‘More worrying’ if Umno funds held by proxies instead of Najib, Abdul Rahman says

KUALA LUMPUR, Aug 4 ― It is much better for Umno president Datuk Seri Najib Razak to hold the party's money and assets in a trust account as it is more secure than having the funds parked under proxies, Datuk Abdul Rahman Dahlan said today.

The Umno supreme council member and Barisan Nasional (BN) strategic communications director claimed that Umno's assets and funds used to be held by proxies in the past during Tun Dr Mahathir Mohamad's time as Umno chief.

“Even when Tun Dr Mahathir Mohamad resigned as Umno president, he had to look for the proxies to reclaim a lot of Umno's assets and shares. The money (then) was parked under proxies.

“I would be a lot more worried if these individuals were holding the accounts instead of the president,” he said during an interview with TV1 tonight.

The Umno minister has maintained that the party’s constitution allows its president to maintain a personal account on behalf of Umno and that previous presidents also did so, amid claims that RM2.6 billion had been deposited into Najib’s personal accounts.

“Najib has to source for funds to finance activities in (Pakatan Rakyat) states like Selangor...the Umno president has to bear the costs of political funding in four states,” the Kota Belud MP said, likely referring to PR-controlled states Penang, Kelantan, Selangor and Kedah back before the 13th general election.

“There are some who donate sincerely for the party's case, so there should not be anything wrong with that. What is important is that the money was not stolen from the people,” Abdul Rahman stressed.

The Malaysian Anti-Corruption Commission (MACC) confirmed yesterday that RM2.6 billion had been deposited into Najib’s accounts, but said the funds came from “donors” and not 1MDB as previously alleged.

In a statement to announce its findings, the MACC did not, however, disclose the identities of these donors or the purpose of the contribution, as well as how the money was spent.

MACC, along with the police and Bank Negara Malaysia make up the special task force investigating allegations on 1MDB’s cash flow, which sits on a debt of RM42 billion.