Malaysia – A real case of “A Fool and Her Money”

According to the old idiom – “a fool and his money are soon parted“. But what is never asked of the fool is how did the money got to him/her in the first place? Regardless of by whatever means, what all the fools don’t know is the where, from and how the money derived.

Well…if you’re one of the fools like Rosmah, when “your” money (wealth) is questioned and threatened, you’d be jumping mad and barking the wrong tree. And that’s damned dangerous…soon you and your money are parted.

“Any fool can criticize, condemn and complain – and most fools do.” – Benjamin Franklin

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Asia Sentinel

Malaysian PM’s Wife Seeks Central Bank Governor’s Ouster

Two powerful women take center stage in spreading scandal as government clings to power

Prime Minister Najib Razak’s controversial wife, Rosmah Mansor, is trying to drive another powerful woman, internationally respected Bank Negara Governor Zeti Akhtar Aziz, out of the central bank,  according to knowledgeable sources in Kuala Lumpur.

Rosmah is said to be enraged over leaks of her personal financial details. She also fears that Zeti has detailed information on the 1Malaysia Development Bhd. scandal that could bring down the government and the prime minister. Insiders say Rosmah, a lightning rod for criticism over her lavish spending, is the field marshal directing the defense of her beleaguered husband’s government.

“My own view is that Najib will fight to the political death because of the wife,” a longtime academician and political analyst told Asia Sentinel. “She is much stronger than Najib and will not accept any retirement package. She is powerful in her own right.”

The year-long scandal has paralyzed Malaysian politics and played a major role in weakening the economy as Najib twists and turns to keep his enemies at bay. Earlier this week, Najib sacked several members of his cabinet for apparent disloyalty; he has also moved against critical news outlets.

Independent authority

Driving Zeti out won’t be easy. The Central Bank Act of 2009 – ironically passed that year at Zeti’s request after Najib became prime minister – insulates the central bank from political influence. The governor can only be appointed or fired by the Malaysian King, a rotating monarchy that passes among nine sultans. The current king is from Kedah, the home state of Mahathir Mohamad, Najib’s most implacable enemy.  The king reportedly has told Mahathir he is staying out of the matter so that the law can take its course.

Rosmah is said to have targeted Zeti after the Sarawak Report published details on July 9 about the deposit of RM2 million [US$523,400] into her account in Affin Bank, after which Rosmah demanded that Zeti find out who leaked the information within 72 hours or resign.

When Zeti apparently declined, she came under attack from blogs said to be linked to Rosmah.

Blogs in the fray 

One of the blogs, “Fromtheeleventh,” alleged that the police Special Branch intelligence unit is investigating Zeti and three other Bank Negara officials for sedition and carrying out a parallel investigation into Selangor state water contracts involving Zeti’s husband, Tawfiq Ayman, and their son Alif.  The blog also alleged that Tawfiq is being investigated for allegedly illegal commissions paid in a bank deal in which third parties benefited from insider information, supposedly which could have been provided by the central bank.

“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,” the blog said, indicating that “new information” had been supplied to investigators.

“The husband is a little shaky,” said a Malaysian businessman, “but Zeti has always acted quite properly.”

Another extremely well-informed source told Asia Sentinel, “I would totally believe that Rosmah would try to push Zeti out if she felt threatened. Bank Negara does have lots of smoking guns on all the dodgy bank transfer documentation, both involving Rosmah and also Najib, 1MDB etc. Zeti isn’t an angel and there could be dirt on her somewhere that could be used, though she’s not been associated with any major personal scandals that I can recall.  It’s more that she’s gone along with wonky stuff as required by politics and maybe got rewarded for her compliance.”

But, he said, “I do believe she still thinks of herself as a professional central banker, so she might actually draw the line here. My impression is that Bank Negara is the most likely of all the investigative entities to really be able to pin something on Najib and Co.”   

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Malaysia – PM’s wife causing Razak family’s anxiety?

FreeMalaysiaToday

Her extravagance makes life difficult for everyone, says Shahbudin Husin

PETALING JAYA: If one were to read between the lines of the recent joint statement by PM Najib’s brothers, one could see that they were concerned by disclosures about their sister-in-law’s opulent lifestyle, according to analyst Shahbudin Husin.

In a blog article titled “Rosmah makes life difficult for everybody”, Shahbudin notes that the Razak family’s statement followed a New York Times report that quoted a statement from the Prime Minister’s Office, which said: “Neither any money spent on travel, nor any jewellery purchases, nor the alleged contents of any safes are unusual for a person of the prime minister’s position, responsibilities and legacy family assets.”

