Archive for June 26th, 2017
1MDB: What Next for Scandal Bankers?
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Monday, 26 June 2017
finews.com
26 June 2017 | Written by Katharina Bart
Singapore’s financial regulator has closed the door on a two-year investigation over 1MDB. But Swiss banks – and bankers – are by no means off the hook. finews.com looks at who is sweating more than usual this summer.
The Monetary Authority of Singapore, or MAS, head Ravi Menon called BSI «the worst case of control lapses and gross misconduct» he had ever seen in Singapore finance. Six people were referred to Singapore’s prosecutor.
Two years after beginning to probe how banks in the city-state catered to 1MDB’s financial machinations, MAS has shut the investigation, levying nearly S$30 million in fines against UBS, Credit Suisse, DBS, Standard Chartered, UOB, Coutts & Co as well as Falcon Private Bank and Banca della Svizzera Italiana. Read the rest of this entry »
Najib should give meaning to his Aidilfitri address to avoid slanderous statements by ensuring that his government and UMNO/BN do not become the father of lies, fake news and false information
Posted by Kit in Corruption, Financial Scandals, Foreign, Najib Razak on Monday, 26 June 2017
The Prime Minister, Datuk Seri Najib Razak, in his televised Aidilfitra address has warned against slanderous statements disseminated by “irresponsible parties” especially on social media.
I support Najib’s call and urge the Prime Minister to give meaning to his Aidilfitri address to avoid slanderous statements by ensuring that his government and the UMNO/Barisan Nasional coalition which he leads do not become the father of lies, fake news and false information.
Recently, there are more and more examples of the UMNO/BN government and coalition guilty of the heinous sin of hypocrisy, preaching the iniquity of fake news and false information on the one hand while at the same time concocting fake news and false information on the other.
Without going back to the past where UMNO/BN were guilty of the most heinous lies and falsehoods to demonise DAP and DAP leaders, like alleging that I had been responsible for the May 13,1969 riots and had led illegal processions through the streets of Kuala Lumpur resulting in the May 13 riots although I was never in Kuala Lumpur at the relevant period, I will cite three recent examples of such lies, falsehoods, fake news and false information.
The first recent lie and slander perpetrated by UMNO/BN government/coalition: Read the rest of this entry »
Call for the report of the Special Task Force on Bank Negara forex losses in early 1990s to be made public
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Monday, 26 June 2017
Ministers of the sixth Prime Minister, Datuk Seri Najib Razak, say the darndest things but Najib’s Cabinet has made the darndest decision last Wednesdy, when the Ministers glued their eyes and minds to a quarter of a century ago to establish a Royal Commission of Inquiry (RCI) into Bank Negara foreign exchanges losses scandal but were totally blind to the present and future – in particular the multi-billion dollar 1MDB world money-laundering scandal which had catapulted Malaysia to international infamy and ignominy of a global kleptocracy.
The chairman of the Special Task Force (STF) into Bank Negara’s forex losses in early nineties, Tan Sri Mohd Sidek Hassan, said that the STS’ recommendation for a RCI into the Bank Negara’s forex losses a quarter of a century was to bring closure to the issue.
The question Malaysians want answer is why the former Chief Secretary to the Government and the STS members were totally unconcerned about bringing a closure to the 1MDB scandal, considering the shame and humiliation it has brought to Malaysians and the nation? Read the rest of this entry »
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