Archive for category Financial Scandals

King Salman could not say RM2.6 billion in Najib’s personal banking account was his donation because Saudi Arabian king knows that the US DOJ legal suit to confiscate US$1 billion 1MDB-linked assets had traced the “to and fro” money trail of the RM2.6 billion

UMNO Ministers and leaders have been trying to exploit the four-day visit of King Salman of Saudi Arabia to Malaysia as proof that there was nothing hanky-panky about the RM2.6 billion in the Prime Minister, Datuk Seri Najib Razak’s personal banking account in 2013, and even claiming that Salman’s silence could only mean confirmation that the RM2.6 billion in Najib’s personal banking account had come from Saudi Arab royal circles.

These claims are of course nonsensical and preposterous, and as I said in Johor Baru four days ago, the most significant thing about King Salman’s visit to Malaysia was not what was said or done by the Saudis, including the signing of the US$7 billion (RM31 billion) agreement by Saudi Aramco to take a 50 per cent stake in Petronas’ Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang but what was not said about the RM2.6 billion “donation” in Najib’s personal bank accounts.

I am not surprised that an UMNO leader said that this was my most “dungu” (idiotic) remark to date, for what intellectual capability can one expect from the UMNO leadership when an UMNO Minister could tell ten lies in a short five-paragraph statement while the UMNO Information leader could tell more than eight lies in another short statement, and both of them dared not accept my challenge to a joint media conference for me to point out their lies one by one?

UMNO leaders who claim the Saudi Arabia’s King Salman’s visit to Malaysia is a sort of vindication of Najib’s innocence in the RM2.6 billion donation scandal have too low an opinion of both King Salman and the Malaysian public.

There is no way that Salman is unaware of Najib’s RM2.6 billion donation and RM52 billion 1MDB scandal is Najib’s greatest Achilles’ heel. Just google-search “1MDB” and you will get 3.7 million results in 2.8 seconds.

The reason why Salman could not say RM2.6 billion in Najib’s personal banking account was his donation is very simple – the Saudi Arabian king knows that the US Department of Justice (DOJ) legal suit to confiscate US$1 billion 1MDB-linked assets, is a public document in black and white, and it had traced in detail the “to and fro” “money trail” of the so-called RM2.6 billion “donation”, establishing beyond a shadow of doubt that they could not be a donation from Saudi Arabian royal circles. Read the rest of this entry »

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Jho Low, Victim of His Own Success?

finews.asia
Friday, 3 March 2017

Malaysian financier Jho Low is alleged to be the mastermind behind the convoluted labyrinth of offshore vehicles involved in pilfering billions from 1MBD. Has he done too good a job at hiding the assets?

U.S. prosecutors allege that billions were pilfered from Malaysia’s 1MDB. Instead of financing the country’s development, prosecutors allege that millions were spent on luxury hotels like the Park Lane in New York, fine art by Vincent Van Gogh and Claude Monet, a recording catalogue and even financing for the Hollywood blockbuster «The Wolf of Wall Street».

The scandal has engulfed Swiss banks, many of whom acted as a pass-through in Singapore for money to move elsewhere, though the scandal has also reached Zurich itself.

The fate of hundreds millions in luxury assets is currently being duked out in a Los Angeles courtroom, where Jho Low and his family are trying to stop assets being seized by U.S. officials. Read the rest of this entry »

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Most significant thing about King Salman of Saudi Arabia’s four-day visit is not what was said or done by the Saudis, but what was not said about the RM2.6 billion “donation” in Najib’s personal bank accounts

King Salman of Saudi Arabia’s four-day visit to Malaysia has ended.

The most significant thing about King Salman’s visit to Malaysia is not what was said or done by the Saudis, including the signing of the US$7 billion (RM31 billion) agreement by Saudi Aramco to take a 50 per cent stake in Petronas’ Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang but what was not said about the RM2.6 billion “donation” in Najib’s personal bank accounts.

Three days ago, a “kangkong” professor said that the Saudi King’s visit vindicated the Prime Minister, Datuk Seri Najib Razak on the RM2.6 billion donation in his personal bank accounts.

He said: “Previously, there was a leader who said that even a mad Arab would not give such a colossal sum. But the presence of King Salman is sufficient to prove Najib was telling the truth that the RM2.6 billion was a donation from the Saudi royal family.”

It is fortunate that this “kangkong” professor did not end up as a judge, as no sane or rational person could understand his “perverse illogic”.

