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Police ready to act on RCI recommendation to investigate Bank Negara's forex losses in the 1990s

KUALA LUMPUR: Police are ready to act on Royal Commission of Inquiry (RCI) recommendation to investigate possible breach of trust and cheating involved in Bank Negara Malaysia’s foreign exchange losses in the 1990s.

Inspector-General of Police Tan Sri Mohamad Fuzi Harun said police would start the investigation if there were grounds to do so.

“I cannot comment on the issue as police have yet to receive any document or request from any party.

“We, however, are ready to study if there is a necessity for us to start the investigation,” he told the New Straits Times today.

The RCI, in its 528-page report that was tabled in Parliament today, said it believed that Datuk Seri Anwar Ibrahim, who was Finance Minister at the time, had misled the government and concealed the actual losses suffered by BNM.

The RCI recommended for Anwar to be investigated under Sections 417 and 418 of the Penal Code that pertain to cheating.

RCI also said it believes that the prime minister at the time, Tun Dr Mahathir Mohamad, had approved Anwar’s “misleading statements”.

“The finance minister at the time deliberately concealed facts and information and made misleading statements to the Cabinet.

“The commission also believes that the then prime minister had condoned the finance minister’s actions,” the report said.

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