Arul Kanda clarifies he ‘never admitted there was fraud’

He conceded, given the content of the 12 April 2016 statement by the Office of the Attorney-General of Switzerland, that 1MDB must now be open to the possibility of fraud.

(FMT) – Arul Kanda, 1MDB President and Group Executive Director, has clarified in a statement that he had never “admitted there was fraud”. “It has been mistakenly alleged by various personalities and subsequently wrongly reported by certain media.”

What he did say was that, given the content of the 12 April 2016 statement by the Office of the Attorney-General of Switzerland, 1MDB must now be open to the possibility of fraud, that it cannot be discounted, added Arul Kanda. “It is regrettable that various personalities have chosen to ‘spin’ my words to further their own agendas.”

The 1MDB Chief was commenting on various commentaries on his recent statements regarding the possibility of fraud in relation to the company. “What’s more important, in my view, is 1MDB’s firm contention on the USD3.5 billion deposits paid to Aabar BVI.”

1MDB maintains that it dealt with senior executives, hence these transactions bind IPIC and Aabar PJS as corporates, bluntly put, and is an internal matter for them to resolve, argued Arul Kanda. “1MDB will not shy away, and looks forward to resolving this dispute with IPIC through discussion and if necessary, arbitration, in order to ensure an expeditious resolution, in the interests of all stakeholders.”

In the meantime, said the 1MDB Chief, the company will continue to extend full cooperation to the Royal Malaysian Police (PDRM) in its ongoing investigations into the company. “1MDB has always maintained, and continues to maintain, that if any evidence of wrongdoing is found, then action must be taken, according to the law.”

MALAYSIAKINI CONTINUES TO CONFUSE