Friday 29 Mar 2024
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KUALA LUMPUR (April 13): Petaling Jaya Utara MP Tony Pua has today accused 1Malaysia Development Bhd (1MDB) president and chief executive Arul Kanda Kandasamy of covering up the multi-billion dollar scam involving 1MDB and British Virgin Islands-registered Aabar Investment PJS Ltd (Aabar BVI).

In a statement, the DAP national publicity secretary said Arul Kanda would not, during questioning by Parliament's Public Accounts Committee (PAC), affirm that Aabar BVI was related to Aabar Investments PJS (Aabar) of Abu Dhabi.

"Indeed, no one is claiming that Arul Kanda signed the agreements and paid US$3.51 billion to the fictitious Aabar BVI," said Pua.

"But Arul Kanda was fully aware of the fake BVI, and hence had refused since the allegation arose last year to answer any questions on the status of Aabar BVI," he added.

Pua said according to the Hansard of the PAC's 1MDB proceedings, he had asked Arul Kanda on Dec 18, 2015: "Is it true the allegations that the payment was made to an Aabar Investments PJS Ltd which was set up in perhaps BVI or Seychelles, which is unrelated to Aabar itself?"

After first answering about a "clear campaign against 1MDB and the government" by several media organisations, namely the Wall Street Journal, the Financial Times and the Sarawak Report, Arul Kanda said: "As far as we are aware, yes".

Pua alleged that Arul Kanda's refusal to provide a clear answer to the question only proved that Arul Kanda knew at all times of the entire scam and hid the information from the auditor-general and the PAC.

He also said the question arises as to why Arul Kanda hid the information from Malaysians and failed to institute actions against the relevant parties in the "scam", including 1MDB officials, the fake Aabar BVI and its officers, since Arul's appointment was in January 2015, six months before Aabar BVI was liquidated.

The International Petroleum Investment Corp (IPIC) and Aabar had denied ownership of Aabar BVI, and that neither has received payments from Aabar BVI nor has IPIC or Aabar assumed any liabilities on behalf of Aabar BVI, to which 1MDB had made RM3.5 billion in payments.

IPIC and Aabar had also said publicly available records showed that Aabar BVI was wound up and dissolved in June 2015.

"How can Arul Kanda not know that the US$1.367 billion of 'refundable security deposit', (the) US$993 million of 'refundable options termination payment' and an additional US$1.15 billion of 'top-up security deposit' have been paid to a company which [has] already ceased to exist!," the statement read.

"If he hid these crucial information, then he must be investigated for being an accessory to the entire scam," said Pua.

 

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