Archive for category Financial Scandals

Report: Bank’s board briefed on deposits into Najib’s account

Free Malaysia Today
November 13, 2017

PETALING JAYA: Members of AmBank’s board were in the know about large quantities of money deposited into the accounts of Prime Minister Najib Razak in 2013, according to Australian broadcasting agency SBS.

It said the full 12-man board had been briefed about the matter on multiple occasions between September and November 2014, but was not aware then of the source of the funds.

Following the briefing, then-CEO Ashok Ramamurthy, who had been seconded by the Australia and New Zealand Banking Group (ANZ) to head AmBank, was directed to report the transactions to Bank Negara Malaysia (BNM), it added. Read the rest of this entry »

1 Comment

Singapore Police Examine Goldman’s Role in 1MDB Deals

By Andrea Tan
Bloomberg
November 3, 2017

Singaporean prosecutors and police are examining Goldman Sachs Group Inc.’s relationship with the Malaysian state investment fund at the center of global money laundering probes, people with knowledge of the matter said.

The Commercial Affairs Department, the police’s economic crime unit, and city prosecutors have interviewed current and former Goldman Sachs executives who worked on bond offerings from 1Malaysia Development Bhd., said the people, who asked not to be named because the queries are confidential. Investigators are also looking into the firm’s links with Malaysian financier Low Taek Jho, who the U.S. has alleged controlled a plot to siphon billions of dollars from the bond proceeds, the people said.

Investigators’ meetings with current and former Goldman Sachs employees are part of a criminal probe into fund flows related to 1MDB, the people said. The bank itself isn’t the focus of the investigation, they said. Neither Goldman Sachs nor its current or former employees have been publicly accused of criminal offenses or charged in relation to the fund, whose dealings have sparked probes in Singapore, Switzerland and the U.S. Read the rest of this entry »

No Comments

1MDB-linked Prince Turki among those nabbed for corruption in Saudi Arabia

The Edge Markets
November 06, 2017

(Nov 6): Prince Turki bin Abdullah, co-founder of Petrosaudi, the company that is embroiled in the 1Malaysia Development Bhd scandal, was among the 11 princes arrested in anti-corruption raids in Saudi Arabia on Saturday.

Reuters had named Prince Turki bin Abdullah, the former governor of Riyadh province, as among those arrested.

“A Saudi official said former Riyadh Governor Prince Turki bin Abdullah was detained on accusations of corruption in the Riyadh Metro project and taking advantage of his influence to award contracts to his own companies,” Reuters reported. Read the rest of this entry »

1 Comment

Was “the power of 1MDB scandal” at play when in Parliament yesterday former Second Finance Minister Husni transformed from a Najib critic on 1MDB to a Najib sycophant, talking about Najib’s legacy of “zero corruption” when everybody knows it is “global kleptocracy”?

Was the “Power of the 1MDB scandal” at play in Parliament yesterday when former Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah transformed from a Najib critic on 1MDB to a Najib sycophant, talking about Najib’s legacy of “zero corruption” when everybody knows it is “global kleptocracy”?

Before further commentary on Husni’s speech in Parliament yesterday, Husni should clarify what he said a year ago, whether they were the truth and still relevant, for instance:

• That handling 1MDB had made him ill, that he was under heavy stress for months while trying to resolve the controversy and suffered high blood pressure; that a question from a senior official of Bank Negara that “Everyone knows that you are not involved in 1MDB. Why are you feeling stressed over the 1MDB issue?” finally prompted his decision to resign from the Cabinet; and that after his resignation, he felt relieved as “1MDB no longer disturbs my mind and heart”. Read the rest of this entry »

3 Comments

Najib cannot be more wrong in boasting that the 2018 is the “mother of all budgets” – it is the “mother of all hypocritical budgets” when he dared not even address the 1MDB “mother of all scandals” which transformed Malaysia overnight into a global kleptocrcacy

I am very disappointed.

