Yoursay: Arul’s version on 1MDB ‘units’ doesn’t hold water
YOURSAY | Are you prepared to accept these 'fund units' as your salary?
Kim Quek: 1MDB chief executive officer Arul Kanda Kandasamy’s answers in this Malaysiakini interview has only re-confirmed that the US$2.5 billion Brazen Sky’s investment units are fiction.
The only way to expose the whole truth to the nation is for the opposition to win GE14.
Failing which, the almost RM50 billion lost by 1MDB – allegedly mainly through embezzlement – will be buried, paving the way for future replicas of 1MDB of perhaps even more spectacular feats.
Fernz: The so-called rationalisation plan is a separate issue from the alleged plundering of 1MDB. Arul was brought in for the rationalisation plan, i.e. use assets to cover up the alleged plundering and also resolve the debt issue.
1MDB likes to claim that its assets are more than its debts. What is not stated is that these debts were not accumulated in the process of acquiring the assets, which were mostly given free or cheaply by the government.
So, why were these debts incurred? 1MDB is yet to produce its annual reports for the last several years. It claims the police seized its documents for investigation and therefore it can't complete the audit reports.
The police will take forever to complete its so-called investigation into the 1MDB scandal. How is the company operating without producing annual reports? It appears that the company and the police are in cahoots to cover up a massive crime against the people. I stand corrected.
Arul has also been quoted several times as saying that 1MDB didn’t lose any money. If so, why didn’t he go to California and tell that to the court there?
The Department of Justice (DOJ) case is a civil action to freeze, seize and forfeit assets acquired illegally from funds originating from 1MDB.
The DOJ estimates that US$4.5 billion was plundered from 1MDB. There would be a criminal case if the civil action is challenged by those from whom the assets were seized.
The international law on money laundering, which is in force since 911 (September 11), defines money laundering as having assets far in excess of what can be legitimately accumulated over a lifetime.
That’s how Jho Low and Riza Aziz got caught. That’s why Equanimity, the US$250 million superyacht, was seized in Indonesia.
Gerard Lourdesamy: Arul, your version does not hold water when compared to the DOJ court filings, whatever their motives or purposes.
The fact is billions of dollars of 1MDB money was allegedly misappropriated through fraud and cheating.
If the government wants to restore some credibility, just de-classify the Auditor-General's Report on 1MBD, including the Bank Negara letters to the Public Accounts Committee (PAC), and convene a royal commission of inquiry consisting of eminent retired judges of impeccable repute, independence and integrity from Malaysia and the Commonwealth such as the UK, Canada, Australia, New Zealand, India and South Africa to investigate 1MDB and all the key players involved.
Until then, Arul, you can read from the script like a bad actor but the rakyat in GE14 will ensure that the BN and its director, Najib Razak, will go bust.
Quigonbond: The fact that Malaysian Official 1 (MO1) refuses to sue Wall Street Journalfor defamation in the US is proof enough that there is cover-up in Malaysia.
A goliath like US has little interest to interfere with Malaysian politics.
Ipohcrite: I can only say Arul is just too smooth – he responded to a simple question with a beating-about-the-bush answer that convinces nobody but the diehard believers in Umno.
He has perfected the art of answering his own FAQs (frequently-asked questions) as well as questions thrown at him by Malaysiakini.
Pretzel Dog: So Arul, can we take it that you're prepared to accept these 'fund units' as your salary?
CQ MUARku: There is no deal big with regard to Arul's recent roadshow explaining and justifying the state and "facts" of 1MDB to a gullible audience.
His "talks" were mainly amongst Umno branches, and behind closed doors. To cite an example, the one held in Muar was at the Muar Umno branch’s Ninam Shah hall.
Those who attended were confined to friends and members of Umno. Those who attended were awed by his "eloquence and authority" enhanced by charts and figures. Very impressive, but you bet, full of salesman talk.
It’s a one-sided exposition by a highly paid professional and slave of the MO1. That's all there is to it.
Malaysian-United: Indeed, Arul has shared practically nothing about 1MDB.
Whatever "information" he has "shared" so far never goes to reveal anything about the funds that went missing, rather they were carefully structured responses to questions by interested parties to conceal the form and whereabouts of the said funds.
All he did was beat around the bush and contort whatever limited "facts" he was prepared to provide when asked rather simple and straightforward questions by interested parties.
You do not need a trained accountant or a financial whiz to do his job; any ordinary con-man from the streets will do.
So how will his "roadshows" enlighten the people on the 1MDB scandal apart from the sweet nothings he has told us in the past?
He can keep repeating "fund units" from dawn to dusk and until he goes hoarse but he will never be able to show us the money.
Anonymous 2475871497500343: Why don’t you debate with your "best friend" (DAP MP Tony Pua) on 1MDB scandal?
Arul, please don't waste your time go around the country explaining your company's perspective, the story of the events and facts, you have failed your duty as the CEO of 1MDB because you can't even produce the audited financial statements of 1MDB for the past four years and the last financial statement prepared by Deloitte was for the period ending March 2014.
There is no excuse for passing the buck to the police for not returning your company documents. The only way to have a proper investigation of 1MDB is to have royal commission of inquiry, which will never be possible under Umno's rule.
Pakcik Am: Arul must know that 1MDB was short of funds in the amount of RM17,700,000,000. That money had allegedly disappeared.
His job was to neutralise that and to camouflage it. That makes him an accessory after the fact. - Mkini
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