1MDB settlement: Don’t stop at refunds, throw the book at perpetrators too!

THE Government should seek to retrieve monies and punish all those involved in the 1Malaysia Development Board (1MDB) mega-corruption scandal to set an example to all.

“It’s good that the Government is getting back some of the money we have lost because of the 1MDB scandal.

“But this should not be the end of it. We want KPMG and the other accounting firms to help uncover who the go-betweens were as well,” Parti Sosialis Malaysia (PSM) chairperson Dr Jeyakumar Devaraj told FocusM.

Recently, the Government agreed to a RM2.38 bil settlement with AmBank Bhd, over the latter’s link in the 1MDB corruption scandal.

Praising the move, DAP MP Tony Pua had urged the Government to also focus its claims against 1MDB’s former auditors, KPMG and Deloitte PLT.

Set an example to all

The Finance Ministry (MOF) later announced that it is negotiating a settlement with audit firm, KPMG, following a settlement with another audit company, Deloitte PLT, which has agreed to cough up US$80 mil (RM324 mil) to the Government.

KPMG was involved with 1MDB after Ernst & Young’s (EY) services was terminated as 1MDB’s auditor in early 2010. KPMG then took over in September the same year.

KPMG’s service was also terminated years later as it refused to sign off 1MDB’s account for FY13 and was replaced by Deloitte until 2016.

Touching on the matter, Jeyakumar said that despite the settlements made, the Government should not leave those behind the corruption scandal off the hook.

“Don’t plant the idea where you steal and if get caught, return 10% of the loot and case closed. Such a thing will send a wrong message to the public.

“Those who broke the law must be identified and charged. Otherwise, the plundering spree will never end,” the former Sungai Siput MP remarked. – March 6, 2021.

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