WHY NAJIB ‘STOLE’ RM2.6 BIL & MORE – IN ALL SOME RM30 BIL – FROM 1MDB
Shortly after Najib was appointed prime minister on 3 April 2009 following Badawi’s resignation, he got a shock when he looked at BUMNO’s finances. On paper, BUMNO was rich based on its direct investments and those illegally held through its nominees. In reality, the papers were worth far, far less then the ink they were printed on.
Profits had turned dangerously negative, dividend cash flow was shrinking and many Government (read as BUMNO) Losing Concerns (GLC) were in dire need of massive state bailout. No one had the sense or ability to create new sources of income.
Petronas was already hinting that it would have to reduce its contribution to the government’s budget if it were to remain competitive, maintain internationally acceptable profits and returns on its investments, and not lose its triple A rating for raising debt via bond issues.
That is when Najib turned his attention to 1MDB and turned it into a giant ponzi scheme, having exhausted raiding the bank balances of many a Plc over the years. He had hit rock bottom arm-twisting our corps of fraudtrepreneur corpo-rat tycoons and so-called “captains of industry”, who, without government sponsored monopolies, sweetheart deals and built-in corrupt quid pro quo commissions and kick-backs, did not know how to earn risk-free RM1 of interest from Fixed Deposit, with cash of RM1 million!
Najib proudly announced to BUMNO that he was working out a new deal whereby its finances would be secure forever and a day!
Whether this man who boasts that he is a trained Industrial Economist, and some have openly stated that he has faked his educational degree qualifications, thought out the crooked scheme all by himself, or whether he was persuaded by Jho Paris Hilton, remains to be seen. But, rarely, if at all, do 20-something-year-olds with limited experience in merchant banking and finance, approach prime ministers with thievery as a business model.
It is a certainty that it is Najib who decided on fraud, misappropriation and money-laundering, and then shopped around for a suitable partner. In stepped a willing and able Jho Paris Hilton, blinded by billion dollar signs and friendship with Najib’s step-son Riza Aziz and his mother Rosmah (Najib’s 2nd wife).
Najib then roped in the usual band of BUMNO yes men into his team, among whom was another fraud king who was once sacked by BNM for being the person primarily responsible for some RM60 billion in forex losses and a GLC MD who led a company involved in the RM8 billion Scorpene submarine acquisition that was linked to the 2006 Altantuya murder when Najib was Defence Minister. Then there were other civil serpents among whom is a chief secretary who now stupidly and ridiculously claims he was not called to attend 1MDB meetings or consulted, even though it was a 100% Ministry of Finance subsidiary!
So, right from the beginning, it was Najib who intentionally planned the rape, looting and plundering of 1MDB. Five year old children will not buy the story that an unsuspecting, innocent, trusting and extra virgin olive oil Najib was hoodwinked by Jho Paris Hilton into commit fraud on a global scale.
It was all about the arrogance of BUMNO in thinking it alone had some kind of God-given mandate to rule Malaysia forever, and about remaining in power in the face of looming permanent electoral loss. Along the way, the massive amounts of money led to Najib and his family’s utter corruption and greed, tainted as he already was in the $575 million corruption scandal involving the Scorpene submarines and Altantuya’s murder. Many already crooked got sucked into Najib’s ‘skim cepat kaya’ or ‘get rich quick scheme’.
Otherwise, Najib would not have appointed himself Finance Minister and wound down the RM10 billion Terengganu Investment Authority so that he would have total control of 1MDB.
Otherwise, Najib would not appointed himself Chief Advisor and sole authority at 1MDB for approving all financial commitments and hiring and firing.
Otherwise, Najib would not have approved 1MDB starting operations with a poor paid up share capital of RM1 million and then, borrowed RM42 billion overseas in US$ to avoid BNM oversight and by misusing Malaysia’s sovereign status.
Otherwise, 1MDB would not have deliberately agreed to acquire IPPs at grossly and criminally inflated values (about RM2 billion), now openly admitted to by 1MDB CEO Kaunda Kundi with the incredible announcement that it was done so that our national electricity company, TNB Plc, would not raise tariffs! (In actual fact, subsequently, TNB raised tariffs twice!)
Otherwise, 1MDB would not have borrowed RM4 billion from a local pension fund, claim it had invested it in a foreign coal-mining venture, and then have the whole “investment” transferred loss free to the MoF. The MoF now refuses to answer truthfully to Parliamentary questions about the current market value of this RM4 by tendering OSA rights.
Otherwise, Najib would not have fired 1MDB’s two previous auditors for asking questions about 1MDB’s dodgy investments and refusing to sign off with a clean audit report.
Otherwise, Najib would not have illegally sacked the AG who was on the verge of indicting him for fraud, misappropriation, money-laundering, breach of fiduciary duty and abuse of power.
Otherwise, Najib would not have shut down a Task Force investigating him by ordering the IGP to arrest officers from BNM, MACC and the AG’s office, and transferring some to other government departments.
Otherwise Najib would not have illegally ordered his yes-man, new AG Pandi, to Unconstitutionally classify the Auditor General’s Report on 1MDB under the OSA.
Otherwise, without Najib’s instructions, the two top directors who illegally transferred RM42 million to Najib’s personal bank account from public funds, would not have been able to flee to Indonesia to escape prosecution. Najib then used this money to pay for his and his wife Rosmah’s personal expenses running into millions of ringgit, and suspicious multi-million ringgit disbursements to a named Deputy Minister and a BUMNO chief, and to several unnamed BUMNO chiefs and party members.
Otherwise, 1MDB’s audited accounts for the year ended 31 March 2015 would not be delayed now for 17 months, while its 3rd auditor issued a strange statement that the public could not rely on its audited accounts for 2013 and 2014. There is a RM30 billion hole in 1MDB’s balance sheet represented by “units” and unheard of asset descriptions alien to the financial world. These assets are likely to be worth nothing, having been fraudulently siphoned out by Najib and his corps of robbers in 1MDB and MoF, and his government of thieves.
Otherwise…….(please feel free to fill in the blanks).
Also, RM2 billion of RM2.6 billion transferred to Najib’s personal bank account was transferred back to its original source, which the WSJ has revealed to be an off-shore company (Tanore) owned by an Arab individual linked to a 1MDB joint-venture partner.
This blows to smithereens Najib’s disgraceful, shameless, outrageous and blatant lie that the RN2.6 billion was a donation from an Arab Royalty and/or the Saudi government. When that criminal AG Pandi cleared Najib of corruption, he did not utter a word about how and for what purposes Najib used the difference of RM600 million; how much of it went into Najib, Rosmah and their family’s pockets, BUMNO’s bank accounts and how much to bribe politicians and rig by-elections and the 2013 GE!
Let’s face it – in the history of the world, no government or individual, has ever donated RM2.6 billion or its equivalent to the personal bank account of the leader of a nation. It willl never happen in the future either. Certainly not for being a “moderate” Islamic nation which Najib claimed had opposed and fought ISIS, which Malaysia never did since ISIS came into existence only after the RM2.6 billion arrived in Najib’s bank account between 2012-2013!
Let’s also face it – all this was done with the connivance of BNM. At least one blogger has revealed, without being sued for slander and defamation, that Yeti of BNM in fact knew and advised Najib about the RM2.6 billion bank transfer in and RM2 billion bank transfer out of the country. This explains why, some two years after these events, Yeti was unable to give a straight answer to Australia Broadcasting Corporation’s (ABC) questions when asked why BNM had refused to meet AMMB officers who came ready with files and documents about massive cash movements in and out of Najib’s and Rosmah’s bank accounts. This also explains why BNM has refused to disclose to the public how much 1MDB was recently fined for criminally misleading BNM about the movement of RM2.1 billion overseas.
Do also remember, Najib has not sued Asia Sentinel for its article suggesting that he is linked to, not one, not two, but THREE murders! CLICK HERE. Neither has he sued the WSJ, as threatened by him and his incompetent lawyers, for exposing the corruption trail from 1MDB to Najib.
Najib has been cornered but refuses to resign gracefully, no doubt floating in false optimism and support given by the very people who are as guilty as him of utter corruption, lack of moral fibre and integrity.
Have no doubt, the final fall of Najb and his government of thieves is just around the corner. When it comes, out will go too BUMNO and all its corrupt, racist and bigoted sycophants who have been criminally sucking our blood while fingering the prayer beads and comforting themselves that they only fear God and His judgement.
Funny, that’s is also what all those Japanese and German generals were saying at the War Crimes Trials after World War 2, shortly before some committed suicide, faced the firing squad or were hung by their necks till they died of broken necks or asphyxiation!
– By Donplaypuks/
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from Malaysia Chronicle http://ift.tt/2c0JBpN
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