ROYAL COMMISSION OF INQUIRY FOR 1MDB

It is obvious that the Bugis is in dire straits. Various pressures from within and outside the country on his corruption is mounting day by day. For example, a RCI on 1MDB is looming.

His mental state is deteriorating and questionable to govern the country. His attacks on the opposition are not based on real issues but personal. He is afraid of his shadow. 

Cash is actually the noose that will eventually tighten around the Cash King's neck. 

(extracted from Che Det)

RM58,000 million raised from these sources constitute money that came into 1MDB system. If we assume that 50% got stolen, then the stolen amount is around RM29, 000 million.

Table 1: source of funds that can be stolen from.

sumber	Nilai(RM bilion
Goldman Sachs	28.6
KWAP	4.00
Lain2	22.13
Derivatves	4.10
Jumlah	58.83

4. On the other hand the Singapore prosecutors have found

i. Yak Yew Chee, former director of Swiss bank BSI, guilty of four criminal charges related to Malaysia’s state investor 1MDB.
ii. Yvonne Seah Yew Foong, a former BSI private banker, was sentenced to two weeks jail and fined $10,000 becoming the second person convicted in Singapore’s probe into 1Malaysia Development Bhd.
iii. Former BSI banker Yeo Jiawei was jailed for 30 months for witness tampering in 1MDB scandal.
iv. Falcon Bank’s ex-Singapore branch manager, Jens Sturzenegger, jailed 28 weeks and fined S$128,000 in 1MDB related scandal.

5. Also reported by the Straits Times of Singapore is Sturzenegger’s ties with Jho Low (Low Taek Jho) a close friend of Najib, “accused around the world of being at the centre of alleged massive money laundering linked to 1MDB”.

6. Clearly Singapore finds a lot of things wrong with 1MDB funds and management. But Malaysia’s famous Attorney General declares there is nothing wrong in the operation of 1MDB money. He does not see any need for continued investigations.

7. It cannot be that 1MDB money flew on its own to Singapore into the hands of the four crooks named. Somebody in Malaysia who managed 1MDB must have sent the money to Singapore. Somebody from 1MDB must have had dealings with the crooked Singapore bankers and the banks involved. Somebody in 1MDB’s management must know about the systematic siphoning of 1MDB money, or abuses of the authority to handle it.

8. But the A.G., the Malaysian police and 1MDB executives are not interested. The whereabouts of the 1MDB money and the siphoning of a substantial amount of it by various people seems to be of no concern to Malaysian authorities. That billions of Ringgit of 1MDB money have been lost is also of no concern to Malaysian authorities, the 1MDB managers and Najib as the sole authority on 1MDB money and as Prime Minister of the country.

9. When the BMF money was lost way back in 1981 the Government set up a committee of three, headed by Tan Sri Ahmad Nordin, the Auditor General then, to investigate the management of BMF and the losses, although the money lost was not Government money. A white paper was issued and parliament debated the matter openly. The report was not placed under the Official Secrets Act.

10. Civil suits against BMF officials were initiated by the Government and extradition began to bring back Lorrain Osman.

11. The amount lost by BMF was about USD47.5 million (RM118.75 million at the exchange rate in 1980s), a piddling sum compared to the RM42 billion (42 thousand millions) involved in 1MDB scandal. Yet the Government of that time initiated action against the culprits. In the end Lorrain was jailed and others who were implicated punished or fled the country.