NAJIB STARTS HIS 'TAI-CHI': I had no knowledge of alleged money laundering by 1MDB

PETALING JAYA - Datuk Seri Najib Tun Razak says he has no knowledge of any claims of money laundering by government investment arm 1Malaysia Development Berhad (1MDB).

"The accusation by certain parties that money laundering occurred is for the Auditor-General and PAC (Public Accounts Committee) to address in their comprehensive reports.

"However, I would like to state that I had no knowledge of any money laundering by 1MDB. Should anyone be found guilty of money laundering, they will be brought to justice," said the Prime Minister.

Najib, who is also 1MDB advisory board chairman, was responding to allegations of money laundering by the government investment arm, in the third installment of frequently asked questions (FAQs) on his official website, NajibRazak.com.

His response came following questions by Tun Dr Mahathir Mohamad last week on the issue.

The former premier had suggested that the explanation that US$1bil was being kept in Singapore to facilitate withdrawals, as Bank Negara would disrupt transactions of more than US$50mil, did not add up.

"To my knowledge, banks have been instructed to question deals of more than RM50,000. If the deal has no relation to 'money laundering', which is illegal, it is not a problem.

"The question is, was 1MDB, with the knowledge of its adviser, involved in money laundering, which is why the money from the Cayman Islands had to be kept in Singapore?" Dr Mahathir had asked.

PM Najib

Najib also said that there has been no proof that anyone has been "robbed", adding that the authorities should be given time to investigate the matter.

"Does that mean we should spread rumours and speculation and move to oust the country's leaders if instant answers are not provided, rather than getting a true account of what has transpired?

"I also want answers quickly but if we don't allow the authorities to provide us with the information in a proper and legal manner, how can the Government take action against anyone who is found guilty?

"Is the Government supposed to base its actions and prosecutions on wild allegations and tabloid exposés? Now that would be silly," he said. - ANN