Najib must pay for his crimes

 

 Despite former prime minister Najib Abdul Razak’s conviction on all four counts of power abuse and 21 counts of money laundering related to RM2.3 billion of funds, a 15-year sentence, an over RM11 billion fine or an additional 10 years in lieu, his pardon will still take centre stage at the Umno general assembly.

That is perplexing, puzzling, and completely over the top for what was once the premier party in the country, which has withered to a state of little relevance with 26 seats in Parliament compared to 109 in 2004, a comedown which looks set to continue.

Does it not matter to this party, which led the independence movement, that what Najib did amounted to the biggest kleptocracy the world had ever known, causing money to be stolen from massive bond issues, a first for this country and an assault on the nation?

Is it okay that billions were not only laundered but also stolen from borrowed funds with express authority given by Najib, who signed off on all the money transfers under the memorandum and articles of association of 1MDB, a supposedly strategic development company which chalked up over RM42 billion in liabilities?

How can you justify billions of ringgit in borrowings but very little available for use because most of it had been siphoned away through sham schemes for lavish and wild parties, pricey paintings, overpriced assets, a billion-ringgit yacht, expensive jewellery worth hundreds of millions for Najib’s wife Rosmah Mansor, donations for Umno divisional heads totalling several hundred million ringgit, and a host of other things?

Umno sinking low

Has Umno sunk so low that they are prepared to appeal for a pardon for Najib despite the billions in losses he incurred for the country, causing not only the smearing of the country’s name but huge opportunity costs which may amount to as much as RM100 billion in all?

Or is it because many of its divisional leaders also received money from Najib?

Is Umno not worried about the kind of message sent out if the biggest crook and felon this country has ever known is given a full pardon for his crime? Should they not be clamouring for a heavier sentence, which will send shivers down the spine of those who are thinking of committing similar offences?

Don’t the people in Umno, those people who say they are nationalists and loyal to country, race, and religion, recognise the heinous crime that Najib has committed, or are they mere politicians trying to protect their own kind from crimes against the state?

Loke’s acquiescence

So powerful is the move to get a pardon for Najib that those who want to celebrate a rightful and appropriate sentence for a crime of monstrous proportions have been threatened by Umno goons to the extent that the DAP secretary-general says there is no need for an extra stab against Najib.

Anthony Loke’s comments that his party’s fellow leader Yeo Bee Yin’s celebration of the decision of the court against Najib would damage cooperation within the Madani government is timid at the least and a gross acquiescence against morality and good sense.

If Umno can vociferously condemn a decision of the court, why can’t another person say she will celebrate the decision? Why be afraid of a party which has abandoned all sense of morality in the biggest criminal case of abuse of power and money laundering in the country?

DAP sec-gen Anthony Loke

DAP, succumbing to pressure, has lost an opportunity to assert its stand against corruption among politicians and to score some points with its voter base.

Abuse of power

It is immaterial to Najib’s conviction how much money is recovered; the point is that he abused his power to enable the theft, and money actually went into his account from the theft and not from any Arab donation.

Even if all the money is recovered, 1MDB did not have the money for long periods and still had to repay the borrowings with interest, owing as much as RM42 billion.

At a 10 percent per year opportunity cost, the amount lost would be a further RM42 billion after just seven years.

And then there is the cost of overpayments for assets and contracts, bond underpricing, and other costs, which would have added several billions more to take the figure to as much as RM100 billion, easily the biggest loss in any single venture for Malaysia.

1MDB still hangs heavily around Malaysia’s neck, and the release of the man primarily responsible, with the other, Low Taek Jho, who is at large and by most accounts is close to Najib and his wife, will be a gross travesty of justice.

Umno must not be permitted to carry this out. And if Prime Minister Anwar Ibrahim ties himself to this, the repercussions at the polls for the Madani government will be heavy.

Because of 1MDB, Umno no longer commands mass support - a corrupt party in steep decline. - Mkini

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P GUNASEGARAM affirms the saying that justice must be seen to be done. That means punishment must fit the crime for everyone.

The views expressed here are those of the author/contributor and do not necessarily represent the views of MMKtT.