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Thursday, 8 October 2015 | MYT 5:01 PM

AGC: No offence by 1MDB in Bank Negara probe

PETALING JAYA:  The Attorney General's Chambers (AGC) has decided that no offence was committed by 1Malaysia Development Berhad (1MDB) based on an investigation paper (IP) by Bank Negara and no further action should be taken.

The AGC said Bank Negara's investigation into 1MDB was focused on an offence under paragraph (4)(b) of Part 1 of the Fifth Schedule to the Exchange Control Act 1953 for recklessly making a statement which is false in a material particular.

"The investigation paper was submitted to the AGC on Aug 21 2015. Having studied the investigation paper, Deputy Solicitor 1 Datuk Tun Abdul Majid Tun Hamzah decided that there was no offence committed by 1MDB officials and directed that no further action should be taken," said the AGC in a statement on Thursday.

The AGC added that the IP was returned to Bank Negara on Sept 11.

"However, on Oct 1, Bank Negara sent a letter of request to the AGC to have the decision reviewed. Having considered the request and the fact that there was no new evidence made available, the Attorney General decided to maintain the decision made earlier.

"What has been in the news concerning the Investigation Paper being with the AGC and that discussions were ongoing is inaccurate and not true," said the AGC.

The AGC's statement was issued in response to a statement by the Keeper of the Rulers' Seal on Tuesday in which the Malay Rulers said Government should complete the investigation into the 1MDB controversy as soon as possible and take “the appropriate stern action” against those implicated.

On Wednesday, former Deputy Prime Minister Tan Sri Muhyiddin Yassin said that until now, no action had been taken against anyone, even after Bank Negara Governor Tan Sri Zeti Akhtar Aziz said they had completed their investigations into 1MDB and had handed over their findings to the Attorney-General (A-G) in August.

AGC also said the Task Force investigating 1MDB has never been dissolved or disbanded.

"The AGC has never made any statement to that effect. In fact the investigations conducted by the respective agencies were never at any time halted or hindered.

"The Attorney General has been constantly monitoring and giving instructions to the relevant agencies whenever the investigations were referred to the AGC, including instructions to expedite investigations," it said.

"As of today, the Royal Malaysian Police and the Malaysian Anti-Corruption Commission have not completed their investigations as the statements of some key witnesses have yet to be recorded," the AGC said.