US Attorney-General Jeff Sessions called the Malaysian 1MDB scandal “kleptocracy at its worst” at the Global Forum on Asset Recovery hosted by the World Bank and the United Nations Office on Drugs and Crime. He informed the international audience that half of the US$3.5 billion in assets seized by the Department of Justice’s Kleptocracy Asset Recovery Initiative was related to its suits on 1MDB.
He said that allegedly corrupt officials and their associates had reportedly used the 1MDB funds for a “lavish spending spree” such as US$200 million for real estate in South California and New York, US$130 million in artwork, US$100 million in an American music label and a US$265 million yacht.
1MDB officials allegedly laundered more than US$4.5 billion in total, he said, through a complex web of opaque transactions and shell companies with bank accounts in various countries such as Switzerland, Singapore, Luxembourg and the US.
These allegations, while not new, have taken a more serious turn as the United States Attorney-General has now made these allegations at the World Bank international conference.
The question now is whether our Prime Minister Dato’ Seri Najib Razak will just let a foreign country disparage and destroy Malaysia’s international reputation and credibility? Is he not going to speak out to defend Malaysian’s honour? Does he think that the US Attorney-General’s speech will have no impact Malaysia’s attractiveness as a destination for tourism and investment?
We call upon the Prime Minister, Dato’ Seri Najib Razak to summon the United States Ambassador to express in the harshest possible terms our protest towards all the allegations made by the US Attorney-General. In fact, he should immediately file an official complaint with his golf-buddy, President Donald Trump and demand an apology from the United States government.
This week Dato’ Seri Najib is scheduled to address the UMNO General. There could not be a better opportunity for the Prime Minister to boast to his faithful that he has taken the firmest possible action against foreign powers bent on sabotaging Malaysia’s economy and progress.
Hence why is Dato’ Seri Najib Razak remaining quiet as a mouse? Is it because Jeff Sessions has merely stated what is the inconvenient truth for him and his administration?
In fact, the Government’s continued silence to the disparaging of Malaysia’s reputation and credibility by top Government leader overseas only serves to confirm that Dato’ Seri Najib Razak and his Government is guilty as charged – billions of dollars have been laundered by “corrupt officials and their associates”.
In that case, Dato’ Seri Najib Razak must answer to every Malaysian as to why not a single person relating to the 1MDB scandal has been investigated and charged for these heinous crimes in Malaysia.
Showing posts with label Kleptocracy. Show all posts
Showing posts with label Kleptocracy. Show all posts
Wednesday, December 06, 2017
Friday, September 15, 2017
Dato’ Seri Najib Razak must sue Newsweek and CNN for calling him a “crook” to redeem not only his reputation, but also the pride and honour of Malaysians
Internationally renowned journal, Newsweek published an article by former World Bank President, Paul Wolfowitz with the headline “Trump meeting with Malaysian crook Najib reeks of the swamp” on 13 September 2017.
At the same time, internationally renowned broadcaster, CNN reported the meeting between President Trump and Dato’ Seri Najib Razak in its “Conflict of Interest Watch” story. They reported “Najib’s alleged role in what the United States Justice Department called an international conspiracy to launder funds misappropriated from a Malaysian fund, money that the Justice Department says should have been used to help the Malaysian people but instead was used by a small number of individual to fuel their, quote: "astonishing greed".
There is absolutely no question that the reputation of Dato’ Seri Najib Razak has been torn to shreds by the international media. The Prime Minister’s vain attempts at lifting his profile as an adored international leader invited to the White House by President Trump have not only failed to achieve his goals, but destroyed whatever semblance of credibility he might have had left.
Worse, he isn’t the sole or biggest victim of being labelled an international “crook”. The utlimate victim is Malaysia and its citizens as we have no where to hide our faces as we have been shamed almost beyond redemption. We have lost our honour and pride when the leader of our country becomes an infamous “crook” while Malaysia earns the kleptocracy badge.
What ‘face’ do we have left when our Prime Minister goes to the United States to help make America great again by offering their economy our crown jewels worth some RM60 billion, but all we get from the US media is mud thrown at our faces?
We call upon the Prime Minister to put together the best team of international lawyers to sue Newsweek and CNN for defamation and publication of “fake news” to redeem not only his reputation, but our honour and pride.
After all, Dato’ Seri Najib Razak is well-known for going to the Court to protect his so-called reputation. I have been at the receiving end of two such defamation – one in 2014 and one in 2017 with regards to 1MDB, both of which are still undergoing the legal process.
At the very least, the Prime Minister’s lawyer, Datuk Hafarizam Harun should inform both Newsweek and CNN that Dato’ Seri Najib Razak is open to an apology. He has offered me the same option just two days ago, claiming that the Prime Minister “is open-minded and would accept an 'I am sorry Mr Prime Minister'” in order for a legal settlement to be reached.
However, if Dato’ Seri Najib Razak doesn’t even have the courage to salvage his reputation and credibility internationally by suing Newsweek and CNN, then the entire world would only be convinced that he is guilty as charged. In which case, there would of course be absolutely no reason for me to offer Dato’ Seri Najib Razak any apology for pretty much saying the same things.
At the same time, internationally renowned broadcaster, CNN reported the meeting between President Trump and Dato’ Seri Najib Razak in its “Conflict of Interest Watch” story. They reported “Najib’s alleged role in what the United States Justice Department called an international conspiracy to launder funds misappropriated from a Malaysian fund, money that the Justice Department says should have been used to help the Malaysian people but instead was used by a small number of individual to fuel their, quote: "astonishing greed".
There is absolutely no question that the reputation of Dato’ Seri Najib Razak has been torn to shreds by the international media. The Prime Minister’s vain attempts at lifting his profile as an adored international leader invited to the White House by President Trump have not only failed to achieve his goals, but destroyed whatever semblance of credibility he might have had left.
Worse, he isn’t the sole or biggest victim of being labelled an international “crook”. The utlimate victim is Malaysia and its citizens as we have no where to hide our faces as we have been shamed almost beyond redemption. We have lost our honour and pride when the leader of our country becomes an infamous “crook” while Malaysia earns the kleptocracy badge.
What ‘face’ do we have left when our Prime Minister goes to the United States to help make America great again by offering their economy our crown jewels worth some RM60 billion, but all we get from the US media is mud thrown at our faces?
We call upon the Prime Minister to put together the best team of international lawyers to sue Newsweek and CNN for defamation and publication of “fake news” to redeem not only his reputation, but our honour and pride.
After all, Dato’ Seri Najib Razak is well-known for going to the Court to protect his so-called reputation. I have been at the receiving end of two such defamation – one in 2014 and one in 2017 with regards to 1MDB, both of which are still undergoing the legal process.
At the very least, the Prime Minister’s lawyer, Datuk Hafarizam Harun should inform both Newsweek and CNN that Dato’ Seri Najib Razak is open to an apology. He has offered me the same option just two days ago, claiming that the Prime Minister “is open-minded and would accept an 'I am sorry Mr Prime Minister'” in order for a legal settlement to be reached.
However, if Dato’ Seri Najib Razak doesn’t even have the courage to salvage his reputation and credibility internationally by suing Newsweek and CNN, then the entire world would only be convinced that he is guilty as charged. In which case, there would of course be absolutely no reason for me to offer Dato’ Seri Najib Razak any apology for pretty much saying the same things.
Monday, September 04, 2017
Najib’s admission that the Government would be dysfunctional if not for GST is a direct admission of Barisan Nasional's dismal failure in financial management
The Prime Minister, Dato’ Seri Najib Razak told the crowd at the TN50 dialogue with women yesterday that without the GST the Government would have collapsed financially, and hence Malaysians should be thankful that the he has implemented the GST.
"I am not kidding you, I am not fooling you. I am the minister of finance, I know if we minus RM42 billion from the country's revenue, you will be in a standstill and the government will be dysfunctional.
Dato’ Seri Najib further added, “You can only spend whatever money you have. You will be in deep trouble if you have to borrow money from 'Ah Long' (loan sharks).”
The Prime Minister could not be more wrong on two counts.
Firstly, why is it that a country like Malaysia which is blessed and rich with income from natural resources suddenly so desperately dependent on GST revenue after 60 years of independence?
Without the GST, Federal Government revenue has increased consistently from RM123.5 billion in 2006 to RM185.4 billion (2011) to RM219.1 billion in 2015. The above represents a 77.4% increase in revenue in the 10 years before the GST was implement, or an annual compounded growth rate of 6.5% - well above the average annual GDP growth rate.
If during those years, the BN government has consistently boasted of strong economic growth and development – why is Dato’ Seri Najib now crying out loud that the Malaysian government would suddenly collapse without the GST?
The above itself debunked the Prime Minister’s second claim that we “will be in deep trouble if [we] have to borrow money from ‘Ah Long’.
The very reason why the BN government is forced to implement the GST today to collect more taxes is precisely because we have indeed borrowed heavily over the past decade.
Our Federal Government debt has increased from RM306.4 billion in 2008 to RM655.7 billion by the end of 2016. Hence the government’s debt increase of 114% far outstrips the revenue increase of 77%!
In the language of the Prime Minister, it is precisely because the reckless BN government has borrowed from the Ah Longs that Malaysians are now forced to bear the heavy burden of the GST.
The next question to ask is, why has the BN government borrowed so much and where have all the money gone?
The answer is simple – waste, corruption and kleptocracy in the BN administration as epitomised by the 1MDB scandal which will cost the Malaysian tax-payers at least RM42 billion. While 1MDB headlines the extent of the graft and abuse of power in the Najib-led government, it is by no means the only significant scandal under the BN administration. Annual Auditor-General reports over the past decades lay bare the malaise in the entire government machinery with nausea-inducing details of leakages, mismanagement and misappropriation.
This brings the inevitable conclusion that while the GST might rescue the BN administration for the time-being, it merely papers over the symptoms of the cancer afflicting our country. Until such a time where the brazen culture of waste, corruption and kleptocracy is eradicated from the Malaysian government, no matter how much new taxes revenue the GST (or any other new taxes) generate, it will never be enough.
As the Malay proverb goes, “besar periuk, lagi besar keraknya”.
"I am not kidding you, I am not fooling you. I am the minister of finance, I know if we minus RM42 billion from the country's revenue, you will be in a standstill and the government will be dysfunctional.
Dato’ Seri Najib further added, “You can only spend whatever money you have. You will be in deep trouble if you have to borrow money from 'Ah Long' (loan sharks).”
The Prime Minister could not be more wrong on two counts.
Firstly, why is it that a country like Malaysia which is blessed and rich with income from natural resources suddenly so desperately dependent on GST revenue after 60 years of independence?
Without the GST, Federal Government revenue has increased consistently from RM123.5 billion in 2006 to RM185.4 billion (2011) to RM219.1 billion in 2015. The above represents a 77.4% increase in revenue in the 10 years before the GST was implement, or an annual compounded growth rate of 6.5% - well above the average annual GDP growth rate.
If during those years, the BN government has consistently boasted of strong economic growth and development – why is Dato’ Seri Najib now crying out loud that the Malaysian government would suddenly collapse without the GST?
The above itself debunked the Prime Minister’s second claim that we “will be in deep trouble if [we] have to borrow money from ‘Ah Long’.
The very reason why the BN government is forced to implement the GST today to collect more taxes is precisely because we have indeed borrowed heavily over the past decade.
Our Federal Government debt has increased from RM306.4 billion in 2008 to RM655.7 billion by the end of 2016. Hence the government’s debt increase of 114% far outstrips the revenue increase of 77%!
In the language of the Prime Minister, it is precisely because the reckless BN government has borrowed from the Ah Longs that Malaysians are now forced to bear the heavy burden of the GST.
The next question to ask is, why has the BN government borrowed so much and where have all the money gone?
The answer is simple – waste, corruption and kleptocracy in the BN administration as epitomised by the 1MDB scandal which will cost the Malaysian tax-payers at least RM42 billion. While 1MDB headlines the extent of the graft and abuse of power in the Najib-led government, it is by no means the only significant scandal under the BN administration. Annual Auditor-General reports over the past decades lay bare the malaise in the entire government machinery with nausea-inducing details of leakages, mismanagement and misappropriation.
This brings the inevitable conclusion that while the GST might rescue the BN administration for the time-being, it merely papers over the symptoms of the cancer afflicting our country. Until such a time where the brazen culture of waste, corruption and kleptocracy is eradicated from the Malaysian government, no matter how much new taxes revenue the GST (or any other new taxes) generate, it will never be enough.
As the Malay proverb goes, “besar periuk, lagi besar keraknya”.
Monday, August 14, 2017
UMNO Sec-Gen Tengku Adnan Tengku Mansor should learn that while perception problems are often fixable, facts on the other hand, can’t be faked
UMNO secretary-general Tengku Adnan Tengku Mansor said that Barisan Nasional must counter the perception created by the Opposition on 1Malaysia Development Bhd (1MDB) to win back the state, said.
He claimed the 1MDB issue had been solved, and UMNO now must fix the wrong perception that the Opposition had created.
"The 1MDB issue has been solved. The bad perception was created (by the opposition) to confuse the voters. So, Umno has to step in to clear the confusion," he said after opening the Petaling Jaya Utara UMNO division meeting yesterday morning.
If only UMNO and BN’s problems in Selangor were merely as simple as “perception”. Indeed, if that was the only problem with 1MDB, it would have been extremely easy to fix.
The challenge for UMNO-BN, if Tengku Adnan hasn’t realised by now, isn’t a mere problem of perception. It is the problem that their attempts fake facts have gained no traction, especially in Selangor where the thinking electorate do not fall, hook, line and sinker for BN’s lies.
