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1MDB had undertaken a purported joint venture with PSI Limited, which eventually resulted in 1MDB losing billions of ringgit to the purported “investment” which had zero returns. When pressed by Muhammad Shafee as to whether due diligence was conducted since she was 1MDB’s general counsel, Loo said she did not see a necessity then since there was nothing that triggered suspicion at the time.Later, Muhammad Shafee accused Loo of giving self-serving testimony as she herself has been under investigations by the authorities for her involvement in the fraud.
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