Archive for category Corruption
Not surprised in the least that Liow and Mah not prepared to save Malaysia from kleptocracy as their entire political future hinge on not rocking Najib’s boat like raising awkward issues concerning the 1MDB money-laundering scandal
Posted by Kit in Corruption, Financial Scandals on Friday, 27 January 2017
Up till noon today, on the expiry of my 72 hour offer to meet MCA President Datuk Seri Liow Tiong Lai and the Gerakan President Datuk Seri Mah Siew Keong, together or separately, any place any time to discuss how we can co-operate in the larger national interests to save Malaysia from a global kleptocracy and a failed and rogue state, I have not been contacted, either directly or indirectly, by Liow or Mah.
I regret this although I am not in the least surprised that Liow and Mah are not prepared to save Malaysia from kleptocracy as their entire political future hinge on not rocking Prime Minister, Datuk Seri Najib Razak’s boat like raising awkward issues concerning the international multi-billion dollar 1MDB kleptocratic money-laundering scandal.
I also regret that the PAS President, Datuk Hadi Awang had spurned my offer of co-operation to save Malaysia from becoming a global kleptocracy and a failed and rogue state, as there had been complete silence from him in the last six days apart from puerile, ridiculous and malicious responses from his subordinates in PAS.
What the issue in the past six days had shown is that I am prepared to co-operate with Najib, Hadi, Liow, Mah and the other Barisan Nasional leaders in Sabah and Sarawak on an overriding national agenda – to save Malaysia from global kleptocracy and a failed and rogue state – but unfortunately, Najib, Hadi, Liow and Mah are not prepared to reciprocate.
Of course, it will not be easy for them to reciprocate my offer for what does saving Malaysia from global kleptocracy and a failed and rogue state mean? Read the rest of this entry »
Was the MACC chief directing his “Just You Wait” warning to MO1, and if not, what credibility is there that the MACC will break jinx of just going after ikan bilis while ikan yus continue to go scotfree, unlike “tigers” in China and “crocodiles” in Indonesia who are brought to justice and jailed?
Posted by Kit in Corruption on Friday, 27 January 2017
Was the Malaysian Anti-Corruption Commission (MACC) Chief Commissioner, Datuk Dzulkifli Ahmad, directing his “Just You Wait” warning to MO1, and if not, what credibility is there that the MACC will break the jinx of just going after ikan bilis while ikan yus continue to go scotfree, unlike the “tigers” in China and “crocodiles” in Indonesia who are being caught, brought to justice and jailed?
Dzulkifli should know that Malaysians have had enough of excuses why “grand corruption” involving top political leaders continue to be a protected “species” and no amount of belly-aching about inadequate budget or staffing is acceptable as an excuse for MACC’s failure to break the back of the problem of grand corruption in Malaysia – as evident by another drop in Malaysia’s ranking and score in the Transparency International (TI)’s Corruption Perception Index (CPI) 2016!
For 2016, Parliament allocated a budget of RM250 million for the MACC, which is more than six times the budget allocated to its predecessor, Anti-Corruption Agency (ACA) for the year 2000.
Can Dzulkifli produce a report to demonstrate that the MACC today is six times more effective than ACA in 2000 in fighting corruption, in arresting and jailing the corrupt especially in terms of netting ikan yus and ikan bilis by bringing them to justice, whether “grand corruption” or “petty corruption”?
Malaysia’s ranking in the TI CPI 2001 was No. 36 out of 91 countries and the score was 50 out of 100, but in the 2016 TI CPI, Malaysia was fallen to No. 55 out of 176 countries with a below mid-point score of 49 out of 100.
Is this the six times’ improvement in performance and KPI of the MACC as compared to the ACA in year 2000? Read the rest of this entry »
Liow and Mah seem to have an unwritten agreement with Hadi that they will not rock Najib’s boat and will not raise any issue about the 1MDB money-laundering scandal even if Malaysia is known as a global kleptocracy
Posted by Kit in 1Malaysia, Corruption on Thursday, 26 January 2017
I can report that in the second day of my 72-hour proposal to MCA President Datuk Seri Liow Tiong Lai and the Gerakan President Datuk Seri Mah Siew Keong for a separate or joint meeting to discuss how we can co-operate in the larger national interests to save Malaysia from a global kleptocracy and a failed and rogue state, I have received no contact from either one of them.
