by Ganesh Sahathevan
It is important to remember that bankers do not simply transfer the monies of a sovereign wealth fund on the say so of "friends and family". Duly notarized authorization from its board, if not the persons actually in control of the fund are required for these types of transactions.
Yet according to Singapore prosecutors this is exactly what Jho Low managed to do in transferring billions in the name of 1MDB and its former subsidiary SRC.
It is therefore important therefore to recall the words of the former Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah
“1MDB is under the purview of the Finance Ministry. So the ministry must be responsible. That responsibility is then brought to the Cabinet to get their endorsement to what 1MDB is doing......"