IF NAJIB COULD SUCCESSFULLY SCAM XI & TRUMP – WHAT MORE GULLIBLE MALAYS: AS CHARGES FOR THE RAPES OF TABUNG HAJI & FELDA LOOM – EX-PM RETREATS FURTHER INTO HIS FANTASY WORLD OF LIES & DECEIT

At the rate former Prime Minister Najib Razak and his buddy, PAS Islamist Party President Hadi Awang, spew lie almost on a daily basis, one may wonder if both are trying to outdo each other for the serial liarchampionship. Of course, it’s quite unfair that Mr. Hadi abused his status as an Islamic religious leader legitimizing his lies as “Shariah-compliant”, while Mr. Najib could not.

However, Najib’s talent in lying and scamming cannot be underestimated. Even after the crook taxed, lied and stole billions of dollars, his 4-million UMNO Malays gullible fans continue worshipping him. They are quite an amazing species, are they not? But who can blame them considering Najib had successfully scammed Chinese President Xi Jinping and U.S. President Donald Trump.

Najib’s lying skill appears to have reached a new level today when he accused the new Pakatan Harapan government of bailing out Tabung Haji after destroying it. Taking to his Facebook page, he claims that it was the 10-month-old Mahathir government that destroyed the Pilgrims’ Fund, not him. Curiously, Najib did not elaborate how the new government could destroy the fund in less than a year.

He bragged that for years, Tabung Haji, set up about 55 years ago to help Muslims in the country save up for the hajj, had declared extraordinary high “hibah (dividends)”. He also boasted  that “bail out” never happened under his leadership. According to the fund financial report 2017 approved by the Auditor-General, Najib said the Pilgrims’ Fund has more assets than liabilities.

If the scripts do sound too familiar, that’s because Najib Razak, along with 1MDB former president and chief executive officer Arul Kanda Kandasamy, had trumpeted the same cock and bull story – that 1MDB was in excellent financial health because the 1Malaysia Development Berhad had more assets than liabilities. Amazingly, 1MDB went bust the moment Najib was booted.

In May 2018, the same month Najib regime lost power after 61 years, two of 1MDB directors – Norazman Ayob and Kamal Mohd Ali – finally admitted that the state fund set up by the former premier was actually insolvent and unable to repay its debts. CEO Arul Kanda made a spectacular U-turn and told a different story – he was uncertain if the RM9.8 billion worth of investments belonging to 1MDB were real or not.

In order to scam his Facebook followers, most of whom probably has IQ worse than a carrot, Najib has deliberately thrown in big title like “Auditor-General”. Unfortunately, the auditor general who approved the Tabung Haji financial report, Ambrin Buang, was the same man grilled by the Malaysian Anti-Corruption Commission (MACC) in November over allegation of tampering with the 1MDB audit report.

To divert attention that his regime was responsible for the bankruptcy of Tabung Haji through mismanagement and embezzlement, Najib Razak shamelessly pretended to be surprised that all of a sudden, the Pilgrims’ Fund supposedly healthy accounts turn into a deficit of RM4.1 billion and requiring a bailout of RM17.8 billion. He was offended by the revelations of a new investigation.

A report prepared by government-appointed accounting firm PricewaterhouseCoopers (PwC) to review the financial position for 2017 had exposed that Tabung Haji was actually sitting on up to RM10.2 billion in lossesof its domestic and international equities as of October 2018. Its liabilities outstripped assets by RM9 billion. So, which part of the losses that Najib does not understand?

Under Najib government, Tabung Haji made losses of RM670 million from its attempt to rescue Ramunia Holdings Bhd and RM144 million from buying 30% of Putrajaya Perdana’s ownership, not to mention RM1.1 billion losses in Felda Global Ventures (FGV) investment. The fund also did not record an impairment totalling RM227.81 million against investments in three subsidiary companies, primarily TH Heavy Engineering Bhd.

It’s funny that Najib didn’t enlighten his Facebook followers how his boy, Abdul Azeez Abdul Rahim (Chairman of Tabung Haji), was instructed to bail out 1MDB in 2015 using the pilgrims’ piggy bank – purchasing a small 1.56 acre of Tun Razak Exchange land for RM188.5 million, when an area as huge as 70 acres was purchased by 1MDB for only RM194.1 million.

It’s also hilarious that Najib’s Facebook followers didn’t grill him about two urgent letters sent by Zeti Akhtar Aziz, then-Governor of Bank Negara Malaysia (Central Bank of Malaysia), in December 2015 to Abdul Azeez Abdul Rahim and copied to Najib himself – warning that the pilgrims’ fund was on the brink of collapse and a massive bail out by taxpayers may be required.

How could the new government of Pakatan Harapan destroy Tabung Haji in 2018 when the fund was already about to be destroyed back in 2015, as warned by the Central Bank Governor?  The fact that Najib dares not challenge the existence of such letters proves the existence of the warning from Governor Zeti that the Pilgrims’ Fund was in financial difficulties as early as 2015.

The drama queen Najib tried scamming his ignorant supporters, arguing that Tabung Haji could pay high dividends for several years under his leadership and never had to bail out the fund. Of course he can, because he had transformed the Pilgrims’ Fund into one big Ponzi “get-rich-quick” scheme. As a result, the fund could distribute “hibah (dividends)” ranging from 6.25% up to 8.25% in the period between 2013 and 2017.

But how was that possible? If you’ve played Ponzi scheme before, it’s pretty simple. When you have 9.3 million depositors, but only 30,000 would use their money in Tabung Haji to perform Hajj every year, what Najib and his band of crooks needed to do was to pay dividends using the depositors’ own money – to create an illusion that they received extraordinary “hibah”.

After you minus 30,000 from 9,300,000 depositors, the money left in Tabung Haji is pretty substantial and can still be used to pay dividends for ages using Najib’s Ponzi scheme. As a yardstick, it was discovered that the hard-earned savings fund for Muslims to perform the mandatory hajj pilgrimage should have RM64 billion in assets, but has been found to be short of RM4 billion in deposits in 2016.

Let’s do a little calculation. The Najib government paid 6.25% hibah (dividend) in February 2018 involving RM2.7 billion, despite the accounts being manipulated with profits that did not exist. So, based on the RM60 billion left in 2016, Tabung Haji can still pay its same number of depositors the same rate of dividend of 6.25% for an eye-popping 22 years – using the depositors’ own money to pay themselves!!

Now, do you understand why Ponzi scheme always works like a charm until a certain time before it goes bust and the scammers disappear? It wasn’t a coincidence that Tabung Haji was transformed by Najib Razak into a Ponzi scheme. The 1MDB was a Ponzi scheme, the same way his second Nazifuddin was linked to a Get-Rich-Ponzi-Scheme called UFUN.

Fortunately, Najib regime collapsed last year, without which the 9.3 million Tabung Haji depositors’ savings would be milked for years, even decades, without the Muslims in the country realize that their money has been scammed. Najib has been lying so much to cover his thievery and mismanagement that he probably has gone crazy blaming the new government of bailing out the pilgrims’ fund after destroying it.

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