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1MDB, govt insists that US$4bn not unaccounted for

In Malaysia on 05/02/2016 at 4:28 am

This can only happen in M’sia. M’sia Boleh

Switzerland has been investigating Malaysia’s scandal-hit 1MDB fund since last year. Last week, its Attorney-General Michael Lauber said US$4bn may be missing from Malaysian state firms

1MDB denies its money has been stolen and says its internal investigations have found no evidence of crimes.

Now, A Malaysian minister said this [US$4bn missing] was not possible due to extensive audits, and called the [Swiss] statements “premature”.

In a strongly-worded statement on Tuesday, Malaysia’s communications minister Salleh Said Keruak said 1MDB had undergone extensive audits, some by international firms, and that billions of dollars “simply could not have been misappropriated under such conditions”.

The fund had also issued explanations and financial breakdowns about alleged losses, he said, and other state-linked firms had made public filings that showed they did not sustain losses caused by misappropriation of funds.

He said Mr Lauber’s comments were “very unusual and against normal protocol”, and criticised him for speaking to the media, rather than to Malaysian authorities who he said had been waiting to hear from Switzerland.

“These premature statements appear to have been made without a full and comprehensive appreciation of all the facts,” said Mr Salleh.

BBC report

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  1. Heheheh most probably the Swiss did indeed communicated their findings to Msia authorities but either got deafening silence or non-committal standard govt template reply that says nothing. Hence the Swiss got no choice but to whistleblow publicly.

    I’m sure the swiss also informed the various countries beforehand, like S’pore, before they made media announcement. That’s why the various jurisdictions like S’pore could so quickly clamp down on so many hundreds of bank / investment accounts allegedly related to 1MDB.

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