Excerpts from: U.S. Securities Commission – No Saudi Donations, Najib Received RM2.6 Billion Kickbacks From 1MDB | FinanceTwitter

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Excerpts from:

FinanceTwitter

U.S. Securities Commission – No Saudi Donations, Najib Received RM2.6 Billion Kickbacks From 1MDB

Dec 19 2019

For as long as one can remember, Najib Razak has denied any involvement in the 1MDB scandal, despite caught with his hand in the cookie jar – a jaw-dropping  US$681 million in his private bank accounts. Instead, he claimed that the huge sum of money was donations from Saudi royal family, a claim that could not be officially and fully substantiated.

Najib, former prime minister of Malaysia and chairman of 1MDB (1Malaysia Development Berhad), had been consistent with his claim – until he was grilled by Al-Jazeera journalist Mary Ann Jolley last year. Finally, he wasn’t so sure anymore. He said he actually “assumed” the funds came from the Saudi government, claiming the dead King Abdullah had promised to give him money.

ut in September 2018, Najib released documents which he claimed are proof that the Saudi Arabian royalty had indeed donated to him. He proudly uploaded to his Facebook page the document of a donation totalling US$100 million. Najib also unleashed a letter supposedly written by Saudi Prince Abdul Aziz Al-Saud dated February 1, 2011.

 

Subsequently, another letter dated March 1, 2013, was issued to Najib – gifting him with another US$800 million. Both letters, hilariously, carried different signatures, despite claiming to be from the same Saudi prince. The biggest joke was some of the contents of the letters were similar to a letter written by Eric Tan Kim Loong to Jho Low (both individuals believed to be the same person).

Like a storyline in a video game, the letter said – “In view of the friendship that we have developed over the years and your new ideas as a modern Islamic leader, I hereby grant you a sum of United States Dollars One Hundred Million (USD100,000,000) Only (“Gift”) which shall be remitted to you at such times and in such manner as I deem fit.”

However, Najib failed to produce all the documents to substantiate the entire US$681 million, which he claimed were donations from the Saudi royal family. What he had produced was just a fraction of the documents to justify the RM2.6 billion found in his bank accounts. Even if the documents were genuine, it cannot prove that the “money” came “directly” from the Saudi government.

 

Besides, the contents of the letter appeared to be an afterthought ploy and probably were composed by Jho Low (full name: Low Taek Jho), the partner-in-crime of Najib Razak. The letter was begging the readers to believe that the money was donations. Exactly why was the letter addressed to Najib’s residence in Jalan Langgak Duta, and not the Prime Minister Office, is beyond comprehension.

Amusingly, Najib’s hotshot lawyer – Shafee Abdullah – didn’t think it’s important to produce Saudi Prince Abdul Aziz Al-Saud as material witness in the ongoing 1MDB corruption trials against his client. Did not the letter from Saudi praise Najib’s contribution to the Islamic world, hence the donations without any strings attached? Why did the Arab royal house refuse to save a good Muslim like Najib now?

 

http://www.financetwitter.com/2019/12/united-states-securities-commission-no-saudi-donations-najib-received-rm2-6-billion-kickbacks-from-1mdb.html

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