DAP: PAC chief behind 1MDB cover up

tony-pua-hassan-arrifin-1mdb

KUALA LUMPUR: Public Accounts Committee (PAC) Chairman Hasan Arifin was the “kingpin” behind the 1Malaysia Development Berhad (1MDB) cover up, the DAP said.

DAP MP Tony Pua called for Hasan to step down as PAC chairman immediately as he had “lost the confidence of Malaysians”.

“Hasan Arifin does not deserve to be PAC chairman. He helped cover up the entire scam when he denied that Jho Low owned Good Star Ltd.

“Najib (Razak) could not be investigated because Hasan had covered up the entire scam,” Pua said at a press conference at the DAP headquarters here today.

In May, Hasan denied that Malaysian financier Low Taek Jho was the owner of Good Star Limited.

The Wall Street Journal previously revealed a confidential letter from Bank Negara to Hasan naming Low, or Jho Low, as the beneficial owner of Good Star Limited.

“This is because Bank Negara had said the information provided was (for) intelligence (purposes). PAC is not an investigative body and the information it received has to be authentic and true.

“As the information received by the PAC is classified as intelligence, PAC is unable to incorporate the information provided as it would be in conflict with its duties and responsibilities and raise prejudices against various parties,” Hasan said at the time.

Yesterday, US Attorney-General Loretta Lynch told a press conference that 1MDB officials treated the state investment fund like “a personal bank account” and “stole billions of dollars from the people of Malaysia”.

The DoJ alleged offences were committed over a four-year period and involved multiple individuals, including Malaysian officials and their associates, who conspired to fraudulently divert billions of dollars from 1MDB.

In its documents, the DoJ had named Jho Low as the owner of Good Star Ltd, through which, the Department alleged, USD1 billion was fraudulently diverted from 1MDB.

“Between 2009 and 2011, under the pretense of investing in a joint venture between 1MDB and PetroSaudi International, a private Saudi oil extraction company, officials of 1MDB and others arranged for the fraudulent transfer of more than USD1 billion from 1MDB to a Swiss bank account held in the name of Good Star Limited,” the lawsuit read.

“Immediate action must be taken against all parties that were involved in the misappropriation,” Pua said.