The people of Selangor, what more in Petaling Jaya Utara, can see with their own eyes not how the Prime Minister, Dato’ Seri Najib Razak and 1MDB is hiding themselves from “sensitive” questions about the RM50 billion monster scandal.
Why else would the Speaker of Parliament reject nearly all questions with regards to 1MDB even as innocuous as seeking to know the current value of 1MDB’s ‘unit’ investments previously held with the now-defunct BSI Bank in Singapore?
Why else would the Prime Minister not answer as to why is it that the Attorney-General, Tan Sri Apandi Ali claimed that the charges laid out in the United States Department of Justice (US DOJ) were “politically motivated”?
It also isn’t a question of perception when 1MDB repeatedly failed to fulfil its obligations to repay its agreed instalment to Abu Dhabi’s International Petroleum Investment Corporation (IPIC) amounting to billions of ringgit.
The people of Selangor are not so dumb as to not be able to see the fact 1MDB has suffered billions of ringgit of losses, as a result of a kleptocratic BN administration which will lead to Malaysians footing the RM42 billion 1MDB bill.
They can read between the lines when the Prime Minister failed to deny or explain the US$732 million which were deposited into his personal bank account in Ambank since the US DOJ exposed that the funds originated from 1MDB. They can also deduce intelligently when his wife, Datin Seri Rosmah Mansor, failed to explain or deny her acquisition of a US$27.3 million 22-carat pink diamond ring/necklace after the latest allegations by the DOJ.
Hence the biggest problem the BN administration faces isn’t a question of perception. The biggest 1MDB problem facing BN is the people are staring at the bare indisputable facts which the BN leaders are only trying to sweep under the carpet.
Most importantly, we are confident that the people of Selangor will support the Pakatan Harapan coalition comprising of Bersatu, Amanah, PKR and DAP and reject all other parties who fail to crusade against the single largest case of robbery and kleptocracy in the history of Malaysia.
He claimed the 1MDB issue had been solved, and UMNO now must fix the wrong perception that the Opposition had created.
"The 1MDB issue has been solved. The bad perception was created (by the opposition) to confuse the voters. So, Umno has to step in to clear the confusion," he said after opening the Petaling Jaya Utara UMNO division meeting yesterday morning.
If only UMNO and BN’s problems in Selangor were merely as simple as “perception”. Indeed, if that was the only problem with 1MDB, it would have been extremely easy to fix.
The challenge for UMNO-BN, if Tengku Adnan hasn’t realised by now, isn’t a mere problem of perception. It is the problem that their attempts fake facts have gained no traction, especially in Selangor where the thinking electorate do not fall, hook, line and sinker for BN’s lies.
The people of Selangor, what more in Petaling Jaya Utara, can see with their own eyes not how the Prime Minister, Dato’ Seri Najib Razak and 1MDB is hiding themselves from “sensitive” questions about the RM50 billion monster scandal.
Why else would the Speaker of Parliament reject nearly all questions with regards to 1MDB even as innocuous as seeking to know the current value of 1MDB’s ‘unit’ investments previously held with the now-defunct BSI Bank in Singapore?
Why else would the Prime Minister not answer as to why is it that the Attorney-General, Tan Sri Apandi Ali claimed that the charges laid out in the United States Department of Justice (US DOJ) were “politically motivated”?
It also isn’t a question of perception when 1MDB repeatedly failed to fulfil its obligations to repay its agreed instalment to Abu Dhabi’s International Petroleum Investment Corporation (IPIC) amounting to billions of ringgit.
The people of Selangor are not so dumb as to not be able to see the fact 1MDB has suffered billions of ringgit of losses, as a result of a kleptocratic BN administration which will lead to Malaysians footing the RM42 billion 1MDB bill.
They can read between the lines when the Prime Minister failed to deny or explain the US$732 million which were deposited into his personal bank account in Ambank since the US DOJ exposed that the funds originated from 1MDB. They can also deduce intelligently when his wife, Datin Seri Rosmah Mansor, failed to explain or deny her acquisition of a US$27.3 million 22-carat pink diamond ring/necklace after the latest allegations by the DOJ.
Hence the biggest problem the BN administration faces isn’t a question of perception. The biggest 1MDB problem facing BN is the people are staring at the bare indisputable facts which the BN leaders are only trying to sweep under the carpet.
Most importantly, we are confident that the people of Selangor will support the Pakatan Harapan coalition comprising of Bersatu, Amanah, PKR and DAP and reject all other parties who fail to crusade against the single largest case of robbery and kleptocracy in the history of Malaysia.
Tuesday, July 25, 2017
Yes, Dato’ Seri Najib Razak, the Opposition blew up 1MDB issues to topple the Government because we are now a world-renown kleptocracy
For the local and foreign investors listening to the Prime Minister’s speech when opening the InvestMalaysia 2017 conference, it must have been an utterly surreal experience.
While he acknowledged that there “were lapses in 1MDB's governance”, and he had “personally given instructions for a rationalisation of the company's operations”, he denied culpability and even blamed the Opposition for fanning the flames.
"But let's not forget that while there were issues in 1MDB, certain politicians blew them out of proportion, and tried to sabotage the company, in an attempt to topple the government in between election cycles,” he said.
In a parallel development, the opening of the mid-year Parliamentary sitting this week saw more than 30 questions thrown out for utterly bizzare and frivolous reasons.
My question on the current value of the 1MDB “units” investment and who is the custodian bank was rejected because they apparently contained questionable assumptions (“sangkaan”) and were a figment of my imagination (“buah fikiran”).
My question on whether the Attorney-General had investigated the claims made in the latest United States Department of Justice (US DOJ) suit to seize up to US$1.7 billion worth of launder assets from 1MDB funds was similarly and incomprehensibly rejected because it was deemed a “sangkaan”.
I had a total of 5 questions relating to 1MDB which were rejected.
The investors on the floor would have loved an opportunity to ask the the Prime Minister, if he had indeed done no wrong, why would he not just give simple answers to the simple questions above?
In fact, Malaysians would also like to know why Dato’ Seri Najib Razak only has the courage to deliver his “defence” of 1MDB with a straight face to an audience without a opportunity to raise questions, and refused over the past 5 years to address the Parliament?
In fact, the Prime Minister would have had the best opportunity to make the Opposition look like complete idiots if it were true that the latter was blowing the issue “out of proportion”.
What’s more, Malaysians would also like to know why Dato’ Seri Najib Razak has refused to comment on the origins of the US$731 million which was deposited into in personal bank account in Malaysia since the anti-kleptocracy action was filed in July last year by the US DOJ?
How about the latest expose last month where the US DOJ also discovered that a 22-carat pink diamond necklace cum ring was purchased by the Prime Minister’s wife for US$27.3 million with money traced back to the sums deposited in his personal bank account? Why haven’t the Prime Minister or the wife refuted the above “discovery”?
What’s more, while the Prime Minister wants to take credit to initiating investigations into the 1MDB fiasco, he failed to highlight the fact that he replaced the Public Accounts Committee Chairman with Dato’ Hassan Ariffin who refused to summon the Prime Minister for questioning because he had to “cari makan”. The Prime Minister also ‘retired’ an Attorney-General who was about to prosecute him and he refused to instruct 1MDB to comply fully with the Auditor-General after the company failed to provide any of its overseas bank records and statements for audit.
Let us make it clear that the Opposition did not sabotage 1MDB. The Prime Minister and the 1MDB top management did the sabotaging by carrying out misappropriations exceeding US$5.7 billion (RM25 billion) resulting in the company failing to meet its debt obligations.
However, we are in agreement with the Prime Minister that we are indeed fanning the single largest financial scandal in the history of Malaysia. This is in order to topple his disgraced administration, which has become a renown kleptocracy in the eyes of the world.
The investment community are not gullible fools who would believe the naked emperor. Their confidence in the country will only be returned when a new clean and competent government gets elected by 2018.
Dato’ Seri Azalina Othman’s denial of a massive parliamentary cover up over 1MDB questions by the Speaker has no credibility whatsoever.
Opposition Members of Parliament were in a state of shock yesterday upon taking our seats at the start of the second sitting this year. More than 30 questions, all of which concerns the single largest financial scandal ever to hit Malaysia, 1MDB were rejected by the House Speaker.
While some of our athletes are making inroads overseas and breaking new records, Tan Sri Pandikar Amin is determined not to be left out of the party. The Guiness Book of Records of Malaysia must take note of the sheer incredible scale of rejection of parliamentary questions in a single sitting.
I myself had 5 questions rejected – possibly an individual parliamentary record in itself.
The opposition uproar was met with an ‘official’ denial by the Minister in-charge of parliamentary affairs, Dato’ Seri Azalina Othman who described the “cover-up” allegations as “utterly baseless”. The fact that a member of the executive, who is an interested party in the scandal, had to step forward to defend the Speaker who is supposed to be impartial in the running of the august House speaks volumes.
Dato’ Seri Azalina even had the cheek to reprimand the Opposition MPs and asked them to “give precedence to issues that concern people under their respective constituencies”.
The blinkered Minister obviously doesn’t realise that my constituents voted for me overwhelmingly not because I spend my time debating about drains and potholes in my constituency – although those problems are dealt with by my office with the local council. They gave me a very specific mandate to not only check a corrupt and kleptocratic government, but also to expose all the wrong-doings of those who are in power.
In fact, as an MP who achieved the second highest majority in the country with 45,000 votes in the last general election, my constituents believe that their livelihood would be much better – less debt, better exchange rates and lower cost of living, if I succeed in throwing out the corrupt BN administration in the next round.
The Minister had argued that our questions were “against the Dewan Rakyat Standing Orders”.
As an example, let me ask the Minister, how the following rejected question was “against the Dewan Rakyat Standing Orders”.
I had asked the Minister of Finance to
“menyatakan baki nilai terkini pelaburan ‘unit’ yang dimiliki oleh anak syarikat 1MDB, Brazen Sky Limited dan nama institusi bank atau kewangan yang kini menjadi ‘custodian’ kepada pelaburan tersebut”.
The Speaker had rejected the above question on the pretext of presumably questionable assumption (“sangkaan”) and a figment of my imagination (“buah fikiran”).
The Finance Ministers as well as 1MDB itself have openly stated that the company had investments in the form of “units” held with a “custodian bank” previously valued at US$2.3 billion, of which a substantial portion has apparently been redeemed.
Hence where is the “sangkaan” or “buah fikiran” in the above question when I was only asking what is the current asset value as well as which custodian bank was holding the “units”?
Instead, ironically, it is the refusal of the Speaker to approve and the Minister to answer the question that leads to a reasonable “sangkaan” that the “units” are fraudulent or are of minimal value, and perhaps there is no longer any “custodian bank”!
Tan Sri Pandikar Amin has unquestionably and possibly irreversibly condemned the Parliament into a kangaroo sitting. Instead of leaving a legacy of reform which will lead us to the heights of a first world parliament, he has now disgraced the highest legislative institution of the land.
Tuesday, April 11, 2017
I stand by the video comments I have made which have purportedly defamed the honourable Prime Minister
I have received a letter of demand from the Prime Minister, Dato’ Seri Najib Razak, served by his lawyers from Hafarizam Wan & Aisha Mubarak who brought along TV3 to my office in Petaling Jaya yesterday evening.
The letter demanded that I retract the statement, remove the video, publicly apologise to the Prime Minister and pay an amount of compensation to be agreed upon within 7 days.
I have reviewed the 5-minute video published on 6 April 2017 and I hereby state that I will standby the comments I have made. Hence I will neither retract the statement, remove the video, publicly apologise to the Prime Minister nor offer to pay any amount of compensation to Dato’ Seri Najib Razak.
This is simply because the statements which I have made are grounded on established facts which have not been disputed.
The Sarawak Report and the Wall Street Journal first made the allegation that US$681 million originating from 1MDB, a wholly-owned subsidiary of the Ministry of Finance found its way into Dato’ Seri Najib Razak’s personal bank account with Ambank Malaysia. This was subsequently confirmed in evidential documents produced by the United States Department of Justice (US DOJ). In fact, the US DOJ pointed out in their legal filings that the total amount originating from 1MDB and surfaced in the Prime Minister’s bank account was US$731 million.
It should be noted that Dato’ Seri Najib Razak has never publicly disputed or denied the facts presented by the US DOJ since July 2016.
In addition, the US DOJ has labelled Malaysia as a kleptocracy. The Dictionary.com definition of “kleptocracy” is “a government or state in which those in power exploit national resources and steal; rule by a thief or thieves”.
Despite the reputational damage inflicted on Malaysia as a result of US DOJ’s suit to seize assets worth approximately US$1 billion acquired with laundered funds originating from 1MDB, the Prime Minister and his Government has refused respond to the highly detrimental allegations.
In fact, the Prime Minister has steadfastly refused to clarify and respond to the matter in Parliament, despite repeated request by Members of Parliament to do so.
What’s more, I have also outlined all the facts and evidence of the above misconduct and more, in my civil suit against the Prime Minister for public misfeasance filed in January this year. Dato’ Seri Najib Razak doesn’t even have to sue me a second time, he just needs to answer to the charges I have made in my suit to debunk any “fake news” which have purportedly damaged his reputation. Instead, he has chosen to try to strike out my suit with a mind-boggling defense that he “is not a public officer” and hence cannot be subjected to a public misfeasance suit.
Hence, I can only interpret the Prime Minister’s latest letter of demand, the second I have received from him, is an attempt not to right a wrong, but to silence the truth.
Just as I never stopped exposing, highlighting and questioning the RM50 billion ringgit 1MDB scandal despite being sued for defamation the first time round in March 2015, I will not be intimidated or frightened from continuing to do the same.
