Desi thanks the SARAWAK REPORT for relentlessly pressing the subject 1MDB; otherwise Malaysians would have continued to remain in the dark over the "daylight robbery" by these incompetents who just refuse to step down. Nevertheless, Malaysians I know are praying daily for some heavenly intervention -- like a gigantic object falling from the heavens, alike what happened in the old days of the Caesars -- The Ides of March. Except this time around we will be rained by many countries' currency notes, as well as Hellish wans? O Lord, let it happen sooner than later. -- Amen/"Awoeman2!" -- YL, Desi, knottyaSsusual
Further leaked documents from the Malaysian enquiries into 1MDB have
been made available to Sarawak Report, which indicate that the Prime
Minister and his wife utilised over RM1.15 million of the fund’s stolen
cash on purchasing hormone-based, anti-ageing products from the US!
They make clear that whilst the PM is referred to by the Department
of Justice investigators at “Malaysian Official 1″, he was dubbed “B1″
by domestic MACC investigators, who had zeroed in on money that passed
from the 1MDB subsidiary SRC, via two intermediary companies, into
accounts belonging to Najib.
The Malaysian Anti-Corruption Commission (MACC) enquiry into 1MDB
focussed on the local diversions of SRC cash, which had been originally
raised from a RM4 billion from the public pension fund KWAP.
AG Apandi Ali “cleared” Najib, but could not deny that the money went from SRC into the PM’s account…
The MACC established that altogether some RM70 million was siphoned from SRC’s borrowed cash into a series of AmBank accounts belonging to Najib between summer 2014 and early 2015.
However, after sacking the former Attorney General, who was on the
point of bringing charges last July, Najib installed his ally, Apandi
Ali, who dismissed the charges and ruled the case was closed.
Najib has admitted he did receive the money, but Apandi accepted his
excuse that he had not realised that the millions of dollars had come
from 1MDB/SRC rather than his “Saudi donor” (money he originally claimed
he’d never put to personal use).
The Prime Minister has not been required to pay the money back.
The key accounts detailed in Apandi’s flow charts….
Such looting from SRC may seem small beer compared to the billion
dollars that arrived in Najib’s bank accounts from abroad – money now
also confirmed by the DOJ as having originated from thefts from 1MDB.
The account numbers were revealed as early as July 2015
The PM had a clutch of AmBank accounts receiving cash through intermediaries from SRC
However, SRC was a home-based investigation and it is significant
that Najib has just completed his moves to protect himself by removing
all top three officers from their posts at the MACC. The organisation
had originally challenged Apandi’s judgement that there was nothing
Meanwhile, the public prosecutor Kevin Morais, who had earlier leaked
the charge sheet against the Prime Minister to Sarawak Report was
kidnapped and found brutally murdered in a drum of solidified cement.
The world’s most expensive beauty product?
Documents now obtained from that MACC investigation show the outcome
of enquiries by officials into some of the expenditures made from these
These include a cheque for RM1,154,000 that was made out from account
number 2112022011906 to a certain Datuk Sadiq bin Mohammed on February
RM1,154,000 – for what purpose?
Notes attached to the photocopied cheques suggest that investigators asked Datuk Sidiq the purpose of the payment:
“Pembelian 2 set ubat jenis Plantserum External
Apllication Food based GH-9 Honey Softgel dan Food GH-9 Honey Soft Gel
pada harga USD159,000 setiap satu set utk kegunaan B1 dan isteri”
“The purchase of 2 sets of medication type External Plant
Serum Food Application based softgel GH-9 Honey and Honey Food GH-9
Soft Gel at USD159,000 each set for the use of B1 and wife”
Who are B1 and Wife?
As with the DOJ indictment the rest of the document leaves little doubt as to whom the investigators meant by “B1 and Wife”.
Because, the next items of expenditure examined from these accounts
include several building works and alterations at addresses which are
known to belong to Najib Razak and his wife. These include, for
example, RM100,000 for construction work on a police guard room and
amenities at their KL residence made payable to an outfit called ABS
Trend Master Sdn Bhd on 16th February 2015:
RM100,000 for construction at “B1’s” address
This payment also has a note attached:
“Kerja-kerja pembinaan satu unit pondok polis (dengan
bilik mandi dan cabinet), satu tempat pembuangan sampah konkirt dan satu
bilik sebaguna (dengan bilik mandi dan cabinet) di rumah B1 No 11 Jalan
Langgak Duta Taman Duta KL”
“Construction work of the police post unit (with bathroom
and cabinet), concrete landfills and a multi-purpose room (with
bathroom and cabinet) in B1 house No 11 Jalan Taman Duta Duta Langgak
It is of little surprise that the expenditures from these accounts,
were for the benefit of the “first couple”, given that Najib has
admitted that this and the other accounts were in his name.
His excuse is merely that he did not know where the money had come
from, which his hand-picked AG ruled acceptable (in a decision that has
been challenged not only by the MACC but by the Bar Council for being an
unconstitutional abuse of his powers and authority).
What will leave Malaysians surely gasping is how two doses of any serum and oral product could cost such a huge amount of money?
