INSPECTOR-General of Police Mohamad Fuzi Harun has given his assurance that police will be fair when investigating the findings of the royal commission of inquiry (RCI) into Bank Negara Malaysia’s forex losses. 

“Give us a chance. We will conduct a thorough and fair investigation into the RCI report (findings),” he said.

Fuzi declined to name any of the subjects of police investigation, saying it would be “unfair” to do so at this stage. 

“In an investigation like this, we cannot jump the gun. We need to be fair and we need time to look into the report that was released by the RCI,” he said.

Last week, the commission released its report in Parliament, pinning the blame for the billions of ringgit of losses on former BNM adviser Nor Mohamed Yakcop, and also implicating then-prime minister Dr Mahathir and former finance minister Anwar in efforts to conceal the losses from the cabinet and parliament.

Police have opened investigations under Section 409 of the Penal Code for Criminal Breach of Trust following the lodging of a police report by the commission’s secretary Dr Yusof Ismail in Putrajaya on Thursday.

Fuzi said police are not working within a timeframe, adding that a special team has been set up to investigate the case.

“If there are too many witnesses, then we need more time, if not then we will conclude our investigation faster.”

Fuzi declined to comment further on the case. 

“It’s too early for me to give further comment. The official report was lodged on Thursday and we have opened an investigation under Section 409 of the Penal Code for criminal breach of trust.”

A conviction under section 409 carries a maximum sentence of 20 years, with whipping and a fine. 

The RCI was formed to determine the truth of BNM’s losses from foreign exchange trading between 1992 and 1994.

The RCI, led by Petronas chairman Mohd Sidek Hassan, had concluded that BNM recorded a loss of RM31.5 billion in forex losses between 1992 and 1994. 

Apart from Nor Mohamed, Dr Mahathir and Anwar, the RCI also recommended investigations into former deputy governor Lin See Yan, BNM board of directors, and officials from the National Audit Department and Finance Ministry.

Dr Mahathir has said he will file a judicial review to block the RCI report should the panel refuse to include in its report his written submission and other legal documents totalling 495-pages. – December 4, 2017.