Umno leaders complicit in 1MDB cover-up
To save themselves from prosecution, they must demand Najib’s resignation.
Matthias Chang, Free Malaysia Today
Even a child knows what cash is, and when cash is deposited in a bank, the bank statement would reflect the cash deposited in the bank. Any paper or document other than cash cannot be deposited and reflected in a bank statement as cash.
Documents such as share certificates, treasury notes or bonds or other documents that are not considered as money, when deposited in a bank for whatever reason or placed in a fixed deposit box are never ever reflected in a bank statement.
The Minister of Finance, treasury officials and members of the 1MDB board of directors and its advisers are all experienced in finance and cannot by any stretch of the imagination be deemed ignorant of what constitutes cash.
The balance sum amounting to US$1.103 billion is not some chump change and, when converted to Malaysian ringgit, would be more than RM3 billion.
Therefore it is inconceivable that the Prime Minister, who is also the Finance Minister, and senior officials in the Ministry of Finance and Bank Negara do not know the difference between cash deposited in a bank and some “paper assets” to be held by the bank in Singapore, allegedly as custodian.
So when MOF replied to Tony Pua’s queries in March 2015, surely its officials must have checked with the bank in Singapore or examined the relevant documents from 1MDB before confirming that 1MDB had “redeemed its balance of investment from the Cayman Islands in cash and transferred it to BSI Singapore”.
However, MOF has now issued a contradictory statement. A news report said, “The Finance Ministry has corrected its Parliamentary written reply in March that said the US$1.1 billion transferred by 1Malaysia Development Bhd (1MDB) from Cayman Islands to Singapore was not in cash.
“According to the latest written reply to Petaling Jaya Utara MP Tony Pua, the ministry said the money that was “redeemed” was in the form of assets in US dollars.”
We cannot but agree that this is the Malaysian scandal of the century. Heinous and despicable crimes have been committed.
