28
Sep
17

BANK Negara imposed fine of RM115.8 million on 1MDB, how about individuals responsible?

How about fining those responsible for 1MDB scandal, Pakatan asks Bank Negara

BANK Negara Malaysia should also pursue individuals involved in the 1Malaysia Development Berhad (1MDB) scandal instead of just imposing an RM115.8 million fine against the state investor, said Pakatan Harapan.

PH president Dr Wan Azizah Wan Ismail was referring to the central bank’s disclosure yesterday of the “record” fine imposed on 1MDB under Article 234 (3b) of the Financial Services Act 2013.

She said the act also empowers BNM to impose a penalty against the director, senior management and any individual responsible for the management of 1MDB.

“For now, BNM only applied Article 234(3)(b) to impose a fine of RM115.8 million on 1MDB and those involved.

“If BNM fined 1MDB as a corporate body, it should also invoke Article 234(5) against individuals responsible for breaches of the law.

“I urge BNM to protect the integrity of the central bank as an institution that would prevent the same scandal from resurfacing in the future,” she said a press conference at the party’s headquarters in Petaling Jaya.

PH will lodge a police report next week to enable BNM to investigate Prime Minister Najib Razak as the advisory chairman of 1MDB, its board of directors and also the senior management under Clause 234(5).

Dr Wan Azizah said BNM’s decision to fine 1MDB RM115.8 million also penalises Malaysians as they are the ones who have to bear the state investor’s debts.

…more
How about fining those responsible for 1MDB scandal, Pakatan asks Bank Negara
27 Sep 2017 – TMI

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