It is my fervent believe that not only my voters who voted me into office, but an overwhelming majority of Malaysians cannot accept a kleptocratic administration or a Prime Minister who stole billions from the rakyat. Therefore, I will doggedly persist and persevere in fighting the democratic cause to free Malaysia from such evils and disease.
The letter demanded that I retract the statement, remove the video, publicly apologise to the Prime Minister and pay an amount of compensation to be agreed upon within 7 days.
I have reviewed the 5-minute video published on 6 April 2017 and I hereby state that I will standby the comments I have made. Hence I will neither retract the statement, remove the video, publicly apologise to the Prime Minister nor offer to pay any amount of compensation to Dato’ Seri Najib Razak.
This is simply because the statements which I have made are grounded on established facts which have not been disputed.
The Sarawak Report and the Wall Street Journal first made the allegation that US$681 million originating from 1MDB, a wholly-owned subsidiary of the Ministry of Finance found its way into Dato’ Seri Najib Razak’s personal bank account with Ambank Malaysia. This was subsequently confirmed in evidential documents produced by the United States Department of Justice (US DOJ). In fact, the US DOJ pointed out in their legal filings that the total amount originating from 1MDB and surfaced in the Prime Minister’s bank account was US$731 million.
It should be noted that Dato’ Seri Najib Razak has never publicly disputed or denied the facts presented by the US DOJ since July 2016.
In addition, the US DOJ has labelled Malaysia as a kleptocracy. The Dictionary.com definition of “kleptocracy” is “a government or state in which those in power exploit national resources and steal; rule by a thief or thieves”.
Despite the reputational damage inflicted on Malaysia as a result of US DOJ’s suit to seize assets worth approximately US$1 billion acquired with laundered funds originating from 1MDB, the Prime Minister and his Government has refused respond to the highly detrimental allegations.
In fact, the Prime Minister has steadfastly refused to clarify and respond to the matter in Parliament, despite repeated request by Members of Parliament to do so.
What’s more, I have also outlined all the facts and evidence of the above misconduct and more, in my civil suit against the Prime Minister for public misfeasance filed in January this year. Dato’ Seri Najib Razak doesn’t even have to sue me a second time, he just needs to answer to the charges I have made in my suit to debunk any “fake news” which have purportedly damaged his reputation. Instead, he has chosen to try to strike out my suit with a mind-boggling defense that he “is not a public officer” and hence cannot be subjected to a public misfeasance suit.
Hence, I can only interpret the Prime Minister’s latest letter of demand, the second I have received from him, is an attempt not to right a wrong, but to silence the truth.
Just as I never stopped exposing, highlighting and questioning the RM50 billion ringgit 1MDB scandal despite being sued for defamation the first time round in March 2015, I will not be intimidated or frightened from continuing to do the same.
It is my fervent believe that not only my voters who voted me into office, but an overwhelming majority of Malaysians cannot accept a kleptocratic administration or a Prime Minister who stole billions from the rakyat. Therefore, I will doggedly persist and persevere in fighting the democratic cause to free Malaysia from such evils and disease.
Monday, March 20, 2017
Open Letter by Tony Pua, DAP National Publicity Secretary and Member of Parliament for Petaling Jaya Utara to Second Finance Minister, Dato’ Seri Johari Abdul Ghani on Tuesday, 20 March 2017
Dear Minister,
Thank you so much for your Open Letter addressed to me which was issued yesterday. I am not sure whether I should be honoured to have received such a letter from a Minister for the very first time in my 9 years as a Member of Parliament.
Dato’,
You are extremely unhappy apparently because I called you a “liar” and accused you of “covering up for the Prime Minister”. I checked my facts again and I’m more than happy to stand by my accusations.
Earlier this year, you told the media repeatedly that the Finance Ministry (MOF) would not take over any of the 1MDB’s debts. This was a specific response to my question raised in mid-January as to whether the MOF took over 1MDB’s RM800 million loan from SOCSO and RM2.4 billion sukuk.
It was only when I received the convoluted parliamentary reply in the current sitting, I could conclude that MOF did indeed take over these debts. The sad thing about the reply from the Minister of Finance was that it was clearly written in a way to obfuscate the truth.
You then dug a deeper hole for yourself by arguing that the RM3.2 billion of debt was an “operating debt” belonging to 1MDB’s wholly-owned subsidiary, 1MDB Real Estate (1MDB RE) and hence was not considered as 1MDB’s debt. I then said that “no Finance Minister worth his salt would argue that the ‘operating debts’ of a wholly-owned subsidiary does not belong to the parent company’s accounting books”.
I also proved with facts published in the Public Accounts Committee (PAC) Report, extracted from the Auditor-General’s (AG) report that more than 87% or RM2.8 billion of the RM3.2 billion of 1MDB RE borrowings never went towards the development of 1MDB’s real estate properties. Hence I asked why did the MOF not insist that these advances to 1MDB be repaid?
Dato’,
You then went on to tell an audience at a MIDF lunch talk that the Malaysian government couldn’t press charges against 1MDB personalities “without complete information”. You supported your claim by saying the the Auditor-General and the PAC could not point to anything specifically wrong with 1MDB.
Again, I pointed to specific sections of the PAC Report which clearly concluded that the 1MDB top management has on dozens of occasions – lied and misled the Board of Directors, defied the decisions of the Board or worse, acted without the Board’s authority, all of which are legal offences. The PAC even asked the authorities to investigate the CEO, Datuk Shahrol Halmi and other officers involved for the above wrongdoings. However, a year later, Datuk Shahrol Halmi remains comfortably as of today, a Director of PEMANDU agency in the Prime Minister’s Department.
You added in your letter that, “as far as the government is concerned, there is nothing to hide and nothing to cover up.” Then, I ask you, if so, why do you not propose for the Cabinet refusing to declassify the ‘harmless’ Auditor-General’s Report?
However, instead of answering all of the above questions, you ask me to “give it a rest”.
You opined that 1MDB is the most scrutinised entity by all enforcement agencies in Malaysia. However, you fail to also disclose that every single investigating agency was hampered and disrupted.
When the PAC announced that we were summoning Jho Low for questioning, the PAC Chairman was soon replaced by Datuk Hasan Arifin who promptly reversed the decision. Datuk Hasan, even responded that he has to “cari makan” when asked by the media if the Prime Minister would be summoned.
Despite the diligence of the Auditor-General’s Office, key documents such as 1MDB’s bank statements for its overseas subsidiaries were not handed over to the AG. Neither did Arul Kanda or Datuk Shahrol hand over many other documents they promised when requested by the PAC.
The biggest farce must be the “Super-Taskforce” investigating 1MDB comprising of the Attorney-General, the Inspector-General of Police, the MACC Chief Commissioner and the Bank Negara Governor set up by the Prime Minister himself. Did you forget that just as the then Attorney-General discovered shenanigans relating to the Prime Minister, he was promptly “retired” on spurious ‘health’ reasons? As if on queue, the new Attorney-General effectively dissolved the “Super-Taskforce” and even went to the extent of instructing the MACC to stop any further investigations on the matter.
Dato’,
You started your letter whining that you are merely working “serve the nation” by taking “positive and proactive” steps.
Perhaps let me gently remind you that there is a difference between ‘serving the nation’ and ‘serving the Prime Minister’, by covering up the scandal so that the truth gets swept under the carpet and the crooks get away scot-free.
Do you not realise that we are now a renown kleptocracy and how damaging that is for our country? Everyone who has taken an interest in the affairs of Malaysia knows from the documents presented by the United States Department of Justice and the Singapore Courts that US$731 million from 1MDB, found its way through dodgy investment funds and deceptive offshore companies into the personal bank account of Dato’ Seri Najib Razak.
Do you not think that to “serve the nation”, we must work to revive our heavily-tarnished global reputation? And do you not think that the only way we can remove the kleptocracy label from Malaysia is not by sweeping the truth under the carpet but instead ensure that the kleptocrats are charged and appropriately punished?
In fact, if you really want to take “positive and proactive steps” to help the nation, why haven’t you made a claim for the US$1 billion worth of assets being seized by the United States which were acquired with funds laundered and stolen from 1MDB? Why is the Government still keeping up the pretences that 1MDB did not lose these billions of dollars?
Dear Minister,
The above are just some of the many reasons why I won’t give the 1MDB issue a rest. The issue doesn’t deserve to be rested because you and your fellow Ministers have refused to answer simple questions and more importantly, the crooks who audaciously misappropriated more than US$5 billion are still at large.
Any elected representative with any sense of morality and integrity, who believes in protecting the interest of the man-on-the-street and who wants justice meted out to criminals who rob the country will never let the matter rest until the truth is found.
I am sure that my voters in Petaling Jaya Utara and all right-thinking Malaysians would overwhelmingly back my dogged persistence and relentless pursuit to ensure that Malaysia’s corrupt leaders and its kleptocratic government are made accountable for their crimes.
Thank you so much for your Open Letter addressed to me which was issued yesterday. I am not sure whether I should be honoured to have received such a letter from a Minister for the very first time in my 9 years as a Member of Parliament.
Dato’,
You are extremely unhappy apparently because I called you a “liar” and accused you of “covering up for the Prime Minister”. I checked my facts again and I’m more than happy to stand by my accusations.
Earlier this year, you told the media repeatedly that the Finance Ministry (MOF) would not take over any of the 1MDB’s debts. This was a specific response to my question raised in mid-January as to whether the MOF took over 1MDB’s RM800 million loan from SOCSO and RM2.4 billion sukuk.
It was only when I received the convoluted parliamentary reply in the current sitting, I could conclude that MOF did indeed take over these debts. The sad thing about the reply from the Minister of Finance was that it was clearly written in a way to obfuscate the truth.
You then dug a deeper hole for yourself by arguing that the RM3.2 billion of debt was an “operating debt” belonging to 1MDB’s wholly-owned subsidiary, 1MDB Real Estate (1MDB RE) and hence was not considered as 1MDB’s debt. I then said that “no Finance Minister worth his salt would argue that the ‘operating debts’ of a wholly-owned subsidiary does not belong to the parent company’s accounting books”.
I also proved with facts published in the Public Accounts Committee (PAC) Report, extracted from the Auditor-General’s (AG) report that more than 87% or RM2.8 billion of the RM3.2 billion of 1MDB RE borrowings never went towards the development of 1MDB’s real estate properties. Hence I asked why did the MOF not insist that these advances to 1MDB be repaid?
Dato’,
You then went on to tell an audience at a MIDF lunch talk that the Malaysian government couldn’t press charges against 1MDB personalities “without complete information”. You supported your claim by saying the the Auditor-General and the PAC could not point to anything specifically wrong with 1MDB.
Again, I pointed to specific sections of the PAC Report which clearly concluded that the 1MDB top management has on dozens of occasions – lied and misled the Board of Directors, defied the decisions of the Board or worse, acted without the Board’s authority, all of which are legal offences. The PAC even asked the authorities to investigate the CEO, Datuk Shahrol Halmi and other officers involved for the above wrongdoings. However, a year later, Datuk Shahrol Halmi remains comfortably as of today, a Director of PEMANDU agency in the Prime Minister’s Department.
You added in your letter that, “as far as the government is concerned, there is nothing to hide and nothing to cover up.” Then, I ask you, if so, why do you not propose for the Cabinet refusing to declassify the ‘harmless’ Auditor-General’s Report?
However, instead of answering all of the above questions, you ask me to “give it a rest”.
You opined that 1MDB is the most scrutinised entity by all enforcement agencies in Malaysia. However, you fail to also disclose that every single investigating agency was hampered and disrupted.
When the PAC announced that we were summoning Jho Low for questioning, the PAC Chairman was soon replaced by Datuk Hasan Arifin who promptly reversed the decision. Datuk Hasan, even responded that he has to “cari makan” when asked by the media if the Prime Minister would be summoned.
Despite the diligence of the Auditor-General’s Office, key documents such as 1MDB’s bank statements for its overseas subsidiaries were not handed over to the AG. Neither did Arul Kanda or Datuk Shahrol hand over many other documents they promised when requested by the PAC.
The biggest farce must be the “Super-Taskforce” investigating 1MDB comprising of the Attorney-General, the Inspector-General of Police, the MACC Chief Commissioner and the Bank Negara Governor set up by the Prime Minister himself. Did you forget that just as the then Attorney-General discovered shenanigans relating to the Prime Minister, he was promptly “retired” on spurious ‘health’ reasons? As if on queue, the new Attorney-General effectively dissolved the “Super-Taskforce” and even went to the extent of instructing the MACC to stop any further investigations on the matter.
Dato’,
You started your letter whining that you are merely working “serve the nation” by taking “positive and proactive” steps.
Perhaps let me gently remind you that there is a difference between ‘serving the nation’ and ‘serving the Prime Minister’, by covering up the scandal so that the truth gets swept under the carpet and the crooks get away scot-free.
Do you not realise that we are now a renown kleptocracy and how damaging that is for our country? Everyone who has taken an interest in the affairs of Malaysia knows from the documents presented by the United States Department of Justice and the Singapore Courts that US$731 million from 1MDB, found its way through dodgy investment funds and deceptive offshore companies into the personal bank account of Dato’ Seri Najib Razak.
Do you not think that to “serve the nation”, we must work to revive our heavily-tarnished global reputation? And do you not think that the only way we can remove the kleptocracy label from Malaysia is not by sweeping the truth under the carpet but instead ensure that the kleptocrats are charged and appropriately punished?
In fact, if you really want to take “positive and proactive steps” to help the nation, why haven’t you made a claim for the US$1 billion worth of assets being seized by the United States which were acquired with funds laundered and stolen from 1MDB? Why is the Government still keeping up the pretences that 1MDB did not lose these billions of dollars?
