The Prime Minister, Datuk Seri Najib Razak should take a leaf from his Singapore counterpart and schedule a three-day parliamentary debate on 1MDB on 24-26th July when Parliament reconvenes and waive parliamentary immunity to give a full accounting of the scandal, which has made Malaysia into a global kleptoracy.

Up to now, Najib and his government have put up an elaborate but artificial charade that the 1MDB scandal does not exist, a figment of imagination of Najib’s enemies who want to topple the Malaysian Prime Minister and undermine the national sovereignty of Malaysia.

However, the fig leaf of such an elaborate and artificial charade has been torn to shreds by the guilty plea of the former Singapore banker, Yeo Jiawei, to charges including money-laundering of stolen 1MDB funds. Yeo played a role in the 1MDB money-laundering transactions and made secret profits on the side.

Even more ominous was the statement by the Singapore prosecutors that 1MDB was the “main victim” of the US$6 billion financial scam by the Penang billionaire Jho Low and the revelation that Jia Wei had agreed to help with Singapore’s 1MDB money-laundering probes, described as the largest in the country’s history. Read the rest of this entry »