Pua urges MoF to focus on claims against former 1MDB auditors after settlement with AmBank

KUALA LUMPUR (March 1): DAP’s Tony Pua has lauded the Ministry of Finance (MoF) for completing the RM2.83 billion settlement with AmBank Bhd over its culpability in the 1Malaysia Development Bhd (1MDB) corruption scandal.

However, he urged the ministry to now focus on the claims against the former 1MDB auditors, KPMG and Deloitte Malaysia.

In a statement today, the DAP National Publicity Secretary and Member of Parliament for Petaling Jaya Utara said MoF must now ensure similar resolutions for 1MDB auditors, KPMG and Deloitte, whether through the courts or settlements.

Pua urged the MoF not to give any quarters in its negotiations with Deloitte and KPMG.

“If they have demonstrated no remorse for their culpability in the tens of billions of ringgit for the Malaysian tax-payers, MoF, via 1MDB, must immediately file the relevant suits, which have been fully prepared, against them in the courts,” he said.

Pua added that he was heartened the efforts to reclaim the loss of funds by the government as a result of the 1MDB scandal which started under the Pakatan Harapan administration are now bearing fruits.

“The Ministry of Finance have previously engaged lawyers and accountants to prepare comprehensive claims against all parties who have been directly or indirectly culpable for the tens of billions of ringgit lost and misappropriated by former prime minister Datuk Seri Najib Razak and his associates via 1MDB,” he said.

He said these claim documents were completed in the final weeks before the formation of the new Perikatan Nasional government.

“I must also express my appreciation to the senior management of AmBank Bhd for their steadfast cooperation on this matter during our time in administration. 

“The new management of AmBank had made no attempts to deny their culpability and were eager to make amends to move forward.

“I believe that the settlement of RM2.83 billion, which amounted to nearly 30% of the bank’s market capitalisation, is a fair sum, given the level of cooperation provided to the government,” he said.

Commenting on the claims against the former 1MDB auditors, KPMG and Deloitte Malaysia, Pua said like the AmBank case, the claim documents against both entities were completed by professionals more than a year ago.

“However, unlike the degree of forthcoming cooperation shown by AmBank, these ‘international’ auditors have failed to demonstrate any remorse and have refused to acknowledge any degree of culpability in the RM50 billion scandal despite clear evidence of their failure to carry out their audit responsibilities in a competent and diligent manner,” he said.

“In fact, I have personally filed complaints against both KPMG and Deloitte as well as their respective partners Ahmad Nasri Abdul Wahab and Ng Yee Hong, in March and June 2015 respectively with the Malaysian Institute of Accountants (MIA) for the filing of fraudulent 1MDB annual financial statements,” he said.

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