FOREX - How Lim Kit Siang falls from grace

As I posted in RCI on FOREX in "New" Malaysia?? Wakakaka, de facto Law Minister Liew Vui Keong has tutup pintu to further actions on the findings of the Royal Commission of Inquiry (RCI) on Bank Negara (BNM)'s foreign currency dealings (FOREX) in the 1990s.

Liew said the NFA (no further action), presumably a Putrajaya decision (wakakaka), has been because of a lack of documentary evidence of the alleged misconduct.

Furthermore, and this beats the hell out of me, the RCI’s secretary Yusof Ismail, who made the original police report on 30 Nov 2017 (then under a BN government, wakakaka) has now retracted that police report.

RCI’s secretary Yusof Ismail on 30 Nov 2017

submitted police report on 30 Nov 2017 (under BN govt)

withdrew police report presumably after 05 May 2018 (under Pakatan govt)

wakakaka   

Hilarious, ain't it? It calls for a BIG wakakaka.

The RCI findings tabled at the Dewan Rakyat on 30 Nov 2017(remember, the government then was still BN, wakakaka), claimed that a humongous RM31.5 billion [doesn't that beat the alleged Najib's RM2.6 billion?] was lost due to Bank Negara's "excessive" and "speculative" foreign exchange activity between 1992 and 1994.

I wonder who was the 'hands-on' PM then? Wakakaka.

OK, the RCI also established that Nor Mohamed Yakcop, who was part of BNM’s management at the time, was the person in charge of the FOREX dealing operations. But we know he was the 'scapegoat', wakakaka.

The RCI finding also said the FOREX incident involved a criminal breach of trust under Sections 406 and 409 of the Penal Code.

It further reported that former premier Dr Mahathir Mohamad(but today the PM, wakakaka) and his then-deputy Anwar Ibrahim(today what is Anwar? wakakaka) had likely abetted Nor Mohamed and hid certain facts from the cabinet.

Wakakaka, what could be more clear that that. In fact, let's read what the RCI finding said:

“Although he [ie. Nor Mohamed Yakcop] had dominion over BNM’s funds and seemed to have had a free hand in forex dealings, he could not have carried on for such a long time without the direct or tacit approval of his superiors and/or other persons in authority."

“Therefore, the commission assessed the joint liability of these persons, which could fall either under Section 34 or Section 107 of the Penal Code and explained as having the common intention or abetting.”

The RCI named then-PM Mahathir, then-DPM Anwar, BMN Governor Jaafar Hussein, his deputy Lin See Yan, and BNM's board of directors as having joint responsibility for the humongous loss.

The RCI recommended that then-PM Dr Mahathir Mohamad and his deputy Anwar Ibrahim be investigated to determine whether they had concealed facts from the cabinet, wakakaka.

In fact, the RCI was reported to have use that 'yucky' word (which required palm oil to assist, wakakaka) 'PROBE'.

Malaysiakini's headlined the findings as RCI recommends Dr M and Anwar be probed, claims Daim abetted CBT.

Huh, why Daim?

The RCI accused former finance minister Daim Zainuddin of abetting Nor Mohamed in committing CBT.

Daim was finance minister until 1991, after which he was replaced by Anwar.

I wonder whether you know what CBT is?

Under financial impropriety, it is NOT 'Cognitive Behavioural Therapy' as some of you might suspect, BUT the following:

Whoever, being in any manner entrusted with property, or with any dominion over property, dishonestly misappropriates or converts to his own use that property, or dishonestly uses or disposes of that property in violation of any direction of law prescribing the mode in which such trust is to be discharged, or of any legal contract, express or implied, which he has made touching the discharge ofsuch trust, or wilfully suffers any other person so to do, commits“criminal breach of trust”.

Yes, CBT is “criminal breach of trust”.

Yusof Ismail, the belakang-pusing-ing RCI secretary, had said when submitting the police report (then in 2017 under a BN govt, wakakaka):

"The report is based on the RCI's investigations. We found that there is a possibility of wrongdoing by those involved in the forex dealings then."

"After this police will hand over their report to the Attorney-General's Chambers for further action."

But he has since 05 May 2018, wakakaka, withdrawn the report. I would have imagined the RCI disbanded after its report was completed (30 Nov 2017 or a few weeks after), so did Yusof Ismail withdraw the report after the RCI had bubar (disbanded), even when he was NO LONGER the secretary of a non-existing RCI?

Wakakaka.

Yes, I know the RCI recommendations have been scattered to the winds when one of those found guilty is the current PM and another an eminent head of the Malaysian Council of Elders, wakakaka.

But the most striking silence in this revelation, that of the current Mahathir government classifying the RCI's findings on FOREX as NFA, has been that of loudmouth Lim Kit Siang.

He had for 30 over years raved and ranted about bringing Mahathir to accountability in the humongous FOREX loss, a scandal of international notoriety, yet today he keeps quiet like a kuai kuai mouse.

Lim KS had even written a book titled ‘The Bank Negara RM30 Billion Forex Losses Scandal’.

Now, how low has Lim KS descended to?