Archive for category Financial Scandals

Charging of Najib and Arul Kanda over tampering with Auditor-General’s 1MDB Report highlights the role of PAS leadership in aiding and abetting the 1MDB scandal

The charging of the former Prime Minister, Datuk Seri Najib Razak and former 1MDB Chief Executive Officer Arul Kanda Kandasamy with tampering of the Auditor-General’s 1MDB report in 2016 has highlighted the role of the PAS leadership in aiding and abetting the 1MDB corruption and money-laundering scandal.

In April 2017, the PAS Central Working Committee publcily gave approval to the 1MDB CEO Arul Kanda who briefed it for more than two hours about the 1MDB.

No wonder that that there won’t be a joint UMNO-PAS anti-1MDB Rally where the respective UMNO and PAS Presidents, Datuk Seri Zahid Hamidi and Datuk Seri Hadi Awang will condemn Najib, the 1MDB scandal and grand corruption in Malaysia, which reached such stratospheric heights as to make Malaysia a global kleptocracy under Najib’s premiership.

The PAS President, Datuk Seri Hadi Awang may be able to square Islam with kleptocracy, but I am sure that the majority of Muslims and non-Muslims cannot accept any equation of Islam or any of the great religions of the world with corruption and kleptocracy.

It has been reported that the fear of UMNO becoming too Islamic-centric and getting closer to PAS were the main reasons for the exodus of its Sabah members.

A stronger reason would be the axis between UMNO and PAS to defend Najib’s kleptocracy and the 1MDB scandal.

(Media Statement (2) by DAP MP for Iskandar Puteri Lim Kit Siang in Parliament on Thursday, 13th December 2018)

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Is Rahman Dahlan prepared to show direction for UMNO by condemning Najib for the 1MDB catastrophe which brought Malaysia the infamy, ignominy and iniquity of a global kleptocracy

Former Najib stalwart who was Minister and Barisan Nasional Strategic Communications Director Datuk Seri Abdul Rahman Dahlan was spot-on when he said that the lack of direction in Umno following the party’s colossal defeat in the May 9 polls is one of the reasons for the exodus of its Sabah lawmakers.

Is Rahman prepared to show direction for UMNO by condemning Datuk Seri Najib Razak for the 1MDB catastrophe which brought Malaysia the infamy, ignominy and iniquity as a global kleptocracy?

UMNO was rudderless because it had lost the moral compass, and no one even after the colossal defeat suffered by UMNO in the 14th General Election dared to speak up to identify Najib and his 1MDB kleptocracy as the leading causes of UMNO’s undoing. Read the rest of this entry »

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What has happened to Hishamuddin’s self-appointed role and offer to bring back Jho Low back to Malaysia to “face justice”?

Yesterday, 1MDB scandal financier fugitive Jho Low was again charged in absentia in Malaysia with seven charges involving the 1MDB scandal, five charges under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 involving him receiving US$1.03 billion (RM4.28 billion) from 1MDB through his company Gold Star Ltd and another two other joint charges with Tan Kim Loong under the same Act involving US$1.2 million (RM5.24 million).

In a statement through his public relations firm in Sydney after the charges in absentia, Jho Loh claimed innocence in the 1MDB scandal and alleged that the charges were made to “create a false sense of security for the political loss that the Mahathir regime has brought upon itself due to its failures on current issues; disregard for the rule of law; and intentional misinterpretation of the constitution”
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Why Najib has made five FaceBook postings but not a single one on the US DOJ revelations that hundreds of millions of ringgit of embezzled 1MDB funds had been used to lobby and bribe US officials to drop the US DOJ’s largest kleptocratic litigation on 1MDB?

Since the United States Department of Justice (DOJ) revelations in the US Court on Nov. 30 that hundreds of millions of ringgit of embezzled 1MDB funds had been used to lobby and bribe US officials to drop the US DOJ’s largest kleptocratic litigation on 1MDB, former Prime Minister Datuk Seri Najib Razak had come out with at least five FaceBook postings, but not a single one on the US DOJ bombshell on the latest 1MDB developments.

