KUALA LUMPUR (April 7): 1Malaysia Development Bhd (1MDB) had seen "gross mismanagement and wanton neglect" of good governance and accountability under former chief executive officer Datuk Shahrol Halmi, according to Public Accounts Committee (PAC) member Tony Pua.

In a statement today, Pua, who is also Petaling Jaya Utara MP, said the Auditor-General's (AG) findings in the PAC report on 1MDB had vindicated 1MDB's critics.

"The tabling of the PAC report today, with the accompanying transcripts of all its proceedings since May 19, 2015, in Parliament has now fully vindicated us.

"The findings of the AG, summarised in the 106-page PAC report, and the relatively brief conclusion by the PAC confirm gross mismanagement and wanton neglect of all principles of good governance and accountability," he said.

Pua said the PAC report had requested Shahrol and related parties to be investigated following the announcement of the AG and PAC's findings.

As such, he said the police must immediately investigate Shahrol and his associates as there was enough evidence to indict 1MDB's top management and board of directors.

"The Inspector-General of Police must take immediate action to investigate Datuk Shahrol and his associates. I will go further to call not only for Datuk Shahrol Halmi be sacked with immediate effect, but the entire board of directors who have failed to protect the interest of the Government and the tax-payers to be removed as well.

"There are many other shocking misdeeds and transgressions which have been disclosed in the PAC report, which won't be listed here in my statement. However, what is clear is that there is more than sufficient damning evidence to indict not only the entire top management but also the entire board of directors," Pua said.