Friday 29 July 2016

1MDB: The inside story of the world’s biggest financial scandal

On 22 June 2015, Xavier Justo, a 48-year-old retired Swiss banker, walked towards the front door of his brand new boutique hotel on Koh Samui, a tropical Thai island. He had spent the past three years building the luxurious white-stone complex of chalets and apartments overlooking the shimmering sea and was almost ready to open for business. All he needed was a licence.
Justo had arrived in Thailand four years earlier, having fled the drab world of finance in London. In 2011, he and his girlfriend Laura toured the country on a motorbike and, two years later, they got married on a secluded beach. The couple eventually settled down in Koh Samui, a tourist hotspot, just an hour’s flight south of Bangkok. After trying out a couple of entrepreneurial ventures, Justo eventually decided that he would go into the hotel business. He bought a plot with an imposing house and began building: adding a gym, villas and a tennis court.

That June afternoon, he was expecting a visit from the tourism authorities to sign off on the paperwork. Instead, a squad of armed Thai police burst through the unlocked door, bundling Justo to the groundThe officers tied their plastic cuffs so tightly around Justo’s wrists that he bled on the dark tiled floor. The police quickly moved into his office, ripping out the computers and emptying the filing cabinets.
After two days in a ramshackle local jail, Justo was flown to Bangkok and paraded before the media, in a press conference befitting a mafia kingpin. Still wearing shorts and flip-flops, he was flanked by four commandos holding machine guns, while a quartet of senior Royal Thai Police officers briefed the assembled reporters on the charges against him.
Justo was charged with an attempt to blackmail his former employer, a little-known London-based oil-services company named PetroSaudi. But behind this seemingly mundane charge lay a much bigger story.
Six months earlier, Justo had handed a British journalist named Clare Rewcastle Brown thousands of documents, including 227,000 emails, from the servers of his former employer, PetroSaudi, which appeared to shed light on the alleged theft of hundreds of millions of dollars from a state-owned Malaysian investment fund known as 1MDB.
The documents that Justo leaked have set off a chain reaction of investigations in at least half a dozen countries, and led to what Loretta Lynch, the US attorney general, described last week as “the largest kleptocracy case” in US history. - 
For a detailed narrative of this #MalaysianOfficial1 #1MDB scam to scheme Malaysia, go HERE.
It beats common sense why members of the Malaysian Cabinet are still throwing their little left weight behind a known thief.  
Please also read The Guardian's editorial that fits perfectly into Najib Razak's GLOKAL.


The old man who can't even throw stones to break a glass is super star again. He didn't have to break a single glass to send thieves living in the glass house running helter skelter, like the Malay saying "lari tak cukup tanah".

1 comment:

Anonymous said...

Sejak terbongkar skandal 1mdb ini pada tahun lepas,gelagat,alasan serta tindakan Najib dan sekutunya amat menampakkan mereka di pihak yang salah,....apatah lagi dengan terbongkar bukti sahih hasil daripada siasatan 'jejak aliran wang'....syabas kepada Saudara Apanama,kerana sentiasa konsisten dalam memaparkan berita benar walaupun pahit ditelan oleh mereka yang memakan cili terasa pedas....kali ini cili ni memang sangat pedas gred A.....terima kasih tidak terhingga kepada Yb Tun M yang dikasihi dan mereka mereka yang lain yang kental membongkar penyelewengan berskala besar ini....semoga mereka ini juga yang bersubahat sedang/akan menerima pembalasan sewajarnya.....(derma daripada penderma Arab konon,memang dah tahu awal awal lagi ..derma ni tak pernah wujud...hikayat 1001 malam betui depa ni na)