He says it’s not Najib or his children whom the Malaysian public associate with opulence, but his wife, Rosmah Mansor, and her son from a previous marriage, Reza Aziz.

He notes that Najib’s brothers were defending the reputation of their father, Abdul Razak Hussein, who, as Malaysia’s second prime minister, was known for his integrity and frugal ways.

He says it appears that the brothers have joined “the many Umno grassroots leaders” in their anxiety over Rosmah’s spendthrift ways.

Shahbudin, who is a former official in Federal Territory Umno and who claims to be in touch with the party’s grassroots, says Umno leaders have often been heard to complain of the burden of having to defend Rosmah against public criticism.

Referring to the upcoming series of celebrations to mark the wedding of Najib’s daughter with a Kazakhstani, he says there’s already gossip about how extravagant the spending will be.

“Again,” he says, “all the opulence will be associated with what Rosmah wants, and not the wishes of the bride herself.

“Will the Prime Minister’s Office again associate the high expenditure with the wealth Najib allegedly inherited from his father?

“Whether or not the relationship between Najib and his brothers is being strained by this uncontrolled extravagance, the reality is that the anxiety over the subject of Rosmah has now spread further.”

 

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Malaysian PM stepson and ‘The Wolf of Wall Street’?

the Malaysian Insider

Who paid for the production of ‘The Wolf of Wall Street’?

BY LEE SHI-IAN

January 14, 2014

(From left) Producer Riza Aziz and cast members Leonardo DiCaprio, Margot Robbie, Jonah Hill and producer Joey McFarland arrive for the UK premiere of ‘The Wolf of Wall Street’ at Leicester Square, in London last week. – Reuters pic, January 14, 2014.

 

Even in its moment of glory at the Golden Globes, controversy shrouded the “The Wolf of Wall Street” as questions arose over the funding of the US$100 million (RM326 million) film.

mStar Online reported that Riza Shahriz Abdul Aziz, Datin Seri Rosmah Mansor’s son from an earlier marriage, declined to clarify speculation that Rosmah had funded the production of the film.

At last night’s Golden Globes award ceremony in Beverly Hills, California, Leonardo DiCaprio picked up the award for best actor in a musical or comedy.

Riza, 36, one of the film’s producers, has refused to comment on speculation by a pro-opposition news portal that Rosmah had funded the film.

mStar Online, however, did not reveal which pro-opposition news portal reported that Rosmah had allegedly funded the film.

Riza, who made the headlines for purchasing a luxury condominium in New York worth RM110 million, is Rosmah’s son from her marriage to Abdul Aziz Nong Chik.

Riza’s purchase of the luxury condominium for US$33.5 million in November 2012 was revealed recently by Sarawak Report, which was founded by Rewcastle Brown.

Rewcastle is the sister-in-law of former British premier and Chancellor of the Exchequer Gordon Brown.

The news of Riza’s real estate purchase attracted a deluge of criticism from indignant Malaysians and opposition lawmakers.

At a time when Putrajaya was announcing price hikes in electricity tariff and toll rates and telling Malaysians to tighten their belts, Prime Minister Datuk Seri Najib Razak’s stepson was buying a multimillion ringgit property in New York.

Riza had been quoted by the Hollywood Reporter as saying that his sincerity and commitment in producing films was proven by the money he had invested in Red Granite Pictures.

Red Granite Pictures is an American film finance, development, production and distribution company, co-founded by Riza and Joey McFarland in 2010.

It has produced films such as “Friends with Kids”, starring Adam Scott and Megan Fox, and “Dumb and Dumber To”, starring Jim Carrey and Jeff Daniels. – January 14, 2014.

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Graft-busters powerless to probe Malaysian Premier’s step son despite clamour for action

The Malaysian Insider

Graft-busters powerless to probe Rosmah’s son despite clamour for action

BY EILEEN NG
December 30, 2013

Rosmah – Wife of Malaysian PM

Malaysian graft-busters cannot investigate the prime minister’s stepson for his controversial RM110 million New York apartment purchase because there is no law to look into individuals who buy and own assets beyond their income.

The Malaysian Anti-Corruption Commission ( MACC) said it proposed the clause to be included in the Malaysian Anti-Corruption Commission Act 2009 but Putrajaya have yet to table the amendments in Parliament.

“Although this is not our full function, MACC welcomes the matter being included into the proposed amendments to the Act, which will be brought to Parliament next year,” it said in a statement last night.

The statement was released after opposition politicians urged the MACC to probe film producer Riza Shahriz Abdul Aziz’s pricey purchase in New York. Riza is the son of the prime minister’s wife Datin Seri Rosmah Mansor (pic) from a previous marriage.

