Monday, June 19, 2017

1MDB: The Elephant in the Room

The US Department of Justice on Thursday filed a set of civil forfeiture suits involving 1MDB – aiming to seize an additional $540 million in allegedly ill-gotten assets – and bringing the total sum sought to $1.7 billion.

The court papers revealed that some of the stolen money was used to buy a $27.3 million Lorraine Schwartz’s pink diamond necklace allegedly for PM Najib Razak’s wife and a 300-foot luxury yacht called The Equanimity that comes with a helicopter pad and movie theater for billionaire Jho Low as well as properties and rare memorabilia for Najib’s step-son Riza Aziz.

The pilfered wealth was also used to buy very expensive jewelry for Australian supermodel Miranda Kerr.

And priceless art that included the Picasso painting ‘Nature Morte au Crane de Taureau’, which was later given to actor Leonardo DiCaprio as a birthday gift.

And additional funds were used to underwrite Hollywood films – including ‘The Wolf of Wall Street’ and the Jim Carrey movie ‘Dumb and Dumber To’.

Red Granite Pictures, which financed both of those films and was founded by Najib’s stepson, are currently in settlement talks.

The doubters and the naysayers should read the whole DoJ document and discover for themselves that rapacious greed is alive and well. Pay particular attention to pp 99-100, p 115, p 224 and p 228.

As Marina Mahathir says it’s amazing how many times huge transfers of money are explained as ‘gifts’ with exactly the same words each time.

Still, denials stubbornly persist.

1MDB said on Friday that they are not a party to the civil lawsuit and have never been contacted in relation to the case.

Malaysia’s Attorney-General’s Chambers reaffirmed that there was no evidence of misappropriation of 1MDB funds, nor have there been any criminal charges against anyone over the matter.

UMNO minister Salleh Said Keruak even suggested the opposition had colluded with DoJ in the said filing and described it as an act of treason.

1MDB are back in the limelight.

Wouldn't it be better if Najib step forward and confess?

You simply cannot hide the elephant in the room!

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