Posted by kk123 > 2014-12-15 21:23 | Report Abuse

http://www.themalaysianinsider.com/malaysia/article/after-umno-mans-report-police-open-investigation-paper-on-1mdb Police will open an investigation paper on the controversial state sovereign fund 1Malaysia Development Fund (1MDB) following a police report lodged by an Umno division leader. Home Minister Datuk Seri Dr Ahmad Zahid Hamidi said the report by Batu Kawan Umno division deputy chief Datuk Khairuddin Abu Hassan was strictly personal and had nothing to do with the Malay party. "It's an individual's problem, the division is not involved. I consider this a personal report lodged by the person. "1MDB is an off-budget agency, operating according to off-budget agency guidelines. "Now that a report has been lodged, the police will open an investigation paper and will act in line with normal investigating procedures," he said in Kuala Lumpur today. In his police report on Friday, Khairuddin had called for a “detailed and comprehensive” investigation, urging the authorities to interrogate 1MDB’s directors as well as representatives of any company implicated in its scandal. In an interview with The Malaysian Insider, Khairuddin denied he was part of an internal plot in Umno to weaken the party president and prime minister Datuk Seri Najib Razak. Najib is the chairman of the 1MDB advisory council. Khairuddin, reportedly a strong supporter of Tun Dr Mahathir Mohamad, who has been vocal in his criticism of Najib and the fund, had said he was only acting for the sake of public interests. Lodging the police report against 1MDB had nothing to do with Umno, its president or the finance minister, said the businessman who has been an Umno member for more than 25 years. Khairuddin's action has caught the attention of top party brass, with Umno secretary-general Datuk Seri Tengku Adnan Tengku Mansor advising him to retract the report, while Penang Umno distanced itself from Khairuddin's action, saying that he acted on his own. 1MDB – Najib's brainchild – is Malaysia's second sovereign wealth fund after Khazanah Nasional Bhd. The company had recently come under much scrutiny after several opposition leaders highlighted the fund's massive debts, dubious land deals and secrecy over its transactions. Dr Mahathir had also publicly criticised Najib and questioned the fund, asking Putrajaya to explain how 1MDB benefited Malaysians, as it incurred a RM38 billion debt within just five years of its operations. Besides Dr Mahathir, criticism against Najib and the fund have also come from pro-Umno bloggers, most prominently veteran newsman Datuk A. Kadir Jasin, who reported that Dr Mahathir was concerned enough to call for a meeting with top 1MDB officials to grill them himself. Hours after Khairuddin lodged his report, 1MDB responded on Friday night with a statement that the report had no legal basis. It also welcomed any investigation into its affairs and the opportunity to rebut malicious allegations. – December 15, 2014.