KUALA LUMPUR (March 4): The government has never compromised in upholding justice and ensuring that those allegedly involved in the 1Malaysia Development Bhd (1MDB) affair to continue facing legal prosecution.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the recent settlement with Deloitte was part of ongoing efforts by the government against all parties allegedly involved, directly or indirectly, with 1MDB and related entities.
The settlement with Deloitte is the largest 1MDB-related settlement with an audit firm in Southeast Asia, of which Deloitte agreed to a settlement of RM324 million to settle all claims related to its fiduciary obligations while auditing 1MDB and SRC International Sdn Bhd accounts for the period of 2011 to 2014.
“This latest solution is beneficial for Malaysians. Resolving this matter through the court system will involve a lot of time and financial resources. With this settlement, the payment of that amount will be expedited, and will not be delayed through a time-consuming court system,” Tengku Zafrul said in the 43rd Economic Stimulus Implementation and Coordination Unit Between National Agencies (LAKSANA) report today.
The finance minister said the settlement amount could also be used to fulfil 1MDB's outstanding obligations.
He said this global solution will also not affect or compromise Malaysia's claims on individuals such as fugitive businessman Low Taek Jho (Jho Low), former 1MDB general counsel Jasmine Loo and other related parties, and those still actively sought in connection with the 1MDB scandal.