Desi LIKES DISSENTING VOICES to PAC REPORT on １ＭＤB...-- PART II

FELLOW BUMMer  ES SHANKAR aka donplaypuks ADDS TO THE RISING DISSENTING VOICES against the PAC REPORT on the 1MDB! -- YL, Desi

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09/04/2016

SERIALLY LYING PM NAJIB ENGINEERS WHITEWASH OF 1MDB PAC REPORT, CARI MAKAN CHAIRMAN HASAN ARIFIN BENDS OVER!

by it's all been accounted for, Donplaypuks® intrepid correspondent for Enron-like financial fraud affairs

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Let me state at the very beginning that it is impossible for serially lying, defrauding, money-laundering, looting and plundering Prime Minister (PM) Najib not to have been directly involved in every aspect of the running of 1MDB and its operations, acquisitions, disposals and RM46 billion borrowings, and now confirmed RM50 billion debt as at 31 January 2016.

It was Najib who ordered the winding up of the Terenggau Investment Authority (TIA) to set up 1MDB under the control of the Ministry of Finance (MoF).  The MoF is the sole (100%) shareholder of 1MDB with a last known paid up share capital of RM1 million vs audited loans of RM46 billion. PM Najib is also the Finance Minister. Ultimately therefore, in anything connected with 1MDB and the MoF, the buck stops with Najib. CLICK HERE.

More than that, no appointment to the Board of Directors of 1MDB, including its Chairman and CEO and its Board of Advisors, could have been made without Najib's approval. These are all stated the Articles of Association of the company.

To cap it all, Najib is also the Chairman of 1MDB's Board of Advisors. He is also the person who put together 1MDB and Jho Low who made several investments running into billions of ringgit on behalf of it. It is principally these billions of ringgit that are at the heart of 1MDB's missing RM25-30 billion of funds. The WSJ and Sarawak Report have also reported that Jho Low siphoned out much of this money for his own side-deals, which constitute Criminal Breach of Trust, fraud and International money-laundering. In short, nothing major could have moved in 1MDB without PM Najib signing off the orders!

It was obvious to everyone in Malaysia that when Najib "promoted" Nur Jazlan (to Deputy Home Minister) from the Chairmanship of the Public Accounts Committee (PAC) and replaced him with his stooge Hasan Arfifn last August, the eventual PAC report on 1MDB would be a chunam (whitewash) job to clear Najib of any involvement in the $46 billion fraud at 1MDB, and keep the fall-out to a minion like CEO Sharul Azral. Hasan Arifin, when asked about his job last year, said he was only 'Cari Makan' meaning scratching for a living, a clear indication that he hasn't a clue about his job or its importance.

1MDB, its repulsive President Arul Kanda and the PAC now claim that as the RM46 billion of loans have been "accounted for" in 1MDB's balance sheet, accusations of the missing billions of ringgit are unfounded, and by extension, Najib absolved of any fraud. But, this begs the question why Najib sacked two chartered accountant audit firms, and 1MDB's 2015 audited financial statements have now been delayed for a staggering 12 months.

This "accounted for" is the typical language of the world's great con men. Enron's CEO also said that before its spectacular collapse.

Your give your son Arul Kaunda Kundi $20 to buy some school stuff and he returns with two pencils. When you ask him what happened to the change, he writes down a list of items, but there is not a single receipt as proof. Of course he thought you would trust him and not ask for receipts, especially since he used most of the money to buy a packet of cigarettes! So, technically, he has "accounted for" the $20. When pressed, he gives you an IOU signed by his good friend Jho Paris Hilton. The IOU is not worth the paper it's written on, since the money has already gone up in smoke.

And that is exactly the case with 1MDB. Of the RM46 billion loans raised by 1MDB, RM4 billion from government pension fund KWAP was purportedly invested in a Mongolian coal-mining company. When questioned, 1MDB panicked and Najib transferred the entire "investment" to a MoF 100% subsidiary, SRC. Investigations show that only some $400 million was invested in the Mongolian coal-mine. So, what happened to the balance of RM3.6 billion? SRC's answer was that the RM4 billion has been fully "accounted for" in its balance sheet, but, hiding behind the Official Secrets Act (OSA), it refuses to provide details of the full investment or its current market value. Does anyone suspect fraud? Does Dracula crave for fresh blood?

This is also the case with the balance of 1MDB's RM42 billion borrowings. Of this, RM18 billion was utilised by 1MDB to invest in IPPs. Now, 1MDB President has publicly confirmed that the RM18 billion price tag was deliberately inflated "to reduce future tariff increases by Tenaga"?? A more shameful and ludicrous statement could not have come from 1MDB's office boy. Two audit firms were sacked by Najib when they asked for proof and current market valuations of the investments made. All they have are pieces of IOUs and letters from Jho Low and others. 

When questioned about US$2.1 billion said to have been transferred to a Singapore bank, 1MDB's Arul Kanda first said he had seen the cash. When WSJ exposed the fraudulent story about the cash, Arul and the con-men at 1MDB swiftly back-tracked and came up with a disgraceful lie that the investment was in 'units". Units of what? OSA!

Najib and Arul Kanda are flogging off 1MDB's key assets like the Ipps and land, to cover up the hole in the balance sheet created by the missing RM25-30 billion. They are basically saying to us that as long as the hole is plugged, questions about the $25-30 billion fraud and corruption should not be raised!! If we allow them to get away with it, we will be giving a free licence to every top person in government and private and public corporations to loot and plunder as they please!!

