PH settling for return of less money from 1MDB, says Najib

Former prime minister Najib Razak says his administration signed a settlement agreement with IPIC in April 2017, in which the company was given until Dec 31, 2020 to repay the US$4.5 billion which went missing.

PETALING JAYA: Najib Razak has criticised the Pakatan Harapan-led government over the way it is seeking the return of 1MDB monies which went missing, saying it would not see the return of the full amount.

In a Facebook post, Najib highlighted the difference between Pakatan Harapan and Barisan Nasional in seeking the return of the missing US$4.5 billion.

Attorney-General Tommy Thomas was previously reported as saying that some US$322 million (RM1.3 billion) will be received from assets worth US$1.7 billion being claimed by the United States’ Department of Justice.

This US$1.7 billion, Najib said, stemmed from assets purchased with the missing US$4.5 billion which has yet to be returned.

“It must be remembered that the entire US$4.5 billion mentioned by the AG are the funds which allegedly went missing after it was transferred to or guaranteed by IPIC, which is owned by the government of Abu Dhabi.”

The clear difference between PH and BN, Najib said, was that PH only wanted to claim back the US$1.7 billion through the DoJ.

“On the other hand, the BN government wanted to claim back the entire US$4.5 billion which allegedly went missing after it was transferred to IPIC or guaranteed by them.

“We sought to claim back the funds from the people we transferred the money to, not from the assets bought by certain parties after the funds were transferred.”

Najib said this was why his administration signed a settlement agreement with IPIC in April 2017, in which the company would be given until Dec 31, 2020 to repay the US$4.5 billion which went missing.

But, Najib said, after PH took control of Putrajaya, it cancelled the settlement agreement with IPIC, and since then has not provided any updates on the matter.

“We have also not been informed if the PH-led government has continued any negotiations with IPIC or the Abu Dhabi government on this issue.

“Even though I have challenged the PH-led government on numerous occasions since June 2018 to make public the contents of the settlement agreement, they still refuse to.”

He lamented that the PH-led government has opted to seek the return of a much lesser amount of funds in stages from a third party, in this case the US government.

“It is my desire to bring back every sen from 1MDB which has gone missing,” he said, adding this was why he had opted for the settlement agreement.