Dear Minister,
The above are just some of the many reasons why I won’t give the 1MDB issue a rest. The issue doesn’t deserve to be rested because you and your fellow Ministers have refused to answer simple questions and more importantly, the crooks who audaciously misappropriated more than US$5 billion are still at large.
Any elected representative with any sense of morality and integrity, who believes in protecting the interest of the man-on-the-street and who wants justice meted out to criminals who rob the country will never let the matter rest until the truth is found.
I am sure that my voters in Petaling Jaya Utara and all right-thinking Malaysians would overwhelmingly back my dogged persistence and relentless pursuit to ensure that Malaysia’s corrupt leaders and its kleptocratic government are made accountable for their crimes.
Saturday, February 11, 2017
Instead of making the Ministry of Communications and Multimedia the bastion of truth and integrity, Datuk Seri Salleh Keruak has made it the Ministry of Fake News and Miscommunications
There cannot be greater irony when the Minister of Communications and Multimedia, Datuk Seri Salleh Keruak warned in his blog exactly a month ago against posting “fake news”:
However, the Minister seems to have picked up a different lesson from the above analysis that he cited. It appears that the prevalence and popularity of “fake news” which helped President Trump with the American elections is the exact approach he would take to help Dato’ Seri Najib Razak defend his kleptocratic administration.
Two days ago, I have countered Datuk Seri Salleh’s attempt to shrivel 1MDB’s scandal into a peanut-sized RM1 million. The Minister even presented the alternative fact that 1MDB was in possession of RM51 billion in assets and hence is a healthy “going concern”.
I’ve detailed the Auditor-General’s findings that the Federal Government has guaranteed, directly and indirectly, RM39.8 billion of 1MDB’s monster debts of which the Ministry of Finance wholly-owned subsidiary has no ability to repay.
I’ve also cited the fact that even 1MDB’s auditors, Deloitte have renounced the 1MDB March 2013 financial statements which provided the RM51 billion asset figure. This was after various international agencies, including the US Department of Justice (DOJ) provided documents demonstrating that at least US$5.6 billion have been stolen and laundered from 1MDB via fraudulent transfers and fake companies.
Despite the Minister’s normally quick responses, Datuk Seri Salleh Keruak has failed to respond to the cited facts, much less provided any shred of evidence to counter the allegations.
Instead, the above only proved that the Minister has corrupted his position to become the official Ministry of Fake News and Miscommunications, consistent with many of his earlier statements defending the indefensible Prime Minister and 1MDB.
The award of the fakest news of all perpetrated by Datuk Seri Salleh Keruak has to be his continued insistence, even after the mountain of evidence presented by the US DOJ on US$731 million finding its way into Dato’ Seri Najib Razak’s personal bank account in Ambank, that “after comprehensive investigations by many authorities, it has been confirmed that the funds were a donation from the Royal Family of Saudi Arabia”.
The problem is, Datuk Seri Salleh Keruak is learning from the best, Nazi Hitler who wrote, “Make the lie big, make it simple, keep saying it, and eventually they will believe it.” The Minister presented not an iota of proof to continue asserting that the siphoned funds actually originated from “the Royal Family of Saudi Arabia”.
It is the sacred task and duty of all right-thinking Malaysians to stand up for the truth and defeat the ‘big lies’ of the Najib administration to protect our country from crooked dictators, and ensure that our children do not pay for our indifference.
I’ve said this before and I will say it again – verify before you vilify your source of news information. It is very unfortunate to know that many people still cling on to mistaken beliefs and theories that could even be decades old!
Fabricated news stories and irresponsible online news sources spread misinformation in order to mislead and/or make money when others click on the site or article. This makes fake news much more insidious than real news.
According to an analysis by BuzzFeed, a leading independent digital media company, hoaxes about the US politics were among the top-performing fake news content on Facebook in 2016. BuzzFeed News Media Editor, Craig Silverman said that twenty-three of the 50 top-performing fake news hoaxes found on Facebook, were focused on US politics.
However, the Minister seems to have picked up a different lesson from the above analysis that he cited. It appears that the prevalence and popularity of “fake news” which helped President Trump with the American elections is the exact approach he would take to help Dato’ Seri Najib Razak defend his kleptocratic administration.
Two days ago, I have countered Datuk Seri Salleh’s attempt to shrivel 1MDB’s scandal into a peanut-sized RM1 million. The Minister even presented the alternative fact that 1MDB was in possession of RM51 billion in assets and hence is a healthy “going concern”.
I’ve detailed the Auditor-General’s findings that the Federal Government has guaranteed, directly and indirectly, RM39.8 billion of 1MDB’s monster debts of which the Ministry of Finance wholly-owned subsidiary has no ability to repay.
I’ve also cited the fact that even 1MDB’s auditors, Deloitte have renounced the 1MDB March 2013 financial statements which provided the RM51 billion asset figure. This was after various international agencies, including the US Department of Justice (DOJ) provided documents demonstrating that at least US$5.6 billion have been stolen and laundered from 1MDB via fraudulent transfers and fake companies.
Despite the Minister’s normally quick responses, Datuk Seri Salleh Keruak has failed to respond to the cited facts, much less provided any shred of evidence to counter the allegations.
Instead, the above only proved that the Minister has corrupted his position to become the official Ministry of Fake News and Miscommunications, consistent with many of his earlier statements defending the indefensible Prime Minister and 1MDB.
The award of the fakest news of all perpetrated by Datuk Seri Salleh Keruak has to be his continued insistence, even after the mountain of evidence presented by the US DOJ on US$731 million finding its way into Dato’ Seri Najib Razak’s personal bank account in Ambank, that “after comprehensive investigations by many authorities, it has been confirmed that the funds were a donation from the Royal Family of Saudi Arabia”.
The problem is, Datuk Seri Salleh Keruak is learning from the best, Nazi Hitler who wrote, “Make the lie big, make it simple, keep saying it, and eventually they will believe it.” The Minister presented not an iota of proof to continue asserting that the siphoned funds actually originated from “the Royal Family of Saudi Arabia”.
It is the sacred task and duty of all right-thinking Malaysians to stand up for the truth and defeat the ‘big lies’ of the Najib administration to protect our country from crooked dictators, and ensure that our children do not pay for our indifference.
Wednesday, January 11, 2017
1MDB Foundation RM690 million spend: “corporate social responsibility” or reckless and irresponsible vote-buying for the BN administration?
1MDB has proudly announced that since 2010, its foundation has spent RM690 million into "worthy causes" which had benefited 2.8 million Malaysians through 60 projects in education, healthcare, youth development and community services.
"Examples of such activities can be found on the 1MDB website, ranging from Dana PIBG grants and academic grants to SPM and STPM students to academic grants for Sri Murugan Centre and Unified Examination Certificate holders, as well as Dana Belia 1Malaysia and 1Malaysia Mobile Clinics,” the company elaborated in its statement.
1MDB also emphasized that the funds were generated from “its legitimate business operations, formerly in energy production and more recently, in real estate development”.
1MDB’s generous spending in corporate social responsibility (CSR) appears to set the ultimate benchmark for all other companies to emulate. 1MDB’s statement and outsized CSR spend were clearly designed to enhance the perception of the state-owned firm as a benign and benevelont corporation, a stark contrast against its much maligned global reputation.
The only problem, and the crucial one, is that 1MDB never generated these cash from its businesses past and present.
For its “profitable” energy business, 1MDB borrowed extensively to acquire them for an overpriced RM12.1 billion. The borrowings were so big that the profits from the energy companies were insufficient to even service the interest of the relevant loans in the group, what more the principal.
As a result, 1MDB was “forced” to sell its energy business for RM9.83 billion, suffering a huge loss of RM2.27 billion.
However, at least 1MDB’s energy business was generating productive revenue. 1MDB’s real estate business never took off for the years in question. The land 1MDB acquired was alienated to 1MDB by the Federal Government at bargain basement prices. The company was sold undeveloped land to Tabung Haji and the Armed Forces Pension Fund (LTAT) group, who were cajoled into buying at astronomical prices. For example, LTAT subsidiary, Affin Bank paid RM4,500 per square feet for a piece of land in Tun Razak Exchange, when 1MDB acquired it from the Government at only RM64 per square feet.
What is vital to note is the fact that despite the sale of land at astronomical prices, 1MDB still cannot settle its outstanding debts that remains in excess of RM35 billion today.
As we have discovered via the Swiss Attorney-General Office and the United States Department of Justice, at least US$5 billion have been misappropriated from the 1MDB funds while more than US$730 million of the amount have found its way into the Prime Minister, Dato’ Seri Najib Razak’s personal bank account in Malaysia.
Hence effectively, 1MDB wasn’t executing its CSR programmes from its cash pile arising from the company’s profits. Instead, 1MDB was pretending to be a big profitable company, spending big on CSR via its mega-borrowings which it is now unable to service.
Worse, the burden of these loans are now dumped squarely on the shoulders of ordinary Malaysians who are forced to bailout 1MDB via the Federal Government. In short, we Malaysians are footing the bill, with interest, the money that 1MDB has so “generously” spent on us via its CSR programmes.
This leads to the conclusion that 1MDB is not the benign and benevolent entity it sought to portray but a recklessly irresponsible one causing greater hardship on the rakyat. And it did so with the clear intent to influence and “buy” votes for the general elections to prop up the corrupt Najib administration.
Friday, November 04, 2016
Ministerial replies in Parliament over the multi-billion dollar 1MDB scandal, when there were replies, has made a mockery of our august institution
When travelling overseas, Malaysians are now inundated with questions as to how Dato’ Seri Najib Razak remains firmly in power as the Prime Minister of Malaysia despite a few billion ringgit of funds which were misappropriated from a state owned investment firm finding its way into his personal account.
Foreigners are bewildered as to how our so-called democratic system could tolerate such unprecedented excesses.
The reason is simple. Our parliamentary institution is a mere facade whose sole existence is to lend legitimacy to those who wield the ultimate power. It is a pesky inconvenience which Dato’ Seri Najib Razak needs to tolerate to continue to present a semblance of a modern progressive nation.
When asked of the Prime Minister’s near total absence from Parliamentary sittings, the Honourable Speaker defended Dato’ Seri Najib Razak, claiming that the Prime Minister would have more important things to do than “to sit here and see the same face and then they (MPs) ask irrelevant questions”.
If even the Speaker of the House treats the elected Members of Parliaments with such contempt, little could be expected of the Ministers and Deputy Ministers who are left to respond to the obviously “irrelevant questions” from MPs.
Questions were asked about the actions taken by the Malaysian Anti-Corruption Commission pursuant the charges laid out by the United States Department of Justice (DOJ) to seize more than US$1 billion of assets laundered by Low Taek Jho and the Prime Minister’s stepson, Riza Aziz with funds misappropriated from 1MDB.
Deputy Minister in the Prime Minister’s Department, Datuk Razali Ibrahim responded that there is no need for the Malaysian Anti-Corruption Commission (MACC) to question Riza Aziz, the stepson of Prime Minister Najib Abdul Razak, as he is not being probed for graft..
"For the MACC, Riza is not under a corruption probe so there is no need for the MACC to summon him (for questioning)", he said.
And when MP for Bayan Baru, Sim Tze Tzin asked about DOJ’s allegations that Riza had bought luxury properties overseas with 1MDB funds, Razali audaciously replied, "what's wrong if people with lots of money buy things?"
Obviously the point that these funds were stolen from funds managed by the Government did not matter to the Minister.
Separately the MP for Puchong, Gobind Singh asked about the need to re-open MACC’s investigations into the billions of ringgit found in the Prime Minister’s personal bank account in the light of the DOJ filings. Datuk Razali Ibrahim astonishingly responded that the concluded MACC probe on Dato’ Seri Najib Abdul Razak's RM2.6 billion ‘donation’ did not look into the origins of the money.
"We (the MACC) were only looking into corruption, not where the money came from,” he said.
"We can't make assumptions about 1MDB, because of things in the US and Switzerland… They may be looking at the money trail, we only look at the question of corruption," he added while wrapping up his part of the Budget 2017 debate speech, focusing on the MACC and Felda.
The answer is as bizarre as it is dumbfounding. How can you rule out corruption if you fail to investigate the money trail? In fact, the admission by the Minister that MACC did not bother investigating the money trail to trace the origins of the funds which ended up in the Prime Minister’s accounts only goes to justify the call for MACC to re-open investigations because they have failed to perform their duties thoroughly and competently.
However, the fact that the Ministers can get away with such nonchalant and nonsensical replies in the highest legislative body of the land epitomises the collapse of Malaysia’s democratic institutions.
With a cabinet full of Ministers that know no shame, it explains why despite the severity and credibility of the corruption and embezzlement allegations against the Prime Minister, Dato’ Seri Najib Razak remains firmly in grip of power.
The only way to remove Dato’ Seri Najib Razak and the ruling Barisan Nasional, is via the ballot box, even if Malaysians have to overcome the unfair electoral system.
Foreigners are bewildered as to how our so-called democratic system could tolerate such unprecedented excesses.
The reason is simple. Our parliamentary institution is a mere facade whose sole existence is to lend legitimacy to those who wield the ultimate power. It is a pesky inconvenience which Dato’ Seri Najib Razak needs to tolerate to continue to present a semblance of a modern progressive nation.
When asked of the Prime Minister’s near total absence from Parliamentary sittings, the Honourable Speaker defended Dato’ Seri Najib Razak, claiming that the Prime Minister would have more important things to do than “to sit here and see the same face and then they (MPs) ask irrelevant questions”.
If even the Speaker of the House treats the elected Members of Parliaments with such contempt, little could be expected of the Ministers and Deputy Ministers who are left to respond to the obviously “irrelevant questions” from MPs.
