[ READ EBOOK ] ♬ Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World ⚕ MOBI eBook or Kindle ePUB free

Bad Blood meets Crazy Rich Asians This is a hard one to rate the story itself is astounding and outrageous, and I think an incredibly important story to know The writing, on the other handis a good case study in why journalists are not necessarily authors Full sentences repeated themselves throughout the book, countless details re introduced over and over including exciting facts like Bangkok is the capital of Thailand sigh The authors twisted themselves into introducing a cliffhanger at the end of each chapter that was obvious and uncomfortable at best and at worst, created discrepancies in the reporting The way Low was portrayed varied quite a bit is he shy or outgoing.charismatic or awkward I ll never know after this book because he was both I also thought there was a missed opportunity to talk about the impact on Malaysia and its people as a whole There were some references throughout the book but I think there is a much bigger story here Recommend reading a long article about this heist instead. If you have never followed the 1MDB scandal closely, you should read this to catch up If you are bored and looking for a good thriller, you should read this book If you are Malaysian you should read this book If you work in the finance industry, you should read this book If you re looking for Hollywood mixed financial crime scandal, you should read this book If you re looking to feel infuriated, you should read this book.In general, you should read this book That s it. Its hard to put down this book, as if the stories were fantasies The heist commited by Jho Low is definitely bigger than Bernie Maddoff ponzi scheme, well at least Bernie s inverstors got their profits back.Jho Low represents a desperate figure who wants companionship, recognition and love even if it is fake through money His acts, cowardly hiding behind without holding an official position in 1MDB undoubtedly shady, but not a problem for a stupid prime minister like Najib at that time Low s scheme perfectly summarized in the page 371 he sensed that the world s largest banks, it s auditors, and its lawyers would not throw up obstacles to his scheme if they smelled profits Thank you to Tom Wright and Bradley Hope for writing this book I would probably need to smuggle it if Najib wasn t defeated back in May 2018 I hope that the publisher would consider releasing a cheaper version, and maybe translate into the Malay language so thatMalaysians can read this book. [ READ EBOOK ] ♈ Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World ⚆ An Epic True Tale Of Hubris And Greed From Two Pulitzer Finalist Wall Street Journal Reporters, Billion Dollar Whale Reveals How A Young Social Climber Pulled Off One Of The Biggest Financial Heists In History Right Under The Nose Of The Global Financial Industry Exposing The Shocking Secret Nexus Of Elite Wealth, Banking, Hollywood, And Politics The Dust Had Yet To Settle On The Global Financial Crisis InWhen An Unlikely Wharton Grad Was Setting In Motion A Fraud Of Unprecedented Gall And Magnitude One That Would Come To Symbolize The Next Great Threat To The Global Financial System Billion Dollar Whale Will Become A Classic, Harrowing Parable About The Financial World In The Twenty First Century The amount of money being spent casually at the expense of the Malaysian citizens was giving me anxiety The book is clear and well written although it kind of require some basic financial economic knowledge throughout the pages thanks Google Can t believe that I m living through one of the biggest financial heists in history I hope Low and his associates are soon captured and put behind the bars for his massive graft and corruption. Since the publication of All The President s Men, Barbarians At The Gate and Too Big To Fail, there have been few books of this genre that have gripped the imagination of the reader until the arrival of Billion Dollar Whale A whale is a high rolling gambler who consistently wagers large amounts of money High rollers often receive lavish comps from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos best suites.Acclaimed journalists Tom Wright and Bradley Hope combine to deliver a jaw dropping tour de force that elucidates how the impudence of a rogue individual, the intransigence at the highest levels of a rotten kleptocracy and the greedy ingenuity of a Wall Street behemoth, all combined to pull off, what arguably has to be the most brazen heist in financial history.Swindler, Fixer, Wheeler Dealer, Compulsive liar, and globe trotter, Low Taek Jho Jho Low first appeared as a simmering mist when rumours regarding a possible swindling of money from Malaysia s sovereign wealth fund, 1 Malaysia Berhad 1MDB for short began doing the rounds As tumultuous events subsequently demonstrated in horrific detail, this was no swindling of a routine run of the mill nature associated with the functioning of a Government fund As Mr White and Mr Hope detail with extraordinary clarity, 1MDB was