Azeez Rahim the “Holy Thief”to escape the law

 

Azeez Rahim the “Holy Thief”to escape the law

 

Only in Malaysia can a former Chairman of a statutory body, undergoing trial for money laundering and corruption be appointed as a representative to deliver aid to the Palestinians.

 Azeez Rahim, currently undergoing trial in the Malaysian sessions for 13 corruption and money-laundering charges. Abdul Azeez is facing three counts of bribery involving RM5.2 million linked to road projects in Perak and Kedah, and 10 counts of money laundering involving nearly RM140 million.

 Along with many other corrupt leaders, including the former Prime Minister, NajibRazak, Azeez was charged during the Pakatanharapan government which took over power from the 60 year ruling Barisan Nasional government. 

 What does Azeez need? Two things – the PH government to topple and his party, UMNO to be part of the government. PH did topple.  The deputy Prime Minister, Ismail Sabri, is from UMNO party.

 The current government, Perikatan Nasional is not only unstable because of party hopping and buying of members of parliament but it is also does not have the support of the people. It survived because the covid19 pandemic made it difficult for parliament to convene and for protests to happen. Dealings are easy for the ones charged in court.

 Under this new government, the Malaysian judiciary sings a different tune, so Azeez was not only able to get a stay of his ongoing trial, he was able to get permission from court to leave the country – to Palestine to pass almost MYR1.5 million worth of aid!

 Azeez was heading Tabung Haji (TH), a statutory body that collects billions of dollars from Malaysian muslim depositors until the BN government fell in May 2018. When the new PH government took over, they discovered a major financial hole in TH and had to execute a bailout plan to save the institution. The then Finance Minister, Lim Guan Eng announced as follows:

 “Under the plan, an SPV — to be owned by the Ministry of Finance — will acquire RM19.9 billion worth of TH’s underperforming properties and equities at book value.

In exchange, the SPV will issue RM10 billion in seven-year sukuk, which will be fully subscribed by TH, along with RM9.9 billion in Islamic redeemable convertible preference shares (RCPS-i), with no maturity or dividend.

“The SPV will then work on selling the assets that were transferred to them. They don’t sell the assets immediately, of course ... they will rehabilitate and maximise recovery of those assets. Whatever [cash] they get out of it will be used to settle the sukuk and the RCPS-i” 

The sukuk is redeemable at any time without penalty .

Of the assets to be transferred to the SPV, 80% of the total value comprises equities with properties accounting for the balance 20%"

Anyway, the end of the corruption court cases involving high profile leaders of the BN government is clear – they will be cleared of all charges in due course under this weak PN government.  As of last week, a powerful UMNO leader, Tengku Adnan Mansor, was acquitted of corruption charges when the Court of Appeal overturned his conviction in the High Court.  Malaysians have forgotten that the prosecution had promised to recharge Adnan for a charge that they had withdrawn temporarily.  With the new Muhyiddin government in place, the Attorney General who is beholden to the government developed amnesia.

 NajibRazak is expected to walk free with his conviction which will be overturned by the Court of Appeal.  The court of appeal is expected to allow Azeez Rahim’s attempt to strike out his corruption charges . He too will walk free.

In Malaysia, justice and corruption in high places is back to usual business. If you are high enough, the law cannot keep you even if it did pretend to catch you.

 

Jasmi Hasan Dol.