1MDB Plot thickens

August 16, 2016

1MDB Plot thickens: Has the Newly Minted Bank Negara Governor compromised himself?

by Pascal & Partners

Swiss Banker sees mega money laundering case ‘covered up’ in Malaysia.   It’s being swept under the carpet by the authorities concerned, including the Police, upon the instructions of people at the very top.

Switzerland/GENEVA – A Geneva and Moscow based Investment Banker, once living in Malaysia, sees a mega money laundering case in his former domicile being swept under the carpet.

He sees wrongdoing on the case being covered up by the authorities concerned, including by the police, in his former abode. The “cover up” risks the credibility of Bank Negara, Malaysia’s central bank, in the eyes of the international financial community.

Secret deal

Investment Banker Pascal Najadi does not rule out newly-appointed Bank Negara Governor Muhammad Ibrahim striking a “secret” deal with Prime Minister Najib Abdul Razak on the matter before he replaced his predecessor Tan Sri Zeti Akhtar Aziz recently.

Najib, he reminded, claims that he received a USD681 million “political donation” from an Arab Santa Claus. “He has further claimed that he returned USD620 milion of the USD681 million to the Arab donor.”

“He claimed that not all the money was used for the 2013 General Election, the purported use, and the bulk of it was returned to the Arab. The money was reportedly sent to Singapore.”

The late Banker and AMbank Founder Hussain Najadi

Veteran Investment Banker Hussain Najadi, assassinated in Kuala Lumpur on July 29th 2013 outside a temple, was a “confidante” of Zeti, disclosed Pascal on his late father. ” My father according to a verified source did alert Zeti on unusually large sums of money being deposited at AmBank (Arab Malaysian Bank) which he founded.”

Pascal has taken his father’s case to the UN in Geneva. He has alleged that the Police in Malaysia covered up the circumstances surrounding his father’s death and closed the file “to protect the real culprits that have ordered and paid the broad daylight execution, the assassination.

Pascal Najadi–Relentless in his Pursuit of Justice

The money laundering issue arises in Malaysia, he said, in the wake of the US Department of Justice (DoJ) taking civil action in a California Court on allegedly at least USD3.5 billion being siphoned from Malaysian Government-owned 1Malaysia Development Berhad (1MDB). “The sum went through the US financial system.” “The Swiss authorities probing 1MDB are looking at USD7 billion being siphoned out from the company which comes under the Malaysian Ministry of Finance.”

The DoJ also said that a further USD681 million from 1MDB, and other sums, entered Malaysian Prime Minister Najib’s personal accounts at AmBank Islamic Private Banking Services in Kuala Lumpur. Najib, who is also Finance Minister, heads 1MDB.

Governor Muhammad Ibrahim and Prime Minister Najib Razak: What’s the Deal? asks Pascal Najadi, the son of brutally murdered  AMBank Founder Hussain Najadi

Pascal was commenting on Bank Negara Governor Muhammad Ibrahim’s statement last week that the central bank would not “re-open” the 1MDB case despite the DoJ civil suit in the US. The Malaysian central bank, he recalled, had never probed 1MDB for money laundering. Bank Negara, he continued, only probed the company for “misleading” it on certain transfer of funds abroad. “The company was merely fined an undisclosed sum for not reporting the real destination to which the funds were transferred.”

In short, said the Swiss Investment Banker, 1MDB and/or Najib was never probed for money laundering. “Bank Negara’s previous action against the company was not directly related to what the DoJ civil action lawsuit has disclosed.”

Refusal to reopen case shocking, Najib was never probed

Bank Negara, argued Pascal, has to open — “not re-open” — investigations into money laundering in Malaysia, based on the contents of the 136-page DoJ lawsuit in the California court.

Briefly, said the Investment Banker, the Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2013 (AMLA) of Malaysia states when any person is deemed to have committed an offence.

Three areas are covered. First, if a person “acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes of or uses proceeds of an unlawful activity”.

Second, if a person “removes from or brings into Malaysia, proceeds of an unlawful activity”; and third, it’s also an offence when a person “conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity”.

In an update on his late father’s case, Pascal said that he has drawn the UN’s attention to the civil action taken by the DoJ in California on 1MDB. “The action taken by the DoJ proves that my father was right on money laundering in Malaysia.”

It must he stressed, he said, that Bank Negara also fined AmBank earlier for breaking the law on the receipt and transfer of large sums of money, presumably related to 1MDB.

Couple behind the man who hired the trigger man- who are the real masterminds

He expressed confidence that the United Nations Special Rapporteur for Human Rights will follow up on his father’s assassination. “It’s no point to go only after the trigger man and the person who hired him.” The Malaysian Attorney-General and Malaysian Police refuse to investigate the motive. Yet the motive is the central absolute necessity to investigate in any criminal investigation. It’s a need to do and there is no two ways about this.

Behind the man who hired the trigger man, hides the real culprit, alleged Pascal. “It’s believed to be a man in a high government position in Malaysia and his wife.” Pascal believes the same pair may also have been involved in other killings in Malaysia. This includes the “notorious” murder of a Mongolian model, he said. “The victim, who was reportedly pregnant, apparently ‘interpreted’ during a USD2 billion Malaysia-France deal for two submarines to based now in a navy base in Kota Kinabalu.”