$681 Million In Mystery Money Found In Malaysia PM's Bank Account Was "Personal Donation" From Saudis

Tyler Durden's picture




 

Over the course of the last six months, we’ve documented the curious case of 1MDB, Malaysia’s government investment fund founded in 2009.

It’s a long and exceptionally convoluted story that doesn’t exactly lend itself to a concise summary but suffice to say that the development bank was something of a black box right from the beginning and in 2013, some $680 million allegedly tied to 1MDB ended up in Malaysian PM Najib Razak’s personal bank account just prior to an election.

There are any number of twists and turns in the 1MDB story including two bond offerings facilitated by a Goldman banker with ties to Najib and his wife, some shenanigans with a subsidiary of an Abu Dhabi sovereign wealth fund, a questionable Cayman Islands account or two, a dispute with KPMG, and an Australian firm that specialized in Malaysian penny stocks, but at the end of the day, Malaysians just want to know what exactly will come of an investigation into how Najib ended up with nearly three quarters of a billion dollars.

As it turns out, nothing will come of the investigation. On Tuesday, Malaysia’s top prosecutor Attorney General Mohamed Apandi Ali cleared Najib of any wrongdoing and ordered the probe into the transfer closed.

The money, apparently, was a “personal donation” from the Saudis and substantially all of it was “returned,” the investigating body said. “The four-page statement didn’t address several issues that Malaysians have sought answers to, such as: Who specifically donated the money?; Why was it donated?; And what happened to the money that wasn’t returned?,” WSJ remarked on Tuesday.

All important questions to be sure.

After all, one doesn’t simply transfer $681 million to someone else’s bank account for no reason, and Apandi seems to think Malaysians won’t notice the fact that $61 million of the funds are still unaccounted for.

“This issue has been an unnecessary distraction for the country,” Najib said in a statement. “Now that the matter has been comprehensively put to rest, it is time for us to unite and move on.”

Yes, it’s time to “unite and move on,” and there’s no reason for anyone to ask any more questions about why the Saudi royal family inexplicably “donated” $681 million to the PM who by all accounts seems to have simply pocketed $61 million of the total, nor is there any reason to ask why Najib decided to return the majority of the money five months later.

Najib's statement also said there were no strings attached to the transfer. "The donor didn't expect anything in return from Mr. Najib in relation to his capacity as a prime minister," the PM's office went on to insist. 

Right. So the Saudis just gave away $681 million and didn't expect anything at all in return. That makes all kinds of sense. It's more likely that the money has some connection to a $1.8 billion joint venture between 1MD and PetroSaudi, although as today's judgement makes abundantly clear, we'll likely never know the whole story.

For its part, Riyadh says it will look into the matter but because the "donation" was made under the previous government, the secrets may be buried with King Abdullah. 

As if all of the above wasn't enough, Najib also received "around" $14 million in transfers from another entity tied to 1MDB early last year. "That money entered his accounts from SRC International, a unit of the Finance Ministry, which Mr. Najib also heads, via Ihsan Perdana, which carries out corporate social responsibility for 1MDB, the earlier Malaysian government probe found," WSJ goes on to recount. Hilariously, Apandi concluded that "there was no evidence that Mr. Najib was aware" of those transfers. So an entity under the PM's control transferred $14 million to his bank accounts and he was completely oblivious to it. Got it.

Needless to say, Apandi's move to exonerate Najib has done absolutely nothing to appease the PM's critics. "Mr. Apandi has provided no new or convincing information or arguments to show the fund transfers were bona fide and not used for corruption," one opposition lawmaker said.

Fortunately, separate investigations are being conducted in multiple other countries including the US where the FBI is looking into "luxury real estate" the PM owns in New York and Los Angeles.

We're confident the US government will take this probe very seriously. 

Oh, wait...

Next up, more street protests in Kuala Lumpur.

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Tue, 01/26/2016 - 14:38 | 7098445 JustObserving
JustObserving's picture

How much mystery money did Hillary get from the Saudis?

It's time that the corrupt, criminal, cruel cabal that runs Saudi Arabia met its karma.  

Tue, 01/26/2016 - 14:39 | 7098456 Ghost of PartysOver
Ghost of PartysOver's picture

Probably not much.  But I am sure Bill got a Harem or two.

Tue, 01/26/2016 - 14:42 | 7098467 hedgeless_horseman
hedgeless_horseman's picture

 

 

I am sure all that Obama got was a gold necklace.  Right.

Tue, 01/26/2016 - 14:43 | 7098474 Pinto Currency
Pinto Currency's picture

 

 

 

Remember the Malaysian gold dinar?

Tue, 01/26/2016 - 14:46 | 7098487 KesselRunin12Parsecs
KesselRunin12Parsecs's picture

So, does this mean that Reggie Love has a gold plated dick to go along with his gold plated grill?

Tue, 01/26/2016 - 14:51 | 7098516 BurningFuld
BurningFuld's picture

Now let this be a lesson to everyone. You have to start replying to those emails asking you to move money out of Nigeria. It's that simple!