The argument that King Salman would not have set foot in Malaysia if Najib had “slandered” the Saudi royal family does not hold water, for how can King Salman omit an OIC country like Malaysia in a month-long Asian tour, covering six other countries, viz Indonesia, Brunei, Japan, China, Maldives and Jordan – four of which are members of the Organisation of Islamic States (OIC)?

What was most conspicuous in Salman’s visit is the Saudi Arabian silence and refusal to confirm that the RM2.6 billion in Najib’s private banking accounts came from the Saudi royal family. Read the rest of this entry »

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An important note for 60th National Day celebrations – Najib has achieved in eight years what none of the five previous Prime Ministers had done in 52 years

Malaysia will be celebrating our 60th National Day celebrations on August 31, 2017.

It will be an important note for our 60th National Day celebrations that the Prime Minister, Datuk Seri Najib Razak, has achieved in eight years what none of the five previous five Prime Ministers – Tunku Abdul Rahman, Tun Razak, Tun Hussein, Tun Mahathir and Tun Abdullah – had done in 52 years.

Firstly, Malaysia has become a global kleptocracy since Najib became Prime Minister in April 2009.

Although Najib and his Cabinet keep up a pretence and a façade that the international multi-billion dollar 1MDB kleptocratic money-laundering scandal does not exist, the “ghost” of the 1MDB scandal would not go away, for almost every other day, there would be new developments resulting in 1MDB world headlines in some part of the world. Read the rest of this entry »

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The Danger of Najibizing Malaysia’s Foreign Policy

By Prashanth Parameswaran
The Diplomat
February 15, 2017

Recent controversies over the country’s foreign policy decisions are the product of a broader problem.

On February 2, Malaysia revived a decades-old dispute with neighboring Singapore over the islet of Pedra Branca/Batu Puteh, complicating a historically rocky bilateral relationship that has been stable of late. Though Malaysia claimed that the application to revise the 2008 International Court of Justice (ICJ) judgement that was in Singapore’s favor is grounded in its discovery of newly unearthed documents, some dismissed the move as posturing by the government led by Prime Minister Najib Razak ahead of Malaysia’s upcoming elections.

While Malaysian officials have rejected claims that the decision was politically motivated, the truth matters less than the doubts being raised. The reemergence of the dispute is just the latest example the reveals a more fundamental problem: that the perception Najib is acting in his own personal interest rather than the national interest is increasingly undermining the execution of Malaysia’s foreign policy. Though this perceived “Najibization” of Malaysia’s foreign policy may benefit certain groups, it also poses greater dangers for the country. Read the rest of this entry »

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1MDB Roils Opaque Fine Art Market

finews.asia
22 February 2017

Scandal-engulfed 1MDB has roiled the opaque market for fine art, an $64 billion industry where deals of several hundred thousand dollars can be clinched with no questions asked.

Jho Low allegedly spent millions on a Hollywood film, penthouses, luxury hotels, a recording company – and fine art. Last year, Monet’s «Water Lilies with Reflections of Tall Grass» was seized in a Swiss freeport as part of an investigation into alleged graft at 1MDB.

Freeports, one of the last remaining vestiges of Swiss private banking secrecy, have come under increased scrutiny – as now has the art world. Read the rest of this entry »

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Nor Mohd Yakcop should resign or be sacked or suspended as Khazanah Nasional Deputy Chairman if the Cabinet is serious about probe into Bank Negara forex losses in the 1990s

Tan Sri Nor Mohamed Yakcop should resign or be sacked or suspended as Khazanah Nasional Bhd Deputy Chairman if the Cabinet is serious about probe into Bank Negara foreign exchange (forex) losses in the 1990s.

This is because Nor Mohamed Yakcop was the chief operator of Bank Negara’s forex speculation which resulted in colossal losses which could total some RM30 billion.

Former Finance Minister, Datuk Seri Anwar Ibrahim said when he appeared in court yesterday that Nor Mohamaed Yakcop was complicit in the Bank Negara forex losses in early 1990s when the latter was then a senior Bank Negara official.

He made a revelation when he said that as Finance Minister at the time, he had asked for Nor’s resignation but this was not allowed. Read the rest of this entry »

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With Anwar’s support and offer of assistance, there is even less reason to delay RCI into Bank Negara forex losses more than 20 years ago, as well as probe into 1MDB and BMF scandals

Malaysians welcome Anwar Ibrahim’s support for a Royal Commission of Inquiry (RCI) into the Bank Negara foreign exchange (forex) losses in the 1990s and his offer of assistance if the RCI was established but not a Cabinet task force.

