Nazir Razak to assist MACC in recovering 1MDB funds

Former CIMB chairman Datuk Seri Nazir Razak said today he will be assisting the MACC to recover 1MDB funds. — Reuters pic
Former CIMB chairman Datuk Seri Nazir Razak said today he will be assisting the MACC to recover 1MDB funds. — Reuters pic

KUALA LUMPUR, Oct 8 — Former CIMB chairman Datuk Seri Nazir Razak said today he will be assisting the Malaysian Anti Corruption Commission (MACC) to recover 1MDB funds that were channelled through his bank account.

In a statement today, Nazir, who is also the brother of former prime minister Datuk Seri Najib Razak, denied taking a single sen from the RM25.7 million transferred into his account.

“I have been a vocal and frequent critic of 1MDB, and the idea that the funds that flowed through the account may have originated from 1MDB has been gut wrenching for me.

“I intend to engage with the MACC to resolve this matter. I fully respect the work that they are doing to recover 1MDB funds, and will assist as best as I can,” he said.

He explained that the money that he received in 2013 were subsequently disbursed “in cash and in full” to his brother’s representatives for what he understood as election campaign purposes.

Furthermore, Najib had led Nazir to believe that the funds used for the 13th General Election came from legitimate political fund-raising with the latter having no reason to disbelieve Najib.

“When the alleged links between 1MDB and Najib’s fund transfer surfaced in the media in April 2016, I took voluntary leave from my positions at CIMB in order for the boards of CIMB Group and CIMB Bank to conduct a full review of what transpired.

“They did so with the help of an accounting firm and a legal firm. I was subsequently cleared and invited back to the board,” said Nazir.

The MACC has a recovery plan for funds totalling RM420 million from 80 persons or entities who had received more than RM500,000 in alleged 1MDB funds.

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