THE NEXT GOVERNMENT.

BARISAN RAKYAT SHALL FORM THE NEXT GOVERNMENT!

SOS

SOS
nation in distress

The World Anthem


WE ARE ALL OF 1 RACE, THE HUMAN RACE.


28/07/2016

LET'S NOT FORGET NAJIB'S MOF RM30 BILLION PEMBINAAN PRIVATE FINANCE INITIATIVE (PPFI) LOAN FROM EPF - INTO WHOSE POCKETS DID THE MONEY REALLY DISAPPEAR TO?




The Universe is aswirl with news of serially lying, misappropriating, defrauding, plundering and looting PM Najib's global record swindle of 1MDB's $46 billion debt and RM30 billion hole in its balance sheet. Not to mention him being linked to two murders - Altantuya (CLICK HERE AND HERE) and Hussein Najadi.

But let us not be totally distracted by that and lose track of the unaccounted for RM28 billion debt racked up by another "project initiative" by Najib doubling up as Finance Minister, at the Ministry of Finance (MoF). Najib's comrade in arms is also there, namely, Secretary General to MoF, Mohammad Irwan Serigar Abdullah. Serigar, who has since its inception in 2009 been a director of the now infamous 1MDB, was recently promoted as its Chairman.

When asked about the fraud and fiasco at 1MDB, a 100% owned subsidiary company of MoF with a paid up capital of RM1 million and which had raised RM46 billion in sovereign guaranteed loans, Serigar maintained that he had not been consulted or called for meetings!!?? What exactly were Serigar's priorities - to focus on Najib's pandas or the peanuts being consumed by monkeys at the national zoo?

I have already written extensively about my suspicions about this RM28 billion PPFI loan from EPF, which has, according to a PAC inquiry, been fully disbursed to Bumiputra contractors. Except, the MOF has classified it all under the Official Secrets Act (OSA) and will not publicly reveal the projects or the names of the contractors! CLICK HERE AND HERE.

More than that, the Malaysian Bumiputra Contractors Association is still clueless about the projects or who were the contractors who were so fortunate as to receive a golden handshake (in Malay, 'durian runtuh') from Najib and Serigar's MoF!

Despite some pointed questions to the MoF by DAP MP Ong Kian Meng and Bizkini, the MoF has been superbly stonewalling from giving clear answers.

At the heart of it all are these serious unanswered questions by the Najib, Serigar and the MoF:

1. Why was a  RM30 billion so-called Private Finance Initiative (PFI) scheme funded by the government borrowing from the EPF and guaranteeing it? PFI projects are meant to be funded by the contractors. Yet, the government borrowed money from EPF and paid the contractors!

2. What exactly was constructed and who were the contractors? If there is nothing fraudulent, why has it all been concealed under the OSA?

2. What benefit did the government receive from leasing back 186 parcels of empty, raw agricultural land, from PPFI? If nothing, then it is an outright scam, a fraud.

3. How does Najib, Serigar and the MOF propose to repay the RM28 billion when it is not included in the government's budget?

And here are some similarities to the 1MDB mega fraud:

1. Billions of ringgit borrowed secretly and disbursed on secret projects and classifying them under the OSA.

2. Raising billions of sovereign debt with no real capital or assets of value. 1MDB's debt:capital ratio was 1:46,000, PPFI > 1:28,000!!

3. Committing the unpardonable financial sin of borrowing money to repay debt interest, and repeatedly rolling over debt.

4. Using the PAC to cover up suspected massive fraud.

5. The involvement of Najib and Serigar. What exactly was Ali Hamsa, the Chief Secretary to the Government, doing while all this was going on?

Just like the 1MDB global fraud, the PPFI RM28 billion "secret projects" disbursements fail the smell test. There is the stink of fraud, misappropriation and looting written all over it!

The Auditor General had better take another look at PPFI's financials before, like the fiasco at 1MDB, the horses bolt off to Kazakhstan or Taiwan!!

22/07/2016

THE THREE 1MDB OFFICERS IN THE US DOJ INDICTMENT SHEET & ALL THE PLAYERS IN THE 1MDB RM46 BILLION FRAUD & FIASCO!


In case you were wondering who the 1MDB Officers 1 - 3 mentioned in the US Department of Justice 136 pg. Indictment for the Najib led Kleptocracy are, here it is so there is no doubt:



1MDB Officer 1 - Tan Sri Ismee Ismail, Executive Director until March 2011.


1MDB Officer 2 - Datuk Shahrol Azral Ibrahim Halmi, CEO till 2013.


1MDB Officer 3 - Jasmine Loo Ai Swan (42), General Counsel and Executive Director of Group Strategy. She succeeded Casey Tang Keng Chee (50). A Bank Negara Malaysia warrant of arrest has been issued against both these Malaysian nationals.


It is also now obvious that the audited accounts of 1MDB are not worth the paper they are printed on. In particular, Deloittes (where one of Najib's sons, Nizar, is a partner or director, though not in the audit side) who signed the 2014 audit certificate, should be sued by the government and fined heavily and/or wound up. More than that, it is evident that the 1MDB's 2015 accounts, now delayed since April 2015, will never see the light of day because no auditor worth his salt, will now sign a fraudulent set of numbers where RM30 billion has disappeared for sure, and all the answers have to come from serially lying PM Najib!

