Until 18 months ago, 1MDB was a national scandal, the subject of constant parliamentary questions and badgering by DAP MP for PJ Utara, Tony Pua and the PKR MP for Pandan, Rafizi Ramli the previous five years – with Pua asking his first question in Parliament about the 1MDB scandal with regard to the rationale of 1MDB investment in PertroSaudi International as far back as March 2010.

But 18 months ago, the 1MDB scandal escalated and graduated from a national into an international scandal.

I remember I was in Labis on the evening of 1st March 2015 to take part in a DAP Chinese New Year kopitiam ceramah, and just before my turn to speak, I read on the Internet the shocking expose by the Sarawak Report whistleblower website in its “Heist of the Century” article which announced that together with London Sunday Times, they had completed an in-depth investigation into the 1MDB scandal.

It claimed to have obtained access to thousands of documents and emails relating to transactions by 1MDB, including its initial joint venture with the little known oil company PetroSaudi International from 2009.

It alleged that the documents establish that, in spite of copious official denials, the entire joint venture project was conceived, managed and driven through by the Prime Minister’s associate and family friend the party-loving billionaire tycoon, Jho Low and that the documents also prove that the USD$700 million so-called “loan” that was supposedly repaid to PetroSaudi as part of the joint venture agreement, was actually a “front” to channel the money to a company controlled by Jho Low.

It was a shocking tale about the makings of the biggest financial scandal in the nation’s history. At the time, the figure quoted for the 1MDB scandal was RM42 billion, which was already the greatest of all the financial scandals in the country, eclipsing even the worst and biggest of financial scandals in the country’s history, whether the RM2.5 billion BMF (Bumiputra Malaysia Finance) scandal, Bank Negara forex exchange scandal, Maminco, MAS and Perwaja scandals.

Now the 1MDB scandal would have ballooned easily from RM42 billion to RM55 billion as the RM42 billion figure was for 1MDB liabilities on March 2014 – some 30 months ago – as the audited accounts for 1MDB for the past two years remain in the realm of mystery to the public including parliamentarans!

The tragedy of the 1MDB scandal is that in retrospect, all the grave allegations whether in the Sarawak Report in the article “Heist of the Century”, or in international newspapers like the New York Times or the Wall Street Journal, both before and after the “Heist in the Century” article, had withstood the test of time and neither 1MDB nor the Malaysian Government had been able to puncture or cast doubt on the veracity of anyone of the serious and myriad allegations about the theft, embezzlement, misappropriation and money-laundering of billions of ringgit of 1MDB funds – with the “MALAYSIAN OFFICIAL 1” cast like a spider at the centre of the spider web. Read the rest of this entry »

By TOM WRIGHT
Wall Street Journal
Sept. 11, 2016

Documents show $6 million in credit-card spending by Rosmah Mansor

A major financial scandal swirling around the Malaysian prime minister is drawing fresh attention to his glamorous wife, Rosmah Mansor, who newly revealed documents show has racked up at least $6 million in credit card charges in recent years—despite having no known source of income beyond her husband’s salary.

At an anticorruption rally last month in Kuala Lumpur, hundreds of students, young professionals and other demonstrators took to the streets behind a cardboard caricature of a meticulously coiffed woman carrying a Hermès handbag, demanding an investigation into Ms. Rosmah’s finances.

“She said she saved that money since she was small. That is impossible,” said Anis Syafiqah Mohd. Yusuf, a 24-year-old student from the University of Malaya who helped organize the protest.

Ms. Rosmah’s jewel-bedecked public appearances have long made her a polarizing figure in this relatively poor, Southeast Asian country. She is the only child of schoolteachers, hasn’t had a regular paying job in years and her husband, Prime Minister Najib Razak, is a longtime bureaucrat with an annual salary of $100,000.

Ms. Rosmah, 64 years old, says she has a habit of saving. “I have bought some jewelry and dresses with my own money. What is wrong with that?” she wrote in her 2013 autobiography. Read the rest of this entry »