1MDB did not commit any offence, says A-G’s Chambers after Bank Negara review call


Source: The Malaysian Insider

The Attorney-General’s Chambers has maintained that 1MDB did not commit any offence relating to false disclosure. – Reuters filepic, October 8, 2015.

1Malaysia Development Berhad (1MDB) has not committed any offence related to false disclosure despite Bank Negara Malaysia’s appeal to review the case, the Attorney- General’s Chambers (AGC) said today.

This was despite the central bank requesting a review to a decision that was made last month that no further action was required in the Bank Negara probe.

“Having considered the request and the fact that there was no new evidence made available, the Attorney-General decided to maintain the decision made earlier,” AGC said in a statement.

1MDB officials were investigated under Exchange Control Act 1953, for knowingly and recklessly making a statement which is false.

The statement comes after the Conference of Rulers on Tuesday had said that investigations into 1MDB must be made public in order to show that nothing was being hidden in the probe on the state-owned investment firm.

The Malay rulers, who as sultans are ceremonial heads of their respective states and guardians of Islam, said they wanted Putrajaya to complete the investigation as soon as possible and act against those found to be implicated.

They added that the failure to give convincing answers might have resulted in a crisis of confidence.

The rulers said they were also worried that if the issue was not handled wisely and allowed to drag on, it could undermine the country’s economy and the people’s livelihood.

They feared that this could also threaten public order and national security. – October 8, 2015.


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