Besides these officers, here are the details of all the players involved or associated with 1MDB's FORMER “triple-tier” corporate governance structure, with a Board of Advisors chaired by the prime minister Najib Tun Razak himself in addition to having a Board of Directors overseeing the Senior Management Team. Only a few good men like Azlan and Bakke (and others) resigned on matters of principle and integrity, when they suspected massive fraud was being engineered by none other than their PM, Najib:



Jho Low, the dealmaker
Penang-born Low Taek Jho, more commonly known as Jho Low, is a young businessman in his early 30s living a high-profile life, by his own admission rubbing shoulders with the likes of Paris Hilton and Leonardo DiCaprio.
Interestingly, the son of Larry Low of MWE Holdings fame began forging connections with the wealthy of the world when he went to top UK boarding school Harrow and then Wharton School of Business. There he reportedly became close to scions of wealthy Arab families, a connection which later would seemingly be instrumental in his deals.
It was also during this time that he got to know the prime minister’s stepson Riza Aziz, who was studying at the London School of Economics at the time. This led to Jho Low growing close to Riza’s mother Rosmah Mansor as well, according to a New York Times report.
These connections grew increasingly significant as he began to be involved in 1MDB back in its early days – this goes back to the time when the company was still known as Terengganu Investment Authority (TIA) and controlled by the Terengganu state.
In a previous statement, Jho Low’s representative stated that he was among many parties asked to offer advice during the initial stages of TIA’s life. Jho Low further claimed that he was no longer actively involved in any manner by mid-2009 when the federal government took over TIA and renamed it 1MDB.
However, his involvement may have extended to at least near the end of 2009, according to a series of articles published by Sarawak Report citing leaked documents which appear to be confirmed as genuine.
They alleged that despite having no formal role within 1MDB, Jho Low and his associates were in unusually active roles in setting up 1MDB’s first joint venture with Middle East-based Petrosaudi International – both parties were only officially introduced to each other days before signing the hasty venture.
The deal in itself raised concerns, among others because of the hasty manner in which it was concluded as well as the revelation by Sarawak Report that some US$700 million from the US$1 billion 1MDB committed to the joint venture was transferred into an unrelated bank account under the name of Good Star Ltd at RBS Coutts Bank Ltd, which Sarawak Report alleged is controlled by Jho Low.
As the 1MDB controversy erupted this year Jho Low became a household name among the public, not least because of these Sarawak Report revelations. Sarawak Report later published a photo of Jho Low standing beside the prime minister’s family in what it alleged was a meeting aboard a luxury yacht with other parties.
Tarek Obaid and Prince Turki – the PetroSaudi connection
PetroSaudi International, 1MDB’s first joint-venture partner under what has been revealed as shady circumstances, is an interesting company.
The independent oil and gas company was reportedly incorporated in the Seychelles in 2005 and has offices in Saudi Arabia, UK and Switzerland with projects in Ghana, Indonesia, Venezuela and Tunisia. Previously it was reported to have had a stake in Paraguayan oil company CDS but sold this stake in 2009.
Tarek Essam Ahmad Obaid, co-founder and CEO, is a graduate of Georgetown University’s School of Foreign Service, according to the company’s website.
In turn Tarek is linked to Prince Turki, the seventh son of the late King Abdullah of Saudi Arabia, and both were often seen together in Riyadh. Past news reports have quoted Tarek as speaking on behalf of Prince Turki’s company Al-Obayya in 2004.
Tarek is also part of private equity company Genii Capital, where he partners with Renault F1 Team chairman Gerad Lopez among others. Subsequently in May 2010 Tarek joined Team Renault, although later in November that year Tarek relinquished his role as partner in Team Renault, according to Genii Capital in a statement.
Among other things Tarek had also donated US$10 million to Mayo Clinic in 2011, which led to a centre for surgery being named after his parents. In 2011 he credited the Saudi royal family when PetroSaudi generously chartered planes to lift Malaysians out of Egypt as crisis embroiled the nation.
Apart from 1MDB, PetroSaudi had also been involved with UBG Bhd, when in January 2010 it bought stakes linked to then-Sarawak chief minister Abdul Taib Mahmud for RM1.2 billion. Notably Jho Low was a board member of UBG then. PetroSaudi later took the company private.
THE MEN IN CHARGE
Shahrol Azral Ibrahim Halmi
Shahrol Halmi was the first CEO of 1MDB back when it was still TIA and under control of the Terengganu state government. Most of 1MDB’s major deals and borrowings took place during his tenure.
A Stanford University graduate, he formerly spent more than 15 years as a consultant at Accenture, where he worked on various sectors including financial services and oil and gas. His track record indicates an expertise in transformation initiatives.
Under his watch 1MDB issued its very first debt papers for RM5 billion, directly disobeying the board of directors who instructed the exercise to be put on hold. During the PetroSaudi joint venture episode, Shahrol had full knowledge of the US$700 million transfer into the bank account allegedly controlled by Jho Low, according to Sarawak Report.
He also oversaw the contentious decision to convert the joint venture in a loan to PetroSaudi as well as loan further funds later. It was under Shahrol’s watch that most of the questionable trail of power asset acquisitions was undertaken by 1MDB between 2012 and 2013, although considering the final major deal was signed just several months after he resigned as CEO he may have been instrumental in arranging the final purchase too.
He resigned his position as CEO on March 15, 2013 as 1MDB’s debt count stood at RM36 billion as of the 2013 financial year ended March 31, 2013 (FY13). However he remained as 1MDB board member. Shahrol then went on to the Performance Management and Delivery Unit (Pemandu), where he is presently a director reporting directly to Pemandu chief Idris Jala.
Mohd Hazem Abdul Rahman
Mohd Hazem took over from Shahrol Halmi on March 15, the day the latter resigned, as 1MDB was sitting on about RM36 billion in debt. Prior to that he was chief operating officer of 1MDB since August 2012.
Under his watch 1MDB would further undertake more than RM12 billion in borrowings although for the most part these seem to be related to rolling over existing debt. Among others he oversaw the extinguishing of the controversial Aabar options for billions of ringgit as well as the first redemption of 1MDB’s billions of investments in the Cayman Islands.
A graduate of the Weatherhead School of Management at Case Western Reserve University in the US, Mohd Hazem holds a degree in management, specifically in banking and finance. He joined 1MDB from Sime Darby Motors unit Auto ConneXions Sdn Bhd, where he was managing director.
According to 1MDB, Mohd Hazem has extensive experience in corporate turnovers and strategy, with a total of 17 years in various sectors including power and equities. He resigned on Jan 5, 2015.
Arul Kanda Kandasamy @ Azrul Kanda
Appointed on Jan 5, 2015, Arul Kanda comes from an extensive background in structured finance, corporate finance and restructuring with experience in London, the Middle East and Malaysia.
Arul, a Malaysian national and pointedly described by one federal minister as a Muslim, is described by some as a debt restructuring specialist. Almost immediately after coming in, he announced in February a halt on all new deals and borrowings and rolled out a rationalisation plan for 1MDB which includes monetising its power assets and divesting some equity in its real estate business.
However, Arul also comes with some connection to at least one Middle Eastern player that has been linked to 1MDB. The link raised concern on Arul’s interests when he was appointed to helm 1MDB.
A UK qualified Barrister, with an LLB from the London School of Economics and an LLM from University College London, he was also a former board director at RHB Investment Bank and reportedly at RHB Capital too.
Arul came from Abu Dhabi Commercial Bank (ADCB) – majority owned by the government of Abu Dhabi, which also controls International Petroleum Investment Co (IPIC) and Aabar, which has business dealings with 1MDB – where he was executive vice-president and head of investment banking. He also formerly worked at Barclays Capital and Credit Agricole and also holds board positions at Global Investment House (Kuwait) and ADCB Macquarie Infrastructure Fund.
Notably ADCB, which bought a 25% stake in RHB Capital in 2008 from the Employees Provident Fund, reportedly named Arul to sit on the company’s board as its representative. ADCB later sold the stake to another Abu Dhabi government investment arm, Aabar Investments PJS.
In turn Aabar, which is controlled by Abu Dhabi’s IPIC, was granted the notorious option to buy up to 49% stake in 1MDB’s power assets in exchange for IPIC’s guarantee of two bonds issued to buy the power assets.
THE BOARD OF DIRECTORS
Lodin Wok Kamaruddin (from Aug 11, 2009)
Chairman of 1MDB board of directors, Lodin Wok Kamaruddin is widely viewed as a loyalist of Prime Minister Najib Abdul Razak following close professional ties – his career spans defence-related companies and funds.
Lodin is CEO of Lembaga Tabung Angkatan Tentera (LTAT) since August 1982 and Boustead Holdings group managing director since 1991. Notably Najib was defence minister during the years 1990-1995 and 1999-2008.
He was appointed to the 1MDB board on Aug 11, 2009, the same day Sime Darby group chief Mohd Bakke Salleh was reappointed to the board before the latter resigned again from the board, allegedly in protest over how the PetroSaudi joint venture deal was conducted by company management.
While this sudden change raised eyebrows at the time, the company stated the intention was to tap into his expertise. As controversy erupted this year following increased media reportage on 1MDB, Lodin has publicly come out to defend the company although some of his statements prove problematic under closer scrutiny.
Ismee Ismail (from March 23, 2009)
A chartered accountant, Ismee Ismail comes from a long corporate background involving companies such as Arab Malaysian Development Bhd, Shell Malaysia Trading Sdn Bhd, Danaharta Nasional Bhd and Felda Global Ventures.
Among others Ismee also sits on the board of Bank Islam Malaysia Bhd, its parent BIMB Holdings and Syarikat Takaful Malaysia.
Presently Ismee is group managing director at pilgrimage fund Lembaga Tabung Haji.
Mohd Bakke Salleh (Feb 27 – April 7, 2009; Aug 11 – Oct 19, 2009)
Former 1MDB board chairman and member over two brief tenures, Mohd Bakke Salleh is presently president and group chief executive of conglomerate Sime Darby Bhd. His career has included a spell as group president and CEO at Felda Global Ventures Holdings Bhd as well as group managing director and CEO at Lembaga Tabung Haji and a stint at Danaharta Nasional Bhd.
He holds an economics degree from the London School of Economics in UK and is also a fellow of the Institute of Chartered Accountants in England and Wales and a member of the Malaysian Institute of Accountants.
