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The Mysterious Case of Zeti & Husband Were Partners In A Company That Received RM 700 Million From 1MDB – Muhyiddin Is Complicit In Concealing Evidence From Najib And The Public

This Midin fella is another one.

Today talk about integrity lah… anti-kleptokrat lah… rule of law lah… transparency lah… at the Gerakan Annual conference.

He was KDN minister during the PH regime in charge of Police and MACC which is now revealed by Wan Junaidi and Tommy to have known since at least 2019 that Zeti’s family received tons of money from Jho Low.

And then he was PM8 when the police and MACC were STILL investigating and yet he said nothing and did nothing and let Zeti complete her contract as PNB Chairperson earlier this year.

If he knew and did nothing then he is complicit in concealing evidence from Najib and the public.

If he didn’t know then he is completely failed and useless since MACC and PDRM under his care already knew since at least 2019.

Bullshit!

Even PAS issued a statement last week calling for PDRM and MACC to come clean about Zeti.
PPBM and him? Nothing. Kosong! Complete silence.

Double bullshit!

The mysterious case of Zeti and her husband

TAN Sri Dr Zeti Akhtar Aziz has always come across as poised and intelligent, with not a hair out of place even as she shattered the proverbial glass ceiling as the first woman to helm Bank Negara.

But the flawless image is in danger of shattering because of the firestorm of controversy building up around Zeti, her husband and their sons.

The noise over her family’s alleged involvement in the 1MDB scandal has grown louder after the Malaysian Anti-Corruption Commission (MACC) confirmed that RM65mil of 1MDB-linked money had been recovered from a Singapore company owned by the “husband of a former Bank Negara governor”

No names were mentioned but everyone knew who he was.

Besides, Bukit Aman’s commercial crime chief Comm Datuk Zainuddin Yaacob had, in March, confirmed that Zeti’s husband Datuk Dr Tawfik Ayman, was being investigated for money laundering.

The announcements set off a chain effect of sorts, with people urging a full investigation on Zeti.

There has also been criticism why the probe was taking so long after the Minister in the Prime Minister’s Department in charge of law, Datuk Seri Dr Wan Junaidi Tuanku Jaafar, informed Parliament that the police knew about it in 2019 and were still investigating.

Then there was Tan Sri Tommy Thomas’ jaw-dropping comment that the Zeti issue was “public knowledge”.

Thomas, who was attorney general from 2018 to 2020, said he did not act on it because the investigation was still in progress at the time.

The allegations implicate Malaysia’s main regulatory institution, and if true, could be the next big 1MDB-related scandal after the one that brought down Datuk Seri Najib Razak.

Singaporean authorities had alerted Bank Negara as early as 2015 – and again in 2016 – about suspicious transactions from accounts linked to fugitive businessman Jho Low into a company owned by Zeti’s husband and one of their sons.

About a year after that, Zeti retired from Bank Negara.

Corruption and politicians have become somewhat like love and marriage, but it is something else altogether when the case implicates the head of a central bank.

It also compromises the credibility of the regulatory body.

There have also been calls for a Royal Commission of Inquiry so that action can be taken to put the financial institution back on a proper footing.

Subang MP Wong Chen hit the nail on the head when he said that if Zeti had done her job without fear or favour, the 1MDB scandal could have been better contained.

Wong said the revelation that Zeti’s husband had received RM65mil of 1MDB money raises the question whether the failure to act on these reports was “caused by political pressure or by conflict of interest”.

“Stern action must be taken so that in future, senior civil servants will be deterred from colluding and closing an eye to scandals perpetrated by people in power,” said the PKR politician.

Wong’s voice stood out because of the deafening silence on the part of the usual advocates of truth and justice.

There has not been a whisper from the likes of DAP’s Lim Kit Siang, Opposition Leader Datuk Seri Anwar Ibrahim or former Bersih chief Datuk S. Ambiga.

Most of all, where is Tun Dr Mahathir Mohamad? He is the man who explained the 1MDB issue to the layman in one word – kleptocrats. And it worked beautifully.