I have also received no response from Datuk Seri Hadi Awang to my statement in Penang on Sunday during my “Jelajah Desa” at Sungai Gelugor in Penang that I am prepared to co-operate with the PAS President to save Malaysia from becoming a global kleptocracy and a failed and rogue state – apart from negative statements from his subordinates in PAS.
It would appear that Liow and Mah have an unwritten agreement with Hadi that they will not rock the boat of the Prime Minister, Datuk Seri Najib Razak and will not raise any issue or question about the international multi-billion dollar 1MDB kleptocratic money-laundering scandal even if Malaysia is as a result regarded worldwide as a global kleptocracy.
Am I wrong? We will know when my 72-hour offer to Liow and Mah expires at noon tomorrow!
Actually, there is no better time than now for all the political leaders, whether in government or opposition, to demonstrate their patriotism and love of the country by uniting on a common national agenda to save Malaysia from global kleptocracy and a failed and rogue state, especially with the release of the Transparency International (TI) Corruption Perception Index (CPI) 2016 in Berlin yesterday which showed that Malaysia is hurtling downwards in a unchecked decline in national and international perceptions about integrity, good governance and the war against corruption. Read the rest of this entry »
A week ago, Google returned 255,000 results in 0.42 seconds on “1MDB” search – today it returned 4.41 million searches in just 0.32 seconds!
Posted by Kit in Corruption, Financial Scandals, Gerakan, IT, MCA, Najib Razak, UMNO on Wednesday, 25 January 2017
I wish to report that in the first 24 hours from 12 noon yesterday till 12 noon today, neither MCA President Datuk Seri Liow Tiong Lai nor the Gerakan President Datuk Seri Mah Siew Keong had contacted me in response to my public offer yesterday that I am prepared to meet with them, individually or collectively, any place any time in the ensuing 72 hours to discuss how we can co-operate in the larger national interests to purge and cleanse Malaysia of the infamy and ignominy of being regarded world-wide as a global kleptocracy.
I had asked whether Liow and Mah would have to get UMNO approval before responding. We will wait and see what happens in the rest of the 72-hour offer.
Already, there is a strange political phenomenon. In yesterday’s press, I was the target of massive attacks from all the top MCA and Gerakan leaders for offering during my “Jelajah Desa” at Sungai Gelugor in Penang on Sunday to co-operate with PAS President, Datuk Seri Hadi Awang to save Malaysia from becoming a global kleptocracy and a failed and rogue state.
Read the rest of this entry »
Fund-scandal fallout keeps Malaysia on its toes
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Tuesday, 24 January 2017
By Una Galani | HONG KONG
Reuters
Jan 23, 2017
(Reuters Breakingviews) – Malaysia is still struggling to put its sovereign-fund scandal behind it. Prime Minister Najib Razak was not named in lawsuits filed last year by the U.S. Department of Justice after billions disappeared from 1Malaysia Development Berhad, and he has deftly avoided a legal tangle on his home turf. Nonetheless, the fallout is keeping Malaysia’s leader on his toes.
The scandal at the fund Najib championed has left a dark mark on sentiment around the country. Money from the fund found its way into financing the movie “The Wolf of Wall Street” and allegedly into Najib’s personal bank account, something he denies. But mud sticks. One recent survey by FT Confidential Research found 71.5 percent of respondents had a negative view of the prime minister. Malaysia must hold an election by August 2018 at latest, but even with the redistricting of constituencies, it will be a slog to win more votes than in 2013 which saw the worst-ever performance for the Barisan Nasional ruling coalition. Read the rest of this entry »
Why is Najib leading the UMNO/BN charge and campaign of fear, hatred and lies in the run-up to the 14GE unless he feels that this is the only formula to save himself in the next general election?
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Thursday, 19 January 2017
I am surprised by the speech by the Prime Minister, Datuk Seri Najib Razak in Kedah on Tuesday night that regardless of whether DAP has the top government post, the party will still “call the shots” and run the show if UMNO/BN is defeated in the 14th General Election.