Throughout the nearly three-hour budget presentation by the Prime Minister and Finance Minister, Datuk Seri Najib Razak, I did not hear the single reference to the interntional multi-billion dollar 1MDB money-laundering scandal which had overnight transformed Malaysia into a global kleptocracy.

How can Najib boast that the 2018 Budget which he had presented is the “Mother of All Budgets” – that no other budget “during the last 22 years or the past 60 years of our own nation” had never been crafted so well – when he dare not even mention address the 1MDB “mother of all scandals” which transformed Malaysia overnight into a global kleptocracy!

I am shocked that Najib should claim that he is even better than his father, Tun Razak who had presented a budget as Finance Minister.
Read the rest of this entry »

2 Comments

Call on Najib to start his belated defence of international multi-billion dollar 1MDB scandal which transformed Malaysia overnight into a global kleptocracy in his 2018 Budget speech

Three days before his 2018 Budget speech, the Prime Minister, Datuk Seri Najib Razak suddenly issued a 81-paragraph blog on “My Economic Vision for Malaysia” which is remarkable for its attempt for the first time to white-wash the international multi-billion dollar 1MDB money-laundering scandal by explaining away the colossal theft and misappropriation of tens of billions of ringgit of public funds as a mere 1MDB “share of problems” which “we long ago revamped the management to correct the mistakes and bring it back to financial health”.

This is not a worthy or acceptable response to the international strictures that Malaysia has become a “global kleptocracy” as a result of the 1MDB scandal, which is the core of the kleptocratic litigation instituted by the United States Department of Justice (DOJ) to forfeit US$1.7 billion 1MDB-linked assets in the United States, United Kingdom and Switzerland, and which are now suspended pending criminal investigations by the United States authorities, as well as for the various financial and criminal actions and investigations by over half a dozen countries, including Singapore, Switzerland, Hong Kong, Abu Dhabi, the United Kingdom and Australia in connection with the 1MDB scandal.

Lest it be forgotten, the Malay Rulers’ on October 6, 2015 issued a rare joint statement and called on the Government to complete the investigation related to 1MDB as soon as possible and take “the appropriate stern action” against all found to be implicated. Read the rest of this entry »

2 Comments

If 1MDB is a “national savior”, including saving Malaysia RM200 billion over the next 20 years on power agreements, then stop the clampdown and allow a full debate on 1MDB in Parliament!

Friday Oct. 27, 2017 is a watershed day for the Prime Minister, Datuk Seri Najib Razak, as he will be tabling the 2018 Budget as his “ultra weapon” for winning the 14th General Election.

Today, as a prelude to his 2018 Budget on Friday, Najib released his “My Economic Vision for Malaysia”, where he boasted about his accomplishments and achievements in his more than seven years as Prime Minister.

What will history and future generations remember about Najib’s premiership? Read the rest of this entry »

8 Comments

Lesson from first day of Parliament – no way the 1MDB scandal can be swept under the carpet as it will continue to haunt and hound Malaysia until there is full accountability releasing the country from the infamy of a global kleptocracy

The lesson from the first day of the 25-day Budget 2018 parliamentary meeting is that there is no way the international multi-billion dollar 1MDB scandal can be swept under the carpet as it will continue to haunt and hound Malaysia until there is full accountability releasing the country from the infamy of a global kleptocracy.

