ANZ’s secret 1MDB sacking spree..how come management still sit pretty?

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http://www.sarawakreport.org/2016/03/anzs-secret-1mdb-sacking-spree-how-come-management-still-sit-pretty/

There has been not a squeak from Australia’s banking regulators, prosecutors or politicians about Najib’s billions, handled by the ANZ predominantly owned AmBank in KL.

Whilst regulatory authorities across the globe have indicated that they are now closely studying this stunning scandal and banking heads have started to roll in the face of questioning by the Swiss, US and Singapore, Australia has said nothing.

Neither is it apparently doing anything about the shocking state of affairs.

Except, that Sarawak Report has now learnt that secretly, behind the scenes, several of AmBank’s more junior KL staff were summarily blamed and then sacked last year, just after the cat was let out of the bag by Sarawak Report about those multi-million dollar bank accounts in AmBank.

These included two minority race Senior Relationship Managers and several other more junior staff.

Is that supposed to be it?

Are these unfortunates, who have seen their careers destroyed, to carry all the blame?

Because, a major banking concern like ANZ and the regulators behind it, must surely know that global compliance requirements do not exonerate banks, who put the blame on junior staff for non-compliance of such magnitude, particularly with regard to the accounts of high-profile, politically exposed politicians such as a national Prime Minister?

The Australian banking concern ANZ is, of course, the major shareholder of AmBank, where Najib kept all his dodgy accounts, handling hundreds of millions of dollars and billions of ringgit.

It is, therefore, the most blatantly and obviously culpable of all the international banking institutions involved in this sorry saga.

Some of that money has been directly traced from the KWAP public pension fund cash, borrowed by the 1MDB subsidiary company SRC.  That cash flowed, according to MACC investigators, out of SRC and fairly directly into Najib’s AmBank accounts – to be spent on credit card bills and also million ringgit payments to political hangers on and other ‘recipients’, whom Najib plainly needed to satisfy.

Let us be clear, Najib has now, finally, fully admitted to all of the above.

His excuse, as explained by his compliant new Attorney General last month, was that he hadn’t realised that all this money which appeared in his account had come from SRC.

Even so, he spent it anyway!  A child would know that you don’t spend money that mistakenly arrives into your possession, but the Najib appointed AG, has scandalously “cleared” Najib on the basis of this preposterous excuse – and is now being challenged by the Malaysian Bar Association and others for doing so.

There are several senior figures, earning top dollar at ANZ Bank, who had to have known about the massive, game-changing accounts belonging to Najib Razak in their bank.  These include ex-CEO Mike Smith, who resigned in September last year. According to his written accolades he had built business at the bank by focusing on none other than its South East Asian accounts.

———–

thanks to joelH for the link..

how come?

because management is always safe..a few traders get sacrificed and the big dogs just move on..

“The Australian banking concern ANZ is, of course, the major shareholder of AmBank, where Najib kept all his dodgy accounts, handling hundreds of millions of dollars and billions of ringgit. It is, therefore, the most blatantly and obviously culpable of all the international banking institutions involved in this sorry saga.”

uh huh..

“There are several senior figures, earning top dollar at ANZ Bank, who had to have known about the massive, game-changing accounts belonging to Najib Razak in their bank.”

401

~ by seeker401 on March 24, 2016.

10 Responses to “ANZ’s secret 1MDB sacking spree..how come management still sit pretty?”

  1. don’t forget – ANZ was caught rigging interest rates too.. only The Australian newspaper reported it in some big ways

    WE LIVE IN YOUR WORLD

  2. haha..i like the tone of the cop….. “nnnoo noooo nooo ”

  3. http://www.smh.com.au/national/bribery-scandal-linked-to-malaysian-prime-minister-najib-razak-20150713-gib8nr.html

    hmmm….those 2 RBA companies (Sucurency & NPA) – wonder if they are full subsidiaries or just ‘related’ companies.

    we should be well aware that 0zzies are no white knights. AND, why is the .gov hosting the killer Sirul in Villawood like some distinguished guest – triple cell, with wifi and access to full kitchen. And, “middlemen” coming & going into his cell like Pitt Street.

  4. http://www.smh.com.au/entertainment/movies/prosecutors-claim-financier-withdrew-us1-million-to-gamble-with-leonardo-dicaprio-20160720-gqa9fz.html

    ..Leon is not gonna be happy with all these headlines in NYT, Bloomberg, wsj, bbc, etc

  5. 1MDB theft,money laundering: “Seminar” at Gonski’s UNSW will explain why Gonski’s ANZ did nothing wrong …

    The 1MDB scandal is said to the the largest ever case of kleptocracy ,money laundering and theft.

    ANZ Bank and its associate AMBank of Malaysia have played a central part in the matter, enabling the transfer of billions stolen from 1MDB via the AMBank accounts of PM Najib, who also heads 1MDB.

    ANZ’s chairman is David Gonski.

    ANd now, coming to UNSW where David Gonski is chancellor, a “seminar” by 1MDB CEO Arul Kanda, which will explain why the entire 1MDB matter is all quite innocent. (lol)

    http://sahathevan.blogspot.my/

  6. all coming down to the Univ NSW for a grand PR session to explain away ..
    stashed up in anZ? all good , all proper. ahh nice one Australia.

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