What if Tun M is correct that the RM2.6b is from 1MDB?

What if Tun Mahathir is correct that Najib stole RM2.6 billion from 1MDB and put it into his personal accounts?

A few days ago, Tun Mahathir said this:

"Najib said that it (RM2.6 billion) was a donation. Are we stupid (to swallow this lie).   

I am certain that the money in his personal banking accounts is from 1MDB. I am certain that it’s not a donation from an Arab.”

So if Tun Mahathir is correct, what then would the implications be? What is exactly at stake for all of us?

1. Najib Razak will cease to be Prime Minister of Malaysia and may go to jail.

This is provided that he loses the criminal case for any corruption charges brought on by the MACC, of course.

And of course he will also step down as the President of UMNO.

Najib: "Gee! I hope they won't put me in the same cell as Anwar"

As your read on you will find that if Tun M is correct, Najib will be the least of your concerns,

2. The person currently in charge of our police, our Home Minister and Deputy PM is a liar or incompetent. 


Yes, Our Home Minister, our current Deputy Prime Minister and possible future Prime Minister, Datuk Seri Ahmad Zahid Hamidi will be proven either a liar or incompetent as he is naive to simply believe unnamed Arab representatives.

I am in charge of internal security. If I am a liar then you'd better watch out!

This is because Zahid had said that he had personally met representatives of the Middle Eastern "family" who donated US$700 million (RM2.67 billion) to Datuk Seri Najib Razak. He said they told him the donation was to ensure Barisan Nasional (BN) and Umno won the 13th general election.

"I met with the donor's chief investment officer and I also met with the trustee of the funds," 

"He told me, 'Your Excellency's ‎country is not the only country we are channelling our donations. There are many other Muslim-friendly countries we have donated to'."

Zahid said they were helping BN because of the government's commitment to counter terrorism and maintain Malaysia's status as a Sunni country.-

Yes, if Tun M is correct then the Vice-President of UMNO is also a liar or incompetent.

3. Our Federal Territories Minister and our second Finance Minister are either incompetent, liars or complicit of abetting a crime.

Umno secretary-general Datuk Seri Tengku Adnan Tengku Mansor said he and the party treasurer and second Finance Minister Ahmad Husni  knew about the RM2.6 billion in Datuk Seri Najb Razak's personal accounts, 

Yes, I knew about the money. I explained so many times and you refuse to listen?

Tengku Adnan said the matter had been "repeatedly explained". "We have repeatedly explained this issue. As the secretary-general, I am aware of it and so is the party treasurer," 

Yes, if Tun M is correct then the Secretary General and the Treasurer of UMNO are both either liars, incompetent or abetting PM Najib of stealing billions from 1MDB.

4. Malaysia's MACC are liars, incompetent and cannot be trusted.

The donors who deposited RM2.6 billion into Prime Minister Datuk Seri Najib Razak’s bank accounts are from the Middle East, the Malaysian Anti-Corruption Commission (MACC) confirmed, although it said their identities cannot be disclosed.

In a statement, the commission said it had found out about the donors’ details through bank documents.

“MACC has obtained explanation from the donors who originated from the Middle East and they have verified the donation.

MACC speaks. Can they be trusted? 

“The RM2.6 billion donation has no connection at all to 1MDB,” MACC said.

According to MACC, it had found four letters that were given to the bank when the RM2.6 billion amount was deposited into Najib’s account, with the bank documents stating that the contribution was a “donation”.

Yes, if Tun M is correct then our MACC are liars, incompetent and cannot be trusted and future investigations of any graft charges including the SRC probe are highly in doubt.

5. Malaysia's Auditor-General office are liars, incompetent and cannot be trusted - at least in the interim.

The Auditor-General's interim audit of 1MDB didn’t find any suspicious activity, providing a reprieve for Prime Minister Najib Razak as he fends off claims that money connected to the firm may have ended up in his own bank accounts.

To be fair, the Auditor General did say that this is an interim report that is 50% done but there is nothing suspicious at this moment,

Yes, if Tun M is correct then our AG are liars or incompetent thus far as they have yet to find billions missing from 1MDB even though they have completed the interim audit report.

6. Malaysia's entire financial system and possibly the world's financial system may collapse

I am not joking.

This is because our entire financial system is based on dependable and reliable Audited accounts to function. Banks lend money based on audited accounts, our stock market and investors depend on audited accounts to value the shares and decide if they want to put in their money or not.

