Most Read
Most Commented
Read more like this
mk-logo
News
Tommy Thomas – a logical choice to take on the 1MDB scandal

COMMENT | The talk of the town the past few days has been about Tommy Thomas, the advocate and solicitor widely reported as being the unanimous choice of Pakatan Harapan for the post of attorney-general, to replace Apandi Ali.

Many have voiced support for Thomas, but there are also those who do not agree with the government’s choice. Those who disagree offered many reasons why he should not be the AG and while some arguments may be valid, most do not seem to be grounded in reason.

But what we all can agree on is that one of the most important tasks for the new AG to undertake is to resolve the 1MDB scandal, which includes prosecuting those responsible and to recover as much money as possible to be used for the benefit of Malaysians.

What we know so far, from several years of reporting by the Wall Street Journal, the Edge, Sarawak Report and others, is that the 1MDB scandal is fiendishly complicated. 1MDB appears to have received several billion US dollars from issuing bonds backed by the Malaysian government’s guarantees of repayment.

Sophisticated international financial institutions such as Goldman Sachs are reported to have been involved in 1MDB’s bond issuances. We also know that the money received by 1MDB from issuing these bonds was funnelled through a complex and opaque web of companies in notorious tax havens like the British Virgin Islands and the Cayman Islands.

Some of this money was used to purchase artwork, jewellery, luxury properties and yachts in the US and Europe, and even to finance several Hollywood movies.

But where is the ... 

Unlocking Article
Unlocking Article
View Comments
ADS