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Sakmongkol ak 47

Thursday 21 April 2016

The Heist of the Century that puts Malaysia on the map of villainy.

I will tell you a story which is unbelievable.  It is the story about 1MDB. It is the story about the RM2.6 billion donation of which part of it was allegedly returned. The act of returning has created a new term in Islamic Finance. It is called Najibah. This is a singular contribution of PM Najib to the Islamic world.
We have been lied to. The PM and his cheer on boys and girls lied to us. Now, there is no one left to lie. Perhaps they will start lying to each other. Sadly, the majority of us are the ones hoodwinked. As the saying goes, fool me once shame on you, fool me twice shame on me, fool me thrice, I am an idiot.

The PM and his screamers must take us all as idiots. We are sorry to tell him, Malaysians are not fools. No one believes the fiction about the donation. There was no donation and there was no Arab Sheikh. 
The majority of Malaysians believed all the money that got into Najib’s account, that went into the accounts of Jho Low, of Tarek Obaid, Patrick Mahony, Prince Turki, Khadem al Qubaisi, Badawy al Husseini, got into all the accounts of those who aided and abetted these people came from only one source- 1MDB.

No Arab donor, no mysterious Santa Claus- all from 1MDB.

The 1MDB issue is not finished. The wrongs, criminal offenses, money laundering, embezzlement are not erased by restoration of the monies. Crimes have been committed. They remain as crimes even when full compensation has taken place. The crime of theft remains such even when the item stolen is returned.

The issue of the RM2.6 billion donation is not closed. What is the source of the RM 2.6 billion that got into Najib’s account? Where is the proof that Najib returned RM2 billion? How was it returned? Why can’t the PM answer these questions himself?

If the Arabs said they donated RM2.6 billion to Najib, where is the proof? The money must have been sent through the banking system there; we now ask the Saudi Arabian government to furnish us documented proof showing the remittance of this donation.

Where is the missing USD4.2 billion which the Swiss AG is investigating into? Who took them?

To whom were billions of money paid to? IPIC/Aabar said they never received the money paid to Aabar PJS.  They don’t even own such a company known as Aabar PJS Ltd or Aabar BVI. Aabar BVI does not belonged to them. It belongs to Qadem al Qubaisi and Badawy Husseini.  These two Arabs stole our money.

Who took this money besides these two Arabs? USD3.5 billion. That’s RM15 billion at the exchange rate of RM4.3 to the USD. If RM4.2 billion went to Najib’s account, who the hell pocketed the remaining almost RM11 billion? Somebody stole RM11 billion. Catch the two Arabs and let them tell how they spent the USD3.5 billion.

For all we know, the money that went into Najib’s account came from this USD3.5 billion that came from 1MDB. Hence all the monies Najib got into his account originated from 1MDB.

1MDB is a story about fraud, embezzlement, money laundering, and flow of money into bogus companies. All these happened under the responsibility of the PM.

So, even if all the money embezzled is replaced, the crime of embezzlement remains. The story-line about 1MDB narrated by the PM’s cheerleaders are lies.

We can see from the beginning the creators of 1MDB wanted to run it as a personal fiefdom. For some time, the front-line general is one Shahrol Azral. He reports to the overlord Jho Low who reports to the supreme overlord- the man who occupies the seat of PM and FM. The PM reports to the FM and the PM advises the FM or vice versa.

Let us see how 1MDB is structured. I have said it before. The 3-tiered authorisation level is not designed to shield Najib from responsibility. To be fair, the 3 levels of authorisation may be seen as measures of meticulousness and diligence. But the meticulousness and thoroughness are applied to ensure no money goes out without his approval. I believe that is so.

And he has that bestial article 117 of the M&A of the company. That article confers on him absolute discretion. He is the final arbiter on the use of the money in 1MDB.

The 1MDB and the donation issues are not settled until we catch all the thieves. Let us accept at the outset that the donation is a big lie meant for the consumption of unthinking people.

I am still puzzled as to how RM2 billion of the RM2.6 donation was returned. Through the banking system? Then there must be supporting documents. BNM must come forward and show us the remittance was done in accordance to the banking laws of this country.
The other possibility was that the money was physically placed on board of several planes and then transported to the donor.

Was Najib detached throughout the wheelin' and dealin' and stealin’ of moneys in 1MDB?
The answer is no and cannot be. Every financial transaction requires his stamp of approval. And the proof of his approval is his signature, his signature carries his stamp of approval.
So, forget about the lawyer’s inclination at verbal semantics in trying to trivialise the significance and full import of a signature. We must not allow our intelligence to be insulted.