Even our tax department depends on audited accounts to determine whether you are paying the right amount of taxes.

1MDB's auditors are the biggest and most trusted global names and include three out of the so-called Big 4 auditors - Ernst and Young, KPMG and Deloitte.

Ernst and Young did 1MDB's 2009 audit and cleared them without qualifications. However, at that time 1MDB did not have much money and not much transactions so we can absolve Ernst and Young of being culpable.

KPMG did 1MDB's 2010, 2011 and 2012 audits and cleared them without qualifications. This period of time had the most controversial transactions including the PetroSaudi joint venture.

Deloitte did 1MDB's 2013 and 2014 audits and cleared them without qualifications. This period was also significant as it was when 1MDB bought all those power plants and did all those joint-raising of funds and joint-ventures with Abu Dhabi govt owned IPIC and Aabar.

And even when called to give evidence during the PAC probe into 1MDB, both KPMG and Deloitte said they reconfirmed that they stand by the accuracy of their audit.

If both KPMG and Deloitte cannot be trusted then we are kind of screwed.

• Auditing firm KPMG stands by their work on 1MDB accounts from 2010 to 2012 when testifying to the parliamentary Public Accounts Committee (PAC).

• Deloitte & Co has insisted that its March 2014 audit on 1MDB is legitimate,“Deloitte told us that they have seen the bank statements pertaining to the RM13.4bil of assets in BSI Bank. They can verify the value of the assets in question as they did a test on whether the assets were at fair value at that point in time for FY14,” PAC chairman Datuk Nur Jazlan said at a press conference after the inquiry.

• “As of March 31, 2014, Deloitte said they had gotten independent valuation of these assets of RM13.4bil and the valuations tallied. Deloitte had not done any work for FY15, as they only did it up to March 31, 2014,” PAC member Tony Pua, who was also present, said.

If both KPMG and Deloitte are so incompetent and cannot detect billions missing from 1MDB and cleared the accounts from 2010 right up to 2014 then there is no more hope for the Malaysian financial system. Banks may stop doing business and our stock market will collapse.

And since KPMG and Deloitte are two out of the Big 4 global names and does audits all over the world, Global finance markets will also be in crisis.

This would be even bigger than the Enron Crisis where former Big 5 audit firm Arthur Andersen had to close shop. In Enron's case, it was about inflating revenues via off-balance sheet transactions and not about failing to detect billions of dollars missing.

Therefore, if Tun M is correct then we would be  financial and economic disaster locally and possibly on a global scale.

Conclusion

I don't know about you but I sure hope that Tun Mahathir is wrong  that Najib stole RM2.6 billion from 1MDB and put it into his personal accounts

I hope he is wrong about this the same way previously that he was wrong about Pak Lah and son-in-law Khairy Jamaluddin when he accused Pak Lah and Khairy of being absolutely corrupt, But strangely, after Pak Lah stepped down there did not seem to be any wrong-doings confirmed and all the allegations of corruption mysteriously vanished. 

Heck, instead of going to jail Khairy even continued on to get elected into Parliament (twice) and became a Federal Cabinet Minister too.

But if Tun M is right then our future Prime Minister and the guy responsible for our police force, our MACC, our Auditor General and our Second Finance Minister are all either liars or incompetent.

And our local financial system and economy and possibly the global system too would be in crisis since two out of the Big 4 Audit firms cannot be trusted or are incompetent in detecting billions are missing from the accounts.

Yup. Entire Malaysian government cannot be trusted and we would be in financial and economic disaster too if Tun M is correct.

Let's hope not.

As for the RM2.6 billion, did it really come from the Arab donors and why?

I had explained why this is still in the realm of possibility and the Arabs did it probably because they wanted to save their own skin then.

EPILOGUE: Read further only if you have time and can accept criticisms against our elder "statesman"

Tun M has been quite culpable of "extreme bending of the truth" recently. The following are some examples.

He bent the truth that Malaysia is top ten most corrupt in the world even though we are ranked 50th   least corrupt our of 174 countries in Transparency International's Corruption Perception Index 2014 (we have been improving every year since 2009).

 He bent the truth saying that the TRX land is worth RM7000psf and Bandar Malaysia's land is worth RM1000psf and that 1MDB got it almost free. He repeated this again today.

