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Wednesday, August 26, 2015

Dr Mahathir still believes 1MDB funds went to Najib’s accounts, says report

Former prime minister Tun Dr Mahathir Mohamad still wants Datuk Seri Najib Razak to step down as prime minister saying he has 'undermined the legal system in the country'. – The Malaysian Insider pic, August 26, 2015.Former prime minister Tun Dr Mahathir Mohamad still wants Datuk Seri Najib Razak to step down as prime minister saying he has 'undermined the legal system in the country'. – The Malaysian Insider pic, August 26, 2015.Tun Dr Mahathir Mohamad has suggested that the US$700 million (RM26 billion) deposited in Prime Minister Datuk Seri Najib Razak's personal account in 2013 is linked to the state-owned investment firm 1Malaysia Development Berhad (1MDB).
Speaking to the Financial Times (FT), the former prime minister said he does not believe the official stand by Najib, and which was confirmed by the Malaysian Anti-Corruption Commission, that the deposit was a donation from a benefactor in the Middle-East.
“I don’t believe it is a donation. I don’t believe anybody would give that much, whether an Arab, or anybody," Dr Mahathir was quoted as saying by FT.
Dr Mahathir also reiterated his call for Najib to step down, saying it was necessary after the latter's alleged interference in the investigation into the state-owned investment firm and the RM2.6 billion deposit into his account.
"I think at some stage he has to go because today he has undermined the legal system," Dr Mahathir was quoted as saying by FT, referring to the sacking of Tan Sri Abdul Gani Patail as Attorney-General (A-G) and the promotion of members of a parliamentary committee which had been co-ordinating an investigation into 1MDB.
Those moves, together with the sacking of Tan Sri Muhyiddin Yassin as deputy prime minister for criticising Najib, have in effect shut down the inquiry, Mahathir said.
"They should be allowed to investigate, but he’s dismantled the institutions," he was quoted as saying by FT.
Mahathir also continued his assault on 1MDB's dealings saying he had advised Najib that the government-owned investment firm should not get into debt.
“When you borrow the money, it’s not sovereign wealth, its sovereign debt. I told the prime minister that we don’t need this and sure enough he got into trouble,” FT quoted Dr Mahathir as saying.
The fund is now struggling to service those debts and is engaged in a disposal of assets which insiders say may lead to the firm's winding down.
The Wall Street Journal had last month published documents showing how US$700 million was moved among government agencies, banks and entities linked to 1MDB and finally ending up in the prime minister's personal accounts in five separate deposits.
The prime minister and his supporters have vigorously denied any link between those funds and 1MDB, saying some of the documents are forged.
- TMI

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