Tue, 01/26/2016 - 14:58 | 7098542 Divided States ...
Divided States of America's picture

Definitely something to do with MH370 and MH17. This guy sold out his own citizens for money. And you are who you hang with....so Obozo will do the same to Americans.

Tue, 01/26/2016 - 15:06 | 7098571 NoDebt
NoDebt's picture

Now THAT is how you do corruption properly.  Take the money keep some for yourself, buy an election and they pay off the prosecutor so you don't get brought up on charges.  Then you give everyone else the middle finger right out in broad daylight.  That's straight-up mafia tactics right there.  

Tue, 01/26/2016 - 15:11 | 7098586 NoDebt
NoDebt's picture

And another thing while I'm good and worked up.  How can it be this deep in this thread that still nobody has made the obvious connection with Mugatu brainwashing Derek Zoolander to kill the Malaysian Prime Minister?  I'm ashamed of you guys.

Tue, 01/26/2016 - 15:15 | 7098628 wet_nurse
wet_nurse's picture

I'm still trying to figure out why Million_Dollar_Bonus is involved in this

Tue, 01/26/2016 - 15:19 | 7098653 Xibalba
Xibalba's picture

Banks pay for posts...  The NSA also monitors 'opinions' closely. 

THOUGHT POLICE aka. MINISTRY OF TRUTH

Tue, 01/26/2016 - 16:09 | 7098877 Tarzan
Tarzan's picture

Obama looking over the shoulder of a thieving billionaire, with a shit eating grin,

ya, we call him our prez..

A fitting image of what we've become...

Tue, 01/26/2016 - 17:11 | 7099151 OrangeJews
OrangeJews's picture

When are we going to wake up and start eliminating our problems?

Tue, 01/26/2016 - 18:16 | 7099443 UnpatrioticHoarder
UnpatrioticHoarder's picture

+100 to MH17/MH370 link....

Tue, 01/26/2016 - 14:47 | 7098494 nink
nink's picture

Don't forget the australian bank note bribary scandal and najib http://www.smh.com.au/national/bribery-scandal-linked-to-malaysian-prime...

Tue, 01/26/2016 - 15:17 | 7098644 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

I am shocked, shocked! To learn that a central bank is involved in illegal activity.

And for Malaysia, he didn't like what his previous Attorney General had to say about the deal so he put in his cousin as AG. I wonder whose cousin Loretta Lynch is? Maybe Hilary's? Keep her out of jail until after the election, then she can pardon herself? Marc Rich's pals would assist.

Tue, 01/26/2016 - 14:48 | 7098503 robertsgt40
robertsgt40's picture

Wheels will always need more grease. 

Tue, 01/26/2016 - 15:11 | 7098606 lasvegaspersona
lasvegaspersona's picture

are you suggesting a 'pearl necklace' was involved too?

Tue, 01/26/2016 - 14:51 | 7098518 sam i am
sam i am's picture

“I’m declaring a war, in every sense of this word on this handful of shaitans."

 

http://thesaker.is/liberals-attack-ramzan-kadyrov-putin-and-sovereignty-of-russia-by-scott/

Tue, 01/26/2016 - 14:41 | 7098460 Bilderberg Member
Bilderberg Member's picture

What's in Obama's checking account?......Reason number 2,562 to vote Trump, He doesn't need the money!!!!

Tue, 01/26/2016 - 16:58 | 7099096 ATM
ATM's picture

Fuck Trump. He would be no different than electing Warren Buffett to office.

Tue, 01/26/2016 - 18:38 | 7099555 InflammatoryResponse
InflammatoryResponse's picture

are you kidding?  Buffet is nearly as corrupt as Hillary.

 

Tue, 01/26/2016 - 14:43 | 7098475 KnuckleDragger-X
KnuckleDragger-X's picture

Must of been one helluva blowjob.......

Tue, 01/26/2016 - 15:15 | 7098587 Kirk2NCC1701
Kirk2NCC1701's picture

Just nuke Riyadh, Mecca and Medina, and you'll have peace in the ME.

If you want world peace, then you'd better add Tel Aviv and Yerushalayem to that list. 

For only when you get rid of entitled & inbred aristocrats, imperialistic ideologues and absolutist religious fanatics, will you have peace.

Note that you would not be targeting the Populace in which these nutjobs and parasites are embedded, but their centers of wealth, power and temples of ideological fraud. And lest we forget, it was the US itself -- the empire of self-righteous hypocrisy --that nuked Hiroshima and Nagasaki... "for the Greater Good".

 

Tue, 01/26/2016 - 14:40 | 7098459 Bangin7GramRocks
Bangin7GramRocks's picture

This makes my Bahrain hurt!

Tue, 01/26/2016 - 14:41 | 7098463 Xibalba
Xibalba's picture

Oblamaa Ahkbar!

Tue, 01/26/2016 - 14:45 | 7098489 Mike in GA
Mike in GA's picture

Oh shit!  THAT explains the $478 million I found in my bank account this morning!  I was wondering just where oh where did that come from!  

