Call To Start Recovering Stolen Assets

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Kadir Jasin says the Government should begin the process of recovering the stolen assets of 1MDB at once.

  • Action to be taken against those found in cahoots in the theft of 1MDB funds
  •  Likely Najib would be charged for estimated RM40m-RM70m from SRC deposited into his private account

CEP head of media and communication Datuk A Kadir Jasin said besides seeking assistance from the other countries involved, action must be taken against those found to have been in cahoots in the theft of 1MDB funds.

“We hope the police and Ma­­lay­sian Anti-Corruption Commission (MACC) will take swift action so that the saga involving SRC International Sdn Bhd (SRC) and 1MDB can be closed.

“Those found guilty must be punished and the stolen assets must be recovered,” he wrote on his blog yesterday.

On Friday, police seized 284 boxes filled with designer handbags, watches, jewellery and cash in various currencies from three luxury condominiums in Kuala Lumpur.

The police have yet to provide an estimate of the total value of the items seized, and how much cash was involved.

Federal Commercial Crime Inves­tigation Department (CCID) director Comm Datuk Seri Amar Singh, who led the operation at the Pavilion Resi­dences here, had said that it was part of the investigations into 1MDB.

Kadir said the seizure of various items by the police from former prime minister Datuk Seri Najib Tun Razak’s private residence in Jalan Duta showed that “he (Najib) was not afraid of the law”.

He said it was impossible for anyone to believe that the cash, gold bars, jewellery and branded handbags were part of the inheritance of Najib and his wife Datin Seri Rosmah Mansor.

“If he is scared of the law and its punishment, he will surely not store all these valuables openly and at places that can be easily found. But that is what happened,” he said.

According to Kadir, the findings also showed that Najib was too trusting of his supporters which led him to believe that the Barisan Nasional would win the 14th Gene­ral Election, “without making any preparation to save himself”.

“His supporters misled and assured him that he did not have to do anything because Barisan will win big.“We must thank them for the false information given to Najib which ensured that he did not remove any of his assets within the country,” he said, adding that Najib would be questioned by the MACC at its headquarters tomorrow.

Kadir said SRC was put under the Finance Ministry (MOF) and borrowed a total of RM4.4bil in pension funds from the Retirement Fund Inc (KWAP), supposedly for the purpose of coal mining in Mongolia.

(KWAP is Malaysia’s second-largest pension fund with a total fund size of RM125bil, making it one of the country’s key investment arms.)

He said it was likely that Najib would be charged in court for accepting or using the SRC money for his own use.

“The amount of money estimated to have been deposited into his private bank account is about RM40mil to RM70mil,” Kadir said.

The loan to SRC caught much attention due to its past links to 1MDB, the troubled national strategic investment fund.

SRC, set up in 2011, was “de-merged” from 1MDB three years ago after it registered no gains and placed directly under MOF.

In another blog posting, Kadir said he expected Najib to be arrested tomorrow after giving his statement to the MACC.

“I think he will be detained after giving his statement.

“He will then be brought to court to be remanded while wearing the MACC orange T-shirt,’’ Kadir said. – The Star