representative of a total collapse of governance at multiple levels It was a gargantuan vehicle of personal convenience whose wheels were greased by the lubricants of graft 1MBD was a mother lode of all scams that ultimately resulted in the toppling for the first time ever of the kleptocratic United Malys National Organisation UMNO and its strong man, Prime Minister Najib Tun Razak At the eye of the storm was Low Taek Jho.Ambitious and eager to make his mark in the world of the nouveax rich, Jho Low, an alumnus of Harrow and Wharton, banking on his Ivy League Networks persuaded the Prime Minister of Malaysia to set up a sovereign wealth fund to be named 1MDB The fund was to partner with PetroSaudi, a company ostensibly owned by a member of Saudi Royalty, Prince Turki What followed as Mr White and Hope illustrate in all its grisly detail is a complex, convoluted and conniving structure that resulted in multiple companies being incorporated in various tax havens across the globe through which moneys originally intended to fill the coffers of the fund were systematically and ruthlessly siphoned off by Jho Low and his associates.The con man proceeded to spray his loot on excesses that are hard to imagine For instance, to celebrate his thirty first birthday, Jho Low not only stayed at the 25,000 per night Chairman Suites of the fifth Floor of the Palazzo Hotel in Las Vegas, he also arranged a grand celebration that had for attendance, Swizz Beatz, Jamie Foxx, Leonardo Di Caprio, Benicio Del Toro, Busta Rhymes, Ludacris, Chris Brown and hold your breath Britney Spears popping out of a faux cake to wish Low a happy birthday This elevation of Jho Low who otherwise would be deemed to be a parvenu within the circles of an elite from a virtual nobody into a uber rich multi billionaire splurging 250 million on a luxury yacht Equanimity or 8 million on acquiring jewelry to impress his could be girlfriend Miranda Kerr, was facilitated by a phalanx of unscrupulous characters who in a Faustian bargain sacrificed sense at the altar of greed.At the very apex of the pyramid was the former Prime Minister of Malaysia, Najib Razak Although unaware of the insidious depth of Jho Low s macabre motives, the politician was none too averse to utilize public funds to both further his electoral prospects and to satiate the inexorable material needs of his high spending, preening and strutting wife, Rosmah Mansor Having set up a secret account for the Prime Minister with Ambank, a bank that had ANZ Grindlays as its largest shareholder, in March 2013, Jho Low sent a BlackBerry message to Joanna Yu, an employee at Ambank in Kuala Lumpur, warning her that 681 American Pies would soon be arriving from overseas into an account known as AMPRIVATE BANKING MR Very soon a whopping sum of 681 million made its way into the designated account to be used for the purposes of bolstering the chances of the Prime Minister in the ensuing elections of 2013.The stash accumulated by Rosmah Mansor was to say the least jaw dropping Police raided Kuala Lumpur apartment units owned by Najib s family and carted out 274 million worth of items, including 12,000 pieces of jewelry, 567 handbags and 423 watches, as well as 28 million in cash To drum up the money for 1MBD, and in the process, to obtain their own significant cut, was the ruthless Wall Street Banking giant Goldman Sachs The duo of Dr Timothy Leissner, the flamboyant playboy and Chairman, South East Asia, and Andrea Vella, Head of Goldman structured finance business in Asia, who between them, ensured that, in total over just twelve months, the bank had earned nearly 600 million from selling three bonds for the 1MDB Fund two hundred times the typical fee A Board of puppets and toothless tigers at 1MDB headed by Shahrol Halmi, merely rubber stamping the orders of Jho Low and the Prime Minister contributed to a great extent to the continuing pillage When a contentious Mohammed Bakke Salleh, the Chairman of the Fund started raising suspicions, he was promptly removed and replaced by another pliant loyalist.Three different auditing firms part of the Big 4s that completely failed in their duties to detect brazen round tripping and non existent redemption of funds from obscure Cayman Island accounts.The bankers themselves who compromised on all scruples at the prospect of personal enrichment Yak, a banker with the BSI Group in Singapore, began to take home around 5 million a year in salary and bonuses,than five times his previous earnings, binding him to Low, the money and adulation too alluring to turn down Finally, the man s insatiable desire to be drenched in fortune and drown in fame led to a rampant fostering of greed which no amount of monetary resources could curb Spending a staggering 85 million on alcohol, gambling in Vegas, private jets, renting superyachts, and to pay Playboy Playmates and Hollywood celebrities to hang out with them renting a suite of rooms that cost 100,000 per month acquired a condominium in New York s Park Laurel Building for 36 million spending 2 million euros on champagne in