Questions were asked about the actions taken by the Malaysian Anti-Corruption Commission pursuant the charges laid out by the United States Department of Justice (DOJ) to seize more than US$1 billion of assets laundered by Low Taek Jho and the Prime Minister’s stepson, Riza Aziz with funds misappropriated from 1MDB.
Deputy Minister in the Prime Minister’s Department, Datuk Razali Ibrahim responded that there is no need for the Malaysian Anti-Corruption Commission (MACC) to question Riza Aziz, the stepson of Prime Minister Najib Abdul Razak, as he is not being probed for graft..
"For the MACC, Riza is not under a corruption probe so there is no need for the MACC to summon him (for questioning)", he said.
And when MP for Bayan Baru, Sim Tze Tzin asked about DOJ’s allegations that Riza had bought luxury properties overseas with 1MDB funds, Razali audaciously replied, "what's wrong if people with lots of money buy things?"
Obviously the point that these funds were stolen from funds managed by the Government did not matter to the Minister.
Separately the MP for Puchong, Gobind Singh asked about the need to re-open MACC’s investigations into the billions of ringgit found in the Prime Minister’s personal bank account in the light of the DOJ filings. Datuk Razali Ibrahim astonishingly responded that the concluded MACC probe on Dato’ Seri Najib Abdul Razak's RM2.6 billion ‘donation’ did not look into the origins of the money.
"We (the MACC) were only looking into corruption, not where the money came from,” he said.
"We can't make assumptions about 1MDB, because of things in the US and Switzerland… They may be looking at the money trail, we only look at the question of corruption," he added while wrapping up his part of the Budget 2017 debate speech, focusing on the MACC and Felda.
The answer is as bizarre as it is dumbfounding. How can you rule out corruption if you fail to investigate the money trail? In fact, the admission by the Minister that MACC did not bother investigating the money trail to trace the origins of the funds which ended up in the Prime Minister’s accounts only goes to justify the call for MACC to re-open investigations because they have failed to perform their duties thoroughly and competently.
However, the fact that the Ministers can get away with such nonchalant and nonsensical replies in the highest legislative body of the land epitomises the collapse of Malaysia’s democratic institutions.
With a cabinet full of Ministers that know no shame, it explains why despite the severity and credibility of the corruption and embezzlement allegations against the Prime Minister, Dato’ Seri Najib Razak remains firmly in grip of power.
The only way to remove Dato’ Seri Najib Razak and the ruling Barisan Nasional, is via the ballot box, even if Malaysians have to overcome the unfair electoral system.
Thursday, November 03, 2016
Has Malaysia become the new rogue nation of this world?
Malaysia has always prided itself to be a progressive nation which built its foundations the principles of justice and moderation. Even before our own independence, we have always been on the on the right side of history, fighting the Axis powers during the World War II and was part of the coalition to halt the rise of communism in Southeast Asia.
Even during the worst of times during the Mahathir’s era of an authoritarian regime, we have never been regarded as a basket case like Cambodia, Burma, Iraq or God-forbid, North Korea.
Our leaders have been reasonably well-educated and speak with the right tones to ingratiate ourselves well in a world led by the United States, Europe and Japan. Even our current Prime Minister, Dato’ Seri Najib Razak had tried extremely hard to be part of international elite fraternity with his constant, albeit rhetorical preaching of the “global movement of moderates”.
Who can forget, how hard our Prime Minister tried to be buddies with President Obama and how proud he was when he had the rare opportunity to have a round of golf with the American President in Hawaii not too long ago in December 2014?
How quickly things have changed in less than 2 years.
In July this year, the United States Department of Justice (DOJ) has labelled Malaysia a kleptocracy, with the single largest seizure of assets purchased with funds laundered in the United States which were misappropriated from 1MDB. While Dato’ Seri Najib Razak was not an owner of the assets to be seized, the DOJ explicitly disclosed that he received US$731 million of these misappropriated funds in his personal bank account in Malaysia.
Despite the severity of the accusation by the US Attorney-General, Dato' Seri Najib has refused to deny the allegations and has chosen to remain silent.
Instead today, Dato’ Seri Najib Razak has decided that it is now in his best interest to pucker up to mighty China. After all, China doesn’t pass judgement on who they deal with, regardless of whether it’s a rogue nation like North Korea or a Western counterpart like United States. China’s investments for influence policy reaches out far and wide to third world countries all around the world, especially in Africa like, Nigeria, Sudan and Angola.
After the much-hyped promise of Middle-Eastern petrodollars-led investment boom in Malaysia failed to materialise, the Prime Minister is turning to Beijing to not only jumpstart our economy, but also to help him clean up his multi-billion dollar 1MDB mess.
It is one thing eschewing open tenders for mega-projects in the past to local Malaysian cronies of the ruling parties. Now, the Prime Minister has decided that we should eschew open tenders and award mega-projects at inflated prices like the RM55 billion East Coast Rail Link to Chinese state-owned companies without any tender, or even the pretence of one.
Dato’ Seri Najib has decided to award of the above project to China Communications Construction Company Limited at a price more than double the price per kilometer of rail ever awarded in Malaysia with borrowings from China’s Export-Import Bank. It is a clear attempt to siphon cash to payoff 1MDB’s outstanding debts, especially those embroiled with Abu Dhabi’s International Petroleum Investment Corporation.
In exchange, Dato’ Seri Najib yields to Chinese geo-political and economic supremacy. When the United Nations Arbitral Tribunal ruled that “there was no legal basis for China to claim historic rights to resources within the sea areas falling within the ‘nine-dash line” in South China Sea, Malaysia has strangely refused to endorse the ruling despite the fact that we are ourselves laying claims on parts of the Spratlys archipelago in the area.
Worse, Malaysia together with Cambodia, has frustrated the attempts by ASEAN nations to recognise the ruling which had resulted in a meaningless water-down statement with regards to the disputes in South China Sea.
Yesterday, as if to hammer the nail into the coffin, the Prime Minister wrote in his special column in China Daily chastising the West including the “former colonial powers”, that “it is not for them to lecture countries they once exploited on how to conduct their own internal affairs today.”
It is a not so subtle statement to tell these Western powers that how Malaysia is a kleptocracy today isn’t any of their business. If they are not happy with him, he is more than happy to embrace China, who couldn’t care less about how the Malaysian government leaders plunder the nation.
Dato’ Seri Najib Razak’s stand has much bigger implications to Malaysia than merely an attempt to play off one Superpower against another. The Prime Minister’s brazen foreign policy switch will lead Malaysia, intentionally or inadvertently, down the road of becoming a rogue nation, globally snubbed and internationally derided.
As basket cases like Burma, Vietnam or even Iran redeems themselves with greater rapprochement with the international communities, it is frightening that a Prime Minister, consumed with the need to save himself is taking actions which will lead us down the slippery slope.
Even during the worst of times during the Mahathir’s era of an authoritarian regime, we have never been regarded as a basket case like Cambodia, Burma, Iraq or God-forbid, North Korea.
Our leaders have been reasonably well-educated and speak with the right tones to ingratiate ourselves well in a world led by the United States, Europe and Japan. Even our current Prime Minister, Dato’ Seri Najib Razak had tried extremely hard to be part of international elite fraternity with his constant, albeit rhetorical preaching of the “global movement of moderates”.
Who can forget, how hard our Prime Minister tried to be buddies with President Obama and how proud he was when he had the rare opportunity to have a round of golf with the American President in Hawaii not too long ago in December 2014?
How quickly things have changed in less than 2 years.
In July this year, the United States Department of Justice (DOJ) has labelled Malaysia a kleptocracy, with the single largest seizure of assets purchased with funds laundered in the United States which were misappropriated from 1MDB. While Dato’ Seri Najib Razak was not an owner of the assets to be seized, the DOJ explicitly disclosed that he received US$731 million of these misappropriated funds in his personal bank account in Malaysia.
Despite the severity of the accusation by the US Attorney-General, Dato' Seri Najib has refused to deny the allegations and has chosen to remain silent.
Instead today, Dato’ Seri Najib Razak has decided that it is now in his best interest to pucker up to mighty China. After all, China doesn’t pass judgement on who they deal with, regardless of whether it’s a rogue nation like North Korea or a Western counterpart like United States. China’s investments for influence policy reaches out far and wide to third world countries all around the world, especially in Africa like, Nigeria, Sudan and Angola.
After the much-hyped promise of Middle-Eastern petrodollars-led investment boom in Malaysia failed to materialise, the Prime Minister is turning to Beijing to not only jumpstart our economy, but also to help him clean up his multi-billion dollar 1MDB mess.
It is one thing eschewing open tenders for mega-projects in the past to local Malaysian cronies of the ruling parties. Now, the Prime Minister has decided that we should eschew open tenders and award mega-projects at inflated prices like the RM55 billion East Coast Rail Link to Chinese state-owned companies without any tender, or even the pretence of one.
Dato’ Seri Najib has decided to award of the above project to China Communications Construction Company Limited at a price more than double the price per kilometer of rail ever awarded in Malaysia with borrowings from China’s Export-Import Bank. It is a clear attempt to siphon cash to payoff 1MDB’s outstanding debts, especially those embroiled with Abu Dhabi’s International Petroleum Investment Corporation.
In exchange, Dato’ Seri Najib yields to Chinese geo-political and economic supremacy. When the United Nations Arbitral Tribunal ruled that “there was no legal basis for China to claim historic rights to resources within the sea areas falling within the ‘nine-dash line” in South China Sea, Malaysia has strangely refused to endorse the ruling despite the fact that we are ourselves laying claims on parts of the Spratlys archipelago in the area.
Worse, Malaysia together with Cambodia, has frustrated the attempts by ASEAN nations to recognise the ruling which had resulted in a meaningless water-down statement with regards to the disputes in South China Sea.
Yesterday, as if to hammer the nail into the coffin, the Prime Minister wrote in his special column in China Daily chastising the West including the “former colonial powers”, that “it is not for them to lecture countries they once exploited on how to conduct their own internal affairs today.”
It is a not so subtle statement to tell these Western powers that how Malaysia is a kleptocracy today isn’t any of their business. If they are not happy with him, he is more than happy to embrace China, who couldn’t care less about how the Malaysian government leaders plunder the nation.
Dato’ Seri Najib Razak’s stand has much bigger implications to Malaysia than merely an attempt to play off one Superpower against another. The Prime Minister’s brazen foreign policy switch will lead Malaysia, intentionally or inadvertently, down the road of becoming a rogue nation, globally snubbed and internationally derided.
As basket cases like Burma, Vietnam or even Iran redeems themselves with greater rapprochement with the international communities, it is frightening that a Prime Minister, consumed with the need to save himself is taking actions which will lead us down the slippery slope.
Saturday, September 03, 2016
Tan Sri Khalid Abu Bakar proven as the most incompetent and irresponsible Inspector-General of Police in Malaysian history
The Minister of the Prime Minister’s Department, Datuk Seri Abdul Rahman Dahlan has now officially confirmed that the “Malaysian Official One” (MO1) named in the United States Department of Justice suit to seize more than US$1 billion of 1MDB-funded assets, is none other than Dato’ Seri Najib Razak.
MO1 has been identified as the party who has received proceeds amounting to US$731 million between 2011 and 2013 which were laundered by parties who have defrauded 1MDB.
With the confirmation by Datuk Seri Rahman Dahlan, Malaysians who have just celebrated our 59th Merdeka anniversary in the most subdued manner, would have hoped that the relevant authorities will finally commence actions against the Prime Minister, albeit belatedly.
However, all such hopes were immediately extinguished by Tan Sri Khalid Abu Bakar, who gave the most incredulous and most unacceptable excuse as to why there will be no action against Dato’ Seri Najib Razak. This is inspite of the irrefutable and unrefuted evidence which has been presented by the US DOJ to the whole wide world.
“I've said this before: that whatever action taken in the US is a civil action. We don't get involved in civil suits. I don’t want to meddle in political matters. Don't drag us into politics,” he said.
How in the world is it “politics” when Malaysians ask Tan Sri Khalid Abu Bakar to investigate the “world’s largest financial scandal” which has enriched Dato’ Seri Najib Razak’s bank account by a mind-boggling US$731 million or nearly RM3 billion based on today’s exchange rates?
In fact, if there is anyone indulging in politics, it is the IGP himself, who is clearly acting to protect the Prime Minister incriminated of grand larceny and support the Barisan Nasional ruling party. The IGP is failing Malaysians by failing to act without fear or favour against all criminals, regardless of their status and positions.
Tan Sri Khalid had further added that “Let them (the US) solve the civil action. Why are you so nosy wanting the police to investigate this and that,” at a press conference at the Bukit Aman police headquarters today.
The IGP should be thoroughly ashamed of himself for dismissing the US action as a mere “civil action”. It is disgraceful that Malaysians now have to rely on the impartiality of foreign jurisdictions to recover billions of dollars stolen and laundered from Malaysians via fraudulent means in 1MDB.
Instead of springing belatedly into action to salvage Malaysia’s pride and honour, the IGP appears to be conspiring with the alleged crooks by feigning ignorance.
The US DOJ suit might be civil in nature as they were attempting to seize the laundered assets, but the allegations contained in the suit are completely criminal in nature.
Why is the police completely disinterested in investigating the fact that more than US$4 billion has been misappropriated by 1MDB and the fact that US$731 million has been pocketed by the Prime Minister? The IGP must answer as to how is such misappropriation and grand larceny not a crime under Malaysian laws?
Is not being “nosy” the job of the Malaysian police when it comes to criminal activities?
Tan Sri Khalid Abu Bakar’s clear cut abdication of his duties has marked himself as the most irresponsible and most incompetent in the history of Malaysia.
MO1 has been identified as the party who has received proceeds amounting to US$731 million between 2011 and 2013 which were laundered by parties who have defrauded 1MDB.
