From Malaysiakini:
Police report retracted, forex RCI classified as 'NFA'
The police report based on findings of the Royal Commission of Inquiry on Bank Negara’s foreign currency dealings in the 1990s has been classified as "no further action", said de facto Law Minister Liew Vui Keong.
He said this is due to a lack of documentary evidence of the alleged misconduct, and the original complainant - the RCI’s secretary Yusof Ismail - had also retracted the police report that was lodged on Nov 30, 2017.
“After examination (of the complaint), it was found that there is a lack of documentary evidence to prove the allegation because the incident occurred over 25 years ago and the original documents could not be obtained.
“At the same time, the complainant had retracted the police report. Thus, the case has been classified as NFA,” Liew (below) said in a written parliamentary reply yesterday.
He was responding to a question from Ahmad Maslan (Umno-Pontian), who asked the government what follow-up action had been taken regarding the RCI and the police report.
Ahmad also asked when the government would set up RCIs to investigate 1MDB, Tabung Haji, Felda, and Mara, but Liew did not respond to these queries.
The RCI had found that Bank Negara lost RM31.5 billion in foreign exchange trading between 1992 and 1994, and opined that this “excessive” and “speculative” trading amounted to a criminal breach of trust under Sections 406 and 409 of the Penal Code.
It recommended that then Prime Minister Dr Mahathir Mohamad and his deputy Anwar Ibrahim to be investigated to determine whether they had concealed facts from the cabinet.
This is why the fault lies completely with Badawi and Jibby. From the time Toonsie stepped down in 2003 to 2018 UMNO had FIFTEEN YEARS to investigate, prosecute and convict Toonsie over a multitude of sins.
ReplyDeleteBut they didn’t. Why?
In GE14 the rakyat forgave Toonsie and elected him to be PM. Allah the Merciful allowed all this to happen. He gave Toonsie a second chance. (Toonsie may be wasting it but that’s another story).
“The People vs Toonsie” has become “The People vs Jibby”.
Stiff shit. Deal with it.
Jibby will become UMNO’s “Christ the Redeemer”. He will pay for all UMMO’s sins, including Toonsie’s.
Toonsie is smarter than Jibby. After being re-elected he appointed AG TT to go after Jibby. He wasn’t going to make the same mistake.
By the time someone else makes the same police report, mamak sudah mati.
ReplyDeleteThat will be the new excuse so the useful idiots get a day off from thinking of excuses.
Tua pun ada kelebihannya.
In the mean time, Kor Ming sakit hati.
There is no time limitation for prosecuting violent crimes such as murder, but it is a different matter for an alleged commercial crime.
ReplyDeleteMalaysian law requires organisations to maintain records of commercial transactions for 7 years, unless it is already subject to a court order to preserve the evidence.
No less, and - just as importantly - no more.
Most organisations make it a point to destroy documents that age beyond the legal stipulation.
Both for decluttering purposes as well as to protect the organisation from any legal exposures.
In practical terms , it is an impossibility to carry out an investigation into an alleged commercial crime 25 years ago.
It would be unjust to both the investigator and the one being investigated, because there is no way to ensure properly established facts.
Just verbal testimony is not enough to convict any accused on crimes alleged to have been committed via financial transactions.
So, NFA is the unevitable conclusion, regardless how you , of course, want to read a sinister motive into the matter.
In fact, if Najib had stayed on one or two more terms, another 5 or 10 years, it would also have become impossible to prosecute anyone over the 1MDB fraud regardless how loudly Pakatan leaders scream and shout.
UMNO is still in power. Only idiots believe the fucking wayang.
ReplyDeleteDon't believe me?
1) Mamak was PM when he was UMNO member
2) Mamak was PM when he was UMNO Baru member
3) Mamak is still fucking PM when he is UMNO Lagi Baru (Pribumi) member
All is UMNO and Cina are idiots.
Mamak's konek is pointed at DAP's arse that's why they so kwai kwai like a prison bitch.
Wakakakaka…
ReplyDelete"The RCI had found that Bank Negara lost RM31.5 billion in foreign exchange trading between 1992 and 1994, and opined that this “excessive” and “speculative” trading amounted to a criminal breach of trust under Sections 406 and 409 of the Penal Code."
RCI appointed by WHOM, again?
Proof to U that bolihland RCI only worths the inflated political tool of the administration that appoint its formation!
Leaked:
ReplyDeleteSecret Memo
From: Distinguished Member of the Malay Elite
To: Operatives of the Malay Deep State:
Codeword: "Checkmate"
Our useful idiot peng you's will clean up after us.
Syabas semua.
Methink, the whole BNM Forex episode or scandal, as some would prefer for political reasons to call it, would end up difficult to prosecute, even if anyone wants to, solely because there are no evidence to show someone actually benefited from it and monies ended up in their personal local or overseas accounts unlike what happened in the 1MDB sovereign fund scandal.
ReplyDeleteThus, the blame cannot be assigned solely to whoever is the PM or Finance Minister or those in BNM who caused partly or wholly the losses unless it is for political bashing. However, the BNM Governor did took responsibility by resigning because it was under his overall responsibility in managing forex trading activities by BNM for the country. In other words, a disastrous failure by the part of BNM in managing the country's finances where forex trading management is concerned.
Those who do not understand how Forex is being managed and traded by BNM in the world market will never understand the actual issues involved leading to the colossal losses. However, if anyone can prove that someone (by his actions and authority allowed) benefited by way of taking a forex position contra to what BNM forex position was, then clearly, it is a scandal and a financial crime committed in breech of his/her fiduciary responsibility duties.
The one person who clearly took that forex position found was unfortunately a foreigner (also for political reasons of hatred called racially and religiously a Jew and not a Malaysian, who is a world renowned forex trader by the name of George Soros. He is not a Malaysian and you can't blame him either unless anyone can prove that there is a complicit arrangement made with him with any Malaysian with the direct or indirect responsibility of handling Malaysian forex trading activities.
Yes, George Soros made a killing in this forex position he took against BNM, but it must also be said and made known that BNM Malaysia was not his only victim. Even the Bank of England was his victim with even heavier losses than BNM Malaysia.
Unless someone can come up with evidences and proof that some or any Malaysian official responsible one way or another to BNM forex decisions and forex positions did conspired with George Soros to betray their own country to benefit themselves, it will be a futile exercise to look for any breakage of criminal or civil laws.
The best one can get is dereliction of duties in which the BNM Governor took responsibilty for and resigned.
In the first episode of the first season of SF anthology series "Metal Hurlant Chronicles", a King is dying and his successor is chosen by a duel between rivals to the throne.
ReplyDeleteThe twist at the end of the plot?
The winner is beheaded and the dying King's head is transplanted to the body of the beheaded victor.