Heads May Roll for Treasury Officials Complicit in Bailing Out 1MDB

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Treasury officials who cannot justify measures taken to bail out 1MDB will face action against them.

Newly-minted Finance Minister Lim Guan Eng was asked about action to be taken against Treasury officials who were complicit in bailing out 1MDB with regard to its debt obligations.

“Heads will roll for officials who are unable to provide written justifications for their actions,” he told reporters at a press conference yesterday.

On possible action against Bank Negara governor Tan Sri Muham­mad Ibrahim and Khazanah Nasio­nal Berhad’s top management for bailing out 1MDB, Lim said it was something that must be evaluated fully.

“Everyone should be held accountable unless they were instructed in writing to take certain actions,” he added.

Earlier, Lim confirmed Bank Negara and Khazanah had made payments to the ministry which were then used to service 1MDB’s debt obligations.

Among them, he said, were the redemption of redeemable shares by Khazanah amounting to RM1.19 billion and sale of land to Bank Negara amounting to RM2.06 billion.

There was the sale of a piece of land on Dec 14 last year by Bank Negara to a ministry’s subsidiary, Hartanah Mampan Sdn Bhd.