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UAE/Region: Spectre of 1MDB returns with convictions for ex-Ipic execs

The 1Malaysia Development Berhad (1MDB) scandal has re-entered the public glare in the UAE, where two senior executives of the now-defunct International Petroleum Investment Company (Ipic) have been convicted of financial crimes and sentenced to prison. The charges seem not to be related to 1MDB, but the executives, who had flown high in Ipic and the Aabar group, were accused of malfeasance in the Malaysian affair – although at least one of them has protested they are scapegoats to hide abuses at the most senior levels.

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