Pakatan’s scandal in 1MDB money recovery: Analyst

Real Politik Asia commented on the news that Malaysia’s attempts at recovering assets stolen from 1MDB has run into further delay.

News Malaysia Today says a dispute among partners at the law firm put in charge of the exercise, Lee Hishamuddin AllanGledhiil is the result of this delay.

it is questionable that Tony Pua is overseeing the exercise, rather than the Attorney-General Tommy Thomas.

Pua is the Political Secretary to the Minister for Finance Lim Guan Eng. There is a conflict of interest, suggests the blog.

Ganesh Sahathevan, the blog writer, says the Lee Hishamuddin problem raises further questions about Pua’s handling of the asset recovery.

His choice of PwC and KPMG is in itself plagued by conflicts of interest.
In addition, PwC ‘s history in Malaysia suggests that it was always going to be the wrong choice.

The blogger reminded readers of the history between the PwC and 1MDB.

  1. The Southern Bank takeover suggests PwC does not have the skills for this job; saying this is another conflict of interest issue.
  2. That LeeHishamuddin had to be hired in addition to PwC (whose fees for services are not cheap) suggests the 1MDB asset recovery exercise is scandalous.
  3. Adding to all this is the information that foreign firms have been hired to assist in the recovery.
  4. Why this was required when PwC has been assigned the job is intriguing, to say the least.
  5. Readers are reminded the US DOJ has already done a considerable amount of work in tracing the cashflows and recovering some of the assets.

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