With Anwar’s support and offer of assistance, there is even less reason to delay the establishment of a Royal Commission of Inquiry into the Bank Negara forex losses more than 20 years ago, as well as probe into the 1MDB and BMF scandals.

Anwar’s support and offer of assistance are most significant, as Anwar was the Finance Minister at the relevant period of the Bank Negara forex losses, being Finance Minister of the country from 1991-1998. Read the rest of this entry »

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Where Crony Capitalism Rose and Prosperity Fell (and Vice Versa)

Matthew A. Winkler
Bloomberg
FEB 20, 2017

With populists emulating autocrats from Azerbaijan to Zimbabwe, free markets are being forced to confront crony capitalism.

One response is visible in the reversal of fortunes of Malaysia and Indonesia. The two nations still wrestle with the politics of ethnicity and religion at odds with the capitalism of market competition. In Indonesia, Basuki Tjahaja Purnama, a Chinese Christian who is the governor of Jakarta, is running for office while defending himself against charges of blasphemy against Islam in a country of predominantly Muslim voters. Malaysia’s embrace of an ideology of Malay supremacy and the low interest rates that invite a debt bubble are impediments to a dynamic economy.

But the historic advantage that Malaysia, with just 30 million people, has enjoyed over its Southeast Asian neighbor of 250 million is disappearing amid a barrage of corruption allegations challenging Prime Minister Najib Razak. Read the rest of this entry »

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Annuar Musa’s statement is an example of what a patriotic Malaysian should not be – full of venom, hatred, prejudice even lies and deceit

In my 76th birthday statement yesterday, I expressed the hope that Malaysians will try to be more Malaysian in their thinking, outlook and responses regardless of race, religion, region or culture.

This is because Malaysia’s diversity of races, languages, religions and cultures is the nation’s greatest strength and asset.

Malaysia should be the showcase of peace, tolerance, understanding, inter-action and unity of diverse races, religions and cultures in the world to build a new global civilization of justice, freedom, dignity and excellence of humanity.

I want to thank the UMNO Information chief, Datuk Seri Annuar Musa for personifying the very anti-thesis of a such model Malaysian, as illustrated by his statement rejecting my offer to speak at the UMNO/BN nation-wide roadshow on the Cabinet’s decision to set up special task force to probe Bank Negara’s forex losses more than two decades ago.

Annuar Musa’s statement is “must study” by all Malaysians, regardless of race, religion or political affiliation, for it is a statement no patriotic Malaysian should ever make – steeped with venom, hatred, distrust, prejudice even lies and deceit!

I do not know why the UMNO leadership is so frightened of me, that its Information Chief had to invent eight reasons why I would not be welcome on the UMNO/BN roadshow on the government probe into the Bank Negara’s forex losses more than two decades ago.

Does Annuar know that he had told eight lies in his statement yesterday? Read the rest of this entry »

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Himpunan PAS RUU 355 : A Big Flop

Koon Yew Yin
21.2.2017

The recent PAS RUU rally in support of the private member’s bill tabled by PAS president Abdul Hadi Awang, to amend the Shariah Courts (Criminal Jurisdiction) Act 1965 turned out to be a damp squib or in simple English – a big flop!

It was a flop in several ways. Firstly, although PAS had targeted a crowd of 300,000 to show the country that the Malay electorate was behind the controversial amendment, police and analysts estimated the crowd at only 20,000. The turnout – so much smaller than even Bersih or Hindraf organized past rallies – not only shows that this issue does not resonate with the Malay public. It also shows that the reputed grassroots support for PAS has been overrated.

Although in the past we have seen the organizational ability of PAS in drawing the Malay Muslim crowd to rally alongside non-Muslims in Bersih and Pakatan rallies, this time round the Malay public stayed away.

If the thinking in PAS ulama leaders led by Hadi is that his proposed amendments would serve as its main political strategy in order to attract greater support, it is clear that grassroots supporters do not want to give wider powers to shariah courts and to be made use of by Hadi in his ambition to push for an Islamic state in Malaysia.

Which Malay in his right mind wants to see an increase in maximum punishment for shariah offences to 30 years’ jail, fine of up to RM100,000 and up to 100 strokes of the cane for offences?

Which rational Malaysian wants to see the introduction of a two tier legal system in which Muslims will be discriminated against as proposed by Hadi and his men, and which could also result in hudud law being a reality in our multi-racial Malaysia? Read the rest of this entry »

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Malaysia PM stepson’s lawyers warning to DOJ: Don’t undermine 1MDB

The Independent
February 19, 2017

Lawyers of Malaysian Prime Minister Najib Razak’s step son Riza Aziz taunted the American justice not to take the closure of the 1MDB case in Malaysia lightly.