Former minister Datuk Seri Ahmad Shabery Cheek has called it the “silence of the anti-kleptocrats”.

Dr Mahathir briefly touched on it in an interview with a news portal but what he said could possibly be summed up in a few words: “I didn’t know.”

What else could he say? The former prime minister is terribly compromised. He had, after all, appointed her to the Council of Eminent Persons and made her chairman of the prestigious Perbadanan Nasional Bhd.

Pakatan Harapan leaders should speak up and defend Zeti if they believe she is in the clear.

They should also take a stand if they think that corrective measures are needed. It would help them regain the moral high ground.

Selective silence will only drive more right-thinking Malaysians to lose faith in political change.

It gives the impression that politicians are all the same, righteous about corruption and misconduct only when it involves their opponent. But if the wrongdoer is on their side, then politicians are like the three monkeys who see, hear and speak no evil.

At the start of this year, Zeti issued a statement defending her family against all the allegations.

She censured the “untrue media reports” that linked her and her family to 1MDB funds and said she had given investigating authorities her full cooperation and necessary information.

Her denial has, however, failed to stanch the calls for answers and the story is still unfolding.

For instance, the recent revelations by MACC and the police have led Najib to apply for the Court of Appeal to hear new evidence relating to Zeti’s role in the 1MDB debacle.

“I think her legal troubles are limited but the allegations, whether true or not, put her reputation in a terrible light. It can’t be easy for her and it’s sad that it has come to this after what was otherwise an illustrious career,” said a Kuala Lumpur-based lawyer.

Zeti has an impeccable pedigree and she was a trailblazer of her generation. The authorities should step up their probe and decide whether there is a case to pursue.

The delay is not fair to everyone, be it Zeti or her family, the institution she once represented or even to Najib’s quest for a fair trial.

This is the likely Mahathir & Zeri conversation :-

“Zeti, I heard rumors Najib had a lot of money in his accounts with AmBank. Can you confirm that?” Asked Madey.

“Tun, indeed he had but my husband also ….” said the terrified Zeti almost in tears

“That is enough, Zeti, I am not asking you about your husband. Just provide me with information about Najib’s accounts.” Madey interjected

“But Tun, I was the one who advised Najib to open ..” pleaded Zeti guiltily

“Zeti, I did not ask for information before the money came into Najib’s accounts. I am not interested in that. Do you know what I mean ? Just stick to what I ask for. Do you understand?”

“Yes Tun. Of course. I will do the needful right away” Zeti replied in disbelief of the change of her fortunes … and images of happy ever after for her family flickering in her mind …

Singapore Police Force Has Confirmed That Malaysia Zeti Husband Received Money From Jho Low – Flipping of The RM5 Billion 1MDB Bonds

HOW much did Tan Sri Dr Zeti Akhtar Aziz know about the bank account in Singapore that belonged to her husband Datuk Dr Tawfiq Ayman?

Probably quite a bit.

According to documents and correspondences sighted by The Edge, the Commercial Affairs Department (CAD) of the Singapore Police Force had in 2015 and 2016 shared information with Bank Negara Malaysia about suspicious transactions involving Iron Rhapsody Ltd, which had a bank account at UBS in Singapore.

Tawfiq and a son are beneficial owners of Iron Rhapsody, according to CAD.

In reply to a query, Bank Negara said it was unable to respond, as it was “bound by the international protocol for sharing of financial intelligence”.

According to documents and correspondences sighted by The Edge, the Commercial Affairs Department (CAD) of the Singapore Police Force had in 2015 and 2016 shared information with Bank Negara Malaysia about suspicious transactions involving Iron Rhapsody Ltd, which had a bank account at UBS in Singapore.

Tawfiq and a son are beneficial owners of Iron Rhapsody, according to CAD.

In reply to a query, Bank Negara said it was unable to respond, as it was “bound by the international protocol for sharing of financial intelligence”.