Right from the beginning, 1MDB had the intention of it being managed by a group of people anointed by the PM. The entire board of directors was kept outside. Article 117 in the M&A of either 1MDB or SRC in fact allows anybody acting through it, to bypass their respective BODs. And the BODs included representative/s from the most important shareholder- MOF’s MKD. The MKD was totally kept outside the loop at all material time about the shadowy businesses of 1MDB.

This seems to be all the familiar economic con game. Privatise profits, make public the responsibility. 1MDB which replaced TIA was already dreamt of as being a business vehicle to make private profit under the protection of public responsibility.
If anything were to go wrong, the people behind the businesses of 1MDB can fall back on the government especially the MOF to bail them out. And that is what they are going to do.

There was the thunderous announcement that 1MDB will remain as a shell company, all the assets and liabilities are transferred to the MOF. It means we are going to pay for the debt until our grandchildren beget their own grandchildren.


Anonymous,  21 April 2016 at 07:40  

Without his sidekicks (ministers, in the institutions of power and the private sector), Najib would not have carried out his heist of the century and managed to cover them up until now.

As we the Rakyat will be carrying the baby at the end of the day, we will demand that he and especially all his sidekicks be charged in the Court of law. Nothing less will do.

It would be great if we can implement the hudud law "with retrospective effect" to cater for their punishment.

Anonymous,  21 April 2016 at 12:31  

A liar remain as a liar..

Anonymous,  21 April 2016 at 12:36  

And what is sadder than what you dear Ariff has described is this: 1MDB is not the first time that these culprits have acted in that manner and that if they can get away scot free with what they have done with 1MDB there shall be second, third, etc. 1MDB to be committed in the coming days!

In regard to the former, it should not be that difficult to find out what that Penang whale had done earlier. If I am not mistaken he had played dirty with some companies in different parts of Malaysia prior to 1MDB - as reported clearly by the Edge newspapers not too long ago. As for that guy from Pahang, decade after decade for a total of four decades being in politics, he is able to go scot free on what appears to be every single time he is said to be involved in some dirty deal. The infamous example just before 1MDB was the Scorpene deal. So, these unscrupulous personalities have come to believe they are untouchables or unshakeables?

But as Malays have always said: sepandai-pandai tupai melompat... And the past is never the same as today and the day after! Finally, this time around with the 1MDB there is the US banking system, etc. that were roped in. Surely the Americans and their associates would not let go of them easily?

And yet inside Malaysia the game continues - but not for long. Years from now we are going to look back and realize the incredulity of these past one year plus plus the fact that we all had had to go through it for Malaysia to get better. InsyaAllah.

Anonymous,  21 April 2016 at 17:06  

YB Dato',

The Saudi Foreign Minister stated that he was "aware" that the USD681 million was a donation from the Saudi royalty.
This awareness took place after a closed door meeting with Ali Baba. Before that he had stated that the said sum was a business investment from a Saudi individual.
It's therefore very clear that Ali Baba was the one who had instilled such an "awareness" into the head of the Saudi minister who said nothing nor did he confirm that such a royal no string attached donation, was actually true and factual.

Subsequently Ali Baba and his fourty thieves went to town and with great pride and joy to declare the innocence of the great Ali.

Such is the tragic comedy unfolding in our land.

Anonymous,  21 April 2016 at 17:10  


The scam would have worked if the assets keep going up in value and the billions in new profits could cover the holes left behind by the gold diggers. Unfortunately for them, they overpaid for the power assets, having creamed off with the connivance of Tanjong and Genting. Yes, they overpaid so that the vendors can then share the extraordinary profits with certain individuals. So the power assets could not be IPOed and was sold at a loss to the Chinese.

Bandar Malaysia also suffered with zero liquidity - ask Azeez whether he has sold the land purchased from 1MDB.

Once the Gold Diggers couldn't fill in the holes, it was just a matter of time that the rakyat sees the scam. The heist could have been forgiven (by the majority of the Malays anyway) if the assets are sold and cash came in to cover for the missing funds, but now all they have are words to the effect that everything we see and hear are lies.

Anonymous,  21 April 2016 at 18:26  

"For all we know, the money that went into Najib’s account came from this USD3.5 billion that came from 1MDB. Hence all the monies Najib got into his account originated from 1MDB."

That has alrady been put forward by the WSJ.

Tanore & Blackstone are both Jho Low companies.

Anonymous,  21 April 2016 at 19:10  

The piece of new information in this long article was that the beneficial owner of Tanore Finance Corporation, a company set up by Aabar’s Falcon Bank in October 2012, was Tan Kim Loong, whom a “person familiar with the matter” had informed WSJ was an associate of Jho Low.

Perhaps that person familiar with the matter had assumed that WSJ would themselves be familiar with the fact that they were referring to the Chinese name of none other than the famed ERIC TAN?!