Najib said: “Democracy and politics are a game of numbers. Who has the most seats, wins. Even if the top post of the government is not given to it, the party with the most seats will effectively rule.”
My surprise at Najib personally leading the charge and campaign of fear, hatred and lies in the run-up to the 14th General Election is for two reasons:
Firstly, has Najib such poor strategists among his election and propaganda advisers that he is personally leading the UMNO/BN charge and campaign of fear, hatred and lies in the run-up to the 14th General Election instead of leaving such “dirty work” to his subordinates, which will give him leeway for deniability of personal approval or even knowledge as Prime Minister and UMNO/BN President for such “gutter politics”, which are most unworthy of the Prime Minister of the nation?
Secondly, has Najib become so desperate that he might lose the 14th General Election requiring him to move out of Putrajaya to the Opposition benches in Parliament, that he has now thrown scruples to the winds by leading the charge and campaign of fear, hatred and lies in a last-ditch effort to save his political office in Putrajaya so as to pack the maximum amount of explosives into such wild and baseless charges?
The ordinary laymen and women in Malaysia can see through Najib’s gambit as evident from the following typical reactions to the Prime Minister’s speech in Kedah: Read the rest of this entry »
Jet, mansions figure in $232 million foreign trust case to be heard in Auckland court
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 18 January 2017
Matt Nippert, business investigations journalist.
New Zealand Herald
Jan 18, 2017
An Auckland courtroom will on Friday become a battleground over Manhattan penthouses and a private jet amid allegations that they are the proceeds of a globe-spanning mega-fraud.
The High Court at Auckland is set down to hear a request from relatives of controversial Malaysian financier Jho Low who oppose the seizure of assets worth $230 million alleged by the United States Department of Justice to be the proceeds of crime.
US court filings said the relatives are beneficiaries of a number of New Zealand trusts that are claimed to directly own a number assets caught up the probe of a Malaysian sovereign wealth fund known as 1MDB.
US Attorney General Loretta Lynch said in July when the DoJ first filed its seizure claims that $5 billion had been misappropriated from the Malaysian state with payments by 1MDB diverted into private Swiss bank accounts and then laundered into artwork, Hollywood films and real estate.
“We are seeking to forfeit and recover funds that were intended to grow the Malaysian economy and support the Malaysian people. Instead, they were stolen, laundered through American financial institutions and used to enrich a few officials and their associates,” she said.
Financier Low is one of three individuals named in the DoJ action as receiving the proceeds of the alleged fraud. The others are a Hollywood producer and step-son of Malaysia’s current Prime Minister, and a former government official from the United Arab Emirates. Read the rest of this entry »
Mustapha not speaking the truth or in his true self when he said Malaysia must “move on” from 1MDB scandal when the law in Malaysia is neither taking its course nor the authorities in Malaysia allowed to go after those responsible for creating the international money-laundering scandal
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 18 January 2017
The Minister for International Trade and Industry, Datuk Mustapha Mohamad had discovered that wherever he went, even at the annual World Economic Forum in Davos, Switzerland, he would be pursued, hounded and haunted by the international multi-billion dollar 1MDB kleptocratic money-laundering scandal which would not leave him in peace.
Mustapha is as wrong as the Prime Minister, Datuk Seri Najib Razak who declared in his 2016 New Year Message on Dec. 31, 2015 that his RM55 billion 1MDB and RM2.6 billion donation twin mega scandals had been resolved and were no more issues when the International Trade and Industry Minister said Malaysia must “move on” from the 1MDB scandal.
AFP quoted Mustapha saying “We’ve learned many lessons and we are moving forward” from the scandal, and said:
“Essentially we have to move on and we have confidence that a number of issues that came to limelight as a result of 1MDB will at some point, be behind us.
“We have the authorities to go after those responsible for creating the mess. The law is taking its course.”
Mustapha is not speaking his true self as he should know more than anybody else that it is not true that the Najib government had “learnt many lessons” from the 1MDB scandal and that “the law is taking its course” and that the “authorities” are going after “those responsible for creating the mess”.
