By KINIBIZ
Tony Pua
Controversial 1Malaysia Development Bhd (1MDB) is beating around the bush as “criminal evidence” implicating the company had already been published in plain sight of all Malaysians, said Petaling Jaya Utara member of parliament (MP) Tony Pua.
In a statement, Pua said 1MDB president and chief executive officer Arul Kanda is continuously focusing on the source of leaked information and documents that allegedly implicate 1MDB while ignoring the wrongdoings exposed in the same documents.
At the same time 1MDB had not responded to various allegations backed by the leaked information and documents, added the MP.
Among others, these include a transfer of US$700 million by 1MDB in 2009 to a bank account controlled by Good Star Ltd, which is unrelated to the intended recipient PetroSaudi International Ltd but was instead controlled by businessman Low Taek Jho who has no official role at 1MDB.
The company also allegedly misled its auditors on the proceeds of its Cayman Islands investments redemption amounting to US$2.318 billion.
“I then asked Arul yesterday, as the president of 1MDB, which is more important, catching the perpetrators behind the multi-billion ringgit crimes which took place in 1MDB as exposed by the leaked documents, or catching the parties who leaked these documents incriminating the people who scammed the taxpayers,” said Pua.
“Arul Kanda then responded with one of his now infamous twist and turn, alleging that I’m making wild allegations without proof or evidence. He even urged me to ‘walk the talk’ and provide ‘clear cut evidence’ to the lawful authorities for further investigation,” added the MP. “One can see clearly how Arul is merely going in circles.”
Pua added that he had even lodged a police report with the relevant documents on the matter and that the documentary evidence published by Sarawak Report, New York Times, The Wall Street Journal and the Edge Publications since January this year is as “clear cut” as can be.
“The above are a mere fraction of the damning evidence of fraud and other criminal wrongdoings in 1MDB, on top of dozens of other questions pertaining to dodgy deals carried out by the state-owned firm,” said Pua. “Arul Kanda’s refusal to be open and transparent about all of the above shenanigans while relentlessly deflecting them against 1MDB’s critics goes to show that his primary job is to cover up for those who have committed wrongdoings.”
BNM misled
The war of words between Pua and 1MDB continues amid a renewed controversy around the self-styled strategic development company over findings that it misled Bank Negara Malaysia (BNM) in 2009 to procure permissions for overseas fund transfers amounting to US$1.83 billion (RM7.58 billion at the current exchange rate).
This caused BNM to revoke three permissions issued under the Exchange Controls Act 1953 (ECA) and issue a directive to 1MDB to repatriate the funds. 1MDB was also instructed to submit a plan to BNM for this purpose.
BNM had earlier been investigating 1MDB under the ECA for knowingly or recklessly making a false statement and its investigation papers were submitted to the Attorney-General’s Chambers (AGC) on Aug 21, 215.
While the central bank recommended that criminal prosecution proceedings be initiated against 1MDB, the AGC held that the company did no wrongdoing and informed BNM on Sept 11 that no further action will be taken.
“(The attorney-general) has the right to make that assessment,” Zeti said to Bloomberg on Oct 11. “But for the central bank we believe it is very, very important to comply with our rules and regulations that we have in place. This is vital, it’s critical for the functioning of the financial system (and its integrity).”
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