Various global developments of the 1MDB scandal, which made Malaysian overnight into a global kleptocracy, are coming to a head and it may not be possible for the Najib government to continue with the national and international charade pretending that the 1MDB scandal does not exist.

Firstly, there is the news report from Los Angeles that the billions of US dollars of stolen 1MDB funds are now the focus of United States criminal investigation and that the US Justice Department has asked a judge in Los Angeles to put on hold civil forfeiture lawsuits against assets acquired by Malaysian financier Jho Low and others involved with 1MDB to prevent any hampering with the criminal investigation.

The US investigation is part of a global effort to track how much of the US$6 billion that 1MDB raised for development projects were stolen, embezzled or involved in money-laundering and used to pay for luxury real estate in New York, London and Beverly Hills, film productions, private jets, yachts and more – all for personal aggrandizement.

What is now the stand of the Attorney-General, Tan Sri Mohd Apandi Ali as it was only in June after the third kleptocratic suits by US DOJ to forfeit 1MDB-linked assets money-laundered through American banks that Apandi reiterated that “there has been no evidence from any investigation conducted by any law enforcement agency in various jurisdictions that show that money has been misappropriated from 1MDB; and that there have been no criminal charges against any individual for misappropriation of funds from 1MDB”?

No ostrich has dug it head so deep in the sand, despite Apandi’s exoneration of Najib of any wrongdoing or crime in the 1MDB scandal in January 2016 which had become increasingly ridiculous and unbelievable with the deluge of information and data on the 1MDB international money-laundering scandal, especially from the US Department of Justice kleptocratic suits. Read the rest of this entry »

By Edvard Pettersson
Bloomberg
August 11, 2017

The U.S. is moving forward with a criminal investigation into money stolen from a Malaysian state investment fund that allegedly was used to acquire about $1.7 billion in real estate, art, jewelry and other assets.

Court filings by the Justice Department Thursday show the U.S. is escalating its probe in a worldwide effort to track how much of the money that was raised by 1Malaysia Development Bhd. was used to pay for luxury real estate in New York, London and Beverly Hills, film productions, private jets, yachts and more.

Justice Department officials asked a judge in Los Angeles to put on hold civil forfeiture lawsuits against assets acquired by Malaysian financier Low Taek Jho, also known as Jho Low, and others involved with 1MDB because pursuing these cases may hamper the criminal investigation.

The U.S. investigation is part of a global effort to track how much of the $6 billion that 1MDB raised for development projects was allegedly embezzled or involved in money laundering. Switzerland, Singapore and Luxembourg are among the countries also investigating the roles played by banks and individuals. Read the rest of this entry »

Datuk Dzulkifli Ahmad thanked the heavens for having completed his first year as Malaysian Anti-Corruption Commission Chief Commissioner.

He said yesterday: “Alhandulillah, I survived.”

In his first year as MACC Chief Commissioner, the MACC had admittedly been very active when compared to previous chiefs whether of MACC or its predecessor, the Anti-Corruption Agency, in pursuing actions against corruption and the corrupt except in the biggest case of kleptocracy not only in Malaysia but in the world – the international multi-billion dollar 1MDB money-laundering scandal, which had even transformed Malaysia overnight into a global kleptocracy!

In fact, when on January 26, 2016 the Attorney-General Tan Sri Mohamad Apandi Ali cleared the Prime Minister, Datuk Seri Najib Abdul Razak of any wrongdoing on the RM2.6 billion found in the latter’s personal bank accounts, Dzulkifli was seated next to the chief prosecutor during the press conference, in his capacity as director of the Attorney-General’s National Revenue Recovery Enforcement Team.

It is clear that Dzulkifli had played a major role in the Attorney-General’s decision that Najib had not committed any wrongdoing on the RM2.6 billion “donation” in the Prime Minister’s personal bank accounts.

