Archive for May 12th, 2016
Malaysian Leader Najib’s Stepson Allegedly Funded U.S. Property Deals With 1MDB Money
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Thursday, 12 May 2016
By BRADLEY HOPE and TOM WRIGHT
Wall Street Journal
May 11, 2016
At least $50 million allegedly diverted from state investment fund was spent on luxury real estate in the U.S.
At least $50 million allegedly diverted from a state investment fund in Malaysia was spent on luxury properties in New York and Los Angeles by the stepson of the Malaysian prime minister, according to documents reviewed by The Wall Street Journal and people familiar with the matter.
Riza Aziz, a film producer and stepson of Malaysian leader Najib Razak, used money that originated from the 1Malaysia Development Bhd. fund to acquire a 7,700-square-foot, $33.5 million duplex in the Park Laurel condominium tower overlooking New York’s Central Park, the documents and people said.
Mr. Aziz also used money originating from 1MDB to buy an 11,000-square-foot walled mansion in Beverly Hills with a 120-foot-long pool for more than $17.5 million, the documents and people said.
The financing of those acquisitions is under investigation by the Federal Bureau of Investigation, which is conducting a wide-ranging inquiry into alleged misappropriation of billions of dollars from 1MDB, according to people familiar with the probe. 1MDB was set up in 2009 to benefit the Malaysian people. Read the rest of this entry »
S’wak’s Tasik Biru battle DAP’s litmus test of conscience
Mordi Bimol
Malaysiakini
12th May 2016
COMMENT On the nomination day for the Sarawak state election on April 25, 2016, Lim Kit Siang, who was present at the Tasik Biru seat nomination centre, described the battle in Tasik Biru between Henry Jinep of the BN and I, as the litmus test for DAP in the Dayak majority seat.
Tasik Biru is a constituency that comprises 68 percent Dayak, 26 percent Chinese and six percent Malay Melanau. BN eventually won with a majority of 1,288 votes, garnering 6,922 votes (55 percent) against the DAP’s 5,634 votes (45 percent).
Although we lost the seat in a straight fight with BN-SPDP, we made significant inroads in this Dayak majority seat.
In the 13th general election, I contested for the parliamentary seat of Mas Gading, which comprises two state assembly seats – Tasik Biru and Opar – and garnered 5,293 votes.
In this state election, we obtained more votes (5,634) in just one state assembly seat alone. At the micro-level, we won in four out of 20 Dayak villages, with one of them as high as 70 percent. We averaged at 40 percent votes for Dayak localities. Such an achievement was unimaginable three years ago.
We managed to make significant inroads into the Bidayuh heartland despite BN’s systematic pouring of cash handouts on the last day and use of fear tactics – the villagers were told that the government would cut their water, electricity and welfare aid if BN were to lose the seat! Read the rest of this entry »
The victims of RM50 billion 1MDB scandal are the 30 million Malaysians as “corruption is not a victimless crime”
Posted by Kit in Corruption, Najib Razak on Thursday, 12 May 2016
Malaysia and the Malaysian Prime Minister, Datuk Seri Najib Razak should be playing a leading role in the historic Anti-Corruption Summit in London today hosted by the United Kingdom Government, as this is the second important global anti-corruption conference held after the 16th International Anti-Corruption Conference (IACC) in Putrajaya last September with the theme of “Ending Impunity: People, Integrity and Action”.
Unfortunately Najib dodged and ducked the 16th IACC which was supposed to be the high-water mark of his six-year anti-corruption campaign and show-case him as one of the exemplary global leaders spearheading a transformation programme with anti-corruption as one of its core objectives.
When Najib’s keynote address for the conference hosted by the Malaysian government was cancelled at the last-minute, and Najib’s photograph and biography quietly and ignominiously removed from the conference website, the 30 million Malaysians had to endure a humiliating opening speech delivered by Transparency International Chair José Ugaz who told about 1,000 delegates from all over the world that the measures taken by the Najib government in connection with the 1MDB financial scandal “are not the actions of a government that is fighting corruption.”
Jose Ugaz said: “No one can be in Malaysia and not be aware of the corruption allegations of recent months and how damaging they are to the country. There is a corruption crisis here.
“We want to see more progress but that cannot happen while there are unanswered questions about the $700m that made its way into the prime minister’s personal bank account.
“There are two questions that need to be answered: Who paid the money and why? Where did it go?
“One man could answer those questions.”
Eight month forward, these two simple questions about Najib’s RM50 billion 1MDB and RM4.2 billion “donation” twin mega scandals (only cited as RM42 billion and RM2.6 billion respectively during the 16th ICAC) are not only no nearer to answer, but have been swarmed by more serious issues about integrity, accountability and good governance. Read the rest of this entry »
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