Media reports had said the 36-year-old had worked as an investment banker in London where he accumulated his fortune in equities and property. Riza owns Red Granite which produced Hollywood star Leonardo DiCaprio’s latest movie, Wolf of Wall Street, which is directed by the acclaimed Martin Scorsese.

A gossip columnist reported that Riza bought the condominium in December 2012 but the news only hit the headlines when whistle-blower website Sarawak Report published the news this week, questioning the origins of his fortune.

The condominium is said to be one of the most exclusive and expensive properties in the world, the gossip columnist said, featuring 15 rooms within the 7,738 sq ft space with fantastic views from a wraparound 1,244 sq ft balcony.

But a New York property website, the Real Deal, said Riza had bought a seven-bedroom property at West 63rd Street in Park Laurel, on November 19, 2012.

The LA Times reported this week that Red Granite raises money from a pool of undisclosed investors in the Middle East and Asia, and finances its movies on a one-off basis. Wolf of Wall Street apparently cost US$100 million which Red Granite funded in full.

“The company is able to greenlight a picture without a distribution deal in place. But because it doesn’t have a fund it can tap, Red Granite must convince its investors that an individual project is worth the risk, rather than having the comfort of money to underwrite an entire slate,” the report said of the company which was set up in 2009.

However, Malaysian opposition politicians were more interested in his wealth than his business acumen, with PKR vice-president Chua Tian Chang, better known as Tian Chua, saying: “The revelation is shocking. At a time when the people are struggling with the cost of living, some are splurging.”

“Where did he (Riza Shahriz) get that much money? RM110 million is a lot,” he said when calling for MACC to investigate the matter.

The MACC statement said the proposal to investigate individuals who live beyond their means was also recommended by the Anti-Corruption advisory board as well as the parliamentary special committee on corruption.

It said the 2012 MACC annual report also mentioned the need for the Act to be amended to enable an individual to declare their wealth or assets without any preliminary investigation done on them first.

“The commission and the public see this as a restraint towards efforts to tackle corruption effectively because some public office holder or civil servants own assets which are not in line with their incomes,” the MACC said. – December 30, 2013.

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Malaysian Premier step son bought US$33.5m New York apartment

The prime minister’s wife, Datin Seri Rosmah Mansor, is  in the limelight again, following a report by whistleblower portal Sarawak Report that her 36-year-old son paid US$33.5 million (RM110 million) for a penthouse in New York last year.

Riza Shahriz Abdul Aziz, Rosmah’s son from an earlier marriage, reportedly bought the seven-room property at 63rd Street in Park Laurel, New York.

Red Granite Picture’s Riza Aziz and Joey Mcfarland with finance ‘whiz kid’ Jho Low at the launch of Wolf Of Wall Street

 

The Sarawak Report, citing a New York real estate site The Real Deal, claimed that Riza bought the property on November 19 last year.

News portal Malaysiakini  quoted a report in the New York Times, which stated the condominium unit  in Central Park West was bought under the shield of a limited-liability company called Park Laurel Acquisition.

Riza, the stepson of Datuk Seri Najib Razak, began a career in banking after graduating from the London School of Economics in 2000, according to Sarawak Report.

It said he worked with consultancy firm KPMG until 2002 and later with HSBC London, until the 2008 financial meltdown.

“According to the Financial Services Authority, Riza Aziz was employed in a relatively minor role at HSBC for five years, although Aziz himself says he resigned in 2008,”  the report said.

Riza is said to have partnered with renowned Hollywood producer Joey McFarland to set up a production company Red Granite Pictures, whose films include The Wolf of Wall Street, Friends With Kids and the sequel to Dumb and Dumber, Dumber and Dumber To.

In an interview with the Los Angeles Times, McFarland said the company’s strategy was to “buy up promising but troubled production projects that other studios have dropped”.

According to Sarawak Report, businessman Jho Low was at the launch of The Wolf of Wall Street, which starred Leonardo DiCaprio.

A group photograph of Riza, McFarland and Low, the Penang-born billionaire who supposedly has close links with Najib and Rosmah, is also published by Sarawak Report.

The portal also claimed that the original producers of “Dumb and Dumber”, Steve Stabler and Brad Krevoy, have filed a suit against Riza, and reproduced documents filed with the Superior Court of California, in which Riza was described as a relative of Najib.

They duo were upset that Riza’s company, which acquired the movie rights, has cut them out from the production of “Dumb and Dumber To”. – December 28, 2013.

The Malaysian Insider

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