Dzulkifli should explain whether his appointment as Chief Commissioner of MACC came with two specific tasks – firstly, not to allow any investigation affecting Najib’s political survival, in particular the 1MDB scandal, and secondly, a free mandate to abuse the MACC to hound the Opposition? Read the rest of this entry »

The Parliament Speaker, Tan Sri Pandikar Amin Mulia should take a cue from the Attorney-General, Tan Sri Mohamad Apandi Ali’s refusal to send lawyers to the United States to intervene or observe the United States Department of Justice (DOJ) civil forfeiture of US$1.7 billion 1MDB-linked assets to revoke his ridiculous ruling banning Members of Parliament from asking questions or debating the 1MDB scandal in Parliament.

It is ridiculous for the Attorney-General to adopt the stance that the US DOJ forfeiture suits were unfounded, misconceived and baseless as there is no evidence that any 1MDB funds had been misappropriated or money-laundered, while on the other hand the Speaker of Parliament adopted the equally ludicrous stance that he has “extra-territorial” powers under the sub judice rule to protect the integrity, independence and impartiality of the American system of justice while completely impotent to protect the integrity, independence and impartiality of the Malaysian system of justice!

I had last week challenged Speaker Pandikar to cite an instance from another Commonwealth Parliament where the Speaker used sub judice rule to stop parliamentary question, debate or scrutiny of a local financial scandal because of court proceeding in another country but the Speaker has not been able to cite an instance so far and must be busy looking for such a precedent in another Commonwealth Parliament. Read the rest of this entry »

By Elffie Chew
Bloomberg
August 1, 2017

1Malaysia Development Bhd. failed to make a $603 million payment to Abu Dhabi’s sovereign wealth fund as part of a settlement over a debt dispute, according to a person with knowledge of the matter.

International Petroleum Investment Co. is expected to make an announcement in London on Tuesday, said the person who asked not to be identified as the information isn’t public yet.

The obligation, which was due on July 31, is half the amount 1MDB and the Malaysian finance ministry agreed to make to IPIC, with a second payment by the end of 2017. 1MDB and the Ministry of Finance didn’t immediately respond to emails seeking comment on the non-payment. Read the rest of this entry »

It is the height of government irresponsibility and professional negligence on the part of the Cabinet and the Attorney-General’s Chambers not to have legal representation in the United States Department of Justice (DOJ) kleptocratic suits to forfeit US$1.7 billion of 1MDB-linked assets in the United States, United Kindom and Switzerland from money-laundering of US$4.5 billion misappropriated from 1MDB.

The answer from the Minister in the Prime Minister’s Department, Datuk Seri Azalina Othman that the Attorney-General’s Chambers has no plans to send lawyers to the US to observe the DOJ’s civil forfeiture suits on 1MDB-linked assets is most shocking indeed.

If the Najib government is consistent, isn’t the Attorney-General’s Chambers seeking an intervention in the US DOJ proceedings to prove that the US DOJ civil forfeiture proceedings are completely misplaced, as both the Malaysian government and the 1MDB had not lost a single sen and that no 1MDB funds had been money-laundered through Americans banks to the tune of US$4.5 billion with US$1.7 billion of 1MDB-linked assets the subject of kleptocratic assets forfeiture proceedings?
Read the rest of this entry »

The setting up of an integrity unit in all government-linked companies and ministry-owned business entities to curb graft announced by the Prime Minister, Datuk Seri Najib Razak at the 13th Invest Malaysia Kuala Lumpur conference yesterday will only end up as meaningless “PR” exercises unless the Prime Minister and the entire Cabinet have the political will to be examples of zero tolerance of corruption.

This political will to ensure “zero tolerance for corruption” should start from the very top from the Prime Minister downwards, and should begin with comprehensive investigations and satisfactory accounting of the international multi-billion dollar 1MDB money-laundering scandal, which had transformed Malaysia overnight into a global kleptocracy. Let a Royal Commission of Inquiry into the 1MDB scandal be established.

The Prime Minister should know better than anyone that Malaysian leaders have lost the moral high ground, whether at home or in the international arena, to talk about ethics, morality, integrity and good governance so long as Malaysia is tarred and tainted with the odious appellation of a global kleptocracy and the Malaysian government is unable to do anything to clear or cleanse Malaysia of such infamy and ignominy.
Read the rest of this entry »

Yesterday was the eighth anniversary of the murder of an idealistic young Malaysian, Teoh Beng Hock in Shah Alam, who died because of a baseless allegation of corruption involving RM2,400 for 1,500 Malaysian flags used in the Merdeka celebrations in 2008, where the institutions of state were misused by the powers-that-be to persecute political opponents.

If a RM2,400 case could cost a life to be lost, how many lives should be lost over the 1MDB financial scandal?

The 1MDB scandal, which catapulted Malaysia into stratospheric infamy as a global kleptocracy, is one of astronomical proportion and could involve RM50 to RM55 billion – which means that some 100 million people (more than three times the population of Malaysia) would have to die if a person’s life could be lost over a RM2,400 allegation.

This highlights the monstrosity of the 1MDB scandal!

Recently, there were glowing reports about the benevolence of one 1MDB mastermind, Penang billionaire Jho Low, who donated hundreds of millions of ringgit to charitable foundations.

This was also about the time when the Prime Minister, Datuk Seri Najib Razak declared that “Not everything about the 1MDB is bad or negative” and lamented that many Malaysians were unaware that 1MDB had contributed a lot of good in many ways, like spending RM57 million since 2011 to finance 5,700 Malaysians to perform the haj. Read the rest of this entry »

Former Prime Minister, Tun Dr. Mahathir Mohamad made a valid point when he asked the UMNO youth leader and Minister for Youth and Sports, Khairy Jamaluddin, why he is afraid of “old men” in politics because Khairy had asked Mahathir, Datuk Seri Anwar and I myself to retire from politics.

While we wait for Khairy’s reply, just as I am waiting for Khairy to elucidate the mysterious reason he had given asking for my retirement from politics, Khairy should explain why he is being overshadowed not only by “old men” in Pakatan Harapan, but also by “old men” in UMNO!

Khairy, who may regard himself as the greatest gift to Malaysians, has failed to stand heads-and-shoulders over the “half-past six” and “deadwood” Ministers in the Najib Cabinet which he joined in 2013 – an eloquent but sad testimony of the mediocrity of an Oxonian. Read the rest of this entry »

By Shamim Adam and Laurence Arnold
Bloomberg
16 June 2017

Malaysia’s state-owned investment fund, 1MDB, was supposed to attract foreign investment. Instead, it has spurred criminal and regulatory investigations around the world that have cast an unflattering spotlight on financial deal-making, election spending and political patronage under Prime Minister Najib Razak. A Malaysian parliamentary committee identified at least $4.2 billion in irregular transactions.

1. What is 1MDB?

It’s a government investment company — full name, 1Malaysia Development Berhad — that took shape in 2009 under Najib, who went on to lead its advisory board. Its early initiatives included buying privately owned power plants and planning a new financial district in Kuala Lumpur. The fund proved better at borrowing — it accumulated $12 billion in debt — than at luring large-scale investment. Read the rest of this entry »

By Andrea Tan and Chanyaporn Chanjaroen
Bloomberg
12 July 2017

Prosecutors in Singapore said Malaysian financier Low Taek Jho is the central figure in probes linked to 1Malaysia Development Bhd., and that he used money traceable to the state fund for his own benefit.

Low received “huge” sums of money, the prosecutors said in court filings made public on Wednesday. About $1 billion that 1MDB was purported to invest in a joint venture with PetroSaudi International Ltd. was diverted to a bank account beneficially owned by Low, according to the filings.

“The main victim in this case is 1MDB,” prosecutor Nathaniel Khng said in a Singapore state court. “Jho Low has gone missing from the public eye.”

Singapore’s investigations into 1MDB-related activities has so far seen five people convicted, four of whom have been sentenced to jail. The city-state is the only country so far to have criminally charged bankers. Read the rest of this entry »