Corruption Scandal: Bank Negara Governor Zeti petrakubrik

The Plot Thickens, Special branch is currently investigating Governer Zeti, Datuk Shamsiah, Datuk Shamsuddin and Abdul Rahman of Bank Negara Malaysia under section 124 of the penal code.

 

Currently under investigation under section 124 of the penal code that carries a penalty of up to 20 years in prison.

Section 124 of the penal code carries a penalty of up to 20 years imprisonment.

It is understood that in addition to the section 124 investigation, a parallel corruption investigation will also be held implicating Zeti in a deal that involves Dato’ Tawfiq Ayman and Alif Ayman.

The investigation is two fold but will probe those involved in the direct negotiation of water pump contracts whereby the ministry of Education awarded lucrative water contracts to the a company that has several directors who are related to the Tan Sri Dr Zeti.

Several directors of http://www.azair.com.my are related to Governor Zeti.

A major client of the Zeti linked company http://www.azair.com.my is the education ministry.

The investigation under way will probe the mishandling of Government funds and abuse of the tender process.

A snapshot from the company website indicates that there is a clear financial commitment involved in the water treatment work. “Azair will outline the financial commitment required”, clearly this company is not a not for profit. 

Dato Tawfiq Ayman is the husband of Tan Sri Dr. Zeti Akhtar Aziz who is the acting Governor of Bank Negara.

Dato Tawfiq Ayman is also under a renewed spotlight for illicit commissions received in a CIMB-Southern Bank deal where by third parties profited from stock due to the illicit handling of confidential information. 

There is a renewed interest in the investigation of this following the introduction of new evidence.

By virtue of the close relationship between husband and wife, Ayman has access to confidential information that has been used for his benefit in his business dealings.

In order for a bank to be sold and bought over it has to be approved by Bank Negara and the Securities Commission. What this means is that confidential information would be made available to Zeti due to her position. In the case of CIMB – Southern bank, Zeti’s husband Dato Tawfiq Ayman was a broker for the deal and was paid a handsome commission. 

The finalized deal was valued at just over USD1.8 million dollars with many analysts valuing the deal at 1.92 of book value. Whilst this is not extraordinary in it’s own sense, what is troubling is the involvement of Zeti’s husband in the deal.

1. How is possible for millions and even billions of dollars as alleged by various news portals to moved around without the knowledge of the Governor of Bank Negara?
2. Zeti should clarify why a company controlled by her family members received lucrative water contracts from the ministry of education
3. What was the nature of Zeti’s involvement with CIMB Southern bank deal? Similarly what was Tawfiq Ayman’s involvement?