For example, alleged 1MDB linchpin Jho Low remains AWOL, the Malaysian businessman who made a splash in New York circles with a loose pocketbook successfully blocked the impounding of his superyacht recently.
In Switzerland, where the attorney general is investigating the scandal, the probe has also stalled – because of Malaysia's refusal thus far to cooperate. Without a victim, there is no crime, goes the oft-quoted thinking. The election of Mahathir, who promised to «squeeze» 1MDB money from Najib and associates, blows the case open again.
Book of Hope
In March Mahatir’s coalition issued a 60-point election manifesto, dubbed as «Buku Harapan» (Book of Hope). Among a list of ten actions it promised to undertake in the first 100 days, if elected, included the setting up of a Royal Commissions of inquiry into scandal-ridden institutions, including 1MDB .
The matter is of utmost political delicacy, and Najib, who was effectively identified as «Malaysian Official Number-One» by U.S. prosecutors, has much to lose.
A Face-saving Deal?
He and his family allegedly pocketed millions which was then used for election campaigning, film production, and diamonds for First Lady Rosmah Mansor.
Mahathir, who was PM from 1981 to 2003, only surfaced from retirement because of an opposition in tatters. Najib is his former protege; the two may well reach a backroom barter over the future handling of the 1MDB scandal that allows both to save face.
Impetus to Investigation
The result leaves many unanswered questions, but gives impetus to a two-year-long investigation spearheaded by American prosecutors and spanning several countries including Switzerland, Singapore, and Luxembourg.
- << Back
- Page 2 of 2
