Nazir Razak - Who is investigating him? Election Commission? Police?
"with hindsight wish I didn't. In run up to GE13, I was asked by my brother/party president to urgently help pass on cash to party machinery"..."I assumed and believed, in good faith, that the funds came from legit political funding. Entire amount was distributed, not a sen retained by me," Mr Nazir said.... Mr Nazir earlier told the Wall Street Journal (WSJ) that the money was disbursed by CIMB bank staff to ruling-party politicians according to the instructions of party leaders...He said he believed the money originated "with donations he had helped raise from Malaysian corporations and individuals for the elections", WSJ wrote. It is unclear if the "he" refers to Mr Nazir or Mr Najib... “I had no knowledge whatsoever that these funds may have originated from any other source(s),” Mr Nazir said in a statement quoted by WSJ... “The entire amount was paid out in cash to various recipients according to the instructions of the party president and the account was closed with a zero balance.”
Where did USD7 million (that is about RM28 million) come from?
No problem maybe if it was individual donations to UMNO or Barisan Nasional.
No problem if it was donations from private companies - but if it was donations from government-owned companies or GLCs, then we may have a problem. But, even from private company or individuals if there was 'corruption' involved - then...
Well, government owned companies and GLCs should be making money for the government and people of Malaysia - they have no business making donations to certain political parties or politicians.
CIMB IS A GLC ...? How much really does the Malaysian government own? Problems with 1MDB - so how are things with CIMB? How much profits of CIMB have Malaysian as owners or part-owners obtained? Let us not be talking just about the amount of 'taxes' CIMB paid - but really how much of the profits did Malaysia get?
Who exactly did Nazir give the money to? Well, who received it is important because we have strict laws that set the amount of monies that can be spent by a candidate in any elections?...
Where did the money given to Nazir come from is also a question? If it came from BN or UMNO bank accounts, then not so much a problem - but if the money came from individual accounts, it is a problem?
How was the money disbursed? Cash payments? Why did BN or UMNO simply not issue cheques or do money transfers - Was it to avoid any 'money trail'? Surely, the 'legitimate' money could simply be transferred to the various UMNO Branches or Divisions' bank accounts? Or is it UMNO (or BN) practice just to hand CASH over to individual persons or their bank accounts?Why?
Many Malaysian, are a bit too preoccupied with the desire to remove Najib as Prime Minister, which the 'Citizens Declaration' is also emphasizing - blame just the current PM - not the BN government - or the BN MPs that chose Najib to be PM, and continued to keep him on as PM...
The expose about Nazir Razak seem to have been 'forgotten' - more so, when he also with "with hindsight wish I didn't..." - well, note that he takes this position only in April 2016 - Why? Would it all have come out either way? Interestingly, some may have even raised this brother of Najib to a 'hero' status for having the guts to speak up...But regret does not absolve him if wrongs (maybe crimes) were committed...is Nazir cooperating with the investigators ..being a 'whistle blower' - with the intention of identifying all those who did wrong - and to prosecute them?
But let us remember that this same 'Datuk Seri Nazir Tun Razak has been appointed to Khazanah Nasional Bhd Board of Directors effective September 1, 2014 ' - and surely the PM and Finance Minister had a big say on this - and Najib Razak is both, and he brought in his brother... When we think 'Khazanah' - we remember what happened in Malaysian Airlines?
So, tell us what is being done following Nazir's 'confession' or 'admission' - revelations of wrongdoings and/or crimes? Money-laundering? Election Offences? Tax Evasion? Breach of Societies Act? OR MAYBE THE ATTORNEY GENERAL CAN TELL US THAT NO CRIME WAS COMMITTED...
CIMB probe: Nazir didn't misuse his position to disburse US$7m
Published UpdatedCIMB chairperson Nazir Razak did not misuse his position with regard to the US$7 million which he had confirmed he received from his brother Prime Minister Najib Abdul Razak.
This is the conclusion of the internal review conducted by the CIMB boards, which commenced on April 5.
Nazir had earlier announced on April 18 that he would be going on voluntary leave to allow an independent internal review on the US$7 million which he had helped disburse to politicians.
He will be resuming his position as CIMB Group chairperson and CIMB Bank director effective May 19.
"The findings from the review concluded that (Datuk Seri) Nazir Razak did not misuse his position as the group chief executive at that time nor was there any inappropriate use of the bank's resources," read a statement from the CIMB Group.
However, they admitted that they identified some "process shortcomings" and the boards have instructed the management to enact improvements and processes to prevent such an incident from recurring.
They added that they had appointed an external audit firm and had sought independent legal advice to assist with the internal review.
Meanwhile, CIMB Group senior independent director and chairperson of the audit committee, Mohd Nasir Ahmad, welcomed Nazir back as their chairperson on behalf of the boards.
“The boards welcome Nazir back to serve as chairperson of CIMB Group and director of CIMB Bank.
"The boards are committed to maintaining the highest standards of corporate governance in our organisation, and this decision was taken with firm intent towards fulfilling these obligations," he said.
Previously, The Wall Street Journal (WSJ) had quoted Nazir as confirming that he received US$7 million from his brother.
The money was then transferred to the ruling-party politicians according to the instructions of party leaders.
However, Nazir had told WSJ that he believed the money was from donations he helped raise from Malaysian corporations and individuals for the 2013 general election, and is not sure of any other source of the funds.
The CIMB chairperson had also posted on his Instagram saying he wished he had not helped Najib on this issue.
“I understand the furore, and with hindsight, I wish I didn't.
"I assumed and believed, in good faith, that the funds came from legitimate political fund-raising," he said on his Instagram, adding that the entire sum had been disbursed.
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