UPDATE 2
Opposition Leader Anwar Ibrahim dropped a bombshell on Thursday,
saying it was not impossible for his former boss Mahathir Mohamad to
possess a fortune of as large as US$ 44billion, which would make the
latter the world's second wealthiest ex-leader.
"Yes, it is possible. Why not? Look at his family, his cronies. This
is why Dr Mahathir should explain," Anwar told a press conference at
his party headquarters in Tropicana, Petaling Jaya.
The Wiki page, updated on December 14, had put Mahathir as the
second richest ex-leader after Egypt's Hosni Mubarak, who it estimated
was worth some US$70 billion. However, minutes after the article was
published, Mahathir's name mysteriously disappeared from the Wiki list
and Indonesia's late president Suharto, in third place with an estimated
US$35 billion, was pushed up to replace the former Malaysia premier.
Mr 10%?
Now 87, Mahathir ruled Malaysia for 22 years from 1981 to 2003. His
ham-fisted style and use of racial favoritism to gain the political
upper hand have been much criticized and he is reviled rather than
cherished by large pockets of the Malaysian populace.
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Critics,
who describe Mahathir as 'Dr Devil', have through the years speculated
on how much money he and his family have made through leveraging on
his influence and absolute control of the various government machinery.
Some even call him "Mr 10%", in a reference to his alleged abuse of
power and corrupt practices such as seeking a cut from every deal he
gave the green light to.
Indeed, Mahathir's coterie of cronies include the country's richest
and most powerful businessmen. They include lottery king Vincent Tan
and Ananda Krishnan, the notorious Maxis boss who is now being probed
by the Indian government for purportedly bribing his way into a
controlling stake at Aircel.
From 2001 to 2010, US$285 BILLION siphoned out
The speculation on Mahathir's wealth comes hot on the heels of a
shocking report from the Washington-based Global Financial Integrity,
which tracks capital flight and is run by top financial executives
including former senior IMF researchers.
GFI said in its latest report that US$RM 197 billion of 'dirty
money' had been siphoned out of Malaysia in 2010 compared to RM 93
billion in 2009, an increase of 112 %. Malaysia also has the rather
shameful record of being the No. 2 country in the world after China
with the highest illicit outflow of dirty money in 2010.
For the 10 years from 2001 to 2010,
Malaysia is ranked No. 3 globally after China and Mexico. The total
10-year estimate for Malaysia is US$285 billion (RM871.4 billion),
while China is US$2,740 billion, and Mexico, US$476 billion.
In its latest report, GFI minced no words, warning that capital
flight in Malaysia is "at a scale seen in few Asian countries".
Great Robbery
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Anwar
also expressed "no confidence" in Prime Minister Najib Razak's
political will or ability to probe the GFI report or come up with an
action plan to stop the outflow.
He has mooted a roundtable in January 2013 where his Pakatan Rakyat
coalition plans to bring together GFI officials, central Bank Negara
representatives and government officials to stem the rot.
"He (Najib) is complicit in this. We
raised the matter two years ago but not only has nothing been done,
the amount of illicit outflows has more than doubled in 2010 compared
to 2009. He has not been transparent to the people and has blocked
investigations," said Anwar.
"We are talking about mind-boggling
crime... This is the same situation as in the Great Indian Robbery
where US$500 billion was spirited out of the country over a period of 6 decades."
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