Parliament can pretend that the 1MDB scandal has ceased to exist, rejecting questions from Members of Parliament relating to the 1MDB scandal and Malaysia as a global kleptocracy and stopping MPs from demanding accountability for the 1MDB scandal from the Prime Minister and the Cabinet Ministers, with Ministers having to undergo political acrobatics and contortions like the one performed by the Deputy Prime Minister, Datuk Seri Zahid Hamidi yesterday both during and after Question Time on the 1MDB scandal, particularly with reference to the whereabouts of major 1MDB scandal mastermind, Jho Low, but the monstrous 1MDB scandal will not go away. Read the rest of this entry »

2 Comments

Will Najib give an assurance that the Malay Rulers’ statement of concern on national unity and harmony will not suffer the same fate as their previous statement two years ago on 1MDB scandal, which was virtually ignored and disregarded

Will the Prime Minister, Datuk Seri Najib Razak, give an assurance that the Malay Ruler’s statement of concern on national unity and harmony two days ago on Oct. 10, 2017 will not suffer the same fate as their previous statement two years ago on the 1MDB scandal, which was virtually ignored and disregarded.

The only reference, and a most indirect one, made by the Prime Minister to the Malay Rulers’ statement of concern on the 1MDB scandal was some three months later in Najib’s 2016 New Year Message on 31st December 2015 where Najib 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 past 21 months have shown that the 1MDB and Najib’s RM2.6 billion donation twin mega scandals have continued to haunt and hound Malaysians from various corners of the world.

As result, Malaysia has won the dubious distinction of being known worldwide as a “global kleptodcracy”! Read the rest of this entry »

1 Comment

There is a plot to get MACC to arrest and parade me in handcuffs in orange-coloured MACC lock-up uniform to counter kleptocratic allegations against Najib over 1MDB scandal

Today’s Barisan Nasional owned and controlled media are full of pictures and story of the Parti Warisan Sabah vice president Datuk Peter Anthony, in handcuffs and in orange-coloured MACC (Malaysian Anti-Corruption Commission) lock-up uniform being taken to the Kota Kinabalu courthouse to be remanded for five days for further MACC investigations in connection with the siphoning off of some RM7.5 billion to supply water, electricity and roads to the rural poor.

I do not know anything about the latest Sabah corruption case, but I know there is a conspiracy and plot to get the MACC to arrest me under the allegation that former Prime Minister Tun Dr. Mahathir Mohamad had given me a RM1 billion bribe and parade me in handcuffs in orange-coloured MACC lock-up uniform.

This, according to the UMNO/BN election strategists, would be the best way to counter the kleptocratic allegations against Najib over the international multi-billion dollar 1MDB money-laundering scandal which had turned Malaysia overnight into a global kleptocracy.

The top UMNO/BN election strategists had brain-stormed long and hard as to what is the most effective way to counter the main issue against Najib in the “do-or-die” 14th General Election – the kleptocratic allegations, not only in Malaysia but world-wide, against Najib because of the 1MDB scandal.

The most powerful and effective way to counter and destroy this attack on Najib over kleptocracy and 1MDB scandal would be for Najib to prove that he is clean, honest and trustworthy, that there is no 1MDB scandal and that the lies about the US Department of Justice (DOJ) allegations against him as a kleptocrat and “MO1” are just utter lies and falsehoods. Read the rest of this entry »

2 Comments

Malaysia: 1MDB casts a long shadow

by Eric Ellis
EuroMoney
October 04, 2017

This is the third year of the drama: as the government desperately tries to untangle its controversial fund before elections are called, Malaysians are asking who’s really paying to clean up the mess.

It was a revealing time to be a banker in Malaysia.

During the last week of July, word went around Kuala Lumpur’s banking circles that there could be a big government mandate in the offing, a deal to raise around $600 million, there for the taking for anyone up for the business. A $600 million transaction might not be especially large, but a deal is a deal, and even better if it’s for a sovereign, no? After all, the pickings have been a little slimmer for KL bankers ever since Malaysia was engulfed by the 1MDB corruption scandal in 2015, a saga that has rocked the ringgit, threatened Malaysia’s credit standing and plunged the country into chronic political and economic turmoil. At the centre of the scandal is Malaysia’s prime minister, Najib Razak, who received hundreds of millions of dollars via 1MDB, and who claimed the money was a donation from Middle Eastern supporters.

