From The Star Online

PETALING JAYA: Former IGP Tan Sri Rahim Noor has urged the police’s commercial crime division to start investigations on the 1MDB dealings of September 2009 as these seem questionable.

He said 1MDB had signed a joint venture with PetroSaudi Holdings (Cayman) Ltd (PSI Cayman) only on Sept 28, 2009, and yet upon the signing, PSI Cayman, which did not inject any cash into the joint venture (1MDB Petro Saudi Ltd), was already asking it to repay US$700mil (RM2.56bil) for a loan taken on Sept 25. “How can that be? The agreement wasn’t even signed on Sept 25,” he said in an interview.

He also questioned why a day after the joint agreement was signed, 1MDB had paid out US$1bil (RM3.6bil) in two cheques, of which one cheque amounting to US$700mil (RM2.6bil) went into a Zurich bank account, to a Good Star Limited.

He said it was odd that six months later on March 31, 2010, the joint venture came to an end.

“So where did that money go? Did someone who is not supposed to receive it take it? Was it misappropriated or diverted?” he asked.

He added that the audited account of 1MDB Petro Saudi Ltd (JV Co) was only ready on Jan 31, 2011, and even then there was a change in the auditors.

“It seems like offences might have been committed. As an ex-policeman, I feel strongly that police should come in and investigate whether a commercial crime has been committed and if there was any hanky-panky going on.

“I would like the police to check the audited account of that joint venture,” he said.

Rahim said he felt compelled to speak out on the issue because the amount involved was massive and Malaysians were worried.

“I urge the police to come in and probe the issue. The police need to do this to instil confidence,” he said.

Rahim said he was speaking out against 1MDB not because he was anti-Prime Minister Datuk Seri Najib Tun Razak or that he was being influenced by Tun Dr Mahathir Mohamad’s attacks on the 1MDB.

“I am speaking out from my own observations,” he said.

In a related development, Public Accounts Committee deputy chairman Dr Tan Seng Giaw said the committee had not set its sight on Low Taek Jho, who is reported to be in Kuala Lumpur.

He said the PAC’s priority was on calling 1MDB’s CEO Arul Kandasamy, auditors Deloitte Malaysia and examining the findings of the Auditor-General.

“As an important committee of the House, PAC acts according to Standing Order: it examines the accounts of the Federation, public authorities and other bodies administering public funds. 1MDB is owned by the Ministry of Finance,” he said.

For more on this story go to: http://www.thestar.com.my/News/Nation/2015/05/31/ExIGP-Cops-must-probe-2009-dealings-of-1MDB/
IMAGE: www.malaysiakini.com

See iNews Cayman related story with links published May 24 “SHOCKING NAJIB: Cash, then assets, 1MDB funds in S’pore now in ‘UNITS’” at: http://www.ieyenews.com/wordpress/shocking-najib-cash-then-assets-1mdb-funds-in-spore-now-in-units/