Up to $204m from 1MDB could have been channelled to Umno: Report

Umno's acting president Ahmad Zahid Hamidi had announced that the bank accounts of the party's headquarters and Selangor branch had been frozen by the Malaysian Anti-Corruption Commission.
Umno's acting president Ahmad Zahid Hamidi had announced that the bank accounts of the party's headquarters and Selangor branch had been frozen by the Malaysian Anti-Corruption Commission. PHOTO: REUTERS

KUALA LUMPUR • As much as RM600 million (S$204 million) belonging to troubled Malaysian state fund 1MDB could have been channelled to the bank accounts of Umno, the country's largest political party, reported local media yesterday.

According to the New Straits Times, investigators in a renewed probe into the billions allegedly misappropriated from 1MDB have frozen Umno's bank accounts as they seek to prove that RM600 million deposited there came from the state fund.

It said that the authorities were seeking to establish and secure "what could be left of the funds".

Umno's acting president Ahmad Zahid Hamidi last Thursday announced that the bank accounts of the party's headquarters and Selangor branch had been frozen by the Malaysian Anti-Corruption Commission.

It is believed that some 900 bank accounts belonging to individuals and organisations have been frozen as part of the probe.

Meanwhile, business weekly The Edge reported yesterday that other parties in the then ruling Barisan Nasional coalition received up to RM300 million from 1MDB for the 2013 general election.

It is believed that some 900 bank accounts belonging to individuals and organisations have been frozen as part of the 1MDB probe.

 
 

Quoting sources, The Edge said Umno headquarters got nearly RM145 million from one of several AmBank accounts of then Prime Minister Najib Razak. The account contained RM800 million, funds believed to have come from the proceeds of 1MDB bonds issued in 2012 and 2013.

According to the report, Datuk Seri Najib issued cheques from those accounts to various parties including RM19 million to Selangor Umno and RM25 million to Johor Umno. BN member parties MIC and MCA got RM15 million and RM11 million respectively.

A version of this article appeared in the print edition of The Sunday Times on July 01, 2018, with the headline 'Up to $204m from 1MDB could have been channelled to Umno: Report'. Print Edition | Subscribe