Tuesday, February 14, 2017

BMF to 1MDB

blogtunm.blogspot.com Tun M 
1. Suddenly UMNO Youth want the BMF scandal of 40 years ago to be subjected to enquiry by a Royal Commission.

2. Most of these UMNO Youths were not born yet or were tiny tots when the BMF scandal made headlines. Obviously some slightly older people have been putting ideas into their heads. They could not know much about BMF. Essentially their resurrection of the BMF scandal is intended to divert attention from the current serious scandal regarding 1MDB and Najib’s 2.6 billion Ringgit in his account.

3. There is no comparison between BMF and my handling of the affair with Najib and his abuse of authority and losses of billions of Ringgit of 1MDB money. Certainly at no time did I have billions of Ringgits in my private account. The losses in the BMF case were due to imprudent management of loans of the BMF. The culprits had been identified and legal action taken by the relevant authorities.

4. The BMF affair started before my time and I ensured that an enquiry be carried out by an investigative body headed by Tan Sri Ahmad Nordin, the Auditor-General at that time.

5. His report was published and available to the public. It was not made into an official secret to hide what it says about me. I am sure the report can be accessed by anyone, including UMNO Youth even now.

6. Then there was a White Paper presented to and debated by Parliament. No one suggested that I should be charged for any crime involving the BMF.

7. Everything about the BMF was out in the open so that the opposition could scrutinise and make allegations against me should there be a case against me. The proceedings are in the Hansard and anyone can have access to it. They are not under the OSA, unlike the reports on the investigation into the 1MDB and Najib.

8. Under him 1MDB borrowed billions of Ringgits at high interest rates and commission. He bought power plants whose license were about to expire at well above market price. Later he sold these power plants to foreign companies at huge losses.

9. The reports on 1MDB by Bank Negara and MACC were dismissed by a newly appointed A.G., who then declared they were official secrets.

10. It is the same with the report by the Auditor-General. It is also declared to be official secret.

11. Putting evidence under the OSA results in the evidence being hidden. Even quoting from it by people who have read it would breach the OSA. Yet the law also says that hiding evidence is a crime. The courts should be asked to determine whether hiding evidence is a lesser crime than quoting from evidence that has been criminally hidden.

12. I will accept a Royal Commission to investigate anything that I did during my term of office.

13. But Najib and the UMNO Youths must also agree on a Royal Commission to investigate the setting up, borrowing and losses suffered by 1MDB. All evidence, including the aforesaid reports must be made available to the Commission.

14. If UMNO Youths cannot agree to an Independent Royal Commission on 1MDB, I will have to assume that Najib is guilty as charged.

15. Justice should not only be done but should be seen clearly to have been done.
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