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Najib Spooked

If 1MDB is hotly-debated in Malaysia's political classes, it likely doesn't register as much with rural voters, a potentially powerful swing bloc. Millennials are another voter block to watch out for: disillusioned young Malaysians have united behind #UndiRosak, a hashtag which encourages spoiling ballots instead of voting for either candidate.

A defeat for Najib and his party would almost certainly expose what has until remained under cover on 1MDB, and the PM and his ruling party appear spooked by the close race. Electoral officials are attempting to rush through changes to voting maps, which are expected to bolster Najib's standing. 

The fund itself set aside a dispute over a bond deal gone sour with Abu Dhabi last year. Malaysia hasn't cooperated with Switzerland, for example, in gathering evidence in the probe.

Private Bankers' Fate?

Several factors could still blow open the scandal: Sessions' comments two months ago indicate a harsher tone than Najib's September visit to President Donald Trump would indicate. Whether and how U.S. prosecutors follow through will dictate Najib's agenda.

Investigators may yet turn up Interpol-sought Jho Low, who is believed to be the linchpin of the opaque money movements out of Malaysia and into a host of luxury projects and investments. 

And what of several private bankers including Swiss banker Hanspeter Brunner? Banca della Svizzera Italiana's former top banker in the region is sitting tight until Singaporean authorities decide whether to levy charges. The city-state has been undaunted by rank or nationality before, and Swiss and Singapore officials worked in lockstep on the investigation.

A spokeswoman for Singapore's white-collar crime unit, the CAD or Commercial Affairs Department, declined to comment to finews.asia inquiries about the fate of Brunner and his former deputy Raj Sriram.