Malaysia's EX-DPM says movement of cash via PM Najib's AMBank/ANZ accounts "clearly a crime": ANZ in partnership with AmBank, clearly implicated in AmBank's laundering

by Ganesh Sahathevan

Malaysiakini has just reported:

Suspended Umno deputy president Muhyiddin Yassin today said he was presented with evidence about the deposits from state-owned SRC International into Prime Minister Najib Abdul Razak's personal bank accounts.

Muhyiddin said from the evidence, it was apparent that a crime had been committed.

"About the money from SRC International that went into Najib's personal bank accounts, I was personally informed by the former attorney-general (Abdul Gani Patail) together with evidence which clearly showed it to be a criminal act," he said in a press statement this morning.

The MACC had investigated the deposits of RM42 million from SRC International and US$681 million from an offshore account into Najib's personal bank accounts.

The transactions have been ealier reported and illustarted on Sarawak Report:

Inline image 1


ANZ has attempted to distance itself from these matters,but that was always going to be an impossibility given the extent of ANZ's management control at AMMB,the magnitude of the transactions, the high profile of the account holder, and this announcement that was made when ANZ first entered into what it described as a partnership with AMMB.
ANZ's then CEO  John McFarlane said: “The proposed AMMB partnership is part of our strategy of forming banking partnerships in Asia to supplement a strong local franchise with ANZ’s capabilities to accelerate growth. We now have a diversified portfolio of retail and small business focused partnerships in China, Indonesia, Malaysia, the Philippines, Cambodia and Vietnam. We will continue to add new partnerships over time.” 

And in addition, the Heads Of Agreement provided : 

 Relationship rights. ANZ will have the right to nominate agreed senior management positions, representatives on key Board and management committees, and directors on both AMMB and key subsidiary Boards. ANZ’s core policies, procedures, practices and codes of conduct will, to the extent appropriate in Malaysia, be adopted by AMMB in relation to the conduct of its banking and related business.


• Prior agreement. AMMB will obtain ANZ’s prior agreement before undertaking significant actions such as material related party transactions, major disposal, mergers, acquisitions or changes in its capital structure, or major changes in its overall strategic direction. 

The last point provides further evidence that ANZ must have been actively involved in the matter of Najib's USD 681 million donation.
END

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