Can Najib explain why?

Malaysians are entitled to know what Najib has to say with regard to the US DOJ revelations in the US courts that hundreds of millions of ringgit from the 1MDB scam had been deployed not only to influence DOJ’s investigation into the 1MDB scandal, but even to secure the US President, Donald Trump, to drop the US DOJ kleptocratic proceedings on 1MDB altogether.

Several individuals, including a former DOJ staff, George Higginbotham, had been bribed to lobby high-level government officials on the US DOJ probe on the 1MDB scandal. Read the rest of this entry »

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Is the MCA AGM today being held behind closed-doors to protect Wee Ka Siong and the MCA leadership from attacks from MCA delegates for aiding and abetting Najib in the 1MDB scandal as well as for the new extremist and dangerous MCA politics of lies and hate

I had said at the opening on the DAP Ayer Keroh Activities Centre in Malacca yesterday that the new MCA President, Datuk Wee Ka Siong should lead the entire MCA leadership to make two abject apologies to all Malaysians at the MCA General Assembly today – firstly, for aiding and abetting former Prime Minister, Datuk Seri Najib Razak in the 1MDB corruption and money-laundering scandal and making Malaysia a global kleptocracy and secondly, for the new extremist and dangerous MCA politics of lies and hate as exhibited in yesterday’s MCA Youth Assembly.

Would Wee Ka Siong and tnhe MCA leaders have the qualities of wisdom, humility and patriotism to make this double apology at the MCA General Assembly today? Read the rest of this entry »

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Najib tied himself in knots rebutting Tong’s revelations that he had personally informed Najib and Jho Low as far back as 6th March 2015

Former Prime Minister, Datuk Seri Najib Razak is capable of swift reaction.

After a thunderous silence for five days, he swung into action and came out with a response within five hours of my statement yesterday asking why the most prolific Malaysian FaceBook user with up to seven postings a day had not responded to Tong Kooi Ong’s revelation five days ago about his meeting with Najib in March 2015 to tell him about the 1MDB scandal and fugitive financier Jho Low, and that such silence condemned him on the 1MDB kleptocracy scandal.

Najib tied himself in knots in his rebuttal to Tong’s revelation that he (Tong) had personally informed Najib about the 1MDB scandal and the role of financial fugitive Jho Low when he met Najib at the latter’s Jalan Duta house dining room at the request of the UMNO MP for Baling, Datuk Abdul Azeez Abdul Rahim on March 6, 2015 at 10.45 pm. Read the rest of this entry »

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Najib condemned himself on the 1MDB kleptocracy by his thunderous silence on Tong Kooi Ong’s shocking account of his encounter with Najib on 1MDB and Jho Low in 2015

The former Prime Minister, Datuk Seri Najib Razak has become Malaysia’s most prolific FaceBook user.

In the last seven days, he had 35 FaceBook postings, averaging five a day – ranging from three to seven postings a day.

But he condemned himself on the 1MDB kleptocracy by his thunderous silence on Edge Media Group chairperson Datuk Tong Kooi Ong’s revelations five days ago rubbishing Najib’s claims of ignorance over the 1MDB scandal.
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Najib should be referred to the Parliamentary Committee of Privileges for tampering with the Auditor-General’s 1MDB audit report before it was presented to the last Parliament

Former Prime Minister and Member of Parliament for Pekan, Datuk Seri Najib Razak should be referred to the Parliamentary Committee of Privileges for tampering with the Auditor-General’s 1MDB audit report before it was presented to the last Parliament.

The Auditor-General Madinah Mohamad has confirmed that the then prime minister Najib Abdul Razak summoned her predecessor Ambrin Buang on Feb 22, 2016, and instructed certain parts of the report to be expunged.