Sarawak Report has not succeeded in tracking on the open market any
product that begins to cost as much USD159,000 each – yet at
contemporary exchange rates the price tag described appears to match the
RM1,154,000 on the cheque.
The most likely explanation is that the ‘GH-9′ description refers to
the ‘Growth Factor 9′ hormone, currently touted as being all the rage as
an anti-ageing product for the ‘super-rich’. The highly controversial
drug is banned for athletes.
One typical advertisement for GF-9 – is this the product the Datuk shelled out for?
A series of advertisements describe the product as being the
favourite anti-ageing secret of the rich and famous…. although the price
tag is nowhere near what B1 and wife appear to have been paying:
For the rich and famous….
So, perhaps B1 or his wife can enlighten Malaysians what exactly this
public money was indeed spent on, because the MACC reporting notes make
clear the investigators themselves found it hard to determine what
genuine investments SRC have actually been making with the RM4 billion
borrowed from KWAP.
MACC investigators seem to have also relied on Sarawak Report!
Ironically, it can be seen
that the MACC investigation notes themselves quote research from Sarawak
Report, as they attempt to find out what on earth the company has been
up to in the absence of publicly available information.
This was the very ‘sin’ that UMNO spokesman Rahman Dahlan accused the DOJ of just last week!
On a parting note – if this
million ringgit mystery product was indeed promoted as an anti-ageing
beauty treatment for Malaysia’s ‘First Couple’, might Malaysians not be
eligible for a substantial refund on grounds of poor performance and a
breech of trade descriptions?
Deloitte quits as 1MDB’s auditor
This article first appeared in The Edge Financial Daily, on July 27, 2016.
KUALA LUMPUR: Deloitte Malaysia has notified 1Malaysia Development
Bhd (1MDB) of its intention to resign as the embattled state fund’s
auditor, and the 1MDB board is now looking for a new auditor.
“Until a new auditor is appointed, Deloitte will remain as auditor on record,” said 1MDB in a statement yesterday.
“The board appreciates the professionalism displayed by Deloitte to
date and highlights that Deloitte will continue to audit key
subsidiaries of 1MDB, including but not limited to TRX City Sdn Bhd
(formerly known as 1MDB Real Estate Sdn Bhd), Bandar Malaysia Sdn Bhd
and Edra Bhd,” it added.
1MDB disclosed that Deloitte had notified it of its intention to
resign on Feb 26, but the fund did not say why it making the
announcement only now.
However, Deloitte in a separate statement referred to the civil
forfeiture complaint filed by the United States Department of Justice
(DoJ) on July 20.
It said the complaint contains information, which, if known at the
time of the 2013 and 2014 audits of 1MDB, would have impacted the
financial statements and affected the audit reports.
Accordingly, it said, the audit reports issued by Deloitte in
connection with the 2013 and 2014 financial statements of 1MDB should no
longer be relied upon.
Deloitte took over the auditing of 1MDB accounts from KPMG, which had
decided to issue a qualified audit report for 1MDB’s 2013 financial
statements. KPMG was replaced in December 2013, before issuing its audit
KPMG was reportedly dismissed after a difference of opinion on the
fair value of 1MDB’s investment in Bridge GLobal SPC through Brazen Sky
Deloitte verified the accounts for the 2013 and 2014 financial years,
with an unqualified opinion without any qualification or emphasis of
As for the 2015 accounts, 1MDB has been given an extension by the
Companies Commission of Malaysia until Sept 30, 2016 to approve the
audited financial statements.
Deloitte’s auditing standards, however, have been questioned since
2015, as 1MDB struggled to pay its matured debt obligations and service
Meanwhile, 1MDB in its statement yesterday called on all parties not
to rely on the 2013 and 2014 accounts “as a precautionary measure” in
the wake of the civil forfeiture complaint filed by the DoJ.
The request, said1MDB, is pending a final and conclusive
determination by a court of law of allegations contained in the
“While the board remains confident that no wrongdoing has been
committed by 1MDB, and that the past audited financial statements
continue to show a true and fair view of the company’s affairs at the
relevant points in time, the board has decided that, as a precautionary
measure, the 2013 and 2014 audited financial statements of 1MDB should
no longer be relied on by any party, pending as described in the
complaint,” said 1MDB.
On July 20, the DoJ announced that it had filed a civil forfeiture
complaint in a bid to seize more than US$1 billion (RM4.06 billion) in
assets, including luxury real estate and a jet, allegedly bought using
Individuals named in the complaint include “Malaysian Official 1”,
Prime Minister Datuk Seri Najib Razak’s stepson Riza Aziz and his
company Red Granite, which invested more than US$100 million to finance a
2013 Hollywood movie The Wolf of Wall Street.
Others named in the suit include Penang-born businessman Low Taek
Jho, popularly known as Jho Low, and Mohamed Badawy al-Husseiny, a
former director of Aabar-BVI.
Although the DoJ did not specifically name “Malaysia Official 1”, the
individual was described as a “high-ranking official” who was the
“ultimate beneficiary” of US$681 million. …more
Deloitte quits as 1MDB’s auditor July 27, 2016 – The Edge Financial Daily