one single night at Saint Tropez funding Red Granite a production company co owned by Riza Aziz, the step son of Najib Razak and Joey McFarlane that produced the Martin Scorsese directed Wolf of Wall Street The heady intoxication fueled by laundered money now began seeping into the exotic world of art In all between May and September 2013, Low, via Tanore, bought 137 million in art But Low had picked upsuch as the Van Gogh, as well as works by Lichtenstein, Picasso and Warhol, and by the end of the year he possessed art worth an estimated 330 million These precious acquisitions were stashed in the secretive entrepots of the Geneva Freeport a sanctuary for preserving the material possessions of the uberelite , way beyond the prying eyes of the taxman.Mr White and Mr Hope have left no stone unturned in their quest to both unearth and unleash the truth They have done a fabulous job at that The narrative is laid out in a matter of fact, bare bones manner with neither an intention to sensationalize things nor to take biased sides The research is maddeningly methodical and unbelievably extensive One can only imagine the two intrepid journalists sifting through what must have been an Everest of physical and digital depositories This sure is an 8848 meter research of exemplary calibre When the dust finally settled on the pilfering, plunder and pillage, 1MDB was in debt to the tune of a whopping 10 billion with Low and his associates vanishing into thin air At the time of this review, Low is a wanted fugitive with an Interpol notice hanging over his head like a Damocles sword Swiftly running out of options, the net of justice and the harpoons of infernal hell seem to be closing down upon this invidious whale Epic avarice on a global level If you don t think the financial markets are rigged for the rich in corruption that spans continents you need to read this The tie ins to Hollywood and American pop culture gives a new perspective to just how rich these people are and how their greed knows no bounds and their consciences are nonexistant. First of all, the author makes this clear at the end, but not nearly clear enough This is not a story about some random Malaysian conman it s a story about Goldman sacks and hollywood and the Saudis and how greed allowed someone to lie and cheat his way to partying with Leonardo DiCaprio and Paris Hilton Everyone can be bought That s the moral of the story There was some hyperbole here on the financial crime Though Wright tries several times, he s not quite able to pull off a great explanation for why this crime was unique or even a crime besides the fact that it didn t work out Also, he seems to want to paint all the foreigners as corrupt and shady, but he goes light on all of Low s legal and banking helpers in America and all the money they made on him I don t believe in the bad guy story of finance I think we have the system we want Low was just shadier than the average investor and less scrupulous And he didn t make his investors rich, which I guess is why he s on the run now Also, the money they throw around and by they I mean all the hollywood stars and actors in the nightclubs is obscene Disgusting 2 million in alcohol purchases in one night Millions in casinos I mean, it s revolting and yet we allow it There is no reason for it The Wall Street Journal seems to be doing something right, Rupert Murdoch ownership notwithstanding, because for the second time in 2018 I find myself reading a truly amazing book that s based on investigative work done by its correspondents.Not only that, but it can be said with some certainty that in both instances Elizabeth Holmes pseudo science in Bad Blood and Jho Low s Najib Razhak s stolen billions in Billion Dollar Whale the Journal has played a pivotal role in shining light on these crimes and bringing the criminals to justice.Indeed, I finished this book pretty much on the same day as Goldman was forced to let go of Andrea Vella, the head of its Asian business, for the crimes described here.If, like me, you are a glass half empty kind of guy, of course, you will also remark that it s a terrible state of affairs when journalists are ahead of our justice system to say nothing of the supposed pillars of our capitalist system , but that cannot possibly detract from what was a tremendous, fast paced, comprehensive and rather convincing book.The crime of money laundering and the technique of layering are rather tedious, of course And the number of characters in the book makes the cast of characters in the introduction a total must But the main character in the book, Jho Low, was such a party animal that provided you have a tolerance for what felt like at least one dodgy financial transaction per page this was actually a fun book to read And it tickled the voyeur in me, who got to see how the other half live Frankly, I ve now had my fill of Swizz Beats, Alicia Keys, Jamie Foxx, Leonardo DiCaprio and Miranda Kerr, to say nothing of the sundry Sheikhs, their boats and their jets any tips on how to get the cigar smoke off my clothes are welcome