Najib has incredible wealth on modest income

By admin-s Last updated Feb 12, 2015

(FMT) – Prime Minister Najib Abdul Razak must explain his family’s wealth, worth hundreds of millions of ringgit, in the wake of a February 8 expose by the New York Times. His official income was less than RM500, 000 per annum.

http://www.nytimes.com/2015/02/09/nyregion/jho-low-young-malaysian-has-an-appetite-for-new-york.html?_r=1

“The expose which surfaced the incredible wealth of Najib’s immediate family, raised questions on how this wealth has been accumulated,” said Petaling Jaya Utara MP Tony Pua, also the DAP National Publicity Secretary.

The NYT report highlighted the fact that Najib, “who earns an annual salary of about US$100,000 (RM350, 000) as Prime Minister, has been battered by news media reports of his wife’s lavish spending”.

It pointed out a series of photos which showed the Prime Minister’s wife, Rosmah Mansor, holding at least nine different Birkin handbags which typically cost between US$9,000 (RM32,000) and US$150,000 (RM530,000) a piece.

“My colleague, Raub MP Ariff Sabri, has alleged that the Prime Minister keeps ‘piles and piles’ of ringgit bills stacked in his safe,” said Pua.

Invoices and other documents obtained by The Times show millions of dollars in jewellery ordered for Rosmah in Hong Kong in 2008 and 2009 . . . diamond and emerald rings, and diamond, emerald and ruby bracelets, he added.

The NYT story also unearthed the previously secret transactions of Najib’s 38 year old step-son, Riza Aziz, who bought an apartment in Park Laurel, New York for US$33.5 million (RM117.5 million) and a house in Beverly Hills worth at least US$17.5 million (RM61.5 million) in hard cash.

“Both of these properties were curiously enough, purchased from a Jho Low — connected to the troubled 1Malaysia Development Bhd (1MDB) which has accumulated RM42 billion in debts – and whose own wealth is similarly somewhat unexplained,” said Pua. “Riza Aziz has confirmed these transactions,.”

“In fact the Beverly Hills house has been demolished and will be rebuilt at millions of dollars. All these funds appear to be at Riza’s disposal despite the fact that he had previously only been a junior-level banker at HSBC.”