He bent the truth saying that he "did not manage to raise a single dollar from the Arabs" when he built IIUM even though in IIUM's own website, it was stated the donations came from the Middle East. 

He bent the truth again saying that he only spent RM10million in campaign funds for Barisan Nasional for each General Elections. Since I assume you can do maths, I won't even bother, 

But it begs the question that if only RM10m is spent for each General Elections, then why was UMNO having so many proxies holding their money and why UMNO had to own so many companies? And why did he need to hand over RM1.2 billion to Pak Lah when he retired as President? 

At RM10m each per General Election, RM1.2 billion would be enough to fund the next 120 General Elections over the next 600 years.

Again, Tun M massively bent the truth to say the government forced the MACC director to take long leave when the truth is that the director had to undergo urgent surgery near his spine and needed two months recuperating time.

Tun M also bent the truth when he said all the Power Plants that 1MDB bought was going to expire and they could have bought it as "scrap metal". Turns out that only three out of the 14 plants were going to expire in the next 5 years (the earliest was 3 years later) and one was already renewed..

List of 1MDB power plants from a recent The Edge article

Tun M also bent the truth when he said 1MDB grossly overpaid for all the power plants. Turns out that in 1MDB latest tender to sell of their power business, they had received several bids above RM20b for their power plant business (1MDB paid RM18b to buy all these plants).

Click to Zoom and read The Edge recent article about who bid how much for 1MDB's power business.

Tun M also bent the truth to say the government has never answered his question on where the RM42 billion debt was spent on when it was answered numerous times by the Prime Minister, by 1MDB itself and by our Second Finance Minister in this very detailed 1 hour TV special. It is just that Tun M refused to listen or acknowledge the replies and went on to repeat the same old allegations over and over again..

An entire hour of explaining "Di Mana wang RM42b" and the majority of Malaysians are too lazy to watch but prefer to still believe RM42b is missing!

Tun M also bended the truth when he said Street Rallies are acceptable to overthrow the Prime Minister since for decades he said this is unacceptable and that only Donkeys and fools join the BERSIH rallies. Listen for yourself what he said just 3 years ago.

And if you want to know how he dealt with such street rallies in the past, have a look at his video - along with hundreds of police carrying machine guns and automatic rifles along with Armoured Personal Carriers on the streets of KL too.

In recent months, Tun M also gave interviews to the New York Times, to BBC and to The Australian where he used the foreign press to slam and bad-mouth Malaysia - this is despite decades of telling us that the foreign press cannot be trusted and have hidden agenda. 

For decades, he had criticized Anwar Ibrahim and opposition leaders using the foreign press to badmouth Malaysia but yet Tun M does exactly the same - int the USA, in England and in Australia too.

But my all-time favorite Tun M excuse is this one recently:

He had to sack the Lord President and suspend the entire Supreme Court  (our highest courts then) in 1988 because the late Agong complained that the then Lord President complaisance that the Agong's palace renovation was too noisy. He only gave this excuse after the Agong had passed away and could not defend himself.

FMT calls it "Twisted" 

I am sure that his excuse was "valid".

And not because the Lord president and all 6 judges of the Supreme Court were removed by Tun M to prevent an impending court case challenge against his UMNO presidency which would very likely remove him as Prime Minister then. 

The worst constitutional crisis ever in Malaysia which led to the reputation of Malaysia's legal system being in doubt even until today.

My personal view is that Tun M has become desperate and will resort to anything. That's what desperados do. 

He did not expect PM Najib to fight back decisively by removing the people loyal to Tun M within the system all in one go. This has closed off much of his options and made him desperate. 

And the reason why he is desperate is because he is Kiasu 

He has never lost before and always got his way. Now he is scared to lose and become Kiasu.  

Kiasu forced him to become desperate. 

Desperate people no longer calls about being called an extreme hypocrite and do not mind being a serial liar. 

He needs to know that this country is not by him, for him and to him. 

Yes, I have disrespected Tun M. But he made me disrespect him by continually lying and being a hypocrite with his recent actions.   

I used to respect you so much. But that was in the past - sentiments similarly expressed by so many others recently due to your recent actions including participating in BERSIH rallies two days straight and giving our national day celebrations a miss the very next day.

Is it in the constitution or in Pendidikan Moral that I must respect lying hypocrites?

And no. We no longer "owe it all to you" as you claim in your recent June 2015 interview in The Australian.