He said if they truly want to penalise Dr Mahathir, who was then the Umno president and prime minister, the party members who defended him had to be penalised for it.
“A thorough investigation has to be done. If we have to carry out an investigation, we have to go all out (sampai ke lubang cacing). Do not forget that the Dr Mahathir era was also an Umno era,” Syed Saddiq said in his statement today.
Former Bank Negara Malaysia(BNM) deputy governor Abdul Murad Khalid was reported recently as saying that BNM suffered US$10 billion (RM44.27 billion at present) losses in foreign exchange trading in the early 1990s during Dr Mahathir’s administration.
Earlier today, Umno Youth urged the government to set up a royal commission of inquiry to investigate the losses incurred by BNM in the business deal.
Umno Youth deputy chief Azwan Harun wanted the investigation to be carried out to see if the losses suffered by the bank were way more than what was announced.