Two years on, the $12 billion debt drama at the Malaysian sovereign fund continues to reverberate at home and echo in regulators’ offices around the world, with investigations under way in seven countries – but notably not Malaysia. Given the suspicions of money laundering and embezzlement, investigators, some wielding indictments, are demanding answers to tough questions about important people implicated in the case. Read the rest of this entry »

2 Comments

Challenge to Najib to deny that he had not created an instant billionaire (in Malaysian ringgit) by approving RM1.8 billion commissions to Leissner or 9% of the three 1MDB bonds totally US$6.5 billion in 2012/3 – which is several times the industry average for underwriting risky bonds

The international headlines about former Goldman Sachs banker Tim Leissner, who had been linked to the 1MDB scandal, barred from the US securities industry for failing to provide documents for 1MDB investigations, is the latest proof that despite Malaysian Prime Minister, Datuk Seri Najib Razak’s optimistic forecast in his 2016 New Year Message 21 months ago that the 1MDB scandal was no more and his Sept. 12 visit to the White House and meeting with US President Trump, the 1MDB scandal is not only very much alive, but has become more global in its tentacles and scope.

The US Financial Industry Regulatory Authority (Finra) said the indefinite ban on Leissner was issued on Sept 11 as he did not respond to requests for documents and other information on 1MDB investigations.

The US industry body was probing Leissner’s departure from Goldman Sachs in early 2016, in particular into a reference letter he allegedly wrote during his time with the firm.

Leissner, who was formerly Goldman Sachs’ Southeast Asia chairperson, was an adviser to 1MDB and had allegedly issued an unauthorised letter in June 2015 to a financial institution in Luxembourg, vouching for controversial entrepreneur Jho Low, a key figure in the scandal surrounding the Malaysian sovereign wealth fund.

Goldman Sachs suspended him, and he later quit the firm. Subsequently, the Monetary Authority of Singapore (MAS) issued a 10-year ban against him trading in the country, effective March 13, 2017.

Leissner was prime mover in Goldman Sachs’ effort in raising US$6.5 billion through the sale of three bonds in 2012 and 2013 for 1MDB, a deal where the firm made US$593 millionh (or RM1.8 billion) in commissions.

Malaysians are entitled to know who in 1MDB, the Finance Ministry and the Government of Malaysia was responsible for approving US$593 million (or some RM1.8 billion) profits to Leissner or 9% of the three 1MDB bonds totally US$6.5 billion in 2012/3 – which is several times the industry average for underwriting risky bonds.

I challenge Najib to deny that he had not created an instant American billionaire (in Malaysian ringgit) in the 1MDB scandal by approving RM1.8 billion commissions to Leissner or 9% of the three 1MDB bonds totally US$6.5 billion in 2012/3 – which is several times the industry average for underwriting risky bonds. Read the rest of this entry »

1 Comment

Ex-Goldman Banker Leissner Barred From U.S. Securities Industry

By Michael J Moore
Bloomberg
October 4, 2017

Tim Leissner, a senior Goldman Sachs Group Inc. banker before leaving the firm in the wake of its work with Malaysia’s embattled investment fund, has been barred from the U.S. securities industry for failing to provide documents to a regulator.

The Financial Industry Regulatory Authority issued an indefinite bar on Sept. 11, saying Leissner didn’t submit to its requests during an investigation, according to his employment records on Finra’s website. Leissner accepted the findings, without admitting or denying them, according to the self-regulatory body.

Leissner, once Goldman Sachs’s Southeast Asia chairman, was an adviser to 1Malaysia Development Bhd., an investment fund set up in 2009 to help the nation build infrastructure. 1MDB ultimately became embroiled in allegations of financial irregularities that sparked probes in multiple countries. Leissner left Goldman last year after questions about the fund, his work on an Indonesian mining deal and a reference letter he allegedly wrote. Read the rest of this entry »

1 Comment

Tomorrow, a third “Believe It or Not” event in two years involving the Prime Minister will take place when Najib declares open the new glittering MACC headquarters in Putrajaya

Tomorrow morning, a third “Believe It or Not” event in two years involving the Prime Minister will take place when Datuk Seri Najib Razak declares open the glittering new MACC headquarters in Putrajaya – and like the two earlier “Believe It or Not” events, be the joke of Malaysians and the world!

