SCwatch


RM40 MILLION CASH CONFISCATED : IF IT IS NOT ‘DIRTY MONEY’, WHY WAS IT BEING “SECRETLY CHANNELED” INTO MALAYSIA?

It certainly is intriguing.

A case investigated on by Hongkong’s anti corruption agency….as the perpetrator was caught on its soil…..and traced back to Sabah!

And now, the Malaysian UMNO led government says,”Oh, it’s nothing……a RM40 million political contribution from some unknown individual!!

And as always, it is now expected to be swept under the carpet?

Hey, isn’t this smack on to money laundering?

Hasn’t the central bank, Bank Negara Malaysia (which oversees Money Laundering activities) got something official to say about this?

The key question is this: If everything is proper and above board, why was the money being surreptitiously delivered from one country to another?

It’s understandable for people to carry cash, but RM40 million?

Has it been taxed……i.e. besides alleged money laundering, is there also an element of tax evasion?

If you can recall, when this RM40 million case first surfaced in the media, besides the courier (Michael Chia) who was caught, the other individuals mentioned included Andrew Lim and Richard Christopher Barnes.

These people are all directly or indirectly. Involved in the timber trade that goes back to the days of the Joseph Pairin Kitingan days when he was the Chief Minister of Sabah.

As we all know, like in most of Malaysia, it is the prerogative of the Chief Minister to hand out the ‘goodies’…..and in Sabah, it’s the timber concessions that are most coveted!

So as they say, “I scratch your back, you scratch mine!”

And the rest is history.

So what is wrong with it, you might ask. That’s the way it is in most places in the Far East.

Maybe,  but when these transactions take place at a pace that tantamount to obscene stripping of government assets in consideration for pittance……you’ve got a problem!

Imagine, an entrepreneur offering government officials RM200m ‘contribution’ to their political party and in return the government alienates a parcel of concession land to a joint venture company majority held by the entrepreneur with a small 15% stake held by some distant relative of some official.

If one is to then value that concession in terms of revenue that can be earned from the timber extracted, it could amount to billions of Ringgit!!

And that is where further contributions need to be made to ‘political parties’.

And maybe, just maybe poor Michael was making one of those contribution ‘runs’ before he was caught ‘with his pants down’!

Click HERE for my earlier take on the ‘Sabah Cronies’ being exposed by Hongkong’s ICAC.


Leave a Comment so far
Leave a comment



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: