Irwan Serigar arrives at MACC for questioning on 1MDB

PUTRAJAYA (Oct 24): Former treasury secretary general Tan Sri Mohd Irwan Serigar Abdullah has arrived at the Malaysian Anti-Corruption Commission (MACC) for questioning over dealings between troubled state-owned fund 1MDB and Abu Dhabi’s sovereign wealth fund International Petroleum Investment Co (IPIC).

Irwan, who was also 1MDB chairman previously, arrived at the anti graft agency’s headquarters here at 3.26pm, ahead of his scheduled questioning session of 3.30pm, according to  MACC.

Irwan was summoned to MACC alongside former prime minister Datuk Seri Najib Razak, who arrived slightly before 2pm. At press time, Najib was still in the premise to have his statements taken. 

Bernama reported on Tuesday saying Irwan and Najib will be facing charges on 1MDB-IPIC dealings today (Oct 24). 

Media reports said Najib will face six charges on the matter, whereas it is unclear as to whether Irwan will be jointly charged with the former premier or otherwise.

Najib, who served as chairman of 1MDB board of advisors, is currently facing 32 charges at the Malaysian courts over 1MDB-related funds, including RM2.3 billion allegedly sourced from the organisation into his own personal account and RM42 million from 1MDB’s former unit SRC International Sdn Bhd. 

Irwan served as 1MDB chairman between May 2017 and May 2018, before resigning shortly after Barisan Nasional lost federal power in the 14th General Election that same month. 

Concurrently, his tenure as treasury secretary-general was also cut short to June 14 this year, from March 6, 2019. He was also moved from the Treasury Department to the Public Service Department.

IPIC and 1MDB previously signed a settlement agreement which entails 1MDB to repay US$1.2 billion owed to 1MDB, while removing IPIC as a co-guarantor for two 1MDB bonds totalling US$3.5 billion. 

The two funds were in dispute with regards to a missing sum of US$3.5 billion meant to be transferred from 1MDB to IPIC in relation to the bonds. 

1MDB transferred the sum to Aabar BVI under the assumption it is a unit of IPIC. IPIC later claimed that Aabar BVI is not its subsidiary, although it shares part of the name with the original IPIC unit. — theedgemarkets.com

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