Mustapha’s statement in Davos needs an important qualification as the law in Malaysia is not taking its course, and the authorities in Malaysia are not going after “those creating the mess”. Read the rest of this entry »
Generation of “false news” and “big lies” about DAP by UMNO leaders and cybertroopers an index of their growing desperation about loss of credibility and public support because of rampant corruption, economic crisis and worsening racial and religious polarisation
Posted by Kit in Corruption, DAP, Financial Scandals, Lim Guan Eng, Najib Razak on Tuesday, 17 January 2017
It is ironic but true – the generation of “false news” and “big lies” about the DAP by UMNO leaders and cybertroopers are not a reflection of confidence and hope, but the contrary, an index of their growing desperation about loss of credibility and public support because of rampant corruption, economic crisis and worsening racial and religious polarization – particularly among the Malays in the country.
Just before I came to this dialogue, I was reading about the latest UMNO cybertrooper attack on me – ridiculing the statement by the Deputy Amanah Youth Leader Faiz Fadzil “yang berkata DAP yang hanya bertanding di 51 daripada 222 kerusi Parlimen tidak mampu menerajui kepimpinan negara jika pembangkang menang dalam pilihan raya umum ke 14” by twisting what I said on 31st December that “I expect DAP to double the number of Parliamentary and State Assembly constituencies to be contested in the 14GE as compared to 13GE”.
Yes I did say about expecting the DAP to “double” the number of parliamentary and state assembly seats to be contested in the 14GE, but I was not talking about Malaysia as a whole but specifically about Sabah state, where DAP contested in four parliamentary and eight state assembly seats in the 13GE.
A person who is honest, sincere, pious and God-fearing would not have twisted what I said, for it was very clear that I was referring to doubling the seats contested in Sabah and not Malaysia-wide, unless the UMNP cybertrooper has a very low IQ – but this is the quality of UMNO leaders, propagandists and cybertroopers attacking the DAP who have to be liars to tell downright lies and falsehoods about DAP leaders which cannot stand scrutiny or challenge at all! Read the rest of this entry »
WHY PRESIDENT TRUMP IS BAD FOR FREEDOM … IN MALAYSIA
Posted by Kit in Corruption, Human Rights, Najib Razak on Monday, 16 January 2017
BY SHERIDAN MAHAVERA
South China Morning Post
15 JAN 2017
Civil activists in the country enjoyed US support under Obama, but the incoming president’s anti-China stance may require him to turn a blind eye to Najib’s domestic agenda
After eight years with an influential friend in the White House, Malaysian civil society groups are bracing for the worst when Donald Trump takes over on January 20.
During outgoing President Barack Obama’s two terms, human rights advocates, democracy groups and anti-corruption activists had cultivated warm relations with US officials in Kuala Lumpur, even meeting the 44th US president on his visit to the capital last year – the first by any sitting US president.
In that time, Washington’s tacit support for their causes had been a crucial morale booster during a period of regular clampdowns by the administration of Malaysian Prime Minister Najib Razak, who himself was eager to curry favour with the US leader.
But now they fear a shift in US priorities by a Trump administration that is likely to view Malaysian civil liberties as of relatively low diplomatic priority. Or even worse, that a US, which no longer champions democracy and human rights, might provide moral cover for Najib to further suppress freedoms. Read the rest of this entry »
One of the first things a new Federal Government in Putrajaya replacing the UMNO/BN will do after the 14GE will be to set up a Royal Commission of Inquiry to “chase down every penny from 1MDB”
Posted by Kit in Corruption, Financial Scandals, Islam, Mahathir, Najib Razak on Monday, 16 January 2017
At the official launch of Parti Pribumi Bersatu Malaysia (Bersatu) in Shah Alam last night, PPBM Chairman Tun Dr. Mahathir Mohamad said PPBM would “chase down every penny from 1MDB”.
I have no doubt that one of the first things a new Federal Government in Putrajaya replacing the UMNO/BN will do after the 14th General Election will be to set up a Royal Commission of Inquiry to “chase down every penny from 1MDB”.