With the confirmation by Datuk Seri Rahman Dahlan, Malaysians who have just celebrated our 59th Merdeka anniversary in the most subdued manner, would have hoped that the relevant authorities will finally commence actions against the Prime Minister, albeit belatedly.
However, all such hopes were immediately extinguished by Tan Sri Khalid Abu Bakar, who gave the most incredulous and most unacceptable excuse as to why there will be no action against Dato’ Seri Najib Razak. This is inspite of the irrefutable and unrefuted evidence which has been presented by the US DOJ to the whole wide world.
“I've said this before: that whatever action taken in the US is a civil action. We don't get involved in civil suits. I don’t want to meddle in political matters. Don't drag us into politics,” he said.
How in the world is it “politics” when Malaysians ask Tan Sri Khalid Abu Bakar to investigate the “world’s largest financial scandal” which has enriched Dato’ Seri Najib Razak’s bank account by a mind-boggling US$731 million or nearly RM3 billion based on today’s exchange rates?
In fact, if there is anyone indulging in politics, it is the IGP himself, who is clearly acting to protect the Prime Minister incriminated of grand larceny and support the Barisan Nasional ruling party. The IGP is failing Malaysians by failing to act without fear or favour against all criminals, regardless of their status and positions.
Tan Sri Khalid had further added that “Let them (the US) solve the civil action. Why are you so nosy wanting the police to investigate this and that,” at a press conference at the Bukit Aman police headquarters today.
The IGP should be thoroughly ashamed of himself for dismissing the US action as a mere “civil action”. It is disgraceful that Malaysians now have to rely on the impartiality of foreign jurisdictions to recover billions of dollars stolen and laundered from Malaysians via fraudulent means in 1MDB.
Instead of springing belatedly into action to salvage Malaysia’s pride and honour, the IGP appears to be conspiring with the alleged crooks by feigning ignorance.
The US DOJ suit might be civil in nature as they were attempting to seize the laundered assets, but the allegations contained in the suit are completely criminal in nature.
Why is the police completely disinterested in investigating the fact that more than US$4 billion has been misappropriated by 1MDB and the fact that US$731 million has been pocketed by the Prime Minister? The IGP must answer as to how is such misappropriation and grand larceny not a crime under Malaysian laws?
Is not being “nosy” the job of the Malaysian police when it comes to criminal activities?
Tan Sri Khalid Abu Bakar’s clear cut abdication of his duties has marked himself as the most irresponsible and most incompetent in the history of Malaysia.
Monday, August 22, 2016
The Police’s ring-fenced investigations into 1MDB points to scapegoating former Director and CEO Datuk Shahrol Halmi for the multi-billion dollar scandal
The Inspector General of Police (IGP) Tan Sri Khalid Abu Bakar disclosed on Friday that the police have completed the first phase of their investigation into 1MDB, which is restricted to the five recommendations by the Public Accounts Committee (PAC) as ordered by the cabinet.
As pointed by DAP Parliamentary Leader, the “five recommendations” by the PAC has nothing to do with police investigations as they relate to corporate reorganisation of the heavily indebted company. For example, the PAC recommended that the 1MDB Board of Advisors be dissolved, that the Ministry of Finance assumes ownership of the property assets under the company and that 1MDB “should avoid excessive debt”.
The only request by the PAC in its report, which was not part of the five recommendations, was for 1MDB’s former Director and Chief Executive Officer, Datuk Shahrol Halmi and others who were involved to be investigated by the authorities.
This leads Malaysians to believe that the ring-fence imposed by the Cabinet and willingly accepted by the IGP, is nothing more than a strategy to place the entire blame for the multi-billion dollar scam on the shoulders of Datuk Shahrol Halmi.
It clearly appears that Datuk Shahrol will be made a scapegoat to ease the pressure on the Prime Minister, Dato’ Seri Najib Razak who has failed to take any concrete action at all against any party for the losses suffered in what the UK Guardian named as the “world’s largest financial scandal”.
The powers that be would certainly hope that with Datuk Shahrol’s incarceration, a mere pawn in the wider scheme of things, they would be able to wash their hands off the scandal and close the lid on the ugliest chapter of Malaysia’s history.
However, by doing so, the Police would once again make complete fools of themselves, no different from the Altantuya murder scandal in 2006. Chief Inspector Azilah Hadri, and Corporal Sirul Azhar Umar who were members of the elite Unit Tindakan Khas assigned to the office of the then Deputy Prime Minister Dato’ Najib Razak, were found guilty of murdering the Mongolian woman. However, no motive was ever presented by the police and the prosecution, or found by the Malaysian Courts when they were condemned to death sentences.
In 1MDB’s case, if only Datuk Shahrol were to be charged and found guilty, the similar question could be asked – what motive is there for Datuk Shahrol to carry out the multi-billion dollar global embezzlement exercise?
Datuk Shahrol, who was referred to as “1MDB Officer 2” in the US Department of Justice suit to seize US$1 billion of laundered 1MDB assets, was never disclosed as an individual beneficiary of the stolen funds.
The beneficiaries of the loot were Low Taek Jho, Riza Aziz, Khadem Al-Qubaisi and Mohammad Badawy Al-Husseiny. In addition, a “Malaysian Official 1” who could only refer to Dato’ Seri Najib Razak, received a whopping US$731 million from the embezzled proceeds.
I have no doubt that Datuk Shahrol is guilty of participating and facilitating in the massive scam to defraud ordinary Malaysians and should be charged for abetting the heinous crime. However, he is but a cog in the wheel of the 1MDB scandal. It will be the greatest travesty of justice, similar to the Altantuya murder, where the real conspirators and crooks who had benefited immensely from the crimes are let of scot free.
As pointed by DAP Parliamentary Leader, the “five recommendations” by the PAC has nothing to do with police investigations as they relate to corporate reorganisation of the heavily indebted company. For example, the PAC recommended that the 1MDB Board of Advisors be dissolved, that the Ministry of Finance assumes ownership of the property assets under the company and that 1MDB “should avoid excessive debt”.
The only request by the PAC in its report, which was not part of the five recommendations, was for 1MDB’s former Director and Chief Executive Officer, Datuk Shahrol Halmi and others who were involved to be investigated by the authorities.
This leads Malaysians to believe that the ring-fence imposed by the Cabinet and willingly accepted by the IGP, is nothing more than a strategy to place the entire blame for the multi-billion dollar scam on the shoulders of Datuk Shahrol Halmi.
It clearly appears that Datuk Shahrol will be made a scapegoat to ease the pressure on the Prime Minister, Dato’ Seri Najib Razak who has failed to take any concrete action at all against any party for the losses suffered in what the UK Guardian named as the “world’s largest financial scandal”.
The powers that be would certainly hope that with Datuk Shahrol’s incarceration, a mere pawn in the wider scheme of things, they would be able to wash their hands off the scandal and close the lid on the ugliest chapter of Malaysia’s history.
However, by doing so, the Police would once again make complete fools of themselves, no different from the Altantuya murder scandal in 2006. Chief Inspector Azilah Hadri, and Corporal Sirul Azhar Umar who were members of the elite Unit Tindakan Khas assigned to the office of the then Deputy Prime Minister Dato’ Najib Razak, were found guilty of murdering the Mongolian woman. However, no motive was ever presented by the police and the prosecution, or found by the Malaysian Courts when they were condemned to death sentences.
In 1MDB’s case, if only Datuk Shahrol were to be charged and found guilty, the similar question could be asked – what motive is there for Datuk Shahrol to carry out the multi-billion dollar global embezzlement exercise?
Datuk Shahrol, who was referred to as “1MDB Officer 2” in the US Department of Justice suit to seize US$1 billion of laundered 1MDB assets, was never disclosed as an individual beneficiary of the stolen funds.
The beneficiaries of the loot were Low Taek Jho, Riza Aziz, Khadem Al-Qubaisi and Mohammad Badawy Al-Husseiny. In addition, a “Malaysian Official 1” who could only refer to Dato’ Seri Najib Razak, received a whopping US$731 million from the embezzled proceeds.
I have no doubt that Datuk Shahrol is guilty of participating and facilitating in the massive scam to defraud ordinary Malaysians and should be charged for abetting the heinous crime. However, he is but a cog in the wheel of the 1MDB scandal. It will be the greatest travesty of justice, similar to the Altantuya murder, where the real conspirators and crooks who had benefited immensely from the crimes are let of scot free.
Saturday, August 20, 2016
Shocking: the Malaysian Police limits 1MDB investigations to Public Accounts Committee (PAC) “recommendations” under Cabinet instructions
The Inspector General of Police (IGP) Tan Sri Khalid Abu Bakar disclosed yesterday that the police have completed the first phase of their investigation into 1MDB, which is restricted to the five recommendations by the Public Accounts Committee (PAC) as ordered by the cabinet.
"I have said it before: the five recommendations from the PAC are our focus, so I do not want the police to be distracted from what was ordered for us to do, or else the focus of the investigation will deviate," he said.
First, how can the Cabinet give specific instructions to the Royal Malaysian Police on what crimes to investigate and what crimes not to investigate? Isn’t this tantamount to a clear cut case of obstruction of justice?
Secondly, how can the IGP limit police investigations to merely the 5 “recommendations” by the PAC?
Members of the PAC, especially those from Barisan Nasional will often insist in PAC meetings that the PAC is not a criminal investigation body and such investigations should be left to the relevant authorities, including the Police. Now, the Police has apparently be instructed to limit its investigations to the “recommendations” of the PAC, which was not based on a “criminal” investigation in the first place.
In fact, the Police should take cognizance that 1MDB has failed, despite repeated requests by both the PAC and the Auditor-General, to hand over its crucial overseas bank statements and verification documents. As a result, the PAC is unable to investigate the existence of wrongdoings in the state-owned investment company.
For example, the PAC could not verify the ownership of Good Star Limited which received US$1.03 billion from 1MDB as 1MDB could not provide any conclusive ownership documentation to the PAC. Furthermore, the PAC Chairman hid a Bank Negara Malaysia letter to the Committee which had disclosed that Good Star Limited was owned by none other than Low Taek Jho, or better known as Jho Low.
However, the expose by the United States Department of Justice (DOJ) on the multi-billion dollar embezzlement of 1MDB’s funds overseas should prompt the Police to obtain all relevant documents to ensure an unhindered and thorough criminal probe on the matter.
Hence Tan Sri Khalid Abu Bakar must explain to the Rakyat as to why he has refused to investigate the multi-billion dollar 1MDB embezzlement scandal which has taken the world by storm, by restricting itself to the limited findings of the PAC, purportedly under the instructions of the Cabinet?
Isn’t the Police supposed to investigate without fear or favour, even if it were to involve the highest officials of the land? Doesn’t Tan Sri Khalid realise that there is a severe conflict of interest in the purported Cabinet instruction to restrict the Police investigations because Cabinet members might be involved in the laundered funds?
For example, the DOJ has already cited that a “Malaysian Official 1”, whom even the Minister in the Prime Minister’s Department, Datuk Seri Rahman Dahlan admitted is Dato’ Seri Najib Razak, has received US$731 million of the laundered funds in his personal bank account in Malaysia. Who else has benefitted from these funds?
The failure of the IGP to conduct a no-stones-unturned investigations into the “world’s largest financial scandal” which has brought shame to Malaysia only serves to confirm the suspicions of ordinary Malaysians that Tan Sri Khalid Abu Bakar is colluding with the Prime Minister and his Cabinet colleagues to cover up the heinous scam which has defrauded the people of tens of billions of ringgit.
"I have said it before: the five recommendations from the PAC are our focus, so I do not want the police to be distracted from what was ordered for us to do, or else the focus of the investigation will deviate," he said.
First, how can the Cabinet give specific instructions to the Royal Malaysian Police on what crimes to investigate and what crimes not to investigate? Isn’t this tantamount to a clear cut case of obstruction of justice?
Secondly, how can the IGP limit police investigations to merely the 5 “recommendations” by the PAC?
Members of the PAC, especially those from Barisan Nasional will often insist in PAC meetings that the PAC is not a criminal investigation body and such investigations should be left to the relevant authorities, including the Police. Now, the Police has apparently be instructed to limit its investigations to the “recommendations” of the PAC, which was not based on a “criminal” investigation in the first place.
In fact, the Police should take cognizance that 1MDB has failed, despite repeated requests by both the PAC and the Auditor-General, to hand over its crucial overseas bank statements and verification documents. As a result, the PAC is unable to investigate the existence of wrongdoings in the state-owned investment company.
For example, the PAC could not verify the ownership of Good Star Limited which received US$1.03 billion from 1MDB as 1MDB could not provide any conclusive ownership documentation to the PAC. Furthermore, the PAC Chairman hid a Bank Negara Malaysia letter to the Committee which had disclosed that Good Star Limited was owned by none other than Low Taek Jho, or better known as Jho Low.
However, the expose by the United States Department of Justice (DOJ) on the multi-billion dollar embezzlement of 1MDB’s funds overseas should prompt the Police to obtain all relevant documents to ensure an unhindered and thorough criminal probe on the matter.
Hence Tan Sri Khalid Abu Bakar must explain to the Rakyat as to why he has refused to investigate the multi-billion dollar 1MDB embezzlement scandal which has taken the world by storm, by restricting itself to the limited findings of the PAC, purportedly under the instructions of the Cabinet?
Isn’t the Police supposed to investigate without fear or favour, even if it were to involve the highest officials of the land? Doesn’t Tan Sri Khalid realise that there is a severe conflict of interest in the purported Cabinet instruction to restrict the Police investigations because Cabinet members might be involved in the laundered funds?
