The Swiss pokes another hole in 1MDB cheese

Najib Razak cupping his hands during a prayer. - Pic from the Internet
Najib Razak cupping his hands during a prayer. – Pic from the Internet

The Swiss might have the answer to the question many have been asking. And Putrajaya remains silent as usual.

What did the Strategic Resources Corporation (SRC) do with the RM4 billion it loaned from Kumpulan Wang Amanah Pencen (KWAP) in 2011? Of course, the other person who knows this must be the Malaysian Official 1, i.e. Prime Minister Najib Razak who is also Finance Minister.

Apart from saying US$60 million was invested in a Mongolian mine, no one knows what the loan was spent on, officially. There were a couple of corporate social responsibility (CSR) firms set up but no one knew why, and what they were doing until it was found out some RM69 million was sent through them to the prime minister’s private account in 2012.

Yet, there has been total silence from Putrajaya. Nothing on SRC, nothing about its accounts or why it was set up as a unit of 1MDB and then moved to the Ministry of Finance (MoF). Nothing at all.

The Switzerland Office of the Attorney-General is asking for assistance in this, for the second time since this January.

21ff65e6-3c1c-491d-95c2-4f3bd4a464af d252a51f-d66d-480a-94ab-f204043dacf0

The upshot is simple. While news about the US Department of Justice (DoJ) filing to seize assets is on the wane, the Swiss have restarted on another front, and calling it a Ponzi scheme, further imperilling Najib Razak in the 1MDB imbroglio.

It can only make his hold on power a little more tenuous  than it already is. Najib has twice skipped New York in the past two months, unusual for a man who loves to travel and has jet-setted around the world since becoming prime minister in 2009.

His only recent trips has been to Indonesia, Laos, Thailand and Germany. He is due to fly to China next month. None of it glamorous the same time last year. Of course, only few know he was in Milan before turning up in Berlin last month.

His travel plans are not of interest any more except to show he has fewer friends and options to go to. The Swiss want answers. The US want answers. The Singaporeans want answers.

And most Malaysians want answers.

What else would it take to poke more holes in this financial scandal that has cost Malaysia its reputation, money and prime assets?

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: