Tuesday, December 10, 2019

Najib sues AMBaink,action against ANZ .Gonski and co must follow

by Ganesh Sahathevan

Deafening Silence Out Of Australia Over 1MDB's Connection To Top Bank ANZ

 Deafening Silence Out Of Australia Over 1MDB's 

The Edge has reported:

Najib is suing (AMBank) and AmBank Islamic, as well as former AmBank relationship manager Joanna Yu Ging Ping, over what he claimed were the dealings that were undertaken via his accounts which ended with the numbers 694, 880, 898 and 906, without his knowledge or consent.
These accounts were alleged to have been used to divert funds from SRC International Sdn Bhd, where Najib is facing graft and power abuse charges for the siphoning off of RM42 million from the former 1MDB subsidiary.
In the court document filed and sighted by theedgemarkets, Najib claimed the defendants had breached their duties and were negligent in the affairs relating to the accounts, as the parties had liaised with fugitive businessman Low Taek Jho or Jho Low, an unauthorised third party.

This writer noted more than three years ago that Najib had even then started pointing the finger of blame for the 1MDB theft at his bankers, the ANZ managed AMBank. It is now even harder to see how ANZ and its directors, led by chairman David Gonski,are going to escape liability for the multibillion dollar loss that is 1MDB.



In his defence,Najib pointed the finger at AMBank, ANZ, Gonski & co. 

by Ganesh Sahathevan

Readers were reminded yesterday that in October last year Malaysia's
Ministry of Finance' said the  transfer of US$11.95 million from its SRC BSI accounts was authorized at the highest level. Singapore prosecutors have since provided evidence that the transfer was fraudulent, 

The transfer is of interest to parties investigating the movement of funds into Malaysian PM and Finance Minister Najib Razak's AMBank/ANZ accounts for some of those funds are believed to be from SRC. The Sarawak Report investigative news site first broke the story and explained the flow of funds with this diagram

These transfers are the subject matter of a defamation action brought by PM Najib against veteran Malaysian politician Ling Liong Sik.In one of the related affidavits Najib swore that while the funds were transferred to his account , he was unaware of its origin. 
Najib was in effect claiming that his bank, AMBank, mamanged by ANZ, and reporting in part to the ANZ board led by David Gonski, failed in its duty under Malaysian and Australian AML/CTF laws to ascertain the origin of those funds and advice him accordingly. 

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