In fact, if we have a Cabinet which is patriotic and protective of the good name of Malaysia, the top priority of the agenda of the next Cabinet meeting on Wednesday should be on how to purge and clear the country of the infamy and ignominy of being regarded worldwide as a “global kleptocracy”.
I said in Parliament that a kleptocracy is a government of 3Ps – Pencuri, Perompak and Penyamun.
I do not believe that any patriotic and proud Malaysian would stand idly by and do nothing when the country is defamed worldwide as a “global kleptocracy”!
I also do not believe that the first four Prime Ministers of Malaysia, Tunku Abdul Rahman, Tun Razak, Tun Hussein and Tun Mahathir would have stood idly by and done nothing if Malaysia had been defamed and regarded worldwide as a global kleptocracy during their premiership.
Even the fifth Prime Minister, Tun Abdullah would also have acted to defend the honour and reputation of Malaysia if the country is defamed world-wide as a global kleptocracy!
Why then has the Cabinet done nothing in the past three years to put the ghost of 1MDB scandal to rest, instead allowing the country to be battered, haunted and hounded by the issue, which has aggravated the host of political, economic and nation-building crisis of confidence confronting the country? Read the rest of this entry »
The entire mega Cabinet of 36 Ministers should resign collectively on Wednesday if it is not prepared to come to grips with the roiling international 1MDB kleptocratic money-laundering scandal and appoint a Royal Commission of Inquiry on 1MDB scandal
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Sunday, 15 January 2017
In his 2016 New Year message more than a year ago on 31st December 2015, the Prime Minister Datuk Seri Najib Razak told Malaysians that his RM50 billion 1MDB and RM2.6 billion donation twin mega scandals had been resolved and were no more issues.
Najib could not be more wrong as the Malaysian government and people continue to be haunted and hounded by the international multi-billion dollar 1MDB kleptocratic money-laundering scandal.
In the past 12 months, Malaysia went from the third “worst corruption scandal of 2015” by international website foreignpolicy.com in the last week of 2015, to second worst example of global corruption by Time magazine in March last year, second place in the index of crony capitalism by the Economist’s ranking in May, and full-blown “global kleptocracy” when in July, the US Department of Justice (DOJ) filed the largest kleptocratic lawsuits to forfeit US$1 billion of 1MDB-linked assets in the United States, United Kingdom and Switzerland from US$3.5 billion international 1MDB kleptocratic embezzlement and money-laundering scandal.
There has been no let-up of the incessant international battery and assault of Malaysia’s credibility and reputation in the new year of 2017. Read the rest of this entry »
Congrats to Abang Johari as the new Sarawak Chief Minister and seven areas of Adenan legacy that should be upheld and fulfilled by both Sarawak state and federal governments
Posted by Kit in Corruption, Education, English, Sarawak on Saturday, 14 January 2017
Firstly, let me congratulate Datuk Amar Abang Johari Tun Openg on his appointment as the new Sarawak Chief Minister.
He has a tall order to uphold and fulfill the Adenan legacy in at least seven areas viz:
1. Devolution, decentralisation and restoration of powers from Putrajaya to the Sarawak government not only in keeping with Malaysia Agreement 1963 but also in line with universal developments and trends on devolution and decentralisation of powers and jurisdictions.
2. Increase of Sarawak’s oil and gas royalty from the current amount of five per cent to 20 per cent to maximise the benefit Sarawak can get from its resources, whether forests, waterways, environment or minerals especially oil and gas.
3. Restoration of previous Sarawakian and Malaysian proficiency of English. Read the rest of this entry »
Should Malaysia emulate China and have an Operation Fox-hunt and Sky-net to bring economic or corruption fugitives like Jho Low and others back to justice in Malaysia?
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Thursday, 12 January 2017
The new year has been a bumpy one for Malaysia, with the international multi billion dollar 1MDB kleptocratic money-laundering scandal continuing to make waves and headlines worldwide.
The Australian Federal Police has announced that they are working with international law enforcement agencies to investigate companies associated with the 1MDB scandal – joining at least half a dozen countries, including Switzerland, Singapore and the United States, which have initiated criminal or legal actions concerning the international 1MDB money-laundering scandal.