Tue, 01/26/2016 - 16:20 | 7098928 Donald J. Trump
Donald J. Trump's picture

Yep. Happened to me too.  One month I could not balance my checkbook.  It was only over by $700 million so I said fuck it, must be a rounding error.

Tue, 01/26/2016 - 14:46 | 7098490 AgShaman
AgShaman's picture

We're sorry, but we may have to rehypothecate a few more of your jetliners.

How's about some 'clown-bux' for your trouble?

Tue, 01/26/2016 - 14:46 | 7098493 Dr. Engali
Dr. Engali's picture

The lawmakers will see to it that all corruption is weeded out. Just ask Corzine. 

Tue, 01/26/2016 - 15:19 | 7098656 KesselRunin12Parsecs
KesselRunin12Parsecs's picture

The lawmakers will see to it that all 'weed' is corrupted out... Just ask the CIA...

Tue, 01/26/2016 - 15:28 | 7098693 Lumberjack
Lumberjack's picture

Hillary Must be PISSED!

Tue, 01/26/2016 - 14:49 | 7098505 Herdee
Herdee's picture

TacoTime has mystery meat,now you know about mystery cashish.I smell a bribe or payout for favours received.Nothing like taking cash from the biggest supporter of terrorism and human rights abuses on the planet.Obama is just another fuckin' mooch.

Tue, 01/26/2016 - 14:49 | 7098510 iClaudius
iClaudius's picture

Price of 2 777s

Tue, 01/26/2016 - 15:40 | 7098744 pipes
pipes's picture

...and the corresponding cover-up

Tue, 01/26/2016 - 14:50 | 7098513 cpgone
cpgone's picture

I thought Mugatu killed him in zoolander??

Tue, 01/26/2016 - 14:51 | 7098520 FrankieGoesToHo...
FrankieGoesToHollywood's picture

$61M in bank transfer fees both ways, thats what happened to the unaccount for funds.  I mean bankers are bankers no matter where in the world.

Tue, 01/26/2016 - 14:54 | 7098530 Mr. Schmilkies
Mr. Schmilkies's picture

"...the PM who by all accounts seems to have simply pocketed $61 million of the total"

His finder's fee.

Tue, 01/26/2016 - 14:57 | 7098536 css1971
css1971's picture

How dumb. European and American politicians have Swiss bank accounts for bribes.

Tue, 01/26/2016 - 14:58 | 7098538 vegas
vegas's picture

And nobody seems to think this kind of Saudi money isn't flowing to one Barry Soetero? Who the fuck you think is paying for the multimillion dollar digs this asshole will inhabit in Hawaii once he's done in about 1 year? Who do you think will fund his Preezy libary in the poeple's Republic of Chicago? Now you know why he was on his knees bowing to the Saudi King and apologizing for Amerika on your behalf. WTF

 

www.traderzoo.mobi

Tue, 01/26/2016 - 15:05 | 7098563 Vin
Vin's picture

It's his equivalent of the Clinton Foundation.

Tue, 01/26/2016 - 15:04 | 7098568 ToSoft4Truth
ToSoft4Truth's picture

And if we deposit $10,000 or more it triggers a Currency Transaction Report. 

Tue, 01/26/2016 - 15:09 | 7098591 Atomizer
Atomizer's picture

No fucking shit. Been warning you about those Sand Niggers. It's beyond belief if you read the agenda from 2005. I'd make them suck on a camel penis for torture. 

/LOL

Tue, 01/26/2016 - 16:11 | 7098885 More Ammo
More Ammo's picture

I am sure those muzzies would be fine sucking came cock as they will f*ck them.  How about making them suck a long spiral bore hog?

Tue, 01/26/2016 - 15:10 | 7098601 Fuku Ben
Fuku Ben's picture

Wired? You can't wire gold. That's the only form of payment these hoarders should be taking right now. I'd wired each of you on here $681 million dollars in non-existent fiat if I could. But wire fraud is only legal for the criminals that have cornered the fraudulent market in fiat. So in lieu of that we're stuck with selfies. And you can definitely count me out on that one too.

Tue, 01/26/2016 - 15:11 | 7098603 ToSoft4Truth
ToSoft4Truth's picture

Same people Bush was kissing up on.  Nothing to see here. 

Tue, 01/26/2016 - 15:23 | 7098672 insanelysane
insanelysane's picture

Shhhhh.  The red and blue teams will get upset.  They wear different colors and some carry a gourd on the end sticks and some carry a sandal on the end of a stick.

Tue, 01/26/2016 - 15:24 | 7098676 insanelysane
Tue, 01/26/2016 - 16:11 | 7098888 therover
therover's picture

+ a million brother. Bush's have been get paid by these cocksuckers for decades.

Tue, 01/26/2016 - 15:20 | 7098659 insanelysane
insanelysane's picture

Corzine donated some vaporized money to his bankster buddies.

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