Use evidence compiled by S'pore to investigate 1MDB, M'sian MP tells anti-corruption agency

KUALA LUMPUR — The Malaysian Anti-Corruption Commission (MACC) should use the readily available evidence compiled by Singapore prosecutors in cases related to the 1Malaysia Development Bhd (1MDB) scandal to kick off investigations into the state investor, a Malaysian Member of Parliament said.

Tony Pua, who is the MP for Petaling Jaya Utara, said MACC should grow a spine and start investigating 1MDB to prove that it was truly independent and not a coward.

"Its actions should never be dictated or influenced by the actions of other authorities or agencies. To prove that the MACC is indeed independent and not a coward, it should immediately kick off its investigations into the massive shenanigans in the company and ensure the culprits who have caused billions of ringgit in losses pay for their heinous crimes," said Mr Pua in a statement Wednesday (Nov 15).

He said MACC's decision to ignore "glaring and ample evidence" was to protect those implicated in the scandal, including Prime Minister Najib Razak and his family.

Singapore's investigations have resulted in the termination of BSI Bank's licence and the arrest of its bankers for assisting in the laundering of 1MDB funds.

"Even as we speak, the Singaporean investigations still continue, with police now examining the role of Wall Street bank Goldman Sachs' in setting up fraudulent bond offerings for the fund. The US Department of Justice investigations more explicitly state their investigations are aimed at recovering assets bought using funds laundered from Malaysia's 1MDB," he said.

Mr Pua also made a reference to a Free Malaysia Today (FMT) article quoting former senior Anti-Corruption Agency (ACA) officer Ramli Manan there was ample evidence for the anti-graft agency to investigate the financial fiasco of the state investor.

Mr Ramli said investigators had only to look at 1MDB-related court proceedings in Singapore and the reports of the United States' Department of Justice (DoJ) reports.

"The evidence there is glaring and it could be of great assistance to MACC officers," said Mr Ramli, who retired as director of the Sabah ACA.

The ACA is the forerunner of the MACC. Its name was changed in 2009 following to the introduction of fresh legislation and a new administrative structure.

Mr Pua said Mr Ramli had also backed up his opinion that the commission and the police had different responsibilities and jurisdiction.

Mr Ramli told FMT that MACC had the expertise and experience to carry out investigations into graft and abuse of power while the police were equipped to probe Penal Code offences.

Mr Ramli said MACC also had the power to investigate prescribed offences under the Penal Code, such as criminal breach of trust, misappropriation of property, theft, and forgery.

In July, banker Yeo Jiawei, was sentenced to 30 months' imprisonment after he admitted to money laundering linked to 1MDB in Singapore.

Prosecutors identified Yeo as a central figure linked to Malaysian businessman Low Taek Jho, whom US investigators have fingered as the mastermind in the plot to drain billions from 1MDB.

Yeo had referred to Mr Low as "boss" and spent at least one night at his house in court proceedings.

According to Bloomberg, Singapore has imposed a total of S$29.1 million in penalties on eight banks as a result of1MDB probes. Credit Suisse Group AG and United Overseas Bank Ltd. were among those fined.

BSI and Falcon Private Bank Ltd were shut down. Five people, including Yeo, have been convicted in Singapore, the only country so far to have criminally charged bankers.

Bloomberg also reported that Yeo accumulated a net worth of S$23.9 million through "secret profits" in the 15 months after he left BSI in June 2014. THE MALAYSIAN INSIGHT