She added that Najib’s private secretary Shukry Mohd Salleh had also instructed the mentions of businessperson Low Taek Jho, a central figure in the 1MDB scandal, to be removed. Read the rest of this entry »

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Malaysia should emulate Abu Dhabi’s IPIC and sue Goldman Sachs to recover US$7.1 billion for losses suffered as a result of three bonds totaling US$6.5 billion and US600 million commission to Goldman Sachs

Malaysia should emulate Abu Dhabi’s International Petroleum Investment Co. (IPIC) and sue Goldman Sachs to recover US$7.1 bilion for losses suffered as a result of three bonds totally US$6.5 billion and US$600 million commission to Goldman Sachs.

Abu Dhabi’s International Petroleum Investment Co (IPIC) yesterday filed a lawsuit against US investment bank Goldman Sachs and others to recover losses suffered through its dealings with Malaysian state fund 1MDB. Read the rest of this entry »

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It must be history’s most pathetic mea culpa, contrived and totally unconvincing, completely unable to evoke sympathy and understanding, let alone pity

It must be history’s most pathetic mea culpa, contrived and totally unconvincing, completely unable to evoke sympathy and understanding let alone pity.

Who would believe Datuk Seri Najib Razak’s admission that his administration was cheated by fugitive financier Jho Low, the other mastermind of the 1MDB scandal?

Please stand forward and declare yourself and we have the new suckers in Malaysia!
Read the rest of this entry »

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Since 14GE, there was hardly a day when the 1MDB scandal did not dominate news headlines, very often with multiple items a day

What a far cry from what the then Prime Minister, Datuk Seri Najib said in his 2016 New Year Message on Dec. 31, 2015 that his RM50 billion 1MDB and RM2.6 billion donation twin mega scandals had been resolved and were no more issues.

Since the 14th General Election on May 9,. 2018,, there was hardly a day when the 1MDB scandal did not dominate news headlines, very often with multiple items a day!

Today, for instance, there were four news stories connected to the 1MDB scandal in Malaysiakini, viz: “New Zealand gov’t: Jho Low not given passport”; “Jho Low drops claims to New York’s Park Lane Hotel to facilitate sale”;“1MDB probe to be completed in ‘another month or two’”; and “Najib upset over muted gov’t bench when he talks about 1MDB”. Read the rest of this entry »

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Goldman Sachs CEO David Solomon’s voice mail too little, too late and too paltry – just repay US$600 million to 1MDB to show genuine contrition and take first step back to become a responsible global corporate citizen

Goldman Sachs Group Inc CEO David Solomon’s voice mail to Goldman Sachs employees that “This isn’t us” to distance the mega bank from the multi-billion 1MDB scandal is too late, too little and too paltry, when in July 2016 and later in June 2017 in its expanded and updated kleptocratic litigation to forfeit 1MDB-linked assets in the United States, US Department of Justice (DoJ) had listed the “material misrepresentations and omitted facts” of the three 1MDB bonds arranged by Goldman Sachs in 2012 and 2013 and the almost-instant misappropriation and fraudulent diversion of some 40 per cent each of the three bonds.

The guilty plea of Goldman Sach’s former top banker in Asia, Tim Leissner, to two counts of conspiracy to launder money and conspiracy to violate the Foreign
Corrupt Practices Act in relation to the 1MDB scandal has undermined the mega bank’s attempt to wash its hands of responsibility for the 1MDB scandal.

In his guilty plea in a New York district court on August 28, which was unsealed on November 8, Leissner said others at the bank helped him conceal bribes used to retain business in Malaysia.

He said the culture of secrecy at the investment bank led him to conceal wrongdoing from the company’s compliance staff. Read the rest of this entry »

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Why the Wall Street titan Goldman Sachs should contact the Malaysian Government to offer an acceptable settlement for its criminal facilitation of the 1MDB “kleptocrtacy at its worst” scandal

It is most ironic that the Wall Street titan Goldman Sachs is criminally involved in the facilitation of the 1MDB “kleptocracy at its worst” scandal of Malaysia.

