How these companies disposed of these shares and the manner the profits were channeled to Maju Institute of Education and Development (MIED) were highly questionable. Millions of ringgit was given to MIED in cash. In this day and age one has every right to suspect such transactions. Do you carry millions of ringgit in your person to pay to an educational institution? For God's sake, there is such a thing as bank transfers!
Let’s for a moment try to be logical; how did these companies come to possess this amount of money before it was handed over to MIED? They must have been paid in cheques when they sold the Telekom shares. Does it mean that they went to the bank, cashed the cheques and carried the millions of ringgit, presumably in a bag, as one crazy Malaysian guy did in Australia? This seems far fetched!
What is puzzling is the fact that in spite of so much overwhelming evidence, the Anti Corruption Agency (ACA) after 17 months of investigation cleared Samy Vellu of any wrong-doing but unfortunately without clearing the doubts in the minds of the Malaysians, as was observed by Aliran Monthly.
Who Benefited From Share Allocation?
The larger questions as to how and why political parties are allocated shares that are monopolized by the connected few have not been addressed. These allocations are never revealed and it is not possible to know which crony benefits and by how much. This system has led to abuses and effectively blocks the wealth from reaching a wider circle of deserving citizens.
In 1994, the then Chairman of MIC Public Claims Committee, V Subramaniam – also known as “Barat” Maniam – made a startling accusation publicly. He charged that the accounts were fabricated to make it appear as if all the profits from the sale of the Telekom shares were channelled to MIED. In challenging Samy to take him to court, he declared, “I have come out with this statement to prove that Samy Vellu is a thief. He has stolen (Telekom) shares from the Indian community.”
Let’s for a moment try to be logical; how did these companies come to possess this amount of money before it was handed over to MIED? They must have been paid in cheques when they sold the Telekom shares. Does it mean that they went to the bank, cashed the cheques and carried the millions of ringgit, presumably in a bag, as one crazy Malaysian guy did in Australia? This seems far fetched!
What is puzzling is the fact that in spite of so much overwhelming evidence, the Anti Corruption Agency (ACA) after 17 months of investigation cleared Samy Vellu of any wrong-doing but unfortunately without clearing the doubts in the minds of the Malaysians, as was observed by Aliran Monthly.
Who Benefited From Share Allocation?
The larger questions as to how and why political parties are allocated shares that are monopolized by the connected few have not been addressed. These allocations are never revealed and it is not possible to know which crony benefits and by how much. This system has led to abuses and effectively blocks the wealth from reaching a wider circle of deserving citizens.
In 1994, the then Chairman of MIC Public Claims Committee, V Subramaniam – also known as “Barat” Maniam – made a startling accusation publicly. He charged that the accounts were fabricated to make it appear as if all the profits from the sale of the Telekom shares were channelled to MIED. In challenging Samy to take him to court, he declared, “I have come out with this statement to prove that Samy Vellu is a thief. He has stolen (Telekom) shares from the Indian community.”
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