Pakatan Harapan Members of Parliament only discovered that the MACC was having a gleaming new headquarters at Precinct 7 in Putrajaya on August 8 when some 30 Members of Parliament walked about 600 metres from Putrajaya Sentral station to the MACC headquarters to present a memorandum to MACC Chief Commissioner, Tan Sri Dzulkifli Ahmad to re-open investigations into the international multi-billion dollar 1MDB money-laundering scandal.

A week earlier, more than 30 Pakatan Harapan Members of Parliament marched from Parliament to Bank Negara to present a memorandum to the Bank Negara Governor, Tan Sri Muhammad Ibrahim to reopen its investigation into the 1MDB scandal in light of new developments.

The MPs carried paper cutouts of “pink diamond” and a large banner stating “Sayangi Malaysia Hapuskan Kleptocrasi” during the march.

Bank Negara has since replied to the memorandum of the Pakatan Harapan MPs, revealing that Bank Negara had imposed a total of RM115.8 million in compounds and administrative penalties on 1MDB and its entities in the past two years.

Although the Bank Negara reply was unsatisfactory, at least there was a response, but there is no official reply as yet from the MACC Chief Commissioner.

Will the MACC Chief Commissioner deliver his reply to the memorandum of the Pakatan Harapan MPs on August 7 at the official opening of the new MACC Building in Putrajaya tomorrow? Read the rest of this entry »

2 Comments

Challenge to MACC Chief Commissioner Dzulkifli to explain at the Pakatan Harapan “Sayangi Malaysia, Hapuskan Kleptokrasi” rally in PJ on Oct. 14 what MACC had done about fighting corruption and abuses of power in the 1MDB scandal

The Malaysian Anti-Corruption Commission Chief Commissioner (MACC) Tan Sri Dzulkifli Ahmad said two days ago that the people are watching me to judge my commitment and seriousness towards fighting corruption and abuses of power.

I have been watched by the people for more than half a century, and DAP leaders are prepared to be judged by the people.

But the MACC Chief Commissioner does not seem to realise that the people are watching the MACC under his leadership to judge whether it dares to fight the “sharks” of corruption, or only goes after the “ikan bilis” and the “medium-sized fishes” in its campaign against corruption.’

In his first anniversary as MACC head, Dzulkifli has launched a nation-wide anti-corruption campaign by MACC officials.

Unfortunately, MACC officials only dare to tell the people to “Say No to Corruption” but they dare not say so themselves, in particular on the international multi-billion dollar 1MDB money-laundering scandal which had turned Malaysia overnight into a global kleptocracy.

I challenge Dzulkifli to come to the Pakatan Harapan “Sayangi Malaysia, Hapuskan Kleptocrasi” rally in Petaling Jaya on Oct. 14 to tell Malaysians what the MACC under his leadership had done about the No. 1 financial scandal and corruption in Malaysia – the 1MDB scandal. Read the rest of this entry »

1 Comment

Three FAQs on 1MDB scandal on whether Najib received RM2.6 billion donation from Saudi royalty and returned RM2.1 billion, whether the RM144 million pink diamond necklace for “wife of MO1” came from stolen 1MDB funds all answered in US DOJ kleptocratic suits

Tonight a historic political night for Pahang with the launch of Pahang Pakatan Harapan.

