WSJ’S ALLEGATIONS ON 1MDB ‘COMPLETELY FALSE’: MALAYSIAN GOVERNMENT

The Wall Street Journal had reported the money paid by troubled state investment fund 1MDB to a shell company in the British Virgin Islands was transferred to a company linked to Malaysian businessman Jho Low, who is said to have close family ties with Prime Minister Najib Razak. 

Channel News Asia

The Malaysian government on Tuesday (Apr 19) slammed the Wall Street Journal’s (WSJ) latest allegations that the money paid by troubled state investment fund 1MDB to a shell company later ended up in Prime Minister’s Najib Razak’s bank accounts, saying it was “completely false”.

Earlier on Tuesday, WSJ reported that some of the US$2.4 billion sent to an imitation company set up in the British Virgin Islands was transferred via intermediaries to Tanore Finance Corp – a shell company set up by a business associate of Malaysian businessman Jho Low, one of the figures involved in the 1MDB saga who is said to have close family ties with Mr Najib.

Investigators believe it was from Tanore that US$681 million was transferred to Mr Najib’s accounts in March 2013, WSJ reported, citing people close to the investigations.

In a statement, Mr Najib’s office denounced the report as a lie perpetrated by former Malaysian prime minister Mahathir Mohamad.

“The allegation that the funds were from 1MDB is completely false. This is a lie that Tun Mahathir Mohamad has unsuccessfully used to try and unseat a democratically-elected government,” read the statement.

“The Prime Minister has consistently maintained that the funds were a donation from the Royal Family of Saudi Arabia.

“After exhaustive investigations, this has been verified by multiple lawful authorities. Most recently by the Foreign Minister of Saudi Arabia, who confirmed that it was a genuine donation, nothing was expected in return, and Saudi Arabia considers the matter closed.‎”