious competition among securities brokers in trading commissions, brokers collectively agree that:

When providing securities trading services to customers, the charge shall not be less than 0. With a 25% commission, this is the Sycamore Tree Agreement.

From the signing of the Sycamore Tree Agreement in 1792 to the establishment of the Federal Reserve in 1913, the country did not even have a central bank.

In such cases, the destructive power of speculators is often incalculable.

At the beginning of the 20th century, the speculator Hinds triggered a bank run that led to the Great Financial Panic of 1907.

Without a central bank, the federal government is helpless.

Fortunately, JP Morgan and his bank stepped up to act as a central bank, which finally saved the ugly country's economy, and this year was also the official beginning of Wall Street in the modern sense.

The late 19th century and early 20th century were the unruly adolescence of Wall Street.

In 1900, the GP of the Ugly Country surpassed the United Kingdom for the first time and became the world's largest power.

Wall Street, in financing the heavy industrialization of the ugly country, rapidly expanded its size and influence.

In 1901, J· P. Morgan reorganized Chouguo Steel Company with a total scale of 1.4 billion US dollars, equivalent to 7% of Chouguo's GP at that time.

The First World War stimulated the development of the country's economy, and the amount of government bonds issued to finance the war expanded from $1.2 billion to $25.5 billion, and the size of the capital market jumped to the largest in the world.

After the end of World War I, the stock market of the ugly country entered a crazy bull market.

At this time, the Federal Reserve was not established long ago, and its ability to judge and contain stock market bubbles was insufficient, so it did not take measures such as adjusting interest rates to curb excessive speculation.

This led to the birth of the famous "Black Thursday" a few years later, when the stock market of the ugly country fell by as much as 22% in a single day.

In the Great Depression, all investors were in trouble.

At that time, there was a joke that the greeting of the five-star luxury hotel Ritz Caton changed to "Excuse me, do you open a room to stay or jump off the building?" ”

After the stock market crash, Lao Luo implemented the "New Deal" and asked Kennedy Sr. to serve as the first chairman of the Securities and Exchange Commission.

Kennedy Sr. was very good at loopholes in market rules and manipulation in the market, and under his leadership, Wall Street learned from the pain, improved various laws and regulations, and moved towards standardization step by step.

After the stock market crash of the 20s and the Great Depression of the 30s, Wall Street entered a "maturity period".

Among them, there are two landmark events, one is the reform of the securities brokerage industry by the Merrill Lynch model, and the other is the emergence of securities analysis methods.

The founder of Merrill Lynch's model was called Merrier, who started out as a Wall Street broker.

In 1929, Wall Street entered a depression and there was no business to do, so he had to work as a financial advisor for the chain.

Merrill introduced the chain store model into the securities brokerage and established outlets all over the country, and Merrill Lynch became a "giant" in one fell swoop.

All of their brokers are highly trained to provide financial services to the public.

Previously, in people's minds, brokers have always been a bunch of baddies who use their clients' money to fatten themselves.

Merril's efforts have improved the image of Wall Street brokers, instilled a professional and honest concept of the financial industry in the ugly country, and transformed the capital market from a game for the few to a place for the masses to invest.

The method of securities analysis originated with Graham.

Earlier, investors did not have a scientific method of analyzing the value of securities, and stocks were completely speculative instruments.

Graham proposed new concepts such as cash flow and corporate working capital, which became the most basic common sense in modern finance.

He created a whole set of analytical methods and investment tools, made a lot of money, and became famous.

People have learned investment from him, including the later investment master Lao Ba.

Let's not mention Lao Ba, the legendary person Li Yaoyang wants to meet may not have been heard of by many people, his name is Jesse, Jesse Livermore.

Born in 1877, he is definitely the superstar of Wall Street in this era.

Livermore has blonde hair, blue eyes, and a thin build.

He was unkempt, his suit was always crumpled, and his tie was crooked. The descendant of this Englishman always had a cigarette in his mouth and smoked 10 Havana cigars a day.

Born in Massachusetts, Jesse's family was poor, and his father made a living as a farmer in New England.

The status quo of life cannot satisfy the young Livermore, Leo has been determined to get ahead since he was a child and become rich in the world!

His father wanted him to drop out of school and his son inherit his father's business, and at the age of fourteen, he chose to run away from home to find a life that could change the status quo!

Fourteen-year-old Livermore left for Boston alone, with only five dollars in his pocket.

He got a job copying blackboards at a company for a meager salary, and he only received six dollars a week!

This company hires a market collector who sits in the business hall, and as soon as the stock quotation of the market collector comes in, he has to open his voice and shout as soon as possible.

Livermore's new job was to copy the numbers on a large blackboard that covered the entire wall of the brokerage as soon as he heard the quote come out.

Livermore was soon able to use percentages to indicate the rise and fall of prices, and he began to take notes, jolding down the numbers he had copied on the blackboard, and soon found that some of the patterns in them were on the paper.

He jotted down thousands of price movements in a diary-like notebook, studying them for peculiar patterns at a time when there were many speculative firms in Boston that were buying and selling short with customer money.

The counters of these storefronts resemble a gaming floor, where customers place bets on the price of the stock to predict how it will move.

These customers think they can measure the rise and fall of currencies and stock indices.

When you bet on how much money per point, if the stock index goes up, you win;

But if the index falls by 10 pips, you lose 10 times your bet.

Livermore's first trade was with a friend who was at a shell broker — a dishonest and unregistered broker-dealer who used client money to speculate on stocks and commodities, or to take orders from clients without trading them through an exchange – to place an order.

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Chapter 422: Meet the Legend (1) Free Reading.