‘PROBE INTO FOREX LOSSES ALMOST DONE’

It took time as we had to get info from few countries, says IGP

POLICE have almost completed their investigation into Bank Negara Malaysia’s (BNM) foreign exchange losses. Inspector-General of Police Tan Sri Mohamad Fuzi Harun said the case was being investigated by the Commercial Crime Investigation Department, which was reviewing the Royal Commission of Inquiry’s (RCI) report.

“We will take action in accordance with the law as soon as the investigation is completed.

“This investigation took some time as it required us to get information from several countries involved in the report.”

Fuzi said he could not divulge further details as it might interfere with the investigation.

Police started the probe last November following the RCI recommendation to investigate possible breach of trust and cheating in BNM’s foreign exchange losses in the 1990s.

RCI secretary Datuk Dr Yusof Ismail, who is Finance Ministry’s Strategic Investment Division director, had lodged a report at the Putrajaya police headquarters.

In the report, it was stated that those who were involved in the alleged wrongdoings were BNM officers, its board members, the National Audit Department, the Finance Ministry and the prime minister who served during the period.

Fuzi had said the case was being investigated under Section 409 of the Penal Code for criminal breach of trust.

On Nov 30, RCI tabled a 400page report of its recommendations on the forex losses in Parliament, after which Yusof lodged the report.

Yusof said the report would enable police to conduct a formal investigation into the breach of trust, fraud and other offences that might have been committed by parties stated in it.