Billion Dollar Whale

Starred review from July 16, 2018
Wall Street Journal correspondents Wright and Hope transform their investigation of a mind-boggling financial fraud into a nonfiction thriller tracking the rise and fall of Jho Low, the “alleged mastermind of a multi-billion-dollar scam.” In 2003, Low convinced an adviser to the rulers of the United Arab Emirates that he could broker deals between Middle Eastern and Southeast Asian governments. He then parlayed that connection into a relationship with a Goldman Sachs banker, who helped set up a Malaysian sovereign wealth fund in 2009, which was overseen by Najib Razak, the prime minister of Malaysia and Low’s family friend. The authors contend that Razak turned a blind eye while Low siphoned billions of dollars from the state fund into a “byzantine labyrinth of bank accounts, offshore companies, and other complex financial structures.” Low, still a fugitive, used the stolen loot to “build a Hollywood production company, commission one of the world’s grandest yachts, and throw wildly decadent parties around the globe.” The authors explain how lax oversight enabled Low to carry out such a scheme. Complete with an epigraph from Jordan Belfort of Wolf of Wall Street fame, this is an epic tale of white-collar crime on a global scale.

If absolute power corrupts absolutely, then what of the seductive power of money? This compelling audiobook tells a tale we've heard before: In 2009, a creative genius named Jho Low uses his abilities and position to steal billions of dollars from investment funds that are supposed to be built to repel such efforts. Narrator Will Collyer has an expressive, spirited voice that propels this unlikely story forward and animates the author's words. Collyer reads confidently, pauses for effect, and verbally winks when necessary. He doesn't create characters but makes it clear when there's a quote and changes his pitch to punctuate emotions. The result is a cracking story told well and narrated with professional assurance. R.I.G. � AudioFile 2018, Portland, Maine