UMNO's Palace Intrigues and BNM's Unfolding Moves

So far the authorities have arrested 3 individuals in connection to 1MDB related issue. Bank Negara has put some sort of poster asking the public about the whereabouts of 2 employees. No doubt, BNM has alerted the police.

By putting up posters searching for people connected to the enterprise probably involving PM Najib, BNM is serving notice that it intends to disobey and defy Najib. Make it public so that Najib and his people will heed public awareness.

They were said to be connected to the 1MDB and SRC financial legerdemain. In simpler terms using defrauding skills to cause hidden, secretive financial sophistry intended for specific beneficiaries.  

And these are all people on the side of Jho Low and Najib. Who’s having the real power now?

We can already speculate, the people arrested and remanded were induced to give confessions naming who ordered the money to be transferred, where the money went to and into whose account were the monies deposited. Down the line we can imagine people at Ambank will also be remanded to get written confession.  Maybe that has been done.

Suppose these things took place and will take place, the authorities- headed by the 4 tan sris are defying Najib. They must have a strong backer. Or they are finally motivated by righteous objectives.

I hear from sources that Najib and Zahid ordered the police to arrest or place under protective custody one fellow working at Putrajaya Holdings. He was duly placed so, but a few hours later was placed under the custody of the MACC.

Which means that Zahd and Najib’s order was countermanded. Which goes to show Najib is losing the battle. Nobody wants to comply with his orders.

His people has responded by suspending The Edge, by barring access to Sarawak Report, by producing a b-grade video confession by a Sarawakian of dubious character and by diverting our attention to a sideshow starring Xavier Justo.

These are mere diversionary tactics.

All these cannot erase the fact that 1MDB cannot account or more than RM20 billion, is still saddled by a loan and bond obligation of RM46 billion, still can’t sell the Tabung Haji land. All these cannot erase the fact that RM2.6-2.7 billion went into Najib’s account and RM42million of public money was illegally transferred into his private account.

These sideshows deserve only scant interest. Ignoring them is a better choice.  

Please remember SRC is a 100% owned company of MOF a ministry of the government. The money it has is public money. Public money has been transmitted through 2 companies- gerbang mentari dan ihsan perdana into Najib’s private account. Notwithstanding the existence and horseback-riding of the 2 companies, public money has been caused to go into Najib’s personal account.

Come out with any convoluted argument, media sophistry and whatever else thinkable by Najib and his handlers- the fact remains public money has been transferred into your personal account. That is a wrong in itself.

Regarding the transfer of around RM2.6-27 billion from external sources through falcon bank and tanore finance into his private account, the PM has many things to answer. What is the source of the money? Hot money that has travelled the world now coming back to the originator? The accumulation of kickbacks, commissions, false invoicing, plain embezzlement, money from drugs, drink and prostitution- now making their way into the person most responsible- the finance minister cum PM?

If this is part of international money laundering, it will involve many authorities of seral countries. Perhaps the transaction has violated the AMLA or its equivalent in the US. Perhaps it has violated similar laws in Singapore.

Here’s one worrying thing. Singapore known for its obsession with integrity has vowed to come absolutely clean about all transactions involving 1MDB. Suppose now, the MAS comes out with damaging and incriminating transactions in violation of banking laws subscribed by all central banks and monetary authorities of the word, where will that place Bank Negara and squeaky clean Zeti Akahtar Aziz- bank governor soon to resign or cashiered?

Singapore has alerted BNM months ago but BNM has not acted on the information given. Now, if it’s discovered than BNM and its governor are complicit in an elaborate plan to deceive the public, our whole banking and financial system’s integrity will be utterly damaged.

BNM has no other choice but to come out clean before the Monetary Authority of Singapore does.