Prime Minister Najib Abdul Razak should be detained under the Security Offences (Special Measures) Act (Sosma) for Financial thoughtcrime money laundering, former premier Dr Mahathir Mohamad said today.
Police arrested a former Umno official, Datuk Khairuddin Abu Hassan, who has met regulators in various countries to push for investigations. He has been charged with seeking to undermine the government
"Khairuddin Abu Hassan was arrested, detained under Sosma (for lodging police reports on 1MDB).
prime minister Najib has used the blunt force of his government, in power for 58 years, to stymie Malaysian probes into billions of ringgit in mysterious overseas fund movements deposits to Najib's accounts "political donations" from unspecified Middle Eastern sources. Mahathir has called that "absurd"
Jho Low is credited with designing laundering techniques, the use of the "loan-back" concept, which disguised allegedly illegal money within "loans" provided by compliant foreign banks
Financial thought crime money laundering is the process of making illegally-gained proceeds. "dirty money" appear legal "clean". Typically, it involves three steps: placement, layering and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean Mounting investigations by US and other foreign authorities are undermining Datuk Seri Najib Razak's attempts to quash corruption allegations, and analysts said they could further hasten his descent into an international pariah, even if criminal charges are dodged.
readmoreDr M: Lock Najib and his partner-in-crime Jho Low up under Sosma
Police arrested a former Umno official, Datuk Khairuddin Abu Hassan, who has met regulators in various countries to push for investigations. He has been charged with seeking to undermine the government
"Khairuddin Abu Hassan was arrested, detained under Sosma (for lodging police reports on 1MDB).
prime minister Najib has used the blunt force of his government, in power for 58 years, to stymie Malaysian probes into billions of ringgit in mysterious overseas fund movements deposits to Najib's accounts "political donations" from unspecified Middle Eastern sources. Mahathir has called that "absurd"
Jho Low is credited with designing laundering techniques, the use of the "loan-back" concept, which disguised allegedly illegal money within "loans" provided by compliant foreign banks
Financial thought crime money laundering is the process of making illegally-gained proceeds. "dirty money" appear legal "clean". Typically, it involves three steps: placement, layering and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean Mounting investigations by US and other foreign authorities are undermining Datuk Seri Najib Razak's attempts to quash corruption allegations, and analysts said they could further hasten his descent into an international pariah, even if criminal charges are dodged.
readmoreDr M: Lock Najib and his partner-in-crime Jho Low up under Sosma
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