Did WSJ fail to spot the significance of this name?

As SR has pointed out in previous articles, Eric Tan was a key fixer for Jho Low and is currently under investigation by the Singapore authorities. In particular he organised with suspended Singapore banker Yak Yew Chee for US$20 million dollars to be wired by a Jho Low company Acme Time to PetroSaudi’s Tarek Obaid.

This means that the same fixer, who channelled millions from Jho Low to Tarek Obaid, who was linked to 1MDB through the PetroSaudi deal, was the man who incorporated Tanore Finance Corporation and gave it an account at Aabar’s very own Falcon Bank, which was linked to 1MDB via a different Abu Dhabi deal.

What a mighty coincidence – given that Najib is still swearing that this money had come from a Saudi Royal figure!

Did WSJ miss the full significance of its own scoop?

Looks like it!

Manan Razali 21 April 2016 at 20:17  

I don't know how else to express my disgust to Najib and every single Malaysian who is indifferent towards this record breaking biggest world heist. I feel like screaming every 4 letter word I know at the top of my lungs. But that's not going to help make this nightmare go away.

Anonymous,  21 April 2016 at 20:49  

"The purpose of law is not to abolish or restrain, but to preserve and enlarge freedom. For in all the states of created beings capable of law, where there is no law, there is no freedom."
- John Locke, Enlightenment philosopher

Najib's has whimsically attacked the sanctity of the laws meant to protect civility and order, to cover up his personal failures and gross misdemeanours.

Greenbug 21 April 2016 at 21:34  

Let's all be honest and face the fact that nobody, not even Tun Dr Mahathir, can do anything about the greatest heist by the great Najib Tuan Razak... he will win Sarawak state election with the help of CASH and the timber tycoons help and then he will continue till GE14...

1MDB is nothing, Dato Sakmongkol, its peanuts if you know we are going to be hit by something bigger than RM50 billion - we will all be caught by a RM120 billion MRT system that many people believe is ill-conceived and cost 5 times too much comparable to another similar MRT like Mumbai or Hong Kong... we are going to be hit by the big debt unless we charge RM >RM2.50 per km on the MRT as our fare for it to break even...

Fasten your seatbelt Dato, don't say I didn't warn you...

Anonymous,  21 April 2016 at 23:21  

Najib, Rosmah, Jho Low, Riza Aziz, the two Arabs Husseiny and Qubaisi, the orang putih involved amongst them, they are laughing their hearts out at us Malaysians - we are just too naive to see - It is all in their Wolf of Wall Street! Watch the film again. That movie is all about them. It's their life story. Can't you see it's all in there. And yes, they carry money in planes, on their bodies. Nobody will check because they're somebody they get to pass security check.

Anonymous,  21 April 2016 at 23:56  

anon 12.36 commented that "Surely the Americans and their associates would not let go of them easily? " the Americans would of course. there is only one interest in which Americans are concerned with. Their own interest. If there are sufficient reasons, they would do exactly what N would wish them to do. You know, reasons like needing donkeys from this part of the world to work for them for a few generations? for instance Americans would sell Iphone to Malaysians(markup few hundred percent - american goods expensive good quality apparently) and Americans would let Malaysians assemble them for a pittance. The majority in this country has got to realise there is only one person who can take care of them. That would be themselves. This bullshit about needing UMNO taking care of you would eat you at the end. JC

Cash Is King 22 April 2016 at 07:27  

NAJIBAH......ha...ha...a good one Datuk.
Well Najib should also give credit to all those greedy but rich supporters and those foolish and impoverish followers for helping him in creating the new islamic finance term.

Anonymous,  22 April 2016 at 07:34  

The bedouin said to Ah Jib Gor "I heard a loud noise coming from your house."

He replied, "It was just my falling shirt,but I'm only sized XL you know".

The man exclaimed, "Your shirt fell so loudly?!"

He replied, "I was inside the shirt, would I not have fallen with it?"

The bedouin chuckled,"Hahaha! I see you're still kicking, what happened?"

He replied, "Ah nothing, I just tripped up on our little pet project, hehehe."

The bedouin: "Trip up some more, and it's bye bye miss american pie!"

Taikohtai 22 April 2016 at 11:41  

Where is FatJho?? That's the RM2.6b question that will bring this sorry saga to a quick end

ChapPakLang 22 April 2016 at 22:57  

Dato', you have left out the Auditors, the many Auditors!
Do we know if they knew something we don't?

Anonymous,  24 April 2016 at 16:09  

While you are preoccupied with this Bugis lanun the smaller lanuns continue to plunder nation coffers through regular "donations" of cash or luxury cars by another Arab who has been aided in pirating state GLCs.

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