Nazir's statement on MACC recovery plan for RM420m from 80 persons, entities

KUALA LUMPUR (Oct 8): The following is a statement by Datuk Seri Nazir Razak (pictured):

I refer to media reports about the MACC recovery plan for funds totalling RM420m from 80 persons and entities who received more than RM 500,000 in alleged 1MDB monies.

As I have previously confirmed, Dato Sri Najib transferred a total of RM25.7m to an account in my name in 2013. The funds were subsequently disbursed in cash and in full to Najib’s representatives for what I understood were election campaign purposes — not a sen was retained or used by me. I acted in good faith in order to oblige my brother’s request for assistance in the GE13 campaign, and back then, I was informed that the funds originated from legitimate political fund-raising and had no reason to think otherwise.

When the alleged links between 1MDB and Najib’s fund transfer surfaced in the media in April 2016, I took voluntary leave from my positions at CIMB in order for the boards of CIMB Group and CIMB Bank to conduct a full review of what transpired. They did so with the help of an accounting firm and a legal firm. I was subsequently cleared and invited back to the board.

I have been a vocal and frequent critic of 1MDB, and the idea that the funds that flowed through the account may have originated from 1MDB has been gut wrenching for me.

I intend to engage with the MACC to resolve this matter. I fully respect the work that they are doing to recover 1MDB funds, and will assist as best as I can.

Nazir Razak

8th October 2019

Click here for more property stories.