Friday, June 21, 2019

1MDB: A MACC asset recovery taskforce has been formed,almost a year late:PwC and all others should now be sacked

by Ganesh Sahathevan

PwC chairman Faiz Azmi and team never had the capacityfor a job like 1MDB

What should have happened the day after the new government in Malaysia took office has finally occurred:

A special taskforce will be formed to recover assets related to 1Malaysia Development Bhd (1MDB) abroad, believed to be in the region of US$5bil, says the anti-graft agency.
Malaysian Anti-Corruption Commission deputy chief commissioner (operations) Datuk Seri Azam Baki said the taskforce would be led by the National Financial Crime Centre.
"There are many more assets which we want to recover, including in the United States, United Kingdom and Hong Kong.
"We are in the midst of forming this special team to cover the outstanding assets," he said to reporters on Friday (June 21).

Government agencies with all the powers and infrastructure available to the Prime Minister's Department ought to have been tasked to recover the 1MDB assets the day after the Najib administration lost power. They were not, and instead  ill equipped and poorly skilled professional firms like PriceWaterhouseCoopers  Malaysiia and others were hired.They have not had much to show despite being appointed almost a year ago, and despite  the United States Department Of Justice  having done most of the work of discovery,and seizure,  in the three or so years prior.
PwC and others should be sacked with immediate effect.Their fees should be subject to a rigorous audit by the National Audit Office.


See also 

More ways in which PM Mahathir could look for 1MDB money,and why the job cannot be left to PwCand Tony Pua

PwC is Goldman Sachs' auditor; ;PwC appointed by the Malaysian Govt to examine Goldman Sachs 1MDB transactions

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