His second and final departure from the 1MDB board was alleged to have been in direct protest over the PetroSaudi joint venture deal, which was hastily signed in direct disobedience of board instructions to carry out proper due diligence, according to sources. However, Mohd Bakke has declined to speak about his time at 1MDB when speaking to the media.
Azlan Mohd Zainol (Aug 11, 2009 – Jan 11, 2010)
Like Mohd Bakke, Azlan comes from an accounting background. He is also fellow of the Institute of Chartered Accountants in England and Wales and a member of the Malaysian Institute of Accountants.
Azlan is mostly known for his time helming pension fund Employees Provident Fund, where he was CEO between April 2001 and April 2013. His long corporate career had spanned various companies including Malaysian Resources Corp Bhd (MRCB), RHB Investment Bank and a non-executive directorship at Rashid Hussain Bhd.
Sarawak Report alleged that Azlan also eventually departed following the contentious PetroSaudi joint venture deal, though he left some months after Mohd Bakke.
Ong Gim Huat (from Jan 12, 2010)
A corporate man, Ong comes from a real estate and construction background with over 30 years of experience. Among others he was a former president of the Real Estate and Housing Developers Association (Rehda) and currently chairman of Kwong Wah Yit Poh Press Bhd.
Past news reports, citing records from the Companies Commission of Malaysia, have reported Ong as a business partner of Jho Low’s father as both are shareholders and directors for 30 years of Wonder Bay Sdn Bhd, a Penang-based property development company, since its incorporation in 1995.
Notably Ong has signed off every 1MDB annual report in his capacity as director alongside the respective CEO at the time, according to records.
Christopher Lee Sian Teik (Feb 27, 2009 – March 23, 2009)
A lawyer with over 25 years’ experience, Lee is joint managing director of law firm Christopher & Lee Ong and specialises in capital markets, mergers and acquisitions, and special projects. He was admitted to the Malaysian Bar in 1986.
According to his firm’s website Lee has also advised clients on financing exercises and transactions, both conventional and Islamic, including issuances of sukuk, bonds and debt papers.
His expertise also extends to corporate debt restructuring and over his career he has been involved in negotiating and advising on power purchase agreements and concession agreements, although his time at 1MDB board does not match the time frame of 1MDB’s later power asset purchases.
Ashvin Jethanand Valiram (from Feb 2, 2010)
A director at 1MDB, Ashvin is a luxury goods trader who also specialises in travel-retail. He is the third-generation owner of the Valiram Group, often credited for growing the business into a glamorous luxury niche.
In 1996 he broke a new niche by opening the world’s first retail store at an airport focused on selling fabrics. Today the Valiram Group operates 250 stores in 10 countries, representing 150 brands from Australia, China and Malaysia to Thailand and Russia.
According to the prime minister, Ashvin’s inclusion in the board is due to his entrepreneurial spirit, though the socialite is also often said to be close to the premier’s family. It is unclear how 1MDB benefits from his entrepreneurial spirit.
THE BOARD OF ADVISORS
Nor Mohamed Yakcop
1MDB’s board of advisors, chaired by Prime Minister Najib Abdul Razak, includes a number of familiar as well as new faces. Among them is Nor Mohamed Yakcop, former minister at the Prime Minister’s Department as well as former finance minister II between 2004 and 2009.
Among others Nor Mohamed is also remembered for a 32-year stint at Bank Negara Malaysia and was allegedly involved in a controversial currency speculation scandal involving the central bank in the early 1990s, with losses hitting RM30 billion by some estimates.
Mohd Sidek Hassan
Former chief secretary to the government for six years between September 2006 and June 2012, Mohd Sidek is also chairman of Petronas since July 2012. Interestingly he was born in Pekan, which is the prime minister’s constituency.
Among others Mohd Sidek’s career in public service has included being secretary-general at the Ministry of International Trade and Industry. A controversy some two over years back involved his daughter and son-in-law when the two managed to win most of available feed-in tariff quotas issued by the Ministry of Energy, Green Technology and Water.
However the ministry refuted claims of preferential treatment, stating the bidding was done online and automatically via a first-come, first-served basis.
Sheikh Hamad Bin Jassim Bin Jabr Al-Thani
A former prime minister of Qatar, Sheikh Hamad is officially special advisor to 1MDB and was appointed following a memorandum of understanding (MoU) signed between 1MDB and Qatar Investment Authority (QIA) in May 2010.
Sheikh Hamad is also CEO of QIA. Days after the MoU was signed, news reports emerged suggesting that QIA will partner 1MDB in its 486-acre Bandar Malaysia development on the site of a former military air base at Sungai Besi.
1MDB is presently in the process of selling a 60% stake in the Bandar Malaysia project and is mulling bids from two undisclosed bidders.
The company has suggested before that the bidders are foreign entities.
Khaldoon Khalifa Al Mubarak
Another Middle-Easterner on the 1MDB advisory board is Khaldoon Khalifa, who is CEO of Abu Dhabi investment company Mubadala Development Co. Interestingly Khaldoon became chairman of the Manchester City football club in 2009 when the Abu Dhabi United Group took partial control, succeeding former Thai premier Thaksin Shinawatra.
Notably in October 2012 Mubadala signed a deal with 1MDB to work on the Tun Razak Exchange (TRX) development, the twin project of Bandar Malaysia development with an estimated gross development value of as high as RM40 billion.
Ali Bin Hamsa and Mohd Irwan Serigar Abdullah

