Billion dollar whale The man who fooled Wall Street, Hollywood, and the world

Ever hear of a guy named Jho Low? No? You're not alone. Although the Malaysian man was behind one of the largest financial scams in history, he and the scam itself are virtually unknown even though he was throwing around money as though he had an unlimited supply of the stuff only a decade or so ago. Written by a pair of Wall Street Journal reporters, this well-researched and well-documented book reveals how Low, who had no credentials apart from a business degree from Wharton, insinuated himself into the Malaysian prime minister's inner circle, came to control hundreds of millions (perhaps billions) of dollars, and attracted celebrity pals from around the world. It reveals how Low used a bag of tricks, including financial fraud, to make himself seem more powerful, more influential, and more successful than he actually was. And it reveals the deep flaws in the Malaysian government that allowed Low to become an unofficial controller of a billion-plus-dollar development fund from which, apparently, he simply stole huge sums of money. For fans of business books about financial misdealings, this is a must-read.--David Pitt Copyright 2018 Booklist

Wall Street Journal reporters Wright and Hope tell an amazing tale of greed and sovereign corruption. Expanding on their investigative series into Malaysia's investment fund, 1MDB, the authors portray a toxic brew of Hollywood elites for sale, Wall Street, investment banks, and foreign politicians, all willing to look the other way in return for a payout. The book spans the period 1999-2018 and takes readers onto yachts and into private clubs and elite banks. Groomed by their roguish father, the Low children learned how to use offshore bank accounts to divert money. At the University of Pennsylvania's Wharton School, son Jho Low understood finance, partying, and networking. His connections paid off as he aspired to become a billionaire using other people's money. Thanks to his relationship with the stepson of Malaysia's Prime Minister, he latched on to its investment fund, going on a multibillion-dollar spending spree of art, jewels, a yacht, and lavish homes. The book details how the movie The Wolf of Wall Street was financed. When Jordan Belfort, the convicted "wolf," met Low at an extravagant prerelease party, he recognized a fellow con man. VERDICT A juicy and entertaining tale of crime and deception for all collections.-Harry Charles, St. Louis © Copyright 2018. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.