MOTHER OF BOMBSHELLS: AS MUCH AS US$ 6 BILLION SIPHONED FROM 1MDB - INVESTIGATORS RAISE THEIR ESTIMATES

In March 2013, a young Malaysian financier sent a heads-up to an employee at a Kuala Lumpur bank that "681 American pies" would soon be arriving from overseas. e wrote, should tell the bank's chief executive that "PM" didn't want his name, address or identity-card number to appear on the transaction.

Within days, US$681 million (S$920 million) arrived in two transfers at AmBank Bhd. to be deposited in the personal account of Malaysian Prime Minister Najib Razak, according to documents seen by the Journal.

Global investigators believe those transfers represent a portion of the money diverted from a Malaysian state economic-development fund called 1MDB over several years, according to people familiar with probes in two countries. As they dig deeper, investigators have increased their estimates of siphoned funds to as much as US$6 billion, a sharp increase from a few months ago, said a person familiar with one country's probe.

Mr. Low has been in Mr. Najib's inner circle, a family friend, according to people who know the prime minister. At several pivotal moments, Mr. Low's actions, influence and connections have been vital to the alleged diversion of 1MDB funds, a Journal examination found. Investigators describe Mr. Low as playing a central role, with the prime minister his "enabler," according to the people familiar with probes in two countries.

In addition, according to these people and to investigative documents, Mr. Low himself was the recipient of 1MDB funds, with control over hundreds of millions of dollars.

Mr. Low has denied any wrongdoing. He also has said he was only an occasional and unofficial adviser to 1MDB, which stands for 1Malaysia Development Bhd.

Jho Low with Riza Aziz, son of Najib's wife Rosmah Mansor

- WSJ