Malaysia PM faces big challenges
Former Malaysian Prime Minister Mahathir Mohamad challenged the incumbent premier, Najib Razak, to reveal his bank accounts to disprove the allegations that 1Malaysia Development Bhd (1MDB) funds were transferred to the accounts.
"You (Najib) say you deny. Let's see the accounts," Dr Mahathir told BBC's Jennifer Pak in an interview published on the British media website on Wednesday.
"When people charge him (Najib) over something, he says it is a plot, 'it is nonsense, it is not true'.
"But prove that it is not true. It is very easy for him to prove that it is not true. He has these accounts in the bank. All he has to do is say 'you examine my accounts, you look at it'," said Mahathir, who was prime minister for 22 years.
The Wall Street Journal reported last week that investigators probing 1MDB had traced money worth nearly US$700 million from the debt-laden fund to Najib's personal account.
On Tuesday, the Journal released what it said were government documents from the probe of the prime minister, detailing a money trail that it said led to his personal bank account.
Najib has denied taking any money from 1MDB or any other entity for personal gain and is considering legal action.
Malaysia's attorney-general said today that the documents disclosed by the Journal were already the subject matter of an investigation.
Abdul Gani Patail also said in a statement that a freeze order issued on bank accounts on July 6 did not involve any bank accounts allegedly held by Prime Minister Najib Razak.
"A further concern was that the documents were allegedly leaked from within the investigation itself," he said, adding that he won't hesitate to prosecute any persons found to have leaked the documents.
Three policemen were seen at Menara IMC where commercial crime officers are conducting a raid on the 1MDB office. They have cordoned the eighth floor of the building where 1MDB is located on the Sultan Ismail Road.
On Tuesday a task force investigating Malaysia's troubled state investment fund 1MDB said it had frozen half a dozen bank accounts following the WSJ's report.
Singapore's central bank says it is in contact with financial institutions in relation to Malaysia's probe into the allegations.
Falcon Private Bank, a Swiss private bank owned by Abu Dhabi sovereign wealth fund International Petroleum Investment Company, said it is already in contact with the Monetary Authority of Singapore (MAS)and will be fully transparent with the authorities.
"Due to the bank client confidentiality, we are not allowed to make any comments on this case," bank spokesman Gianmarco Timpanaro in an email.
MAS said on Wednesday that it will provide assistance to Malaysia and share information where it is legally able to.
"In this connection, MAS has been in close contact with the relevant financial institutions," a MAS spokeswoman wrote in an email.
1MDB, a property-to-energy group whose advisory board is chaired by Najib, is facing criticism over its debt of nearly 42 billion ringgit ($11.04 billion) and alleged financial mismanagement.
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