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Equanimity, the luxury US$250 million yacht that belonged to Jho Low, a flamboyant international financier who allegedly played a central role in the 1MDB controversy that has engulfed Malaysian former prime minister Najib Razak. Photo: AFP
NAJIB RAZAK CHARGED WITH MONEY LAUNDERING AS 1MDB CASE DEEPENS
In twist of irony, latest charges facing Malaysia’s disgraced ex-leader come under an act that he himself strengthened in 2014
8 AUG 2018
Legal pressures on Malaysia’s disgraced former leader Najib Razak deepened sharply on Wednesday as prosecutors brought fresh charges against him for his alleged links to the multibillion-dollar financial scandal at the 1MDB state fund. Already facing four criminal charges over the case, Najib, 65, was charged in the Kuala Lumpur High Court Complex under an anti-money-laundering act that the ex-prime minister had toughened with stiffer penalties in 2014. Dressed in a dark blue suit and wearing a calm demeanour, Najib pleaded not guilty to three counts of money laundering. The former premier, currently out on bail for the first tranche of charges, did not have to post a fresh bond. High Court Judge Mohamad Nazlan Ghazali said trial dates will be set on Friday. Najib stands accused of receiving proceeds totalling 42 million ringgit (US$10 million) from “unlawful activities” on three occasions, according to the new charge sheets.
Malaysia’s former prime minister Najib Razak arrives at the court complex in Kuala Lumpur. Photo: AFPOnline,
Malaysians displayed their continued astonishment at the sight of their former prime minister appearing in court for an arraignment for the second time in two months. The event was beamed live on Facebook by news outlets. Najib’s latest money laundering charges each carry a maximum sentence of 15 years in jail and a fine. The four charges brought against him in July – three counts of criminal breach of trust and one count of abuse of power – each carry a maximum 20-year jail sentence. 1MDB case must be watertight, says Malaysia’s Mahathir. All the charges are linked to SRC International, a former subsidiary of the 1MDB state fund founded by Najib. Some US$4.5 billion is alleged to have been misappropriated from the fund during Najib’s nine-year tenure as prime minister. The latest development comes just a day short of the three-month mark of the former leader’s defeat at the May 9 general election by his one-time mentor Mahathir Mohamad … for more, go to https://www.scmp.com/week-asia/politics/article/2158726/najib-charged-money-laundering-1mdb-case-deepens
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Malaysia’s federal debt worse than anyone would have imagined pre-GE14!
Yes, there is no doubt in the minds of the majority of Malaysians who cast their ballots in the May 9 14th General Election (GE14) that the Umno-led Barisan Nasional (BN) regime was corrupt to the core.
They created history by giving the BN the boot out of Putrajaya for a Pakatan Harapan (PH) federal government to engineer a New Malaysia.
Also, yes, a Dr Mahathir Mohamad (Dr M) rejuvenated Pakatan Rakyat (PR) to PH made many electoral promises for Malaysians’ new hope.
However, Dr M and his PH comrades (formerly bitter political foes) inherited “hell” in Putrajaya.
They had misjudged or miscalculated the depth of the BN federal government’s trail of disastrous humongous debts that ran into trillions of ringgit - and still counting after more than 100 days.
That's not surprising as almost every financial decision under the Najib-led BN regime was classified as "Official Secrets". Imagine, even Finance Ministry officials had no access to so-called "red files"!
"Guan Eng shocked that Finance Ministry officials blocked from 'red files'
NATION
Tuesday, 22 May 2018
5:15 PM MYT
by martin carvalho
PUTRAJAYA: Finance Minister Lim Guan Eng (pic) was shocked that Finance Ministry officials were denied access to certain accounts, while so-called "red files" were only accessible to certain parties.
He said the shocking revelation came to light during a briefing on his first day as Finance Minister.
"It is clear that the previous government has conducted an exercise of deception to the public about certain hot-button items, especially 1MDB and even misrepresented the financial situation to Parliament," he told reporters at a press conference here on Tuesday (May 22).
He said most red files were connected to 1MDB and other items.
"We want to make sure that there are no more red files," he added.
On the country's fiscal situation, Lim said that the nation's debt was actually above RM1 trillion.
He added that these figures would be made much clearer once the relevant statistics from the relevant ministries are consolidated.
Lim noted that the nation's fundamentals were still strong and that necessary adjustments would be made to meet the challenges."
"Guan Eng shocked that Finance Ministry officials blocked from 'red files'
NATION
Tuesday, 22 May 2018
5:15 PM MYT
by martin carvalho
PUTRAJAYA: Finance Minister Lim Guan Eng (pic) was shocked that Finance Ministry officials were denied access to certain accounts, while so-called "red files" were only accessible to certain parties.
He said the shocking revelation came to light during a briefing on his first day as Finance Minister.