In Singapore, the fourth banker had been convicted by Singaporean courts in relation to 1MDB-related accounts – Jens Fred Sturzenegger, a Swiss national and branch manager of the Falcon Private Bank in Singapore who pleaded guilty to six charges related to Singapore’s probe on 1MDB.
Sturzeneggar was sentenced to 28 weeks jail and fined S$128,000.
Falcon Private Bank is owned by Abu Dhabi’s International Investment Company (Ipic) and its Singapore operations was shut down by Monetary Authority of Singapore (MAS) in October last year for failing to fulfil anti-money laundering controls and improper conduct by the bank’s senior management.
Singaporean prosecutors had told the court Malaysian businessman Jho Low had control over four accounts with the bank.
According to Channel News Asia, Sturzenegger pleaded guilty to charges of failing to report potentially criminal transactions involving billions of dollars and for lying to authorities to protect Low’s financial interest.
He was also charged for lying to MAS officers to distract them from probing bank accounts controlled by Low by claiming that the accounts were “beneficially owned” by Eric Tan Kim Loong, a known associate of Low’s.
Sturzenegger was said to have lied to investigators about never having made contact with Low. Read the rest of this entry »
Swiss Banker Latest Conviction in Singapore’s 1MDB-Linked Cases
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 11 January 2017
by Andrea Tan
Bloomberg
January 11, 2017
Sturzenegger is first foreigner charged in Singapore’s probe
Former Falcon Bank branch manager charged with 16 counts
Jens Sturzenegger, a former branch manager at Falcon Private Bank Ltd. in Singapore, became the first foreigner convicted in the city’s probes linked to a Malaysian state investment fund.
Sturzenegger, 42, pleaded guilty to six charges, including failing to report suspicious transactions, and was sentenced to 28 weeks in jail and fined S$128,000 ($89,000). Prosecutors had sought a jail term of as long as 32 weeks. His lawyer Tan Hee Joek said in court that Sturzenegger is remorseful and didn’t gain financially from the offenses. Tan said after the hearing his client won’t appeal the sentence. Read the rest of this entry »
Falcon Bank’s Former Singapore Manager Sent to Prison in 1MDB Probe
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 11 January 2017
By P.R. VENKAT
Wall Street Journal
Jan. 11, 2017
The former branch manager is the fourth person to go to prison in the city-state’s probe of a Malaysian state investment fund
A Singapore court Wednesday sentenced a former branch manager of Switzerland’s Falcon Private Bank AG to prison for crimes connected to the alleged multibillion-dollar misappropriation at Malaysian state investment fund 1MDB.
Jens Sturzenegger, 42, a Swiss national who managed Falcon’s Singapore unit, was charged last week with 16 offenses under various laws, including one that requires banks and their officers to enact due-diligence checks on clients to prevent money laundering.
The court Wednesday handed a 28-week prison sentence and a fine of 128,000 Singapore dollars (US$89,000) to Mr. Sturzenegger after he pleaded guilty to six offenses. These include three counts of providing false information to police and central bank authorities, and three counts of failing to report suspicious transactions. The remaining charges were taken into consideration in his sentencing but won’t be pursued separately by the prosecution.
While the charges didn’t directly link Mr. Sturzenegger to fund flows at 1Malaysia Development Bhd., Singapore’s central bank and regulator had said in October that the branch manager had been arrested that month in connection with the city-state’s probe into the alleged misappropriation of billions of dollars from the Malaysian fund. Prosecutors have called the investigation Singapore’s largest-ever probe of alleged money laundering. Read the rest of this entry »
Will Malaysia slide down to its lowest ranking and score in 22 years in Transparency International’s Corruption Perception Index 2016 which will be released in a fortnight’s time?
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Wednesday, 11 January 2017
Will Malaysia slide down to its lowest ranking and score in 22 years in Transparency International’s (TI) Corruption Perception Index (CPI) 2016 which will be released in a fortnight’s time?
I do dread the TI CPI 2016 release, as the past year had been one of the worst years on the corruption front for Malaysia.