For example, the DOJ has already cited that a “Malaysian Official 1”, whom even the Minister in the Prime Minister’s Department, Datuk Seri Rahman Dahlan admitted is Dato’ Seri Najib Razak, has received US$731 million of the laundered funds in his personal bank account in Malaysia. Who else has benefitted from these funds?
The failure of the IGP to conduct a no-stones-unturned investigations into the “world’s largest financial scandal” which has brought shame to Malaysia only serves to confirm the suspicions of ordinary Malaysians that Tan Sri Khalid Abu Bakar is colluding with the Prime Minister and his Cabinet colleagues to cover up the heinous scam which has defrauded the people of tens of billions of ringgit.
Saturday, August 13, 2016
Who is Datuk Johari Abdul Ghani trying to fool when he said the Government would act against those found guilty of wrongdoing in the US Department of Justice's 1MDB suit?
Finance Minister II Johari Abdul Ghani said the government will take legal action against the individuals named in the US Department of Justice's (DOJ) civil suit related to 1MDB, if they were found guilty of wrongdoing.
He even stressed that “there will be no two ways in dealing with this matter.”
The Finance Minister’s assertion must have been joking because the statement lacked any iota of credibility.
How is Datuk Johari expecting Malaysians and the international community to believe him when there has been a complete absence of outrage from the Najib administration on the DOJ suit which the Federal Bureau of Investigations claimed “the Malaysian people were defrauded on an enormous scale”.
The DOJ claimed that 1MDB officials and their associates stole more than $3.5 billion from the fund between 2009 and 2015 and laundered at least $1 billion through the US. The fund's officials tried to conceal the fund's origins through complex transactions that involved shell companies and bank accounts located in various countries.
Despite the enormity of the scam and scandal, the Malaysian Government has shown shocking indifference to the exposé. The Prime Minister, Dato’ Seri Najib Razak only took pains to emphasise that it is only a civil suit and it didn’t involve him.
This was despite the fact that the DOJ suit has highlighted that a “Malaysian Official 1” had received USD731 million from the embezzled funds. The “MO1” undeniably referred to Dato’ Seri Najib Razak. In fact, the Minister in the Prime Minister’s Department, Dato Seri Rahman Dahlan even said that “only an idiot don't know who MO1 is”.
Despite all of the above substantiated allegations made by the DOJ, there have been no concrete actions taken by Malaysian authorities. There have been no developments from the Police who has purportedly been investigating the scandal for nearly two years already. We certainly didn’t hear of an arrest warrant for Low Taek Jho or Riza Aziz to answer questions, despite their being named as the parties who laundered 1MDB’s funds in the United States.
In addition, the new Bank Negara Governor, Datuk Mohammad Ibrahim has publicly washed his hands off the 1MDB scandal by declaring the 1MDB case closed despite the money laundering allegations. Former MACC Deputy Chief Commissioner, Datuk Zakaria Jaffar have even declared that the 1MDB scandal isn't MACC’s jurisdiction.
Hence who is the Second Finance Minister Datuk Johari Abdul kidding when he told reporters that action will be taken? He didn’t even have the courage as the Finance Minister II to direct Bank Negara to open money laundering allegations against all of the above implicated officials, including MO1.
In fact, why should the Malaysian Government be waiting for the DOJ suit to concluded in the US before we follow up with the necessary actions?
Given that it is Malaysian money which is stolen, shouldn’t Datuk Johari be jumping up and down demanding immediate action by our own Malaysian authorities, instead of being shamed by a foreign country?
It cannot be clearer that Datuk Johari had been quickly promoted to the Finance Minister II position to help cover up the entire shocking and shameful scandal, and to ensure that his master, Dato’ Seri Najib Razak remained unshaken by the entire global exposé.
He even stressed that “there will be no two ways in dealing with this matter.”
The Finance Minister’s assertion must have been joking because the statement lacked any iota of credibility.
How is Datuk Johari expecting Malaysians and the international community to believe him when there has been a complete absence of outrage from the Najib administration on the DOJ suit which the Federal Bureau of Investigations claimed “the Malaysian people were defrauded on an enormous scale”.
The DOJ claimed that 1MDB officials and their associates stole more than $3.5 billion from the fund between 2009 and 2015 and laundered at least $1 billion through the US. The fund's officials tried to conceal the fund's origins through complex transactions that involved shell companies and bank accounts located in various countries.
Despite the enormity of the scam and scandal, the Malaysian Government has shown shocking indifference to the exposé. The Prime Minister, Dato’ Seri Najib Razak only took pains to emphasise that it is only a civil suit and it didn’t involve him.
This was despite the fact that the DOJ suit has highlighted that a “Malaysian Official 1” had received USD731 million from the embezzled funds. The “MO1” undeniably referred to Dato’ Seri Najib Razak. In fact, the Minister in the Prime Minister’s Department, Dato Seri Rahman Dahlan even said that “only an idiot don't know who MO1 is”.
Despite all of the above substantiated allegations made by the DOJ, there have been no concrete actions taken by Malaysian authorities. There have been no developments from the Police who has purportedly been investigating the scandal for nearly two years already. We certainly didn’t hear of an arrest warrant for Low Taek Jho or Riza Aziz to answer questions, despite their being named as the parties who laundered 1MDB’s funds in the United States.
In addition, the new Bank Negara Governor, Datuk Mohammad Ibrahim has publicly washed his hands off the 1MDB scandal by declaring the 1MDB case closed despite the money laundering allegations. Former MACC Deputy Chief Commissioner, Datuk Zakaria Jaffar have even declared that the 1MDB scandal isn't MACC’s jurisdiction.
Hence who is the Second Finance Minister Datuk Johari Abdul kidding when he told reporters that action will be taken? He didn’t even have the courage as the Finance Minister II to direct Bank Negara to open money laundering allegations against all of the above implicated officials, including MO1.
In fact, why should the Malaysian Government be waiting for the DOJ suit to concluded in the US before we follow up with the necessary actions?
Given that it is Malaysian money which is stolen, shouldn’t Datuk Johari be jumping up and down demanding immediate action by our own Malaysian authorities, instead of being shamed by a foreign country?
It cannot be clearer that Datuk Johari had been quickly promoted to the Finance Minister II position to help cover up the entire shocking and shameful scandal, and to ensure that his master, Dato’ Seri Najib Razak remained unshaken by the entire global exposé.
Did Datuk Mohammad Ibrahim cut a deal not to investigate Dato’ Seri Najib Razak for money-laundering offences to secure his appointment as the new Bank Negara Governor?
New Bank Negara Malaysia (BNM) Governor, Datuk Muhammad Ibrahim announced yesterday that there would be no reopening of investigations on 1MDB despite the spate of new evidence disclosed by United States Department of Justice (DOJ). He said that the central bank has already taken all necessary action against 1MDB.
"We have completed our investigations into 1MDB based on the information and investigation papers. We have imposed a penalty on the company. We have taken all necessary action entrusted on us by the law and we have closed the investigation," Muhammad said at a press conference in Kuala Lumpur.
This single announcement has in one swift blow, destroyed all the credibility BNM has painstakingly accumulated over the past 2 decades. The international financial community and government authorities will only laugh with incredulity how 1MDB was slapped on the wrist with an undisclosed administrative penalty when the DOJ charges that 1MDB and Malaysian officials have colluded to scam and launder more than USD3.5 billion from the company.
The Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2013 (“AMLA”) states that any person is deemed to have committed an offence if he or she “acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes of or uses proceeds of an unlawful activity” or “removes from or brings into Malaysia, proceeds of an unlawful activity”.
Bank Negara Malaysia, as the competent authority under the AMLA, must hence not abdicate from its responsibility to commence investigations into the above highly suspicious transactions for all relevant offences under the Act.
Worst, the DOJ specified that a significant part of the laundered funds found its way into the Malaysian banking system. In particular, the charges established that USD731 million was deposited into the personal bank account of a “Malaysian Official One” (MO1) between 2011 and 2013. And the Minister in the Prime Minister’s Department, Dato’ Seri Rahman Dahlan acknowledged that only an idiot would not know that MO1 refers to Dato’ Seri Najib Razak.
In addition, it is also an offence when one “conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity”.
Dato’ Seri Najib Razak has not only received the illicit funds, he had tried to conceal the transfers by pretending that it is a “donation” from some mysterious unnamed Arab donor, which has now proven to be a complete lie.
The question for the Bank Negara Governor is very simple - has Dato’ Seri Najib Razak been investigated for multi-billion ringgit money laundering scam which has been highlighted by the US DOJ?
As far as we are aware, based on public announcements by BNM, 1MDB has only been investigated for improper disclosure to the central bank for its fund transfers overseas. The elements of a money laundering conspiracy involving top 1MDB officials and the Prime Minister has never been carried out.
Why is Dato’ Seri Najib Razak immune to money laundering investigations by BNM? Why is Datuk Mohammad Ibrahim failing to restore the integrity and protect the sanctity of our financial system from money laundering activities aggressively like other jurisdictions?
The Rakyat are now asking if this is because the newly appointed Governor has struck a secret deal with the Prime Minister to secure his appointment?
"We have completed our investigations into 1MDB based on the information and investigation papers. We have imposed a penalty on the company. We have taken all necessary action entrusted on us by the law and we have closed the investigation," Muhammad said at a press conference in Kuala Lumpur.
This single announcement has in one swift blow, destroyed all the credibility BNM has painstakingly accumulated over the past 2 decades. The international financial community and government authorities will only laugh with incredulity how 1MDB was slapped on the wrist with an undisclosed administrative penalty when the DOJ charges that 1MDB and Malaysian officials have colluded to scam and launder more than USD3.5 billion from the company.
The Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2013 (“AMLA”) states that any person is deemed to have committed an offence if he or she “acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes of or uses proceeds of an unlawful activity” or “removes from or brings into Malaysia, proceeds of an unlawful activity”.
Bank Negara Malaysia, as the competent authority under the AMLA, must hence not abdicate from its responsibility to commence investigations into the above highly suspicious transactions for all relevant offences under the Act.
Worst, the DOJ specified that a significant part of the laundered funds found its way into the Malaysian banking system. In particular, the charges established that USD731 million was deposited into the personal bank account of a “Malaysian Official One” (MO1) between 2011 and 2013. And the Minister in the Prime Minister’s Department, Dato’ Seri Rahman Dahlan acknowledged that only an idiot would not know that MO1 refers to Dato’ Seri Najib Razak.
In addition, it is also an offence when one “conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity”.
Dato’ Seri Najib Razak has not only received the illicit funds, he had tried to conceal the transfers by pretending that it is a “donation” from some mysterious unnamed Arab donor, which has now proven to be a complete lie.
The question for the Bank Negara Governor is very simple - has Dato’ Seri Najib Razak been investigated for multi-billion ringgit money laundering scam which has been highlighted by the US DOJ?
As far as we are aware, based on public announcements by BNM, 1MDB has only been investigated for improper disclosure to the central bank for its fund transfers overseas. The elements of a money laundering conspiracy involving top 1MDB officials and the Prime Minister has never been carried out.
Why is Dato’ Seri Najib Razak immune to money laundering investigations by BNM? Why is Datuk Mohammad Ibrahim failing to restore the integrity and protect the sanctity of our financial system from money laundering activities aggressively like other jurisdictions?
The Rakyat are now asking if this is because the newly appointed Governor has struck a secret deal with the Prime Minister to secure his appointment?
Tuesday, August 09, 2016
Datuk Hasan Arifin clearly a “cari makan” PAC Chairman when he refused to reopen 1MDB investigations and initiate new investigations into SRC International
The UK Guardian has labelled the 1MDB imbroglio as the “world’s largest financial scandal”. This was after the US Attorney-General filed a suit to seize US$1 billion of assets laundered from 1MDB, the single largest action under the Kleptocracy Asset Recovery Initiative. The US Department of Justice (DOJ) laid out the charges in full, which showed more than US$3.5 billion have been misappropriated from Malaysia’s sovereign wealth fund, 1MDB.
Most importantly, the US DOJ detailed the exact transactions showing how US$731 million of the misappropriated funds ended up in the personal bank account of a “Malaysian Official 1” (MO1). As the Minister in Prime Minister’s Department, Datuk Seri Rahman Dahlan rightly pointed out, only an idiot would not know that MO1 refers specifically to Dato’ Seri Najib Razak.
I have at the Parliamentary Public Accounts Committee (PAC) meeting yesterday demanded that the PAC re-open investigations into 1MDB. I said that the Malaysian Parliament will be failing to fulfil the grave responsibilities the people have entrusted us with if we fail to react and follow up with the single biggest scandal which has possibly irreparably damaged the nation’s reputation.
Datuk Hasan Arifin refused to allow the PAC to allow the investigations to be re-opened and confirmed his decision with a statement after the meeting. The Chairman insisted that the PAC has already completed its report tabled to the Parliament in April 2016 and there was no necessity to re-visit the scandal. He was supported by the Gerakan Member of Parliament for Simpang Renggam, Liang Teck Meng who dismissed the DOJ suit as mere “speculation”.
Datuk Hasan Arifin’s excuse is completely unacceptable.
Previously, the PAC never had the opportunity to call upon the Prime Minister to testify before the Committee because evidence relating to the embezzlement by Dato’ Seri Najib Razak was withheld by 1MDB. Despite repeated requests by the Auditor-General for nearly a year, 1MDB had refused to supply documents, particularly bank statements of its overseas subsidiaries and accounts.
Datuk Hasan Arifin and the Najib administration had even twisted the PAC Report as “clearing Najib” despite the fact that Najib was never investigated as a result of the withheld evidence.
Hence with the DOJ suit, I told the PAC meeting that there is now concrete evidence to demand that the Prime Minister testify before the PAC. It is the perfect opportunity for Dato’ Seri Najib Razak to confirm or deny the allegations. I even said that if Najib was able to demonstrate concrete evidence which showed that he has been maligned by the DOJ, and that the monies obtained were indeed from Arab “donors”, I will be the first to stand up to defend and redeem his honour.
