FOR more than an hour late yesterday, the crowd of more than 500 sat enthralled as they heard details of the 1Malaysia Development Berhad (1MDB) multibillion ringgit scandal, which had hogged headlines in recent years but until then, made little sense to them.

Gasps of shock and murmurs of outrage were heard throughout the DAP-organised forum aimed at shedding light and keeping the spotlight on the 1MDB controversy.

Many stared in wide-eyed disbelief when Tony Pua, DAP’s national publicity secretary, explained how the billions of ringgit involved in the scandal were connected and ultimately went unaccounted for.

A member of the audience who gave his name as Goh said much of what he heard at the forum last night was news to him, as he had very little understanding of the 1MDB issue.

“Most people don’t know because many areas still have no internet and even the phone reception is bad,” said the 70-year-old from Sarawak who was visiting his children.

“Now I have information to share when I go home,” said the retired farmer.

Pua spent nearly an hour explaining how 1MDB raised money, overpaid for power assets, incurred losses and recorded debts of billions of ringgit.

He explained the alleged roles of Prime Minister Najib Razak and Penang-born businessman Low Taek Jho (Jho Low) in the 1MDB scandal, and bombarded the audience with details of how public funds ended up being used to buy luxury properties, hotels, a Bombardier jet, paintings by famous artists, such as Monet and Van Gogh, and finance a Hollywood blockbuster.

It was recently reported that American authorities were planning to charge Low with wire fraud and money-laundering. The US Justice Department was also trying to seize more than US$1 billion in assets, which included the Park Lane Hotel in New York and a Bombardier jet, believed to be bought with funds siphoned off from 1MDB.

“None of the assets bought were registered under 1MDB ownership,” Pua told the crowd that was mostly made up of the middle-age and senior citizens.

He also talked them through the rationalisation exercise meant to clear 1MDB debts, the recent arbitration settlement with Abu Dhabi’s International Petroleum Investment Company (IPIC) and collapse of the Bandar Malaysia deal.

He said the total amount misappropriated directly by 1MDB stood at RM23 billion, excluding losses from other activities, such as acquiring the power plants.

“This is the sum they took from 1MDB and put into their own pockets, blatantly and brazenly,” he said.

Other speakers at the forum included DAP secretary-general Lim Guan Eng, Penang DAP chief Chow Kon Yeow and Bukit Gelugor MP Ramkarpal Singh. – May 9, 2017.