In an opinion piece on the current scandal gripping Malaysia, the business daily said that while 1MDB could allow investigations into the firm to take their course, Najib does not have the luxury of waiting for — as he last night proclaimed — “the truth to emerge in the end”.
“More than any other high office in the country, it is the top executive who owes his duty and loyalty — and the truth — to the Malaysian people.
“Unlike troubled 1Malaysia Development Bhd and the characters at the centre of the controversy who are not answerable to the people and whose fate lies squarely on the outcome of an ongoing probe, Mr Najib should be held to a higher standard,” said the Business Times.
The paper pointed out that it was almost a week since the Wall Street Journal first published a report claiming of a money trail showing the movement of US$700 million (RM2.6 billion) from 1MDB to Najib’s personal accounts.
No clear and direct denial has been made to the specific claims made in the US paper.
Instead, the denials that first came from the Prime Minister’s Office and, later, Najib himself were that he did not take the money for “personal gain”.
“To the exasperation of decent folk, that does not adequately clear the air on the allegations in WSJ's report,” the BT continued.
It further cautioned the Malaysian Cabinet that it was underestimating the gravity of the scandal now surrounding Najib when it decided to back the prime minister, saying that this conveyed to the public that the interests of the ruling elite will always come before that of Malaysians.
While Najib is likely to survive the current 1MDB storm, a failure to fully and satisfactorily refute the allegations against him will see the scandal hang over his head, just as the 2006 murder of Altantuya Shaariibuu continues to linger despite repeated denials, oaths and the death sentences for her two killers.
“Otherwise, come the 2018 elections, it could reignite and sting the long-ruling Barisan Nasional.”
In a report last Friday, the WSJ claimed that a money trail showed that US$700 million was moved between government agencies, banks and companies before it ended up in Najib's personal accounts.
A special taskforce comprising the Attorney-General’s Chambers, Bank Negara Malaysia, the Royal Malaysian Police and the Malaysian Anti-Corruption Commission are investigating 1MDB and the claim made by the WSJ.
The high-powered investigation this week froze six bank accounts and seized 17 documents over the alleged money trail, but later said that none of these were linked to Najib.
Najib has denied taking funds from 1MDB for “personal gain” and his lawyers have since asked the WSJ to state if the newspaper is accusing the prime minister of misappropriating funds.
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