ILLICIT FINANCIAL OUTFLOWS ALLEGATIONS – WELL DONE PETRONAS!

‘I am overjoyed that Petronas is pursuing its legal remedies against those responsible for this report, and intends to take all other appropriate steps to protect itself against any further publication of this false statement.

Malaysia’s dignity and image depends on this and I continue to support Petronas in its legal proceedings to clear its reputation and image from political and international scoundrels and shenanigans!

I cannot wait for the proceedings to begin and will be monitoring this very eagerly and great passion!’ – Dr Jacob George

ILLICIT FINANCIAL OUTFLOWS ALLEGATIONS – WELL DONE PETRONAS!

Basically, the issue of “illicit financial flows” is not a new phenomenon!

It is practiced by dictator politicians the world over who have abused and sacrificed all holistic governance, ethics, fair play, accountability, justice and to hide their illegal gains and facilitate the movement of such funds through cross-border transfer of money!

In some countries it is the transfer of monies earned through high powered institutionalized corruption, criminal activities, trade manipulated pricing, drug and human trafficking, sex trade, money laundering and transactions involving contraband goods as also tax evasion on legitimate income or profits.

Since Malaysia is on the radar in view of the Global Financial Integrity (GFI) report and there are allegations contained therein that Malaysia’s illicit fund outflows reached US$291 billion (RM888 billion) for the period from 2000 to 2008 is alarming and need answers and not stupid irresponsible denials!

We have moved beyond denials and the master stroke of friendly bloggers and spin masters both local and foreign!

The fact is economic models cannot capture outflows of illicit funds which were generated in unrecorded cash transactions such as these!

So it is stupid for young untested and inexperienced politicians to deny or claim these statements as ‘bizarre’ instead of addressing the allegations in a professional and equitable manner expected by the terms and reference of corporate governance!

If not one can be accused of being fearful of being implicated as a conduit in these transactions or worst initiating a cover up when the horses have bolted from captivity!

Malaysian of today are not gullible neither stupid, a fact that many continue to ignore thinking the manipulation of facts and figures thanks to spin masters is the answer!

More so in the wake of allegations and gossips in the international gossip chatter that today politicians the world over are trying to move their ill gotten gains around which includes China, India and South American countries!

The joke I heard is that a former politician recently got screwed when his proxy for millions in both cash and properties in India died and the new beneficiary told the former to ‘piss off!’

We must learn lessons from what is happening in West Asia and make the rightful proactive changes before it is too late!

In that sense I am glad that Malaysia’s Petronas has issued a statement that they are aware of recent press articles that repeat a false statement made in a report by a Washington-based policy group that purported to link Petronas to illegal outflows of capital from Malaysia.

That the said statement is completely false.

That indeed, on its face, it is based upon a misquotation of a prior news article that the report cites as support for this statement.

I am overjoyed that Petronas is pursuing its legal remedies against those responsible for this report, and intends to take all other appropriate steps to protect itself against any further publication of this false statement.

Malaysia’s dignity and image depends on this and I continue to support Petronas in its legal proceedings to clear its reputation and image from political and international scoundrels and shenanigans!

Well done Petronas!

I cannot wait for the proceedings to begin and will be monitoring this very eagerly and great passion!

I am sure this matter will be coming up in Parliament in the next sitting thus I would encourage Petronas to immediately initiate legal remedies so that public perception and support will be at their corner!

This legal proceeding against those behind such a heinous act against Petronas should not be tolerated and all Malaysians stand by your side to clear your name!

It is as I always say public perceptions – a barometer of public interest!

More so, because till today none of Petronas accounts have been presented to Parliament for a comprehensive and exhaustive accounting by a select committee comprising of bipartisan politicians or politicians from both political divides in the Malaysian public interest!

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