Quite soon after our Majlis Raja-Raja Melayu issued a statement on the 1MDB on 6th October 2015, the Attorney General Chambers issued a statement of their own on 8th October 2015:
AGC: No offence by 1MDB in Bank Negara probe
BNM recommends criminal prosecution against 1MDB
AGC: No offence by 1MDB in Bank Negara probe
PETALING JAYA: The Attorney General's Chambers (AGC) has decided that no offence was committed by 1Malaysia Development Berhad (1MDB) based on an investigation paper (IP) by Bank Negara and no further action should be taken.
The AGC said Bank Negara's investigation into 1MDB was focused on an offence under paragraph (4)(b) of Part 1 of the Fifth Schedule to the Exchange Control Act 1953 for recklessly making a statement which is false in a material particular.
"The investigation paper was submitted to the AGC on Aug 21 2015. Having studied the investigation paper, Deputy Solicitor 1 Datuk Tun Abdul Majid Tun Hamzah decided that there was no offence committed by 1MDB officials and directed that no further action should be taken," said the AGC in a statement on Thursday.
The AGC added that the IP was returned to Bank Negara on Sept 11.
"However, on Oct 1, Bank Negara sent a letter of request to the AGC to have the decision reviewed. Having considered the request and the fact that there was no new evidence made available, the Attorney General decided to maintain the decision made earlier.
"What has been in the news concerning the Investigation Paper being with the AGC and that discussions were ongoing is inaccurate and not true," said the AGC.
Read more here.
So the AGC said they have decided that no offence was committed by 1MDB BASED on IP by Bank Negara...and so no further actionlah.
However, Bank Negara Malaysia today 9 September 2015 came out with this statement:
THE Attorney General's decision with respect to the investigations on 1Malaysia Development Berhad (1MDB) relates to Bank Negara Malaysia's recommendation to initiate criminal prosecution against 1MDB for breaches under the Exchange Control Act 1953 (ECA). It is to be noted that under the Federal Constitution, the decision to initiate criminal prosecution lies solely with the Attorney General.
As an investigative authority, the Bank is duty bound to conduct its investigations with the highest professional care and diligence. The Bank at all times expects full and accurate disclosure of information by applicants in considering any application under the ECA. On its part, the Bank concluded that permissions required under the ECA for 1MDB's investments abroad were obtained based on inaccurate or without complete disclosure of material information relevant to the Bank's assessment of 1MDB's applications.
Therefore, the Bank has revoked three permissions granted to 1MDB under the ECA for investments abroad totalling USD1.83 billion and also issued a direction under the Financial Services Act 2013 to 1MDB to repatriate the amount of USD1.83 billion to Malaysia and submit a plan to the Bank for this purpose.
The Bank will continue to extend its full cooperation to ongoing investigations by the Royal Malaysia Police and the Malaysia Anti-Corruption Commission.
Bank Negara Malaysia
Oct 9, 2015
Looks like the AG needs to respond to BNM and to explain to us Malaysian also why he did not want to prosecute based on evidence presented to him by the BNM, noting that BNM had said their investigation are of the 'highest professional care and diligence'.
read also:
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