In documents submitted by the lawyers Riza Aziz – to fight back against the US Department of Justice (DOJ) attempt to seize his property in the US – the lawyers said:

“Seizure of the assets would require a US court to ‘second-guess and undermine’ a decision made by Malaysia’s attorney-general.

Mohamed Apandi Ali, the attorney-general, has ordered Malaysia’s anti-corruption agency to close an investigation into the transfer of $681m into the prime minister’s personal bank account, ruling that the money was a donation.

Apandi Ali also shut down a separate inquiry into SRC International, a 1MDB subsidiary. Read the rest of this entry »

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I volunteer to speak at the UMNO/BN nation-wide roadshow on the Cabinet’s decision to set up special task force to probe Bank Negara’s forex losses more than two decades ago

Umno information chief Datuk Seri Annuar Musa has announced that Umno and Barisan Nasional (BN) component parties will be going on a nationwide roadshow to inform the public about the special task force set up by the Cabinet to probe Bank Negara Malaysia’s (BNM) foreign exchange trading losses in the 1990s.

He said that the roadshow, scheduled to start on Feb 25, was mooted following attempts by certain parties to question the need for a task force.
Last Friday, I responded promptly to the Minister in the Prime Minister’s Department, Datuk Seri Azalina Othman Said, who said that I should assist the special task force set up to probe the foreign exchange losses incurred by Bank Negara more than two decades ago as I had been so vocal in the 1990s in the Dewan Rakyat bringing up various motions to propose the setting up of a Royal Commission of Inquiry (RCI) to probe the losses.

I declared that I am prepared to serve on a public probe into Bank Negara forex losses, but the scope of investigations should be expanded to cover the BMF and 1MDB scandals, in view of the new dimension of the country suffering the ignominy and infamy of being regarded worldwide as a global kleptocracy because of the international multi-billion dollar 1MDB money-laundering scandal touching the honour, credibility and integrity of the Prime Minister, Datuk Seri Najib Razak himself.

But there is thunderous silence from Azalina in the past three days. Read the rest of this entry »

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‘Wolf of Wall Street’ Financier Challenges U.S. Government’s 1MDB Seizures

by Eriq Gardner
The Hollywood Reporter
FEBRUARY 16, 2017

Red Granite co-founder Riza Aziz says through court documents he’s an “innocent owner” of assets allegedly derived from embezzlement.

In court papers quietly filed this past week, various entities connected to Red Granite Pictures co-founder Riza Aziz are attacking the U.S. government’s attempt to seize real estate properties in the huge $1 billion action targeting alleged corruption of Malaysian public funds.

The Justice Department has touted the 1MDB case as its biggest kleptocracy case to date, but Aziz’s lawyer, Matthew Schwartz, a former assistant U.S. attorney who once prosecuted Bernie Madoff, slams the U.S. government for failing to include “essential detail” about the supposed crimes. He’s demanding a dismissal.

Aziz is the stepson of Malaysian Prime Minister Najib Razak and, along with Joey McFarland, founded Red Granite, which financed The Wolf of Wall Street, Dumb and Dumber To and Friends With Kids.

Back in July, the Justice Department made its big move by seeking the civil forfeiture of rights to Wolf of Wall Street, Martin Scorsese’s Oscar-nominated film, as well as other assets allegedly traced to foreign corruption.

According to the government, high-level officials in Malaysia diverted assets into a fund called 1Malaysia Development Berhad (1MDB) and then into shell companies with the assistance of big banks, including Goldman Sachs. Some of the money, it’ is asserted, went into Red Granite productions, and now the government is looking to claw proceeds.

Later this month, Red Granite is due to file its response to the government’s attempt to seize rights to Wolf of Wall Street, and, in advance of this, Aziz’s lawyers have foreshadowed the line of attack in motions to dismiss separate complaints filed over real estate property in Beverly Hills, New York and London. Read the rest of this entry »

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I am prepared to serve on public probe into government financial scandals, provided its terms of reference includes 1MDB and BMF scandals

I arrived in Gelang Patah from Kuala Lumpur and my attention has been drawn to the statement by the Minister in the Prime Minister’s Department, Datuk Azlalina Othman Said, who said that I should assist the special task force set up to probe the foreign exchange losses incurred by Bank Negara more than two decades ago.

