Financial Crime World

Here’s the converted article in markdown format:

Government ‘Gambling’ on Untested 1MDB

Kuala Lumpur, October 18 - The government’s gamble on the untested 1Malaysia Development Berhad (1MDB) has raised concerns over the country’s financial stability.

Fresh Debt Payment Tests and Controversy

Despite facing fresh debt payment tests, 1MDB continues to be shrouded in controversy. In April this year, businessman Jho Low denied any involvement in the alleged “heist of the century” involving 1MDB.

The United States Department of Justice (DOJ) has also charged Goldman Sachs with foreign bribery and agreed to pay over US$2.9 billion (approximately RM12.5 billion) in settlement.

Royal Rulers Urge Quick Completion of Probe

In a shocking twist, Malaysia’s royal rulers have urged for the quick completion of the 1MDB probe, describing the situation as a “crisis of confidence” for the country.

Government Response and Consequences

The government has since taken steps to address the issue, with Prime Minister Mahathir Mohamad appointing Lim Guan Eng as Finance Minister and returning Zeti Akthar Aziz to the Council of Eminent Persons. However, former Prime Minister Najib Razak remains banned from leaving the country while 12 individuals have been blacklisted for their alleged involvement in the 1MDB scandal.

Financial Woes Continue

The country’s financial woes continue to mount, with 1MDB still owing over RM30 billion (approximately US$7.8 billion) and over US$1.6 billion in misappropriated funds having been repatriated from abroad. Singapore has also agreed to return US$11 million in 1MDB-linked funds to Malaysia.

Altantuya Shaariibuu Murder Case

The Altantuya Shaariibuu murder case, which was linked to Najib, continues to be a thorn in the government’s side, with former police officer Sirul Azhar Umar ready to reveal all if he receives a full pardon. In a shocking new development, former police officer Azilah Abdullah has alleged that Najib ordered him to kill Altantuya.

Criticism of Government Handling

The government’s handling of the 1MDB crisis has been widely criticized, with some questioning its commitment to transparency and accountability. As the country continues to grapple with the fallout from the 1MDB scandal, it remains to be seen whether the government can restore public confidence in its ability to manage the economy.

Further Reading

  • “Skandal kewangan lebih 3 dekad di Malaysia”
  • “#KNOWTHETRUTH: 1MDB vs PERWAJA STEEL”
  • “Malaysia’s mess is Mahathir-made”
  • “Tun Dr. Mahathir 2nd most corrupt PM in the world?”
  • “Op-ed | Mahathir going for 3-in-1”
  • “Record of a spendthrift gov’t”