KUALA LUMPUR (Sept 10): 1Malaysia Development Bhd (1MDB) has lashed out at one of its harshest critics, federal lawmaker Tony Pua, and told him to step down from his position in the Public Accounts Committee (PAC), pending the completion of a police probe on Pua in relation to a conspiracy to topple the government.

The statement came just hours after Pua called on the Finance Ministry-owned strategic investment fund to come clean on the bond arrangements and guarantee by Abu Dhabi's International Petroleum Investment Corporation (IPIC) to ensure 1MDB is not to be blamed for the reported disappearance of US$1.4 billion.

Pua said 1MDB must provide full disclosure of the terms of the guarantee and options agreement with IPIC, adding that 1MDB's denial of The Wall Street Journal (WSJ)'s report yesterday alleging that the US$1.4 billion payment was never received by IPIC, was not enough.

1MDB is now under public scrutiny after amassing RM42 billion debts since it began operations in 2009, and the PAC, in which Pua is a member, is among those leading an inquiry into the state-owned fund.

In response, 1MDB, in a statement, reminded Pua that the key terms of the bond and IPIC guarantee are contained in the notes to its audited accounts dated March 31, 2013 and March 31, 2014.

"These are publicly available documents. 1MDB had also provided a detailed answer to the WSJ report on Sept 9, 2015, [and] defended its audited accounts and confirmed that it cannot comment on nor have knowledge of, the accounting arrangements of third parties such as IPIC or (its subsidiary) Aabar (Investments PJS)," it reiterated.

It also noted that it was disappointed that Pua had admitted that he introduced journalist Clare Rewcastle-Brown to Datuk Tong Kooi Ong and Ho Kay Tat of The Edge Media Group.

"We further note media reports that YB Tony Pua has not denied knowledge that Clare Rewcastle-Brown was dealing with stolen goods," it added.

It also drew attention to media reports quoting Inspector-General of Police Tan Sri Khalid Abu Bakar who had said the police had opened an investigation paper under Section 120 of the Penal Code to probe alleged attempts to topple the government, and that Pua would need to be recalled again after admitting he left out a few things when his statement was first recorded.

"We hope YB Tony Pua will 'come clean' with his answers to the police," said 1MDB.

"1MDB has consistently maintained that the appropriate forum to share information is to the lawful authorities investigating 1MDB, including the PAC. It would appear that YB Tony Pua, notwithstanding his role in the PAC, wants to be judge, jury and executioner for 1MDB," the debt-laden fund charged.

It urged Pua to "practise what he preaches to others and step down from the PAC while he proves his innocence on the various allegations made against him".   

"1MDB is disappointed to hear of the alleged actions by Pua. Whilst we have had differences of opinion with him, we respected his tenacity and focus.

The WSJ had reported yesterday that IPIC did not get the promised US$1.4 billion from 1MDB and that its consolidated financial statements showed no reference to the receipt of the payment. It also noted that it was not clear where the money went.

In rebutting the report, 1MDB had said its own audited financial statements have clearly described the amount and the purpose of the US$1.4 billion payment.