IGP hopes 1MDB probe ‘won’t take long’

(MMO) – Inspector-General of Police Tan Sri Khalid Abu Bakar is hopeful he can wrap up investigations into state-owned 1Malaysia Development Berhad soon.

However, he said it will be tough to set a time frame for the police to complete their probe, news portal Malaysiakini reported today.

“Insya-Allah (God willing), it won’t take a long time to solve this issue.

“It is difficult for me to say when the investigations (will be completed)… (whether) next week or when,” he was quoted telling reporters at the national police headquarters in Bukit Aman this morning, after he was asked how long the probe would take.

He also said the police investigation team on 1MDB is not new but a continuation of past investigations.

He urged the public to give some leeway to the police to conduct its scrutiny, saying it will not publicise the investigation process.

However, he promised that the police will submit its findings based on the reports by Parliament’s Public Accounts Committee (PAC) to the Attorney-General’s Chambers once completed.

Khalid previously announced he will lead a special investigation team to look into cheating and criminal breach of trust by a public servant in the sovereign investment firm based on the PAC’s findings.

The PAC in its report released on April 7 urged the authorities to investigate former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi over weaknesses in the company’s management.

In the report, the panel said 1MDB’s board of directors failed in their responsibilities to the company and its shareholders by allowing its management to make decisions that were not in line with good accounting practices.

1MDB is also currently under probe by the authorities in several countries, with Luxembourg the latest to investigate the state investment firm for alleged money laundering.