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Saturday, July 4, 2015

US$700-Million Account: Own Up Or Sue



A Kadir Jasin

PRIME Minister Mohd Najib Abdul Razak had reacted to the Wall Street Journal (SWJ) expose that he has a personal account with some US$700 million (to be exact US$681,999,976 or about RM2.6 billion) in it by launching vitriol against Tun Dr Mahathir Mohamad.

In his Facebook posting he accused the former Prime Minister and blogger of “gutter tactics - in some cases criminal tactics - to topple a democratically elected Prime Minister."

This is what Mohd Najib said in his Facebook posting carried by the media:

"In recent months, various allegations – all unsubstantiated, and many simply outrageous – have been directed against me and my family.

"These attacks began when I refused to implement Tun Mahathir’s personal demands. I refused, because I do not believe it is right for Malaysia to be ruled by proxy.

"Tun then created a crisis when he recklessly claimed that RM42 billion (US$11 billion) was missing from 1MDB, when in fact these are audited debts backed by RM51 billion (US$13.5 billion) audited assets.

"The latest allegation is that I have taken state-linked funds for personal gain. I believe Tun, working hand in glove with foreign nationals, including the now discredited political attack blog Sarawak Report, is behind this latest lie.


"It is now clear that false allegations such as these are part of a concerted campaign of political sabotage to topple a democratically elected Prime Minister.

"At no point have those making these allegations offered any evidence. All we have heard is that these allegations are based on leaked documents and unnamed investigators. Not once has the source of these documents ever been shown, neither have the documents themselves been provided for verification by lawful authorities.

"As we now know, a number of the documents on which recent allegations have been based were reportedly doctored. The person who was leaking these documents is under investigation by authorities overseas for attempting to extort and blackmail his former employer. This says a lot about the reliability of the documents, and those who are using them to damage our government and our country.

"Those who continue to mount these attacks should be prepared to face the consequences of their actions.These gutter tactics - in some cases criminal tactics - to overthrow the government will fail. Where appropriate, they will be met with the full force of the law.

"It’s a shame that these false attacks motivated by self interest come at a time of unique opportunity for Malaysia – with our Chairmanship of ASEAN this year, and the prize of developed nation status around the corner. I will stay focused on the work of nation building for the people."

My views on this latest development and on what we, as concerned Malaysians, should be looking at are as follows:

1. Mohd Najid could be over-acting. Overthrowing Mohd Najib does not amount to overthrowing the government. The Umno-led Barisan Nasional Government remains. When his father, the late Tun Abdul Razak Hussein “overthrew” the late Tunku Abdul Rahman Putra in 1969, the Alliance Government remained.

2. But let us respect Mohd Najib’s freedom of speech and his right of reply although his vitriol against Dr Mahathir and other critics we unnecessary. In fact he and his agents do not have to say anything about the WSJ report.

Wall Street Journal's expose: Mohd Najib's Waterloo

3. All that is needed is for AmBank to deny the existence of the alleged account. In fact it could be an offense for AmBank keep mum if the account does not exist. But neither Mohd Najib nor the bank denies the existence of the account and the amount of money it contains.

4. Instead Mohd Najib said: “I have never takenfunds for personal gain as alleged by my political opponents – whether from 1MDB, SRC International or other entities, as these companies have confirmed.”

5. He “might” not have taken funds for personal gain but he did take them for other purposes – like funding election campaign – as has been widely alleged.
To help clear him, the Inland Revenue Board can investigate the sources of funds for his daughter's lavish wedding receptions recently and find out if he or the wife has assets, like palatial homes, abroad. 

6. He “might” not have taken funds for personal gain and 1MDB, SRC International or other entities would likewise confirm. But what about commissions and under the counter payments generated by businesses linked to these companies?

7. This is why it is so important for the investigators to interrogate companies and individuals who do business with 1MDB like Genting, Ananda Krishman, Jho Low and the Arabs.

8. The longer the 1MDB issue drags on the worse it is for the country and the people. The government is under siege at home and the country is becoming a laughing stock around the world. Fitch Rating might have upgrade our sovereign debt but things are getting worse for the people.

9. The longer the 1MDB issue drags on the worse it becomes for the key elements of the government - the Attorney General’s Chamber, the Bank Negara, the Police, the Malaysian Anti-Corruption Commission, the Auditor General and the Parliamentary Public Account Committee (PAC).

10. AG’s Chamber as the scrutiniser of the investigation papers by the Police and the MACC cannot be seen as uninterested, slow or hesitant. If there is a case, even against the Prime Minister, it must have the courage to act.

AG must have the courage to act
11. It a folly for these agencies to assume that what they know about the case is a total secret. Their officers may have taken the oath of secrecy, but confidential materials may still leak because people involved in these investigations are unhappy with the follow-up by the AG or they do not want to be accused later on of complicity or doing a bad job.

12. The WSJ and other international news organisations would not have able to get internal information about 1MDB or about Mohd Najib’s billion-ringgit account had there not been leaks somewhere.

13. The burden of responsibility is even greater for those in political leadership who have access to the information in AG’s custody and in the custody of other investigating agencies. They stand accused of complicity and treachery if they do nothing.

14. We can seek political solution by pressing for Mohd Najib’s departure if there is sufficient evidence that he has been involved in criminal breach of trust (CBT) or abuse of power. But justice must be allowed to prevail. The guilty parties must be made to face the full brunt of the law as Mohd Najib himself said in the above Facebook posting.

Mohd Najib and Muhyiddin: Those who know stand accused if they don't act
15. We should also ask why the world media is taking Dr Mahathir’s side if what he is doing is nothing more than a political sabotage and a vendetta as Mohd Najib’s spin doctors had alleged.

16. Are we to assume that Western media outlets like Dr Mahathir more than Mohd Najib? Isn’t Mohd Najib more friendly with the West, in particulars the US, than Dr Mahathir?

17. So why should the Western media be in cahoots with the recalcitrant Dr Mahathir in attacking the pro-West Mohd Najib?

18. The reporting rules at newspapers like WSJ and its sister publication, Asian Wall Street Journal (AWSJ), are very stringent. In cases like 1MDB, reporters’ copies will be vetted by company lawyers. In most instances the lawyers would insist on seeing supporting documents and the identities of the reporters’ sources of information.

19. If reports by WSJ and Sawarak Report are false, the best course of action is for Mohd Najib to take them to court like he had done with PKR MP Rafizi Ramli and DAP MP Tony Pua to court for allegedly libelling and slandering him and his wife?

20. And if Mohd Najib wants to that that course, the better way is to take these organisations to courts in the countries of their domicile – the WSJ in the US and Hong Kong and Sarawak Report in the UK.

21. And lastly, could the WSJ expose be Mohd Najib’s Waterloo in which he is Napoleon?

Wallahuaklam.

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