Azalina said I should be the first man to support the task force.

She said:

“This is because he was so vocal in the 1990s in the Dewan Rakyat by bringing up various motions to propose the setting up of a Royal Commission of Inquiry (RCI) to probe the losses.

“Thus, this is the best opportunity for him to prove he had basis to bring up the motions in 1993 and 1994. He should assist the task force by reviewing thoroughly all the relevant facts. Or, was he just confusing the House at the time?” Read the rest of this entry »

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Ministers have shown that they lack Malaysian patriotism as they are indifferent and unmoved by Malaysia’s infamy and ignominy of being regarded worldwide as a global kleptocracy as a result of 1MDB international money-laundering scandal

All Barisan Nasional Ministers are not only guilty of colossal negligence and irresponsibility of the first degree when at Wednesday’s Cabinet meeting, they could set up a special task force (STF) to conduct a probe into Bank Negara forex losses more than two decades ago but dare not breathe a word on the monstrous 1MDB kleptocratic money-laundering scandal, they have done worse.

They have shown that they lack Malaysian patriotism, that they could be indifferent and unmoved by Malaysia’s infamy and ignominy of being regarded world-wide as a global kleptocracy.

At the last Parliamentary meeting, I had explained that kleptocracy is a government of 3Ps – Pencuri, Perompak and Penyamun.

Which Malaysian who loves Malaysia and is patriotic can be indifferent to the country’s shame, infamy and ignominy of being regarded as a global kleptocracy – when even ordinary Malaysians fight shy of admitting that they are Malaysians when abroad for they will be confronted with a load of questions about Malaysia being a global kleptocracy!

I call on all Barisan Nasional Ministers to resign as Ministers if they are not prepared to do anything to give top priority to clear or purge Malaysia of the infamy and ignominy of being regarded worldwide as a global kleptocracy.

Are there no other leaders in the 13 parties in Barisan Nasional who are patriotic enough to want to make the clearing or purging of Malaysia’s international infamy and ignominy as a global kleptocracy the top national agenda of the country?

If so, then it is a very sad day for Malaysia, when even the PAS President Datuk Hadi Awang has no problem with Malaysia being regarded worldwide as a global kleptocracy so long as Muslims are the leaders in the country – ignoring the fact that even if UMNO is ousted from Putrajaya in the next general elections by Pakatan Harapan and Bersatu, it is a Malay and Muslim who will be Prime Minister and not a non-Malay or a non-Muslim. Read the rest of this entry »

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All Cabinet Ministers guilty of colossal negligence and irresponsibility of the first degree when they could set up a special task force (STF) to conduct a probe into Bank Negara forex losses more than two decades ago but dare not breathe a word on the monstrous 1MDB kleptocratic money-laundering scandal

ll Cabinet Ministers are guilty of colossal negligence and irresponsibility of the first degree when they could set up a special task force (STF) to conduct a probe into Bank Negara forex losses more than two decades ago but dare not breathe a word on the monstrous 1MDB kleptocratic money-laundering scandal.

Only yesterday, a Swiss newspaper gave a two-page spread to what it described as “Biggest Misappropriation of Funds in History”, referring to the international multi-billion 1MDB kleptocratic money-laundering scandal, in a coverage under the headline “LA FACE SUISE D’UN SCANDAL” which is google-translated as “THE SWISS FACE OF A SCANDAL” with photographs of the Malaysian Prime Minister, Datuk Seri Najib Razak in the company of Justo, Sturzengger and Di Caprio, with Najib described as “L’INSTIGATUR” (“THE INSTIGATOR”).

But all the Ministers of the Najib Cabinet yesterday preferred to play the role of traditional three monkeys, with eyes that see not, with ears that hear not, with mouths that speak not what the whole world and Malaysians can see, hear and speak – to the extent that Malaysia is regarded worldwide as a new and instant “global kleptocracy” under the sixth Malaysian Prime Minister, Datuk Seri Najib Razak. Read the rest of this entry »

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Zahid should explain why security at KLIA is so lax that it could become playground for foreign agents to assassinate half-brother of North Korean leader Kim Jong Un

Deputy Prime Minister and Home Minister, Datuk Seri Zahid Hamidi should explain why security at the Kuala Lumpur International Airport (KLIA) is so lax that it could become playground for foreign agents to assassinate North Korea leader Kim Jong Un’s half brother, Kim Jong Nam, 46.

As far as bad news for Malaysia on the world stage, the phrase “it never rains but it pours” is most apt.