Ali Hamsa
Ali Hamsa is presently chief secretary to the government while Mohd Irwan is secretary-general to the Ministry of Finance, which is helmed by Prime Minister Najib in his capacity as finance minister.
Ali took over from Mohd Sidek in 2012 and comes with a background in economics, obtaining a Master’s degree from Oklahoma State University, US in 1986 before going on to obtain a PhD in environmental science and economics in 1997.

Mohd Irwan Serigar Abdullah
Meanwhile, Mohd Irwan also holds a PhD in economics from the International Islamic University in Kuala Lumpur.
Separately he had overseen a secret government fundraising company called Pembinaan PFI Sdn Bhd, which was originally set up as a private finance initiative for public projects but operates in opacity (see Issue 003 of KINIBIZ Magazine).
Chang Zhenming
A former professional Go player, Chang is presently chairman and president of the CITIC Group of China. His professional career had seen decades spent in varying roles across the CITIC Group, which stands for state-owned investment company China International Trust and Investment Corp.
In particular some of his time at CITIC had seen close involvement with the financial markets, specifically in respect of bonds. In the early 1990s he was in charge of fundraising for CITIC via issuing bonds in the international markets, foreign exchange and securities.
Bernard Arnault (no longer on board of advisors)
With a nett worth of US$36 billion as of Nov 30, 2015, Bernard Arnault is the 13th richest man in the world and the top in France by nett worth. He is chairman and chief executive of LVMH Mo√ęt Hennessy Louis Vuitton, considered among the world’s leading taste-makers with an empire spanning 70 brands including Dom Perignon, Bulgari, Louis Vuitton, Fendi and Sephora.
It is unclear why Arnault was included in the board of advisors for 1MDB and when he left – the 1MDB website no longer lists him as a member of the advisory board.
However, he is no stranger to controversy following news reports in the UK over close ties with former British prime minister Tony Blair’s family when the latter was still premier. British media have photographed him going on holidays with Blair’s family and the latter became advisor to LVMH in 2010.

21/07/2016

NAJIB'S RM2.6 BILLION SAUDI ROYAL "DONATION' PROVEN A TOTAL FABRICATION & BLATANT LIE BY US DEPARTMENT OF JUSTICE. NAJIB, YOU ARE A COMPLETE DISGRACE TO MALAYSIA. RESIGN TODAY!


Finally, serially lying, defrauding, looting, plundering and international money-laundering Malaysian Prime Minister Najib, has been nailed right between his eyes. As far back as in early 2013, I had written that the financial affairs of 1MDB stank to high heaven, and that it had fraud and fake and dummy corporations written all over it. At that time, 1MDB's loan exposure was RM20 billion, which has now blown to over RM50 billion. CLICK HERE.

I had also said later that it is obvious to those who understand a bit of finance and accounts, that this rape of 1MDB and the related RM30 billion (US7 billion) misappropriation had been planned from day 1 by none other than Najib.

Now, we have proof of all this from the 136 pg. US Department of Justice (USDoJ) indictment document, the result of investigations conducted by its Kleptocracy Asset Recovery Initiative (KARI) arm on 1MDB's financial misdeeds. CLICK HERE.

KARI is seeking to recover a global record of over US$1 billion of assets acquired with money laundered from 1MDB by various named individuals like Jho Low and Riza Shariz. Below is a video of the press conference held yesterday by US Attorney General Loretta Lynch, DoJ, and the FBI


video


Make no mistake. This document, obviously for political reasons, does not identify Najib by name. It however, clearly links Najib to the heist of the century in an indirect, but certain way, on pg.11:

28. MALAYSIAN OFFICIAL 1 (MO1) is a high-ranking official in the Malaysian government who also held a position of authority with 1MDB. During all times relevant to the Complaint, MALAYSIAN OFFICIAL 1 was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 

29. Riza Shahriz Bin Abdul AZIZ (“AZIZ”), a Malaysian national, is a relative of MALAYSIAN OFFICIAL 1 and a friend of LOW. He co-founded Red Granite Pictures, a Hollywood movie production and distribution studio, in 2010. 

Of course, everyone knows that Riza is Najib's step-son through his (second) marriage to Rosmah. So, the identity of MO1 is obvious.

But what has now clearly emerged is that besides all that looting, Najib's insistence in the face of global incredulity about RM2.6 billion making its way into his personal bank account with Arab Malaysia Merchant Bank (AMMB) being a "Donation from Saudi Royal(s) has been proven to be a complete fabrication and blatant lie.

The DoJ document traces the source of these funds as from money raised for 1MDB through bond issues managed by Goldman Sachs. The money was moved backed and forth off-shore by Najib's co-fraudsters to conceal its true source, in what is termed as "layered transactions". Refer below to extracts from the DoJ indictment. Click on the picture for expanded view:



So, the game is finally up. In time to come, the USDoJ may press criminal charges against Najib. One way or another, Najib is sure to go down in Asian history, if not the world, as the most crooked prime minister ever. He is a disgrace to the good name of his father, ex-prime minister Tun Abdul Razak.

It will not be enough for him to just resign, he must be put away behind bars for a very, very long time. There should also be an RCI into his and Rosmah's involvement in Altantuya's murder, and the allegations linking him to Hussein Najadi's killing in broad daylight. It would also surprise no one if it transpires that the source of several million ringgit that flowed through Rosmah's personal bank account is also linked to 1MDB funds!

More than that, all those who assisted Najib in this huge fraud and covered up for it - the AG, the PAC and its "Cari Makan' Chairman, sycophantic Ministers, slow MACC investigators, the IGP and party hacks, CEO's and directors at 1MDB, Bank Negara officials and many others - must all be tried and made to join Najib at the Bamboo River Resort for an equally long time. At the same time, our Constitution will have to be amended, and the wings of a prime minister clipped, to ensure that no future prime minister can ever again flout the rule of law by compromising the separation of powers of the various arms of government.

This is not about revenge, but to ensure that such an episode as the 1MDB affair (and the Altantuya and Hussein Najadi murders, with a big question over the killing of Kevin Morias) can never be repeated, especially by money and power crazy individuals like Najib, collectively aided by a criminally minded prime minister's government of thieves!