"It is clear that the previous government has conducted an exercise of deception to the public about certain hot-button items, especially 1MDB and even misrepresented the financial situation to Parliament," he told reporters at a press conference here on Tuesday (May 22).
He said most red files were connected to 1MDB and other items.
"We want to make sure that there are no more red files," he added.
On the country's fiscal situation, Lim said that the nation's debt was actually above RM1 trillion.
He added that these figures would be made much clearer once the relevant statistics from the relevant ministries are consolidated.
Lim noted that the nation's fundamentals were still strong and that necessary adjustments would be made to meet the challenges."
The majority of Malaysians still believe PH will fulfil its electoral promises but they will need more than 100 days - even up till the next general election (GE15) - to clear the trillions of mess and get Malaysia back on its right footing.
Read the following for more:
"EVEN MARIA CHIN SHOCKED AT ‘HOW DEEP’ THE DEBTS RACKED UP BY NAJIB REGIME: ‘I AGREE WITH DR M THE MANIFESTO HAS TO BE REVIEWED – WE HAVE TO TIGHTEN THE BELT BUT WE WILL KEEP OUR PROMISES & IMPROVE ON ANY GAPS’
Politics | September 16, 2018
PETALING JAYA – Former Bersih 2.0 chair Maria Chin Abdullah believes that no one can stop Datuk Seri Anwar Abdullah from contesting in a by-election in a democratic country.
Maria, who is also Petaling Jaya MP, said that everyone has the right to stand for an election, but sounded a note of caution over concerns about nepotism.
“We have to monitor the situation so nepotism does not occur.
“I believe all MPs and assemblyman have a vision for a democratic country and we will move towards that so we will correct anything that falls out of it,” she added.
Maria was commenting on PKR president-elect Anwar’s plan to stand in a by-election in Port Dickson following the decision of the incumbent MP Datuk Daniyal Balagobal Abdullah to quit the seat.
The plan, dubbed the “PD Move”, paves the way for Anwar to return to Parliament, but has come under fire from some quarters who accuse him of wanting to start a dynasty.
Anwar’s wife Datuk Seri Dr Wan Azizah is the Deputy Prime Minister and Pandan MP, while his daughter Nurul Izzah is Permatang Pauh MP.
Maria was speaking during the launch of her mobile office in Taman Medan on Saturday (Sept 15).
Present at the press conference were Taman Medan assemblyman Syamsul Firdaus Mohamad Supri, Bukit Gasing assemblyman Rajiv Rishyakaran and newly-elected Seri Setia assemblyman Halimey Abu Bakar.
Syamsul said that any number of people from a family could become elected representatives and that worries about nepotism would only occur if they were all holding ministerial positions as well.
Halimey also reiterated that Anwar had announced that Dr Wan Azizah would step down as Deputy Prime Minister once he enters government. Nurul Izzah does not hold a ministerial post.
When asked about Prime Minister Tun Dr Mahathir Mohamad’s statement on the possibility of reviewing the Pakatan Harapan GE14 manifesto, Maria said she agreed with his view.
She said that manifestos are not set in stone and could be reviewed for improvement.
“We will keep our promises and we will improve on any gaps in the manifesto as well,” Maria added.
She said that when Pakatan Harapan made the manifesto they did not have inside information on the country’s economic state. However, after taking over they have a better understanding of the situation to make the necessary amendments.
“For example, we did not know how deep the debts were so at the upcoming budget we will be tightening the belt.
“We may not be setting up any committee to review the manifesto but it is up to the particular ministries to make the adjustments as per the political and economic situation,” Maria said.
– ANN/Malaysia Chronicle"
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| Guan Eng: RM46mil 1MDB-linked funds from Singapore is just 'tip of the iceberg' NATION Monday, 10 Sep 2018 6:31 PM MYT PUTRAJAYA (Bernama): Malaysia welcomes the move by the Singapore State Courts granting the return of 1 Malaysia Development Berhad (1MDB) monies with a total value of some S$15.3mil (RM45.9mil) to the country, says Finance Minister Lim Guan Eng. “I hope this is the beginning of more to come. After all, the sum of these monies is only a tip of the iceberg to be returned relating to 1MDB. “We also want to thank the Attorney General on his efforts which are now bearing fruits,” he said in a statement here Monday (Sept 10). Earlier, the Singapore State Courts granted disposal orders in respect of monies that had been unlawfully misappropriated from the 1MDB and/or SRC International Sdn Bhd group of companies. Solicitors for the Malaysian government, Tan Rajah and Cheah, in a statement, said the monies were in various currencies with a total value of S$15.3mil. These monies are being transferred to the special 1MDB recovery bank account in Kuala Lumpur, said the statement. It added efforts to recover other unlawfully misappropriated assets were ongoing. - Bernama/The Star Online |
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