RM277bil lost to corruption in 5 years, says MACC chief
RM277b based on country’s cumulative GDP from 2018 to 2023
“Unfortunately, we’ve lost it due to corruption.”
My Comments :
This is a shocker.
RM277 Billion lost to corruption in FIVE YEARS ??
That is about RM55 Billion per year.
Does this mean that in the last ONE AND A HALF YEARS (November 2022 until now) we have lost about another RM82 BILLION ??
The IMDB corruption (the Mother of all Corruption Scandals) was stated at around RM40 Billion. (We do not know the real figure - it could be higher). The 1MDB scandal took place over a few years - 2009 till maybe 2012.
But according to the MACC Commissioner we have been losing more than one 1MDB's worth of money (RM55b) every year for the past five years. This must include 1.5 years under this latest gomen.
RM55 billion per year is a lot of money. It is many times more than the Annual Budget for many State governments in Malaysia. The Perak State Budget for 2024 is only RM1.35 Billion.
Has all that money (RM277 billion lost in FIVE YEARS) been lost without a trace?
With so much money lost the MACC should be able to identify what are the cases involved and who are the culprits involved?
1MDB's RM40 billion required the involvement of the Prime Minister who is now in jail. We have seen that indeed the entire system of government was abused and co-opted in order to make the 1MDB corruption happen.
This news should be of some small consolation to Bossku because RM277 Billion corruption in FIVE YEARS does make his 1MDB scandal look like feeding peanuts to the birds at the park. It almost makes his latest application look not too unworthy after all.
RM277 billion is about 70% of the 2024 Budget.
A huge amount. What is the MACC doing about it?
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.
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