18/04/2016

NAJIB IS DEEMED / DE FACTO 1MDB DIRECTOR BY LAW. HAFARIZAM & ARUL KANDA TALK RUBBISH!

by stuff it boot-lickers, Donplaypuks® intrepid correspondent for brown-tongue affairs


CLICK ON LINK BELOW TO BUY BOOK 'MURDERED IN MALAYSIA:THE ALTANTUYA STORY' BY E.S. SHANKAR of http://esshankar.com/:





As boot-lickers come and go, serially lying Malaysian PM Najib and BUMNO/SCUMNO have more than their fair share of them. But few come close to to the stupidity and incompetence of Najib's sycophantic lawyer Hafirizam Harun or 1MDB President and Chief Executive Managing Director Arul Kanda.

The world now knows that another boot-licker, Hassan Arifin, the Chairman of the Public Accounts Committee (PAC) conspired with Najib to issue a statement that he was not involved in the affairs of 1MDB. No sooner was this statement made than it was revealed that under the Articles of Association of 1MDB, it could virtually do nothing without Najib's written approval.

More than that, it was revealed that since 2009, Najib had in fact signed numerous resolutions and letters and guarantees authorising 1MDB to raise billions of ringgit of loans and plough it into "investments". Now, we must also keep in mind at all times that Prime Minister Najib is the man who started 1MDB. He has been both Finance Minister AND Chairman of the Advisory Board of 1MDB from the very beginning in 2009. Given these facts, there was no way that Najib was not involved in 1MDB's affairs and that the buck did not stop at his desk! SEE PICTURE BELOW.
Furthermore, under Section 4(1) of the Companies Act 1967, a director is a person who is formally appointed as such, or, regardless of whether he is appointed so or not, is one from whom the Chairman, Board of Directors and top management are used to taking and acting upon instructions from. Thus, Najib is considered a deemed director or de facto director of 1MDB.

Corporate history all over the world is familiar with bankrupts or criminals continuing to run companies by remaining in the shadows, while their wives or children or nominees act as fronts in the operations. So, whichever way we look at it, Najib is involved up to his eyeballs in the affairs of 1MDB.

When the news of Najib having signed numerous 1MDB resolutions and documents came to light, quick as a flash, his boot-licking lawyer Hafarizam came up with the statement that basically Najib had signed the documents blindly, and therefore all the fault lay with 1MDB's board of directors and management! Huh!

The prime minister's lawyer who had served so many years as a Deputy Public Prosecutor with the Attorney Generals Office does not know that a person's signature on any legal document is prima facie evidence that he has read its contents, and that it's up to him to prove otherwise? That ignorance of the law is no defence, especially for a prime minister who has the entire machinery of government to advise him before he signs anything?

Also, when questioned by Channel NewsAsia why Najib had yet to sue the WSJ, Hafarizam not only showed his ignorance of national and international laws, but he also resorted to racism and false patriotism to deflect Najib's now exposed looting of at least RM4.2 billion of 1MDB's funds for his personal gain. CLICK HERE AND ON VIDEO BELOW.

video

I am no lawyer, but the law is not that complicated on this subject. Any citizen or foreigner who commits a crime in a country is liable for prosecution in that country. In the event that the alleged criminal is a foreigner who has returned to his home country, the prosecuting country can only ask him to return voluntarily to face charges, or apply for extradition. Extradition can only succeed if there is a treaty between the two countries AND the offence is an extraditable offence.

In Najib's case, investigations are going on in Switzerland, USA, Hong Kong, Singapore, Germany and Luxembourg for offences ranging from money-laundering to outright fraud, all committed in those countries. He can be extradited to face the music if the prosecutors there feel they have a good case and there is an extradition treaty between the and Malaysia.

So, why was Hafarizam waffling like an amateur and deliberately being thick?  Firstly, in 2009, Hafarizam and ex-Chief Justice Zaki were responsible for allowing an elected state government in Perak to be replaced by BUMNO/SCUMNO through the back-door, as it were. CLICK HERE. Najib was of course pulling the strings from the shadows.

Then Hafarizam and Zaki's wife won the Federal Government's RM2.2 billion price-inflated KIDEX toll highway contract. CLICK HERE. There is no doubt that between them, they would not know how to lay two stones together side by side, let alone handle anything as technical and complicated as constructing a toll highway. 

Unfortunately for them, the Selangor state government cancelled their approval for the contract in 2015, as KIDEX had not complied with several of their pre-contractual conditions such as the requirements to hold proper public inquiries and conduct unbiased traffic studies. At RM161 million per kilometer, KIDEX would have been the most expensive highway in Malaysian history, including its concession period of an unheard 48 years!! That explains why Hafarizam is still  defending the indefensible and sucking up to Najib, doesn't it?

Hafarizam then insulted the WSJ and other foreign news organizations with a racist remark by saying that their exposes on Najib's massive criminality was tantamount to attempted re-colonization of Malaysia by the Americans, the British and the whites!

So, what should Malaysia's attempts to prosecute Justo or Clare Rewcastle-Brown be seen as? Revenge against the whites by  a brown? And when exactly was it that the USA colonize Malaysia?

Not to be outdone, in came Arul Kanda, 1MDB's President, right on cue. Concrete proof has now been produced that about US$4.2 billion or RM17 billion had been fraudulently diverted from 1MDB on Najib's instructions, for his personal gain. 