Goldman Sachs has produced top-notch United States government leaders, and some of the former Goldman Sachs employees who have moved on to top government positions include former US Secretaries of the Treasury Robert Rubin and Henry Paulson and current US Secretary of the Treasury Steven Mnuchin, former US Chief Economic Adviser Gary Cohn, European Central Bank President Mario Craghi, former Bank of Canada and current Governor of Bank of England Mark Carney.

In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, and competing banks such as Citigroup and Merrill Lynch.

Goldman Sachs has a compliance group responsible for managing and overseeing compliance policies and internal accounting controls covering bribery, money-laundering, conflicts of interest, personal investments, outside activities, etc.

Goldman Sachs Chief Executive David Solomon said in Singapore last week that he felt “horrible” that two former employees “blatantly broke the law” in their dealings with Malaysian state fund 1Malaysia Development Berhad. Read the rest of this entry »

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Not enough for global mega-bank Goldman Sachs to feel “horrible” for its principal role in the international 1MDB corruption and money-laundering scandal, as it is time for it to explain how it is going to compensate 32 million Malaysians for their criminal breach of trust and kleptocracy

The Goldman Sachs chief executive David Saloman said in Singapore last week that he felt “horrible” that two former employees “blatantlyh broke the law” in their dealings with 1MDB.

It is not enough for the global mega-bank Goldman Sachs to feel “horrible” for its principal role in the interntional 1MDB corruption and money-laundering scandal, as it is time for it to explain how it is going to compensate 32 million Malaysians for its criminal breach of trust and kleptocracy, for it is crystal clear that without Goldman Sach’s criminal role, the 1MDB scandal would not have become, in the words of the former United States Attorney-General Jeff Sessions at the inaugural Global Forum on Asset Recovery last December , “kleptocracy at its worst”.

At the inaugural Global Forum on Asset Recovery, Jeff Sessions said that “nearly half of the US$3.5 billion in corruption proceeds we have restrained is related to just one enforcement action” – the 1MDB scandal. Read the rest of this entry »

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Documentary “Kleptocrats” about the 1MDB scandal making world premier in New York while the Supreme Kleptocrat in Malaysia continues in his bubble to deny existence of 1MDB scandal

Former UMNO Minister and UMNO Wanita leader, Tan Sri Rafidah Aziz has asked a most important and pertinent question about education in Malaysia at the Nurture, Engage, eXchange Leadership Conference in Penang yesterday: “What are you bringing up? Kleptos (thieves) and bullies?”

She said Malaysia has no need to come up with reports on the education system, as by the time the reports are written, the rest of the world would have already moved ahead.

So many studies, so many reports, but nobody looks at them. So no need”, she said. Read the rest of this entry »

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Malaysians must always be reminded of the 1MDB scandal and the national catastrophe we avoided by a hair’s breadth six months ago until we have suceeded in redeeming ourselves by transforming Malaysia from a global kleptocracy into a leading nation of integrity

Six months ago, we were rushing headlong in the trajectory towards a rogue democracy, a kakistocracy where a Cabinet Minister could not differentiate between a turtle egg and a chicken egg and where even those with the of IQ of a carrot can hope to get into the Cabinet, and an instant global kleptocracy.

By a hair’s breadth, on May 9, 2018, Malaysians escaped the national catastrophe awating the country if we had continued unchecked towards such a trajectory towards disaster.

Voices are gathering saying that it is time to put the 1MDB scandal behind us now that multiple charges on the 1MDB scandal had been made against various personalities in the courts, including the former Prime Minister, Datuk Seri Najib Razak, his wife Rosmah Mansor, and that the people should leave it to the courts to adjudicate on the matter.

I cannot disagree more. Read the rest of this entry »

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Jeff Sessions was fired by Trump as US Attorney-General six months too late to be of any use to Najib to save him from the 1MDB “kleptocracy at its worst” scandal

Jeff Sessions was fired by US President Donald Trump as US Attorney-General six months too late to be of any use to Datuk Seri Najkb Razak to save him from the international 1MDB corruption, criminal breach of trust and money-laundering scandal.

