Arab Malaysia & ANZ implicated in 1 MDB CBT

by Ganesh Sahathevan

The latest Sarawak Report expose on 1MDB and its chairman ,Malaysia's Prime Minister Najib Razak, implicates ANZ Bank and its Malaysian associate AmBAnk  (over which it has significant management control) as participants in a prima facie case of criminal breach of trust.
The diagram below published by Sarawak Report, and the accompanying story 
suggest that something in excess of USD 680 million from 1 MDB was placed in Najib's private account at AmBank for about 5-6 months.




That kind of money allows one to co-invest with the bank in say money market investments.The  profits from those types of activities  in which one gets to share can be very significant and it is highly unlikely that any bank would have that kind of money   sitting in  a deposit  account ,lending it out for  ordinary loans, earning interest while  paying the depositor a nominal interest like the rest of us.  What more when the depositor is the prime minister and minister for finance. 
It is therefore safe to assume that AmBank and ANZ would have come to an arrangement with Najib as to how the funds were to be invested and  how profits were to be shared. It is highly unlikely that the source of funds was not known. 
END


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