We have with us tonight the Pahang Pakatan Harapan Chairman and PKR Pahang Chairman, Datuk Fauzi Abdul Rahman (MP for Indera Makhota); DAP Pahang Chairman and Pahang Assemblyman for Tanah Rata, Leong Ngah Ngah and DAP Pahang Vice Chairman Tengku Zulpuri Shah b Raja Puji (State Assemblyman for Mentakab); Amanah Pahang Chairman Dr. Hamzah Jaafar and Amanah Pahang Deputy Chairman and Pahang State Assemblyman for Kuala Semantan Syed Hamid Syed Mohamed; Pribumi Bersatu Pahang Chairman, Datuk Salim Salleh as well as the national representatives of the four Pakatan Harapan component parties – Mohamad Sabu, Amanah President; Sdr. William Leong, PKR MP for Selayang and Akramshah Sanusi Junid, Pribumi Bersatu Central Commttee member.

The gathering of the national and state leaders of the four component parties of Pakatan Harapan to launch the Pahang PH wants to send out a clear message to the voters of Pahang – that Malaysians, regardless of race, religion or region, are on to move to reclaim their democratic right to save Malaysia from kleptocracy and fulfill our Merdeka and Malaysia Dream for Malaysia to be a world-class example of “unity in diversity” where diverse races, religions, languages and cultures can come together to build a democratic, just, progressive and prosperous nation.

There is a great difference between the Barisan Nasional and Pakatan Harapan coalitions.

The BN coalition leaders talk in forked tongues – UMNO leaders playing the race and religious cards among the Malays, inciting fears among the Malay voters with lies that DAP and I are anti-Malay and anti-Islam, that Tun Mahathir, Datuk Seri Anwar Ibrahim , Tan Sri Muhyiddin Yassin and Mohamad Sabu are all my stooges and can only say and do what I told them to do; but MCA and Gerakan leaders among the Chinese voters try to scare them with a different story, that I am a puppet of Tun Mahathir and Anwar Ibrahim.

But we in Pakatan Harapan, whether DAP, PKR, Amanah or PBBM, say the same thing whether to Malays, Chinese, Indians, Kadazans or Ibans – that the time has come for Malaysians regardless of race, religion, region or even politics to unite and as summed up in tonight’s theme, “Sayangi Malaysia, Hapuskan Kleptocrasi”. Read the rest of this entry »

3 Comments

How long will Najib and his administration perpetrate the charade that there is no 1MDB scandal although it continues to make waves and hog international headlines and turned Malaysia overnight into a global kleptocracy?

How long will the Prime Minister, Datuk Seri Najib Razak and his administration perpetrate the charade that there is no 1MDB scandal although it continues to make waves and hog international headlines, the subject of the largest kleptocratic litigation and investigation by the US Department of Justice (DOJ) and turned Malaysia overnight into a global kleptocracy?

So long as Malaysia plays the modern-day role of “The Emperor with no clothes” in the international arena, pretending that there is no 1MDB scandal within the four walls of Malaysia although in foreign financial centres, former bankers are convicted and imprisoned and banks and financial houses and banks are penalized and even closed down for involvement in the international multi-billion dollar 1MDB money-laundering scandal, so long will the 1MDB scandal hamper and impede the healthy political, economic, moral, nation-building and democratic development of the country.

It will even affect Malaysia’s foreign relations as witnessed by Najib’s recent disastrous visit to the White House and meeting with President Trump, the conspicuous absence of a press conference by Najib with the White House press corps and Najib’s equally conspicuous absence from the United Nations General Assembly opening session although he was in Washington a few days earlier. Read the rest of this entry »

2 Comments

Najib’s three “political disasters” on the seventh day of his week of “political disasters” totalling nine “political disasters” from Sept. 12

Yesterday, I listed the six “political disasters” committed by the Prime Minister Datuk Seri Najib Razak’s in his new “swamp politics ala-Trump” from Sept. 12 when he visited the White House and met with US President Trump, viz:

1. Najib’s visit to the White House and meeting with US President Trump on Sept. 12, without any sense of personal shame or national humiliation at being branded a “kleptocrat” and “MO1” by the US Department of Justice (DOJ) largest kleptocratic litigation to forfeit US$1.7 billion 1MDB-linked assets in US, UK and Switzerland, and his subservient position in a supplicant role to Trump to the extent of offering up as “homage” three “value propositions” to strengthen the US economy.

