10
Apr
17

Global crackdown on 1MDB proves it’s not an American ploy

Global crackdown on 1MDB proves it’s not an American ploy

THE worldwide crackdown against banks and bankers who laundered money from state investor 1Malaysia Development Berhad (1MDB) proves it is not merely a coordinated plot to embarrass Malaysia, said opposition and civil society activists.

“After all the actions that have been taken against several banks and bankers all over the world, I am shocked that a minister can say this,” said Cynthia Gabriel, (founder) of the Centre for Combating Corruption and Cronyism.

“There are worldwide investigations into 1MDB, banks have been shut down and the Swiss Attorney-General says the noose is tightening against the perpetrators. I am shocked that he is living in a state of denial,” said Gabriel when contacted.

Gabriel was responding to senior cabinet minister Nazri Aziz’s suggestion that the probes were orchestrated by the United States.

Nazri, a former law minister, had said that a civil suit by the United States Department of Justice (DoJ) was an attempt by the US government to undermine and destabilise Malaysia.

The civil suit was to seize assets worth over USD1 billion in the US, including luxury homes and paintings, which were allegedly purchased by money stolen from 1MDB.

The actions taken against banks and bankers in six countries that are part of the 1MDB money trail prove that fraud and misappropriation had been committed, said Gabriel.

Since October last year, Singapore has shuttered the branches of two Swiss banks, Falcon and BSI, for laundering money that was allegedly stolen from 1MDB.

…more
Global crackdown on 1MDB proves it’s not an American ploy
7 Apr 2017- Malaysian Insight

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for the triumph of evil
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when the government
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