RM14 billion was diverted from 1MDB to off-shore companies headed by Abu Dhabi Aabar Plc Chairman Khadem Al Quabaisi and his CEO, Mohamed Bawady Al-Husseiny. These off-shore companies had names very similar to Aabar companies so much so that Malaysian auditors appear to have been fooled by them.

RM3 billion (US$700 million) was transferred to Najib-crony and 1MDB investment advisor Low Taek Jho of Good Star Ltd. incorporated in the Seychelles.

All three have repeatedly denied their criminality despite having been exposed by Sarawak Report and the WSJ. Chairman Hassan Arifin refused to summon them to testify at PAC hearings. When Arul Kanda was questioned, his answers now published for public consumption reveal that he was pretending not to understand questions put to him or playing around with words.

Now that the real Aabar's parent company IPIC in Abu Dhabi has made an announcement to the London Stock Exchange that they never received the RM14 billion, Arul Kanda suddenly thinks that 1MDB could have been the VICTIM of a fraud!!?? 1MDB was not the victim of fraud, it was the perpetrator!

But that there was fraud is exactly what Sarawak Report, Tony Pua, myself and a few others have been saying since 2013. Yet, when Arul Kanda took over as CEO in January 2015, he did nothing to get the books audited for fraud! It is not 1MDB that was defrauded, but the PEOPLE of Malaysia.

The fact is this fraud involving RM17 billion must have been committed by Najib with the tacit assistance of the Chairman and of some of the directors, if not all, and the top-management of 1MDB such as Sharol Azlrul Helmy. This is obvious since Najib had to sign off on these massive bank transfers and another RM4.2 billion of "donation" more that made its way to his personal bank account in Malaysia.

The hole in 1MDB's balance sheet is therefore between RM20-30 billion, plus another RM4 billion of loan from KWAP utilised in dodgy Mongolian/Indon coalmine venture investments and subsequently transferred to MoF by Najib's orders. 

So, Hafarizam, Arul Kanda and everyone else at 1MDB and the Cabinet can continue lying and covering-up for Najib and themselves, but the exact amount of money misappropriated, misused and swiped by 1MDB Chairman, directors and top executives, Najib and his government of thieves will be ascertained soon, for the world to gasp at! 

This is surely the heist and crime of the century in Malaysian if not world history!

And note too, the similarity in modus operandi of Najib, the police and Attorney General in the murders of Altantuya (2006) and Hussein Najadi (2013) and Kevin Morais (2015) and in the investigation of 1MDB. The PAC finally only recommended that Shahrol Azrul Helmy of 1MDB be charged for a crime, but refused to name Najib as the main person who should be prosecuted. In the two murder cases, till to-day the police have refused to investigate to identify and charge the mastermind who gave the orders to kill. 

Najib has the touch of the plague about him; whatever he touches withers, goes rotten and dies!!


Donplaypuks® with boot-licking and brown-tongueing, man!

12/04/2016

AUDITOR GENERAL'S 1MDB REPORT NAMES NAJIB AS MAIN CRIMINAL! CLUELESS SERIGAR ABDULLAH NEXT BANK NEGARA GOVERNOR?

by serial lying is fun, Donplaypuks® intrepid correspondent for civil serpent affairs

CLICK ON LINK BELOW TO BUY BOOK 'MURDERED IN MALAYSIA:THE ALTANTUYA STORY' BY E.S. SHANKAR of http://esshankar.com/:




CLICK ON PIC FOR ENLARGED VIEW

No, the Auditor General's 1MDB Report has not been leaked to me, yet. It is still locked up and access blocked from the Rakyat (citizens) under the Official Secrets Act (OSA) by a dark and dirty conspiracy involving serially lying, defrauding, looting, plundering and possibly murdering Najib, Attorney General Pandi and Speaker Pandi.

But, my stance is that if the Prime Minister and his party and government of thieves can serially lie, abuse their Constitutional powers, and fling all considerations of ethics, morals, honour and integrity into the drain, why should I play fair and stick to the Marquess of  Queensbury rules? CLICK HERE.


So, I shall rely on common sense. If there was nothing incriminating in the Auditor General's 1MDB Report about Najib's criminal conduct in defrauding and looting 1MDB, why would anyone block access to it by classifying it under the OSA?


More than that, the normal procedure is for the Auditor General to tender his report to Parliament. Having done this, it is Unconstitutional for Najib and the Pandi & Pandi duo to classify it under the OSA.


Anyway, I have been reliably told that the Auditor General does in fact name Najib as having committed fraud, CBT, misappropriation of funds, abuse of power, breach of fiduciary duty, criminal malfeasance, money-laundering, looting, plundering, obstruction of justice and lying about money raised by 1MDB as loans and guaranteed by the government.


That is to say RM46 billion of loans, of which RM4 billion borrowed from government pension fund KWAP that was transferred to MoF on Najib's orders, when it became clear that the money had been fraudulently diverted by Najib for his own use and benefit. Nevertheless, this RM4 billion too has to be repaid to KWAP from the Rakyat's pockets!


1MDB President Arul Kanda has also publicly confirmed that RM18 billion paid by 1MDB to Malaysian tycoon Ananda Krishnan for IPPs, was inflated. This is a clear admission of fraud and criminal act of possibly, about RM4 billion. Where did this RM4 billion disappear to?


If that's not enough to send Najib to prison for the rest of his life with no remission, then I do not know what is. Three murders have also revolved around Najib for which the gallows may well be awaiting him - Altantuya, Hussein Najadi and Kevin Morais. CLICK HERE.