Today, a Swiss newspaper gave a two-page spread to what it described as “Biggest Misappropriation of Funds in History”, referring to the international multi-billion 1MDB kleptocratic money-laundering scandal, in a coverage under the headline “LA FACE SUISE D’UN SCANDAL” which is google-translated as “THE SWISS FACE OF A SCANDAL” with photographs of the Malaysian Prime Minister, Datuk Seri Najib Razak in the company of Justo, Sturzengger and Di Caprio, with Najib described as “L’INSTIGATUR” (“THE INSTIGATOR”).

But all over the world, the headline news today is about the police manhunt in Malaysia after the half-brother of the North Korean leader was assassinated at the KLIA on Monday after being attacked with a chemical spray or needle. Read the rest of this entry »

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Anifah must surface to clear the air or Sabahans and Malaysians cannot be blamed for concluding that some political power play is taking place among the top echelons of the UMNO leadership

In the last 24 hours, Sabah has suddenly become the epicentre of a political storm in Malaysia.

It all started with a tweet by the Selangor Mentri Besar, Datuk Azmin Ali asking whether a senior minister had resigned over the 1MDB imbroglio.

Then the Prime Minister, Datuk Seri Najib Razak, got into the picture himself, declaring last night that he was not informed of any resignation from his ministers.

He demanded Azmin reveal the name of the said minister to prove he wasn’t lying.

Azmin countered by saying that Najib denying the claim was not a surprise, declaring that he had been informed of this by the minister himself.

For some 18 hours, the social media swirled with the subject as to whether a senior Minister had resigtned, whether it was because of 1MDB and the identity of the Minister.

Then the Deputy Prime Minister, Datuk Seri Ahmad Zahid gave a face to the senior Minister in the social media storm, that it was none other than the Foreign Minister, Anifah Aman, but the Zahid accused Azmin of lying, saying that there was no resignation tendered by any senior minister, and that he was with Anifah last night and that “today, he has gone to Brussels representing Malaysia as the Foreign Minister”.

Although Zahid claimed that he had attended a Sabah UMNO event with Anifah and the Sabah Chief Minister, Datuk Musa Aman, and he had even posted a picture of himself and Anifah through Twitter, he Deputy Prime Minister should know that his explanation lacks credibility.

As the social media storm had erupted last night about a senior minister resigning over the 1MDB scandal, with the finger pointed at Anifah, why didn’t Anifah rebut the story before he left for Brussels?

Zahid and Anifah should know that in this age of information 24/7, there is no way a person can hide from the public wherever in the world.

Anifah must surface to clear the air or Sabahans and Malaysians cannot be blamed for concluding that some political power play is taking place among the top echelons of the UMNO leadership. Read the rest of this entry »

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Let not Malaysia gain a new world infamy and ignominy as a nation which does not know shame for becoming a global kleptocracy

I fully agree with the DAP PJ Utara MP, Tony Pua, that the Minister for Communications and Multimedia, Datuk Seri Said Keruak is “completely untutorable” on the BMF, Bank Negara forex and 1MDB scandals, when Salleh could insist he was right and even brilliant to say that the Bumiputera Finance Scandal in the 1980s is worse than the ongoing 1MDB scandal as the government’s “real exposure” in 1MDB scandal is only RM1 million in its initial paid-up capital.

I tried to help Salleh understand the implications and magnitude of the 1MDB scandal, which for the first time in the nation’s history, has plunged the country into the international infamy of a global kleptocracy, suggesting three separate tutors for him for the BMF, Bank Negara forex and 1MDB scandals but it was in vain for Salleh was not prepared to be educated.

As Tony pointed out, Salleh is spinning a story that even the CEO for 1MDB, Arul Kanda has stopped spinning since a year ago – that the government exposure to the 1MDB scandal is only RM1 million, an incredibly naïve understanding of the 1MDB scandal which even students in schools would not be guilty of.

It is obvious that Najib’s Cabinet Ministers, not very outstanding in their IQs, also feel embarrassed by Salleh’s incredible naivetee, and have virtually given up on Salleh who has shown that he is “untutorable” on the BMF, Bank Negara forex and 1MDB scandals.

This was why the Cabinet at its meeting on Wednesday, discussed the possibility of a Royal Commission of Inquiry (RCI) or some official probe into Bank Negara forex losses more than two decades ago.

If Youth Minister, Khairy Jamaluddin was right on the Cabinet meeting, there was no mention not only of the current 1MDB scandal but also the BMF scandal more than three decades ago. Read the rest of this entry »

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