Najib Razak / Socio-economy / Umno & Barisan Nasional

Caught with their pants down, 1MDB is stumbling over their own deceit

1MDB made a police report yesterday, complaining about confidential documents being published by Sarawak Report.

This is the second time 1MDB admitted that the documents published in Sarawak Report were authentic. Note that 1MDB and the whole gamut of Najib’s propaganda machine had been frothing in the mouth for several months pretending to believe that Sarawak Report and the recently unbanned business newspaper, The Edge had been using tampered and forged 1MDB documents.

1MDB itself had never brought forth or identified which documents they have claimed as doctored. Whatever accusations they had thrown towards these whistleblowers were just a general assertion that some  documents were tampered. Which one? They have never pointed it out.

Thus, after explaining and admitting their mistake regarding Sarawak Report’s damning story on 9th October 2015, 1MDB was caught with their pants down again a few days later when the news portal published another explosive story.

When you can't cover it up anymore, make a police report

When you can’t cover it up anymore, make a police report!

Reading between the lines of their press release above, one can’t help to feel that finally, 1MDB has forced themselves to admit in defeat that the documents which had exposed their wrongdoings, were in fact, very authentic.

And just like their irrational business model, they are now acting in a manner defying logic – make a police report when somebody had exposed their law breaking activities.

For the sake of brevity, the story which had drawn such a ridiculous police report can be summarised as below. Each of the points were substantiated by documented evidence by Sarawak Report. Importantly, 1MDB did not deny any of it.

  • That Jho Low is an active Adviser for 1MDB since its early days despite him denying any involvement with the debt laden company.
  • How 1MDB cheated Bank Negara by giving false declaration when remitting the money overseas. USD1.83 billion were transferred based on false presumption. 1MDB even declared that some USD500 million was going to be used to invest in a French company!
  • Follow ups by Bank Negara to ascertain updates on the investments were often futile. In the end, 1MDB actually gave all their cash to Good Star Ltd; not PetroSaudi, as what their joint venture agreement had stipulated.
  • PetroSaudi had fraudulently claimed that they own oil fields in Turkmenistan when they really don’t. A valuation report was not done independently and was readied a day after the joint venture was signed.

Well the rest is history. We all know that USD1.83 billion of our cash were lost in transaction. Replacing them were the mythical units which carries no value at all. 1MDB really need to look up the dictionary for the word ’embezzlement’.

Note that Xavier Andre Justo, the ex-PetroSaudi director is now languishing in Thailand jail for blackmailing his former employer. One can only deduce that all the documents used so far to exposed 1MDB’s wrongdoings, are genuine. Logically, you cannot blackmail someone with fake documents.

This time around, unable to deny and issue anymore explanation, 1MDB had resorted to make an outrageous police report. The one that had misled BNM was 1MDB, yet they are making police report to cry foul over the sudden exposure of their apparent wrongdoings? Why is this company keep insulting our intelligence?

It is clear that based on the BNM’s investigation papers, 1MDB had breached the banking system by knowingly giving false statement. When people are asking why didn’t 1MDB be charged for the financial crime where the evidence against them are overwhelming, 1MDB had the gall not to deny their wrongdoings, but stressed that the more important issue is how did the confidential documents got published!

And today, the Attorney General issued a statement defending 1MDB’s right not to be charged under the Bank Negara laws. Basically, since Bank Negara did not inquire much during the time when billions were transferred out of this country, then there is no need for 1MDB to be punished!

The onus is solely on Bank Negara. Using an anology, this means if a person was brought in the house by good faith and he not state his real intention, but a few years later it was discovered by the owner that the said person had stolen a few items from the house, the thief cannot be charged by the law!

Paraphrasing the AG’s words – “If the house owner does not request for certain or specific information from the eventual thief, how could the thief be faulted?

To make it even more perplexing, the thief now is making a police report because someone had obtained the proof of him stealing!

And to reinforce this bizarre situation, a cabinet minister from Sabah said that since events in 2015 had superseded the alleged wrongdoings done in 2009 to 2011, the issue has become pointless and should not be dredged up!

Unbelievable.

This whole conspiracy to cover up is not lost on Malaysians. And people all around the world are watching too. The players actively trying to defend the financial crime and the lost of billions are making a mockery of the whole system.

You might also want to read:

1) Hiding 1MDB’s loss for financial year 2015?

2) Ooooooh, Patutlah BNM Arahkan USD1.83 Bil itu DiBawa Pulang ! Kencing Rupanya…

3) Dahlan says, Sir Wenger counters

4) Bilahari sees a Seance

5) Charging of 1MDB’s Whistleblower and Lawyer Condemned

6) Minit Mesyuarat 1MDB DiDedah – 1MDB Kantoi Lagi!

7) Zeti Says Malaysia Central Bank’s 1MDB Move Vital for Integrity

8) 1MDB or Najib should be charged, not Khairudin or Matthias

5 thoughts on “Caught with their pants down, 1MDB is stumbling over their own deceit

  1. The police report mentioned that “bank negara investigation documents” and this means they will start arresting BNM officers probably including Zeti or she will be sacked for “leaking the investigation papers”. This is in retaliation to Zeti exposing the crime of 1MDB. Anyone who exposes 1MDB crime will never get away scot free under the tyrant.

    Like

    • Liar, liars pants on fire
      All for the bangsatwan all for the fattyman
      There’s nothing in the cookie jar
      Left for the common man

      Liar, liars pants on fire
      Don’t call for the fireman
      There’s no water can douse
      The flames of caprice and greed

      Like

  2. So KBAB swings into action again to harass BNM?

    But the fact that Arul K. is squirming like a worm now is due to the 1MDB BOD minutes, mainly. That has nothing to do with BNM. Anyone could have those.

    I think the Bugis crook is now pushing his luck too far if he tries strong-arm tactics now. Even KBAB and the 24-hour AG better be careful. There are more powerful forces in motion than either of them.

    PS: “This letter of authorisation, which was sent by the Director of the Foreign Exchange Administration Department to 1MDB’s then Executive Director, Mr Tang Keng Chee, grants permission for the payment of the initial US$1 billion on the basis that amongst other provisions”…..

    This “Tang Keng Chee” is Casey Tang, wanted by BNM earlier and now missing:
    http://www.1mdb.my/happening/bank-negara-looking-for-duo-linked-to-1mdb/

    “Tang is a former executive director of 1MDB and was alleged to have worked with tycoon Low Taek Jho and top executives of PetroSaudi International to get 1MDB to subscribe to US$500 million of murabaha notes.

    Some US$260 million of this money from 1MDB was used by Low to buy UBG Bhd, The Edge Weekly had previously reported.

    The report, published on June 7, said that Tang and 1MDB chief investment officer Nik Faisal Nik Kamil were actively working with PetroSaudi and Low in the UBG takeover.

    Nik Faisal, at that time, had just joined 1MDB from UBG.”

    Can you see how it all fits together?

    In July 2105 the Edge gave a hard drive with all PSI documents (and others) to BNM.

    Evidently, they were right.

    I think Zeti is not going to back down.

    More importantly, I think MACC now have a good idea of whom to avoid if they want to reach the truth.

    But that’s for another day. A day that is not too far off.

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  3. Pingback: Caught with their pants down, 1MDB is stumbling over their own deceit | ajai62

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