Datuk Hasan Arifin has also refused, without even providing any reason for my additional request to initiate investigations against another related Ministry of Finance subsidiary, SRC International Sdn Bhd. This is despite the fact that the Attorney-General Tan Sri Apandi Ali himself has provided evidence of RM27 million being transferred from the company to Dato’ Seri Najib Razak’s accounts via intermediaries in 2014, as well as the fact that SRC International has failed to table its financial audit since March 2014.
The PAC Chairman's obstinate refusal to accede to the all-important requests led me to believe that he sole purpose is to be a “macai” to obstruct and cover up all allegations on Dato’ Seri Najib Razak. He has confirmed that he is indeed a “cari makan” Chairman and disgraced the honour and integrity of Malaysia’s supreme legislative body.
I had walked out of the meeting yesterday and will not be attending the meetings scheduled for this week as a mark of protest against the total farce the PAC has become.
Most importantly, the US DOJ detailed the exact transactions showing how US$731 million of the misappropriated funds ended up in the personal bank account of a “Malaysian Official 1” (MO1). As the Minister in Prime Minister’s Department, Datuk Seri Rahman Dahlan rightly pointed out, only an idiot would not know that MO1 refers specifically to Dato’ Seri Najib Razak.
I have at the Parliamentary Public Accounts Committee (PAC) meeting yesterday demanded that the PAC re-open investigations into 1MDB. I said that the Malaysian Parliament will be failing to fulfil the grave responsibilities the people have entrusted us with if we fail to react and follow up with the single biggest scandal which has possibly irreparably damaged the nation’s reputation.
Datuk Hasan Arifin refused to allow the PAC to allow the investigations to be re-opened and confirmed his decision with a statement after the meeting. The Chairman insisted that the PAC has already completed its report tabled to the Parliament in April 2016 and there was no necessity to re-visit the scandal. He was supported by the Gerakan Member of Parliament for Simpang Renggam, Liang Teck Meng who dismissed the DOJ suit as mere “speculation”.
Datuk Hasan Arifin’s excuse is completely unacceptable.
Previously, the PAC never had the opportunity to call upon the Prime Minister to testify before the Committee because evidence relating to the embezzlement by Dato’ Seri Najib Razak was withheld by 1MDB. Despite repeated requests by the Auditor-General for nearly a year, 1MDB had refused to supply documents, particularly bank statements of its overseas subsidiaries and accounts.
Datuk Hasan Arifin and the Najib administration had even twisted the PAC Report as “clearing Najib” despite the fact that Najib was never investigated as a result of the withheld evidence.
Hence with the DOJ suit, I told the PAC meeting that there is now concrete evidence to demand that the Prime Minister testify before the PAC. It is the perfect opportunity for Dato’ Seri Najib Razak to confirm or deny the allegations. I even said that if Najib was able to demonstrate concrete evidence which showed that he has been maligned by the DOJ, and that the monies obtained were indeed from Arab “donors”, I will be the first to stand up to defend and redeem his honour.
Datuk Hasan Arifin has also refused, without even providing any reason for my additional request to initiate investigations against another related Ministry of Finance subsidiary, SRC International Sdn Bhd. This is despite the fact that the Attorney-General Tan Sri Apandi Ali himself has provided evidence of RM27 million being transferred from the company to Dato’ Seri Najib Razak’s accounts via intermediaries in 2014, as well as the fact that SRC International has failed to table its financial audit since March 2014.
The PAC Chairman's obstinate refusal to accede to the all-important requests led me to believe that he sole purpose is to be a “macai” to obstruct and cover up all allegations on Dato’ Seri Najib Razak. He has confirmed that he is indeed a “cari makan” Chairman and disgraced the honour and integrity of Malaysia’s supreme legislative body.
I had walked out of the meeting yesterday and will not be attending the meetings scheduled for this week as a mark of protest against the total farce the PAC has become.
Wednesday, August 03, 2016
How can a Finance Minister with any sense of integrity and accountability claim that 1MDB’s disowned financial statements for the years ending March 2013 and 2014 “doesn’t affect 1MDB”?
Deloitte Malaysia who signed off 1MDB’s controversial accounts for the financial years ending March 2013 and 2014 has publicly disowned the veracity of the audited reports. This has forced the Board of Directors of 1MDB to announce that “its 2013 and 2014 audited financial statements should no longer be relied on until allegations made by the United States (US) Department of Justice (DOJ) are determined in court”.
However, instead of setting off more alarm bells, the newly appointed Second Finance Minister, Datuk Johari Abdul Ghani brushes of the significance and importance of the above development by claiming that it “doesn’t affect 1MDB”.
He said that it is because 1MDB no longer has bank loans and doesn’t plan to borrow money.
Firstly, the irresponsible statement by Datuk Johari Abdul Ghani is misleading because 1MDB is still laden with multi-billion dollar debts which have yet to be repaid. They include the US$6.5 billion worth of bonds raised by Goldman Sachs, RM5 billion sukuk guaranteed by the Federal Government, RM2.4 billion sukuk via its subsidiary Bandar Malaysia Sdn Bhd and another RM800 million of borrowings from SOCSO.
Secondly, the Second Finance Minister appears completely uninterested in the reasons or basis why Deloitte has withdrawn its endorsement for 1MDB’s accounts for 2013 and 2014.
The DOJ suit has shown that Deloitte has failed to discover that 1MDB had made more than US$3.5 billion of payments over the course of 2012 t0 2014 to a fraudulent Aabar Investment PJS Limited, incorporated in the British Virgin Islands (BVI).
Deloitte found nothing suspicious in 1MDB Global Investment Limited’s US$1.56 billion investment in several dodgy and obscure investment funds, including the Devonshire Growth, Enterprise Emerging Markets and Cistenique investment funds. The US DOJ had determined that these funds had acted as conduits in the money laundering scam, including US$681 million which had ended up in the Prime Minister, Dato’ Seri Najib Razak’s personal bank account.
Deloitte was also led to believe that US$1.22 billion was successfully redeemed from 1MDB’s fake investment in the Cayman Islands, when in reality 1MDB was making round-tripping transactions with money from its subsidiary, 1MDB Global Investment Limited. This was revealed separately by documents exposed by the Sarawak Report.
Why is Datuk Johari Abdul Ghani completely disinterested in the missing and embezzled funds? Why is there no demand from the Minister for the accounts to be re-audited?
Is his promotion from Deputy Finance Minister precisely because he will stand by the Prime Minister through thick and thin to cover up the multi-billion-dollar misappropriation which has taken place in the wholly-owned subsidiary of the Ministry of Finance?
Malaysians are disgusted that the Cabinet has failed to take any concrete actions to ensure accountability in 1MDB. No action has been taken against any of the officials involved despite the damning Public Accounts Committee (PAC) and still-classified Auditor-General’s Report, as well as the latest expose by the US DOJ.
Datuk Johari Abdul Ghani further asserted that Putrajaya is “very confident” that 1MDB will win the US$6.5 billion arbitration case filed by IPIC. His sheer confidence is surprising given the DOJ developments which has clearly shown 1MDB’s various key official playing an integral role in conspiring to defraud 1MDB.
Under such circumstances, how is 1MDB going to be able to prove to the London Arbitration Court that 1MDB is an innocent party to the massive fraud? Will Datuk Johari resign if the decision is found to be not in 1MDB’s favour?
Sunday, July 31, 2016
A second international money laundering scam designed to cover up the first will cement Malaysia’s notoriety as the kleptocratic capital of the world
The Sarawak Report has exposed an alleged plan to double the price tag of the East Coast Rail Link (ECRL) to RM60 billion. The “extra” RM30 billion is meant to be channelled to a nominated Chinese company to pay off 1MDB’s bad debts channelled via behind the scenes company.
The massively inflated alleged cost of the ECRL to be awarded to China Communications Construction Company (CCCC) lends credence to the Sarawak Report documents which detailed how the “excess” was to bailout the debt-stricken 1MDB.
The nominated company by CCCC will then pay 1MDB the sum of US$850 million (RM3.4bn) for the purposes of repayment for International Petroleum Investment Corporation (IPIC) advances, and assume the debt of 1MDB subsidiaries amounting to US$4.78 billion (RM19.4bn) inclusive of interest which had been guaranteed by IPIC.
These payments are clearly meant to go towards the settlement with IPIC which has taken 1MDB to the London arbitration court for the amount of US$6.5 billion.
I have since demanded that Dato’ Seri Najib Razak confirm or deny the alleged plan. However, the Prime Minister has remained conspicuously silent on the exposé. His silence on the matter will no doubt leave Malaysians believing another bailout is underway. However, this is no ordinary bailout.
When the Parliament approved a special bill to allocate RM6 billion for Khazanah Nasional to rescue Malaysian Airlines System, that was a bailout. When the Ministry of Finance approved a RM4.5 billion soft loan for the Port Klang Free Zone, that was a bailout.
However, in this case, the Najib administration will be attempting a secret bailout of 1MDB via fraud and deceit. If true, the Prime Minister will be engineering another multi-billion-dollar international money laundering exercise to cover up the first one by 1MDB.
Has Najib not learnt his lesson with the first 1MDB money-laundering scam? The purportedly “legal” transactions such as “investment” in an ostensibly legal joint venture like “1MDB-Petrosaudi International Limited” did not in any way legitimise the attempts to siphon money for unrelated purposes.
Hence similarly, a purportedly “legal” ECRL contract does not in any way legitimise the attempt to siphon money out for the purposes of covering up another crime.
Furthermore, as the second “cover up” bailout will once again involve international cross-border transactions, any bank carrying out the multi-billion-dollar money-laundering exercise for them will be risking their reputation and survival.
After all, the previous banks who have facilitated the 1MDB money-laundering scam are now all in hot soup – including UBS Bank, DBS Bank and Standard Chartered Bank. 143-year-old Swiss bank, BSI not only found itself investigated by the Switzerland authorities but had its operating license terminated by the Monetary Authority of Singapore. Even Goldman Sachs who assisted 1MDB in raising US$6.5 billion of bonds is being probed.
Finally, if CCCC were to accept the fraudulently inflated contract to carry out the money laundering on behalf of the Najib administration, then the US$24 billion company listed on the Hong Kong Stock Exchange will itself be party to the money-laundering scam and subjecting itself to prosecution in jurisdictions around the world.
Malaysia does not need another money-laundering scandal investigated by authorities all around the world to further sully our rapidly diminishing reputation while making Malaysia the kleptocratic capital of the world. The Cabinet must put a stop to this RM60 billion ECRL contract immediately so that the long-suffering Malaysian people will not be scammed again for multi-billion dollars to cover up another scam.
The massively inflated alleged cost of the ECRL to be awarded to China Communications Construction Company (CCCC) lends credence to the Sarawak Report documents which detailed how the “excess” was to bailout the debt-stricken 1MDB.
The nominated company by CCCC will then pay 1MDB the sum of US$850 million (RM3.4bn) for the purposes of repayment for International Petroleum Investment Corporation (IPIC) advances, and assume the debt of 1MDB subsidiaries amounting to US$4.78 billion (RM19.4bn) inclusive of interest which had been guaranteed by IPIC.
These payments are clearly meant to go towards the settlement with IPIC which has taken 1MDB to the London arbitration court for the amount of US$6.5 billion.
I have since demanded that Dato’ Seri Najib Razak confirm or deny the alleged plan. However, the Prime Minister has remained conspicuously silent on the exposé. His silence on the matter will no doubt leave Malaysians believing another bailout is underway. However, this is no ordinary bailout.
When the Parliament approved a special bill to allocate RM6 billion for Khazanah Nasional to rescue Malaysian Airlines System, that was a bailout. When the Ministry of Finance approved a RM4.5 billion soft loan for the Port Klang Free Zone, that was a bailout.
However, in this case, the Najib administration will be attempting a secret bailout of 1MDB via fraud and deceit. If true, the Prime Minister will be engineering another multi-billion-dollar international money laundering exercise to cover up the first one by 1MDB.
Has Najib not learnt his lesson with the first 1MDB money-laundering scam? The purportedly “legal” transactions such as “investment” in an ostensibly legal joint venture like “1MDB-Petrosaudi International Limited” did not in any way legitimise the attempts to siphon money for unrelated purposes.
Hence similarly, a purportedly “legal” ECRL contract does not in any way legitimise the attempt to siphon money out for the purposes of covering up another crime.
Furthermore, as the second “cover up” bailout will once again involve international cross-border transactions, any bank carrying out the multi-billion-dollar money-laundering exercise for them will be risking their reputation and survival.
After all, the previous banks who have facilitated the 1MDB money-laundering scam are now all in hot soup – including UBS Bank, DBS Bank and Standard Chartered Bank. 143-year-old Swiss bank, BSI not only found itself investigated by the Switzerland authorities but had its operating license terminated by the Monetary Authority of Singapore. Even Goldman Sachs who assisted 1MDB in raising US$6.5 billion of bonds is being probed.
Finally, if CCCC were to accept the fraudulently inflated contract to carry out the money laundering on behalf of the Najib administration, then the US$24 billion company listed on the Hong Kong Stock Exchange will itself be party to the money-laundering scam and subjecting itself to prosecution in jurisdictions around the world.
Malaysia does not need another money-laundering scandal investigated by authorities all around the world to further sully our rapidly diminishing reputation while making Malaysia the kleptocratic capital of the world. The Cabinet must put a stop to this RM60 billion ECRL contract immediately so that the long-suffering Malaysian people will not be scammed again for multi-billion dollars to cover up another scam.
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