Finance Twitter : Unable to persuade UMNO president Ahmad Zahid Hamidi to ditch 10th Prime Minister Anwar Ibrahim, Opposition Perikatan Nasional had tried – and failed – to topple Zahid during the internal party election last month.
With most of Zahid loyalists controlling the United Malays National Organization (UMNO), the Unity Government appears unshakable.
About a week ago, former PM Muhyiddin Yassin’s effort to unfreeze his party’s accounts in CIMB and Ambank was torpedoed when Bersatu (Malaysian United Indigenous Party) accounts have been seized entirely. The move to freeze the accounts on January 12 and 13 under Section 44 of anti-money laundering and anti-terrorism financing was only valid for 90 days.
However, effective April 11, the Malaysian Anti-Corruption Commission (MACC) confirmed that the frozen accounts have been seized. Following four counts of abuse of power and two counts of money laundering slapped on Muhyiddin on March 10, the Section 50 instead of Section 44 goes into effect. In short, Bersatu is screwed because it will not be able to access its money.
Unable to persuade UMNO president Ahmad Zahid Hamidi to ditch 10th Prime Minister Anwar Ibrahim, Opposition Perikatan Nasional had tried – and failed – to topple Zahid during the internal party election last month. With most of Zahid loyalists controlling the United Malays National Organization (UMNO), the Unity Government appears unshakable.
Read it all here......About a week ago, former PM Muhyiddin Yassin’s effort to unfreeze his party’s accounts in CIMB and Ambank was torpedoed when Bersatu (Malaysian United Indigenous Party) accounts have been seized entirely. The move to freeze the accounts on January 12 and 13 under Section 44 of anti-money laundering and anti-terrorism financing was only valid for 90 days.
However, effective April 11, the Malaysian Anti-Corruption Commission (MACC) confirmed that the frozen accounts have been seized. Following four counts of abuse of power and two counts of money laundering slapped on Muhyiddin on March 10, the Section 50 instead of Section 44 goes into effect. In short, Bersatu is screwed because it will not be able to access its money.
Of course, Muhyiddin had stolen billions in the RM600 billion Covid scandal during his 17-month illegitimate backdoor government (March 2020 – August 2021). Some of those ill-gotten money had benefitted his partner – Malaysian Islamic Party (PAS – Parti Islam Se-Malaysia) – after which both parties spent lavishly to win 74 parliamentary seats in the Nov 2022 General Election.
The money in Bersatu accounts, first frozen and then seized, was just the tip of the iceberg. Most of the stolen money has either been siphoned to offshore accounts in Switzerland, Dubai or the United Kingdom, or being hidden in the country. The problem is the crooks cannot risk using the dirty money without being tracked and exposed by the authorities.
As the upcoming six state elections due between June and August this year, the Opposition is scrambling for funding to bribe voters. Any attempts to repeat last year’s mega election campaign would attract unwanted attention and investigation. The most damaging part is the corruption charges against Muhyiddin, who had managed to hoodwink gullible Malays that he was clean.
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