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Monday, February 23, 2015

1MDB PetroSaudi deal a con job, says Tony Pua

Tony Pua says 1MDB president Arul Kanda Kandasamy should explain its loss of US$1.1 billion over a deal with a Saudi Arabian petroleum firm. – The Malaysian Insider file pic, February 23, 2015.Tony Pua says 1MDB president Arul Kanda Kandasamy should explain its loss of US$1.1 billion over a deal with a Saudi Arabian petroleum firm. – The Malaysian Insider file pic, February 23, 2015.
Debt-laden 1Malaysia Development Bhd (1MDB) said it made US$488 million profit from a Saudi Arabian deal but a DAP lawmaker today called it a con job.
Tony Pua also said today instead of making money from the deal with PetroSaudi International, 1MDB's president Arul Kanda Kandasamy had to explain a loss of US$1.1 billion.
"The whole complex and mind-boggling financial manoeuvres all point towards the perpetuation and massive cover-up of a multi-billion ringgit fraud.
- TMI

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