Malaysia which dropped four places in the TI CPI 2016, falling from No. 50 to No. 54, and the CPI score slipped from 52 in 2014 to 50 in 2015, would have fallen lower in ranking in TI CPI 2015 if five countries, Bahamas, Barbados, Dominica, Puerto Rico and St Vincent – which had been ranked higher than Malaysia – had not been excluded due to technical reasons like not meeting three minimum secondary sources for research.
The TI CPI 2015 had not taken into account the last bad news on the Malaysian corruption front on the last few days of the 2015, when Malaysia was rated third in international website, foreignpolicy.com’s “worst corruption scandal in 2015”. Read the rest of this entry »
1MDB scandal: Federal Police assisting probes into Malaysia’s wealth fund
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Tuesday, 10 January 2017
ABC News
10th January 2017
1Malaysia Development Bhd (1MDB), founded by Malaysian Prime Minister Najib Razak, is the subject of money laundering investigations in at least six other countries including Switzerland, Singapore and the United States.
Civil lawsuits filed by the US Department of Justice allege more than $US3.5 billion ($4.76 billion) was misappropriated from the fund.
The lawsuits seek to seize $US1 billion ($1.36 billion) in assets allegedly siphoned off from 1MDB and diverted into luxury real estate in New York, Beverly Hills and London, valuable paintings, and a private jet.
Mr Najib, who also chaired 1MDB’s advisory board, has denied wrongdoing and said Malaysia would cooperate with international investigations.
“The AFP is aware of allegations relating to companies associated with 1MDB and have assisted our foreign law enforcement partners with their investigations in relation to a number of these matters,” the AFP told Reuters. Read the rest of this entry »
Let Mohd Faiz, Harith Iskander, Mohd Ridzuan and Ziyad Zolkein be exemplars of world-beaters for Malaysians
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Tuesday, 10 January 2017
Events in the first ten days of the new year have given both hope and dejection about the future of Malaysia.
Standing head and shoulders above all other events in the first 10 days is undoubtedly Penang footballer Mohd Faiz Subri’s clinching of the Fifa Puskas Award for the most beautiful goal of 2016, putting his name on the same list as past winners such as famed football stars Christiano Ronaldo and Neymar.
The 29-year-old Penang striker has indeed brought joy to millions of Malaysians thousands of kilometres away when Mohd Faiz was handed the award for his spellbinding free kick at a glittering ceremony in Zurich yesterday.
Mohd Faiz created history as the first Asian to be bestowed the gong named after Ferenc Puskas, the Hungarian football legend who enjoyed huge success with Real Madrid during the 1950s and 60s as well as his national team.
Last year Harith Iskander won the Funniest Person in the World competition in Finland while Malaysia won two gold medals in the Rio Paralympics, one by Mohamad Ridzuan Mohamad Puzi in men’s 100m T36 and the other by Ziyad Zolkefli in the men’s F20 shot putt.
On the dark side, Malaysia ascended the world chart to become a “global kleptocracy”.
Mohd Faiz’s success is an inspiration to all Malaysians to regain confidence in themselves and the nation to aim to be among the best in the world – not to be mediocre or worse, heading towards a failed and a rogue state.
Let Mohd Faiz, Harith Iskander, Mohd Ridzuan and Ziyad Zolkein be exemplars of world-beaters for Malaysians. Read the rest of this entry »
Malaysian government prepares to wind up 1MDB amid scandal
Posted by Kit in Corruption, Financial Scandals, Najib Razak on Monday, 9 January 2017
Leslie Lopez Regional Correspondent In Kuala Lumpur
Straits Times
JAN 7, 2017
The Malaysian government is laying the groundwork to shut down 1Malaysia Development Berhad (1MDB), the state investment firm mired in a scandal that has become the most serious blight on Prime Minister Najib Razak’s administration at home and abroad.
Under a plan spearheaded by a high-level government unit called the Budiman committee, the assets of the state development fund will be transferred in the coming months to two companies owned by the Finance Ministry.
These valuable assets are two massive plots of land in Kuala Lumpur and one on Penang island. Read the rest of this entry »
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