MACC’s confirmation that RM65 million in funds belonging to 1MDB was in the possession and control of Zeti Akhtar’s husband Tawfik Ayman via one of his companies is nothing more than a formal restatement of a position that had been long canvassed and clear to anyone with an eye on the 1MDB saga.


For Zeti Akhtar Aziz to attempt to deny or remain silent on the allegation now will only cement her already sullied and damaged reputation and her professional and personal integrity as a banker, a professional and a public figure.

Former Bankers involved in the saga complaining now that they were given false information or threatened by Datuk Ser Najib are weak and incredulous individuals attempting to hide behind what is fundamentally a lame excuse and an indictment on their caliber as bankers, accountants and professionals. It is late mail anyway.

“The Devil made me do it” is not an acceptable or plausible defence to charges of money laundering, theft or lying. These are not schoolboys being threatened by the schoolyard bully. These were educated professional bankers, meant to be of impeccable, impeachable character and integrity. Of their late material it appears they were far from it. Surely they knew their responsibilities and obligations that came with their office. The same obligations and responsibilities applied to Zeti.

There is a much larger conspiracy at play here behind the tsunami of allegations directed against former Prime Minister Datuk Seri Najib Razak, his wife Rosma Mansor and the Barisan Nasional, the party that ruled Malaysia since its independence in 1957.

Allegations of money laundering against Zeti as head of Bank Negara continue to more than simply linger around her in rumours. These allegations are the subject of formal, though discreet, investigations launched in the US, in Europe and in the Middle East because of the very lax and negligent rules that prevailed during Zeti’s stewardship (as head) of the Bank Negara.

In the US her role at Bank Negara (especially during and immediately prior to 9/11) has become the subject of investigation by lawyers (and investigative agencies) acting for the families of those killed in the twin towers attacks in 9/11.

There is a nexus to the flow of illicit funds to terrorist groups through UMNO Baru and few Islamic charities that found a cover of legitimacy through UMNO Baru’s patronage and the blind eye of the Bank Negara under Zeti Akhtar’s stewardship.

Evidence suggests that very large sums of money were transferred in and out of Malaysia at the time Zeti was head of Bank Negara without question inspite of ‘red flags’ popping up before her. The billions that flowed in and out of Bank Negara immediately prior to her appointment was ignored by her when she ought to have queried suspicious transactions that were tied to the Maminco, Bank Bumi and Forex scandals in Malaysia. She had a legal duty and an obligation as head of Bank Negara to review these not too insignificant transactions involving billions of dollars in foreign exchange.

These transactions in question include the several billions of dollars which moved around in and out of Malaysia for brief periods during and subsequent to Dr. Mahathir’s tenure in office as prime minister for over 20 years.


But Zeti has her backers and apologists in the USA and in some quarters of government in Malaysia at least. Her father after all, the late Professor Unku Aziz was a CIA informant (along with several prominent members of government in the 1960’s and 1970’s). (Victor Marchetti- former CIA agent -Holland in 1971). There is also much speculation about her preferential treatment at Wharton where she secured a Phd from the university of Pennsylvania.

First of her backers are the Neocons under Paul Wolfowitz, the man who first tapped Zeti along with Anwar Ibrahim to work on the Regime Change initiatives of the Soros Foundation, Open Societies, the NED and the American Democrats linked to the Clinton Global Fund. Their job was to destabilize the Mahathir regime in Malaysia.

Then there is the “Wharton club”. All of them alumni graduates of Wharton’s Business School at the University of Pennsylvania, an exclusive club of very prominent graduates of the school like Low Teik Jho, Michael Milken and a group of bankers who were prominent in the fall of Wall Street and the Global Financial Crisis of 2008.

And like Zeti these Wharton alumni are prominent not for their academic prowess but their pedigree and ability to network to the extent they could bring down the world banking system in the Global Financial Crisis in 2008 with relative impunity.

A powerful network of financial movers and shakers they are more connected to power than to their knowledge and intellect.


What Zeti really has to be more concerned about today though is the allegation she may have through willful blindness allowed or turned a blind eye to money laundering activities by religious extremist from the middle east through UMNO Baru and the Bank Negara.

These two organizations, Bank Negara and UMNO Baru are state protected organizations. The first, Bank Negara which assisted UMNO Baru to divert and to launder funds that were supposedly ‘donations’ to charitable purposes in the middle east that the US has evidence were diverted to two high profile terrorist attacks against US targets. These being the attacks on the twin towers on 11 September 2001 and the other the attack on the USS Cole that preceded it.

Back to what Zeti knew at Bank Negara. It is now becoming clearer that Zeti knew of the transfers of large sums of money from not only 1MDB to Datuk Seri Najib’s bank accounts long before it became controversial in Malaysia, but also of billions of dollars in large questionable outflows of capital after the Asian currency crisis.

It was a series of events that Bank Negara (and therefore she) and perhaps even the Singapore authorities should have queried but did not. Zeti turned a blind eye to all of it. Singapore’s collusion with the Regime Change initiative in south east Asia is now being questioned by some ASEAN leaders.

The Department of Justice in the US (DoJ), in particular Loretta Lynch, was in touch with Zeti through third parties not only tracking but perhaps also conspiring with her and others to set up Datuk Seri Najib and to implicate him in a scandal of their making.


Zeti’s silence thus far has only assisted in implicating her more deeply in what appears to be a criminal conspiracy and a seditious one at that directed against not just Datuk Seri Najib Razak but also the Malaysian government.

With the revelation that her husband Tawfiq Ayman was in possession of a not insignificant portion of the 1MDB money, her culpability in the 1MDB conspiracy cannot be washed away or ignored through her silence or a wall of lawyers defending her misconduct.

Zeti will either have to come clean and answer honestly before a court, her willful silence and refusal to make voluntary disclosure during the trial and by that misleading the court in the 1MDB matter or go to jail for contempt and perjury. By her silence she may well have also committed the offence of perjury.

If the government and the courts refuse a motion now for a mistrial in the 1MDB matter against Najib Razak with the benefit of the MACC evidence, the integrity of the courts in Malaysia already damaged by reputation will suffer even further.

The government, it is said has no credibility left anyway. But the courts must act independently given the opportunity they now have with the MACC revelation to redeem themselves.

The courts must be seen to be independent of government. But will they stand up for themselves and be true to their creed?

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