Saturday, February 6, 2016

Difficulties mount for BC Liberal partner


French list Malaysian PM Najib Razak in bribery case file, The Australian, February 6, 2016
Malaysian Prime Minister Najib Razak is facing a new front in a multi-billion-dollar corruption scandal bedevilling his administration, with French investigators probing whether he received bribes as defence minister in a $1.2 billion submarine contract.

The investigation centres on Thales International Asia’s 2002 contract to deliver two submarines to the Malaysian government and whether the company’s former president, Bernard Baiocco, indirectly paid kickbacks to Mr Najib to secure the deal.

Mr Baiocco was indicted last December for allegedly paying commissions to Abdul Razak ­Baginda, a political analyst purportedly close friend of Mr Najib.

But Britain’s Financial Times cited sources close to the investigation — including Mr Baiocco’s lawyer Jean-Yves Le Borgne — confirming that judicial documents also named Mr Najib as a suspected recipient...
Swiss probe finds ‘indications’ of $4bn being misappropriated, Financial Times, January 30, 2016
Swiss authorities said they had found “serious indications” that about $4bn had been misappropriated from Malaysian state companies following a criminal investigation into 1Malaysia Development Berhad, the state development fund.

The Swiss attorney-general said in a statement on Friday that a “small portion” of the money was transferred to accounts held in Switzerland by former Malaysian public officials and former and current officials from the United Arab Emirates.

The statement is a blow to Malaysian efforts to contain the scandal. Najib Razak, prime minister, denies claims of misappropriation of funds linked to 1MDB. The fund, established in 2009, is supervised by an advisory board chaired by the prime minister.

Malaysia’s attorney-general said this week that the premier had no case to answer in relation to $680m transferred to his personal bank account.

The Swiss attorney-general said the funds believed to have been misappropriated “would have been earmarked for investment in economic and social development projects in Malaysia”...
Net may be tightening on Najib, The Strait Times, February 2, 2016
Malaysia may have absolved its prime minister in a huge corruption scandal, but the authorities in other countries investigating suspicious global fund flows are making clear the affair is far from over and that the net may be tightening, say observers.

Malaysia's attorney-general last week cleared Prime Minister Najib Razak of wrongdoing in accepting a mysterious US$681 million (S$974 million) payment from overseas, sparking accusations of a cover-up in the case.

"The Swiss and Singaporeans are obviously worried that (clearing Mr Najib) looks detrimental to their ongoing investigations," said Ms Cynthia Gabriel, head of C4, a Malaysian anti-graft non-governmental organisation.

"But this is definitely far from over and looks like the noose is tightening on Najib," she added, referring to the new details announced by the Swiss and Singaporeans.

Within days of Datuk Seri Najib's clearing, the authorities in Switzerland and Singapore raised the pressure, pointedly responding that investigations into an array of Malaysian money movements were forging ahead and releasing new information...





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5 comments:

  1. Christy Clark sat for an interview with Andrew MacLeod of TheTyee (reported on the 14 December 2015). http://thetyee.ca/News/2015/12/14/Christy-Clark-LNG-Promises/

    One of the questions she was asked concerned the $700 million US that turned up in Malaysian Prime Minister Najib Razak’s personal account as a “donation”. Her answer was, “That seems like a lot of money. Makes me feel like I went into business in the wrong country. It's crazy. But you know, it's just a different way of doing business, I guess.... But as far as I know Petronas is completely untouched by it and they are pretty independent of the government. There doesn't seem to be any hiccups in their project here as a result of it.”

    Because she expressed remorse for going into business in the wrong country rather than any alarm at an elected official possibly accepting such a huge personal donation, it would appear “a different way of doing business” relates to the direct deposit method, rather than whatever method she’s used to seeing in BC.

    I very seldom if ever agree with any of Christy Clark’s statements but share her sentiments about her going into business in the wrong country. It may not be too late to correct it though, and I hope she discussed immigration policies with the good Prime Minister while she was there and was given some hope as to her immediate acceptability.

    As for Petronas being “pretty independent of government”, I note the Board of Directors in the 2014 annual report includes a Chairman who boasts a resume including Administrative and Diplomatic Service in the Malaysian Civil Service for 38 years. Board members include the Secretary General of Treasury at the Ministry of Finance Malaysia, the Deputy Governor of Bank Negara Malaysia (the Malaysian Central Bank), and a Chairman of the National Economic Advisory Council who served as the Minister in the Prime Minister’s Department in charge of the Economic Planning Unit and the Department of Statistics. Petronas is 100% state-owned, and is responsible for almost half of the Malaysian government’s total budget.

    Sure Christy. They’re strangers in the night.

    ReplyDelete
    Replies
    1. "Petronas is 100% state-owned"

      Indeed. Isn't it strange how the opponents of public ownership by Canada of Canadian resources are only too happy for foreign publicly (well government) owned companies to buy and sell our resources.

      We may be the "forces of no", Premier Smirk, but at least we're not betraying our province and country.

      Delete
  2. Great work Norm and Lew.
    Lew, thank you for all your digging in places most of us wouldn't know where to begin.

    I trust someone will arrange to have your contribution placed on Mr. Horgan's night stand, in case he wakens.

    Yes, I am cynical.
    Hawgwash

    ReplyDelete
  3. http://nypost.com/2016/02/13/goldman-sachs-banker-involved-in-a-massive-overseas-money-scandal/

    ReplyDelete
  4. http://www.smh.com.au/world/former-pm-joins-move-to-oust-malaysian-leader-najib-razak-20160214-gmtm1h.html?skin=text-only

    ReplyDelete

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