27
May
16

Malaysia 1MDB investigations didn’t examine key evidence, interview Najib: WSJ

Malaysia 1MDB investigations didn’t examine key evidence, interview Najib: WSJ

Malaysia’s investigations into troubled state-development fund 1Malaysia Development Berhad (1MDB) didn’t examine key evidence or interview Prime Minister Najib Razak, the Wall Street Journal reported.

Najib, who was chairman of 1MDB’s board of advisors as well as Malaysia’s finance minister, had ordered the auditor general to produce a report on 1MDB that was to be reviewed by a parliamentary committee, but that report was declared “classified” under Malaysia’s Officials Secrets Act, which meant it could not be revealed to the public, the WSJ reported.

The auditor general’s report said that $7 billion of 1MDB assets were unaccounted for, but the parliamentary committee didn’t mention this in its published report, nor did the committee’s head, Hasan Arifin, tell the committee about a letter he received from a senior central bank official that $1 billion of 1MDB funds were transferred to an offshore company owned by a close associate of Najib, the WSJ reported.

Najib has repeatedly denied wrongdoing in relation to 1MDB.

When Malaysian journalists asked why Najib wasn’t called to testify, Hasan said “I have to earn a living,” although he later said the remark was a joke, the Wall Street Journal reported, adding that Hasan did not comment for its story.

Najib’s office, 1MDB and Hasan didn’t immediately return emails from CNBC seeking comment.

…more
Malaysia 1MDB investigations didn’t examine key evidence, interview Najib: WSJ
27 May 2016 – CNBC

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