The PAC report clearly states their inquiry was thwarted by the failure of 1MDB to produce concrete proof that its $42 billion had been properly invested. All they have been submitting to nervous auditors are verbal assurances, dubious pieces of letters from Jho, IOUs and "units' not backed up by proper investment certificates and valuation reports. Arul Kanda blocked all PAC access to the accounting records and bank statements of  1MDB's overseas off-shore subsidiaries. Yet, Najib and his entire government of thieves are now trumpeting all over the country that Najib has been cleared of any complicity in the failings of 1MDB, and that billions of ringgit are not missing - that it has all been "accounted for"!!

The fall guy for all the billions of ringgit of looting is 1MDB CEO Sharol Azrul who immediately proclaimed "I did nothing wrong". Reading between, the lines, this means he was following Najib's and others' orders, so why should he be the one to go to jail? He seems to be echoing Colonel Nathan Jessup's words in that brilliant movie 'A Few Good Men' - "We follow (Najib's) orders or men die!". Shahrol also does not seem to understand the Nuremburg Principle - No one is obliged to follow illegal or criminal orders!

The PAC report also clearly identifies instances where Shahrol and his team over-rode company policies and disbursed funds, billions of ringgit, without proper authorisation or approval. Yet the men at 1MDB have been claiming all this time that nothing illegal or untoward had happened at 1MDB. The entire management at 1MDB (except those who resigned as a matter of principle) - Najib, the advisors, Chairman Lodin Wok, all past and present CEOs, Chief Secretary to the government Ali Hamsa and MoF Chief Secretary Serigar Abdullah, etc. - are guilty of criminal malfeasance, dereliction of duty of care (fiduciary duty) and of covering up all the illegalities. It is not beyond the pale that besides Najib, some of the executives and directors are guilty of corruption and accepting illegal inducements and bribes.

The Cari Makan PAC boss Hasan Arifin also stymied all efforts by its members like DAP MP Tony Pua from summoning Najib, Bank Negara Governor Zeti and Jho Low and being grilled by the committee. Zeti is of course concealing the truth about the RM4.2 billion that flowed through Najib's personal bank account. These illegal money-laundering bank transfers took place between 2011-2014, and yet Zeti waffled about "looking into it"!!

Najib also stupidly claimed that RM2.6 billion of that money was a "donation" from some unknown Saudi royalty. This is about as credible as as saying that pigs can fly. Much of that money was used by Najib to buy votes and rig the last General Election. RM2.06 billion of it has still not been satisfactorily accounted for by Najib. AG Apandi claimed it was TT'd overseas, but no one else has seen or heard of those funds. 

In the end, even if Najib manages to defy the will of the people and not resign, he cannot escape the fall-out that will result from criminal investigations of 1MDB going on now in the US, Switzerland, HK, Singapore, Luxembourg etc.

Najib and his government of thieves are threatening ISA and Sedition charges against anyone who raises the 1MDB issue against him, on the ground that he has been cleared by the PAC. But, as Tony Pua said, it's more a case of the PAC failing to clear his involvement and innocence. All this sabre-rattling may be to appease the restless natives and those living in the boondocks. But it's not going to fool anyone else here or around the globe. Rumour hath it that the Auditor General's report on 1MDB names Najib as a criminal. Little wonder it's been Unconstitutionally classified under the OSA.

But the ultimate lie told by Najib from which he cannot escape is about the RM42 million transferred to his bank account by SRC, and utilised by him to buy diamonds (RM3 million) for Rosmah and other expenses for cars, holidays and luxury items. There were also payments of RM2 million to Deputy Minister Ahmad Maslan and RM1 million to UMNO party chief Shahrir Abdul Samad. The full list has yet to emerge, but Najib sycophants like Minister Azalina Othman, Rahman Dahlan and Salleh Syed Keruak may well have been the beneficiaries of his 'largesse" from this fictitious "donation".

RM55 million was paid to local fabric retailer Jakel. Najib claims they sourced carpets and clothes from Jakel for charitable purposes. Another blatant lie! When there is a government Welfare Department which can source donation materials for free or giveaway prices from the general public and corporations, who in their right frame of mind would source goods from a retailer for charities? Who really owns Jakel - Rosmah?

Najib still unashamedly claims that he did not know about the RM42 million in his bank account and did not instruct SRC to transfer the money either. SRC, sticking to the script, also claims it does not know who gave instructions to transfer the RM42 million to Najib's personal bank account!! It has not escaped anyone's attention that SRC CEO Nik Faisal Ariff Kamil has disappeared on Najib's instructions to Indonesia!

It's a simple matter is it not? It would take all of 15 minutes for Governor Zeti of BNM to to get to the bottom of it all. Yet, it would appear that Zeti and BNM have not lifted a finger to clear the mystery of who tansferred what on whose instructions. It would clearly suggest that Zeti is covering up for Najib.

In any event, how could Najib claim to be unaware of the RM42 million when he issued cheques and payments orders favouring his wife, Cabinet and party members against that huge amount of money?

So, one lie leads to another and another! Three murders have also revolved around Najib. CLICK HERE. 

What we have under Najib is clearly a rogue and criminal regime that has no legal or moral authority whatsoever to stay in office. So, we have a gallery of traitors, many of whom have yet to be identified, who are our enemies from within.

I am not intimidated by Najib or his sycophants' threats of ISA, OSA, Sedition Act and the like. Bring it on Najib, I'll see you in court. And if anyone should leak to me a copy of the OSA'd Auditor General's Report on 1MDB, I will publish it here at my blog!!

It is the duty of every right thinking citizen to help unseat this evil regime, which ultimately cheats the Malays most and tarnishes their name internationally.

Donplaypuks® with staying in office Najib and your government of thieves. Resign today!