$170 Million Straight From Civil Service Pension Fund Into Najib’s Personal Account!

Photo credit - Sarawak Report

28 October 2016

Speaking to an audience in Geneva yesterday DAP Finance Spokesperson, Tony Pua detailed the simple steps by which US$170 million was transferred out of the Civil Servant Pension Fund, KWAP into Najib’s personal AmBank spending account in 2011.

The transfer, long suspected by observers, represents one of the final missing jigsaw pieces in the tale of theft at 1MDB and raises further questions about the transactions of yet another Swiss Bank Julius Baer and also the role of Standard Chartered Bank, which held the bogus Blackstone Asia account in Singapore.

A total of RM4 billion was raised by SRC (set up as a subsidiary to 1MDB in 2011) with the first draw-down of RM2 billion of that money taking place in August of that year. It was then transferred abroad, supposedly for ‘international investments’, thereby making it harder for Malaysian investigators to trace.

However, in three short steps the following November, the money was simply transferred back into Malaysia and into Najib’s own personal bank account!

The intermediary was SRC International’s account at the Swiss bank Julius Baer’s Hong Kong branch in a transfer partially uncovered by Sarawak Report in March of this year.

$170 million was transferred from the Malaysian fund to its account at Julius Baer under the guise of funding foreign investments, Pua stated. The sum was then passed on to the bogus BVI company Blackstone Asia Real Estate Partners (identified by the US Dept of Justice as being controlled by Jho Low through his associate Eric Tan) and then on during the same month of November into Najib’s KL account.

Amounting to around half a billion ringgit in Malaysian currency, this represents a large chunk of the SRC missing money long suspected to have been almost entirely pilfered by the Prime Minister and his associates.-Sarawak Report

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