Malaysia probes claim China offered to bail out 1MDB

Malaysia probes claim China offered to bail out 1MDB

Malaysia probes claim China offered to bail out 1MDB

China also offered to bug the homes and offices of Wall Street Journal reporters in Hong Kong who were investigating 1MDB, to learn who was leaking information to them, the Journal said, citing the minutes of the meetings.

Ng has been detained in Kuala Lumpur since November 1, shortly after the U.S. Department of Justice announced charges against him, another Goldman Sachs official Tim Leissner, and Malaysian financier Low Taek Jho over the alleged theft of billions of dollars from 1Malaysia Development Berhad (1MDB). It has been reported that in return of the favor, Malaysians are eager enough to offer stakes in railway and pipeline projects supporting OBOR.

The journalists reviewed minutes from meetings between Chinese and Malaysian officials that had not been disclosed before.

Najib is said to have offered the Chinese leadership, also, that ships of war may, in the future, calling at two Malaysian ports. These plans did not push through, but they would have meant a great deal to China's ambitions over the waters in the South China Sea.

Former government representatives Prime Minister Najib Razak (third left), Transport Minister Liow Tiong Lai (third right), Finance Minister II Johari Abdul Ghani (second right) and Minister in the Prime Minister's Department Abdul Rahman Dahlan (first right) attend the groundbreaking ceremony of the ECRL in Kuantan on August 9, 2017.

Besides the cancelled China-backed projects, he pointed out that China's tighter currency control measures had also made it extremely hard for capital to leave China and be invested in Malaysia. However, since China posits that its Belt and Road projects are intended for mutually beneficial development, its Foreign Ministry denies that the money involved in the projects were involved in bailing out 1MDB.

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In a statement issued on his Facebook page late on Tuesday, Najib said China had never offered to bail out 1MDB and he defended the cost of infrastructure projects awarded to China.

Najib's successor, Dr. Mahathir Mohammad, has put a halt to these projects, and Najib is now facing multiple charges of corruption, money laundering, and others.

Najib has been arrested and charged over the scandal since being ejected from office. "The other, the $2.5 billion Trans Sabah Gas Pipeline, would be built partly on Malaysia's portion of the island of Borneo".

"Two months later, Najib went to Beijing and signed the deals".

Prime Minister Tun Dr Mahathir Mohamad shakes hands with China's Premier Li Keqiang at the end of a news conference at the Great Hall of the People in Beijing August 20, 2018. Several of the projects from that time are now idle.

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