24
Apr
16

Deadly Development In Abu Dhabi For Najib

Deadly Development In Abu Dhabi For Najib

One wonders how the BN controlled media will report this latest development in Abu Dhabi?

“Emirates confirm 1MDB did nothing wrong”? Or, perhaps, “Najib cleared by Abu Dhabi”!

Because, today’s clear announcement by the normally taciturn Arab state has nailed the lies from 1MDB and all its hierarchy of bosses from Najib down.

The sovereign wealth fund Aabar/IPIC, to which a staggering US$3.51 billion dollars was allegedly sent in 2012, under the guise of fulfilling ‘state to state’ obligations (relating to a smaller US$3.5 billion loan), has denied in a formal statement that it ever received any such money.

This vast sum, guaranteed by the Malaysian taxpayer, was sent to a completely different entity, IPIC has today confirmed to the London Stock Exchange. Aabar Investments PJS Limited (BVI) has no relationship to its own subsidiary Aabar Investments PJS in Abu Dhabi.

So, why do we think that 1MDB Chief Executive Arul Kanda has spent months refusing to provide the company’s foreign bank statements to the Auditor General and Parliamentary Accounts Committee? And why do we think that Najib’s hand-picked new Attorney General has been refusing permission to Malaysian investigators to make enquiries abroad about the 1MDB money trail?

Hunt for scapegoats begins

1MDB’s executives have plainly decided to start blaming rather than owning up. They immediately issued their own press release insinuating that somehow it is the Abu Dhabi wealth fund which is lying and at fault!

“1MDB finds it curious that IPIC and Aabar have waited until April 2016 to issue such a statement.

1MDB company records show documentary evidence of the ownership of Aabar BVI and of each payment made, pursuant to various legal agreements that were negotiated with Khadem Al Qubaisi in his capacity as Managing Director of IPIC & Chairman of Aabar and/or with Mohamed Badawy Al Husseiny, in his capacity as CEO of Aabar. It is, therefore, a surprising claim that neither IPIC nor Aabar have knowledge of, nor have benefited from, payments made by 1MDB to Aabar BVI. [1MDB statement April 11th]

Wow! Full marks for sheer brass neck. So 1MDB has now suddenly admitted it has ‘documents’ for the Aabar BVI company after all, even though it had refused to produce them to the PAC or Auditor General.

If these are not genuine, the statement insinuates that the named former Chairmen and CEO are to blame, because 1MDB conducted its ‘legal agreements’ with them.

So, that’s OK then – Najib has been ‘cleared’ and the cheats were Khadem and Al Husseiny, who took more money than 1MDB borrowed from these loans deals, without the 1MDB boss turning a hair.

It is, of course, an obvious target for 1MDB to blame these two former executives of Aabar/IPIC. Both have now been sacked and detained by the Emirate authorities, with an extradition request pending over Al Husseiny, an American citizen, from the United States.

So, put all the blame on them. If things get trickier then there is always ex-1MDB boss Sirul Halmi (excuse typo) still a sitting duck in KL, who can be blamed for allowing it all to happen.

It is, of course, a desperate ploy from 1MDB, who in taking this tactic will have finally severed all good will with the Abu Dhabi fund, which is due next month to recoup a US$3 billion bail out extended by Al Husseiny to 1MDB last year – in one of his last actions before he was sacked.

…more
Deadly Development In Abu Dhabi For Najib
11 April 2016 – SR

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for the triumph of evil
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to do nothing.

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when the government
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there is LIBERTY.

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