And all those who have helped Najib cover-up this crime and heist of the century, (CLICK HERE AND STUDY THE PICTURE) including Public Accounts Committee (PAC) Chairman 'Cari Makan' Hassan Arifin and 1MDB President Arul Kanda, should join him in adjacent cells in Bamboo River Resort (Sg. Buloh Prison).!



Now we come to Mohamad Irwan Serigar bin Abdullah, Chief Secretary to the Ministry of Finance and possessor of a PhD in Economics from the International Islamic University of Malaysia. He also did an advanced Harvard management program in 2008. CLICK HERE.

He is a career civil serpent who has risen up the ranks since 1984. He sits as advisor or director (e.g Bank Negara, Felda GV, Khazanah) at dozens of GLCs where the MOF has control. He is an advisor, as is Chief Secretary to the Government, Ali Hamsa, to 1MDB where PM & Finance Minister Najib is the Chairman of the Board of Advisors.


The minutes of the relevant PAC hearing were made public, after the whitewashed PAC Report on 1MDB was released on 7 April 2016. What emerged, is, to say the least, astounding. It seriously calls into question Serigar's integrity and academic qualifications, government service experience and intelligence.


When asked about all the RM20-30 billion missing from 1MDB funds and the casual arrogance and defiance with which 1MDB's directors, CEOs and executives flouted authorization and approval policies and procedures, Serigar's testimony was incredible (Of course, one has to wonder too what exactly Chairman Lodin Wok Kamaruddin, Najib's crony from the RM8 billion Scorpene submarine procurement contract connected to the Altantuya murder, thought his job and function was at 1MDB):


"The Advisory Board never met. We don't know. We read about it in the newspapers. We were side-lined'!!!??? CLICK HERE.


The Chief Secretary to the MoF, a man who has spent 32 years in the civil service, did not know about 1MDB's $46 billion borrowings and fraud there? Remember, 1MDB is a 100% subsidiary of the MOF. It needed MoF and Treasury approvals to borrow all that $46 billion, and the MoF did issue guarantees and letters of support for 1MDB to borrow that stupendous sum of money.


PM AND Finance Minister Najib was Serigar's boss whom he must have met every day when 1MDB was borrowing money like it was going out of fashion. They both sit on the Board of Advisors of 1MDB as does Chief Secretary Ali Hamsa.


Yet, he has the gall to openly lie at the PAC hearing that he did not know what was going on, Is that how a PhD holder who has done a stint at Harvard manages his portfolio of work? Is that how the top man at the MoF, the Chief Secretary, prioritises his work in a RM46 billion investment - by waiting to read about developments in the newspapers? The mind boggles!


It never occurred to Serigar to ask Najib or the directors about their financial affairs and status? He never asked for quarterly management financial statements and scrutinise them? All these top civil serpents and 1MDB executives like Arul Kanda went to the PAC inquiry with the deliberate intent of appearing to be stupid and obstruct and cover up for Najib and the $46 billion fraud at 1MDB. That's for sure as the sun will rise in the East tomorrow morning.


However, if that is remotely not the case, God help us, because there must be dozens more of billion ringgit projects under the MoF that Serigar has been neglecting, and more malfeasance and fraud waiting to explode in our face!


God help us too if the Wall St. Journal is right that Najib has ear-marked Serigar to succeed Zeti as the next Governor of BNM!!


Who else sits on the Board of Advisors of 1MDB, besides Chairman Najib, Serigar and Ali Hamsa? Well, well, well, lookee here:


1. Nor Mohamed Yakcop is the Minister in charge of the EPU (Economic Plundering Unit) and Deputy Chairman of Khazanah, the government's investment arm. But of course, Nor was sacked from Bank Negara Malaysia (BNM) in the early 1990's for being the principal forex trader whose actions nearly bankrupted Malaysia. Then PM Mahathir first lied about BNM's forex losses, but was caught out by DAP's Lim Kit Siang who astutely spotted a RM6 billion hole in BNM's balance sheet. Eventually, it transpired that the actual losses were in the region of RM30 billion, which Mahathir and BNM illegally hid by revaluing gold and other assets! CLICK HERE.

2. Sidek Hassan, ex-Government Chief Secretary. Before retirement, he tried to ram through a budget proposal whereby his salary and that of top civil serpents would be double that of the prime minister and ministers! Najib stopped just short of sacking him. CLICK HERE. Yet today, Sidek is also Chairman of Petronas!! What hold does he have on Najib, for God's sake?


I am positive that if these two were to be questioned about 1MDB, they too would say they knew nothing about it, or for that matter, if a great fraud were to be discovered at the EPU, Khazanah or Petronas.


Such is the incompetence, shameful and disgraceful attitude and criminal conduct of many of Najib's top appointees to the civil service and GLCs! They are paid fabulous salaries and perks from the Rakyat's hard, hard earned money, yet go about their jobs without any sense of understanding or responsibility, while the looting and plundering continues unabated all around them. The truth is, most of them are responsible for and participate in the looting and plundering themselves.


When we have removed Najib and his government and administration of thieves from office soon, we must also book places in Bamboo River Resort for all these thieving civil serpents and also restructure the entire civil service, so that this system of corrupt patronage will no longer be possible!


Donplaypuks® with saying you were not consulted or don't know what happened when you are paid fabulously to do a good job, Najib, Lodin Wok, Ali Hamsa, Serigar, Yakcop and Sidek. We are coming after you with both barrels loaded!