2. Najib publicly labeled as a “crook” by former World Bank President Paul Wolfowitz and Newsweek magazine on Sept. 13, and Najib dare not sue them for defamation.

3. Najib’s speech at the MCA-organised Chinese Community Patriotic Assembly at the UMNO HQ in Kuala Lumpur on Saturday, Sept. 16, where he threatened the Chinese saying that “the Chinese community would be targeted should Malaysia ever descend into chaos…If there is no peace in our country, what will happen? The Chinese will be the first to be targeted if there is no peace in this country.”

4. The perfunctory manner in which Najib as Prime Minister celebrated Malaysia Day on Sept. 16, spending less than 24 hours in Sabah to attend the official Malaysia Day events in Kota Kinabalu at night while completely ignoring Sarawak altogether.

5. The Prime Minister’s highly-hyped media conference announcement on Sept. 17 at 4.45 pm, resulting in the swarming by over 100 reporters from all over the world at the media conference, but which produced a dud in Najib’s latest “swamp politics” – “Mike Tyson” rejoining UMNO after a five-year sojourn in PAS and PKR from April 2013.

6. The continued hearing on Sept. 18 of the farcical Royal Commission of Inquiry into Bank Negara foreign exchange losses a quarter of a century ago, while there is no RCI on the elephant in the room – the international multi-billion dollar 1MDB money-laundering scandal which turned Malaysia into a global kleptocracy overnight. Read the rest of this entry »

1 Comment

The Wolf Of Wall Street producer settles civil suit linked to 1MDB

The NewPaper
Sep 18, 2017

KUALA LUMPUR The company that made the film The Wolf Of Wall Street and was co-founded by Malaysian Prime Minister Najib Razak’s stepson has settled a civil lawsuit brought by the United States government to seize assets allegedly bought with money stolen from a Malaysian state fund.

Red Granite Pictures announced the settlement in a filing at the federal Los Angeles court last Friday, without revealing any sum.

US prosecutors had claimed that the 2013 film, directed by Martin Scorsese and starring Leonardo DiCaprio, was financed by Red Granite using funds stolen from 1Malaysia Development Berhad (1MDB). Read the rest of this entry »

No Comments

Was RCI into Bank Negara forex losses three decades ago concluded earlier than scheduled to avoid the issue of Najib having to testify why he had opposed my call for an RCI in 1993?

A few hours after I issued a statement describing “the continued hearing on Sept. 18 of the farcical Royal Commission of Inquiry into Bank Negara foreign exchange losses a quarter of a century ago, while there is no RCI on the elephant in the room – the international multi-billion dollar 1MDB money-laundering scandal which turned Malaysia into a global kleptocracy overnight” as the sixth political disaster of the Prime Minister, Datuk Seri Najib Razak in a week, the Sidek RCI into the Bank Negara forex losses concluded earlier than scheduled.

Was the Sidek RCI into Bank Negara forex losses three decades ago concluded earlier than scheduled to avoid the issue why Najib is not testifying at the RCI to explain why he had opposed my call for a Royal Commission of Inquiry into the Bank Negara forex losses in 1993?

In his testimony before the RCI yesterday, former Prime Minister Tun Dr. Mahathir Mohamad revealed that Najib was among the ministers in a 1993 cabinet meeting who rejected my proposal at the time to set up a Royal Commission of Inquiry into Bank Negara foreign exchange losses.

I had at the time, some a quarter of a century ago, asked the then Finance Minister Datuk Seri Anwar Ibrahim to refer to the Cabinet to set up a RCI on Bank Negara’s forex losses. Read the rest of this entry »

5 Comments