This must be one of Najib’s greatest regrets – to think that he might have salvaged his political life and the Prime Ministership if Jeff Sessions had been sacked very much earlier, as he and his legion of propagandists and cybertroopers would then be able to crow that even President Trump had repudiated Jeff Session’s caustic indictment at the Global Forum on Asset Recovery last December that the 1MDB scandal was “kleptocracy at its worst” and that the US Department of Justice (DoJ) was working to provide justice to the victims!

All these historic “IFs” were of course subject to the greatest “IF” of all, i.e IF Najib had not been thrown out of Putrajaya by the Malaysian electorate in the historic peaceful and democratic transition of power first time in six decades in Malaysia.

All these possibilities, combinations and permutations are now so much water under the bridge, for it is completely unthinkable that under the present circumstances, Trump would even spend a second of his time on the question of how to bail out Najib – although things might have been different IF Najib had won the 14th General Election and remained as Prime Minister. Read the rest of this entry »

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I have asked Chong Chieng Jen whether Sarawak State Assembly could be the first State Assembly in Malaysia to condemn 1MDB “kleptocracy at its worst” scandal following the damning guilty plea of former Goldman Sachs banker Timothy Leissner to immoral and colossal theft of Malaysian public funds

I have asked the Sarawak Pakatan Harapan Chairman and Sarawak State Assembly Leader, Chong Chien Jen whether the Sarawak State Assembly could be the first State Assembly in Malaysia to condemn 1MDB “kleptocracy at its worst” scandal following the damning guilty plea of former Goldman Sachs banker Timothy Leissner to immoral and colossal theft of Malaysian public funds.

Chong will discuss with the Sarawak Chief Minister Abang Johari Abang Openg on the possibility of the Sarawak State Assembly taking the lead for all State Assemblies in Malaysia to condemn the heinous corruption, criminal breach of trust and money-laundering crimes committed in the 1MDB scandal, which involved tens of billions of ringgit of funds of Sarawakians and Malaysians. Read the rest of this entry »

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Let Najib reply to Utusan Malaysia and every Opposition MP take a stand on the latest Utusan position on Najib when Parliament reconvenes next week

Last Monday, I called on every Opposition Member of Parliament to declare his or her stand during the 2019 Budget debate in Parliament next week whether the 1MDB scandal was a national catastrophe and whether Datuk Seri Najib Razak should be held responsible for Malaysia becoming a global kleptocracy or whether all the things said by the Pakatan Harapan government on the 1MDB scandal were lies and slanders.

I suggested that there was no point of UMNO President, Datuk Seri Zahid Hamidi, in speaking although as Parliamentary Opposition Leader he would by convention open up the parliamentary debate on the 2019 Budget on Monday, if he is not prepared to declare his stand whether the 1MDB scandal was a national catastrophe and whether Najib should be held responsible for Malaysia becoming a global kleptocracy.

Yesterday, Zahid announced that the Barisan Nasional MPs have decided that instead of the traditional practice of the Parliamentary Opposition Leader opening up the 2019 Budget debate on Monday, the former Umno Youth leader, Khairy Jamaluddin will be the first speaker in the 2019 Budget debate.
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Will Najib explain in Parliament next week why he betrayed UMNO, BN and Malaysia as he did nothing for over three years to purge Malaysia of the infamy of a global kleptocracy as a result of the 1MDB scandal despite US Attorney-General’s condemnation of “kleptocracy at its worst”?

I was in Perth in September and I met Greg Lopez, a research fellow at Murdoch University, who wrote a most prescient article in Forbes in August 2015 entitled “Malaysia’s Prime Minister: A Dead Man Walking?”.

Greg said the then Prime Minister, Datuk Seri Najib Razak had broken “a cardinal rule in politics” in inadvertently admitting “guilt” when the Malaysian Anti-Corruption Commission cleared him of any wrongdoing in accepting the infamous RM2.6 billion “political donation”.

He said Najib’s position was no longer tenable as Malaysians questioned his sincerity and trustworthiness. Read the rest of this entry »

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