The Edge also emailed a question to Zeti but, as at press time, had not received a reply.

Zeti was still Bank Negara governor in 2015 and retired only in April 2016.

The bank account by itself was not the issue.

It was several inflows of money into that account that triggered the suspicious transaction report (STR) alerts. These transactions took place in 2008 and 2009 and the STR alerts were flagged to Bank Negara only in 2015 and 2016 by CAD, after investigators there, together with those in Malaysia, Switzerland and the US, launched probes into the theft and laundering of billions of dollars that belonged to 1MDB.

The probes were triggered by exposés published from March 2015 by The Edge, Sarawak Report and The Wall Street Journal.

Documents shared by Singapore’s CAD with Malaysian investigators showed that Iron Rhapsody received a total of US$16.22 million from companies/bank accounts of Low Taek Jho, or Jho Low:

1) June 18, 2008: US$7.42 million from Butamba Investments Ltd’s bank account at RBS Coutts Singapore. Jho Low is the beneficial owner of Butamba Investments, which was involved in a May 2008 RM3 billion land deal with Khazanah Nasional Iskandar Malaysia (see The Edge Malaysia, Issue 1057, March 9 to 15, 2015: “How Jho Low made RM400 million by quick flip of Iskandar land deal”);

2) May 21, 2009: US$0.732 million was received from Jho Low’s US law firm Shearman & Sterling’s account in Citibank in the US. The US Department of Justice has named Shearman as a firm that Jho Low used to launder money stolen from 1MDB;

3) June 1, 2009: US$0.567 million from Acme Time Ltd’s account at RBS Coutts Singapore. Jho Low is the beneficial owner of AcmeTime;

4) Dec 17, 2009: US$6.25 million was received from Jho Low’s US law firm Shearman & Sterling’s account in Citibank in the US; and

5) Dec 18, 2009: US$1.25 million was received from Asset Central Holdings Ltd’s account at RBS Coutts, Singapore. Jho Low is the beneficial owner of Asset Central.

Singapore CAD has confirmed that the source of the money in transactions 2, 3, 4, 5 originated from profits made by Jho Low and cohorts from the flipping of the RM5 billion 1MDB/TIA (Terengganu Investment Authority) bonds arranged by AmBank in May 2009.

Jho Low and others, via Aktis Capital Pte Ltd, Acme Time and Country Group Private Securities Ltd, made more than RM600 million in profits from the flipping of the 1MDB bonds.

Aside from the above dealings between Tawfiq Ayman and Jho Low, the two were also believed to be partners in a company that Jho Low set up in July 2007, called Abu Dhabi Kuwait Malaysia Investment Corp (ADKMIC) (see The Edge Malaysia, Issue 1071, June 15 to 21, 2015: “Jho Low plays puppet master to 1MDB to get billions for his deals”.)

Documents sighted by The Edge showed that the BSI banker Yak Yew Chee — who was jailed in Singapore for abetting Jho Low in 1MDB-related criminal transactions — had told CAD that “when ADKMIC was incorporated (July 17, 2007), there were six to seven shareholders, including Jho Low and Datuk (Tawfiq) Ayman — husband of Dr Zeti, governor of Bank Negara”.

CAD investigations also found that, between June 2011 to September 2013, a total of US$153 million was transferred to ADKMIC’s bank account in RBS Coutts Singapore from Good Star Ltd’s bank account in RBS Coutts, Switzerland.

Good Star is owned by Jho Low and had, in September 2009, illegally received US$700 million from 1MDB. The US$700 million came from the RM5 billion bonds that 1MDB issued in May 2009 with the help of AmBank.

The government-guaranteed bonds paid a hefty coupon of 5.75% and were sold at a discount by AmBank to Jho Low and collaborators via companies in Singapore and Bangkok and then immediately flipped to institutional investors in Malaysia for a profit estimated at more than RM600 million (see The Edge Malaysia, Issue 1271, June 17 to 23, 2019: “Two Malaysians, besides Jho Low, benefited from 1MDB bond flip”).

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