From Bernard Madoff To Our 'Crocs', who are luckier?

"Bernard Madoff gets maximum 150 years in prison"!
By TOM HAYS and LARRY NEUMEISTER, Associated Press Writers Tom Hays And Larry Neumeister, Associated Press Writers – Mon Jun 29, 7:38 pm ET

NEW YORK – A federal judge rejected Bernard Madoff's plea for leniency Monday, sentencing the 71-year-old swindler to spend the rest of his life in prison for an "extraordinarily evil" fraud that took a staggering toll on thousands of victims.
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What's the point of slamming a sentence that will be longer than Madoff can live?

He'd be 221 (year 2159) years by the time his term is expired!

Well, at least, this is what we called justice is done and seen, unlike in our land where the big financial 'crocs' are still free and continuing its rampage.

I'm talking about the scam happened in Sabah almost 10 years ago - the infamous Amanah Saham Sabah. Some people were devastated by the failure who had borrowed from financial institutions with the hope that the return from the investment would bring benefits for them, much like the ASN, the long-running successful unit trust backed by the federal government.

The Saham Sabah also backed by the then government of Sabah, and the Chief Minister (CM) then 'promised' openly to the fellow investors that the investment would be substantial and safe, and urging local investors to put their money on the counter; the result was then sad stories and miseries.

Who should be responsible for this mischief? Who should be answerable for the losses?

Would the CM at the time, the then BN government, or the investors themselves be blamed? According to the little prints on the back of the investment agreement; the investors are taking their own risks to do so. However, those who openly urging people to invest in the Saham Sabah from a high position are now 'disappeared', and the least they should do is to apologise for the unfortunate and 'friendly-misled'. But, no one dared to do so. What they did was finger-pointing each other. The investors can only watch and said: I'll see you in the next election.

There should at least some one responsible for the loss, and accounted for it. But none were singled out. One of the key investors, a State-owned Company, in the Saham Sabah even had parted its good shares for a lousy stock which value was 'artificially' pumped-up that rendered the government lost a lot; of course not accounted for at the end.

No wonder there are so many peoples want to handle the public funds for investment as no one should be haunted by its blunder ness and investment mistakes made with public funds!

Is the government going to dig to the bottom and make the culprits pay for the failure of the Amanah Saham Sabah?

Whose side is the government on when it comes to the financial market matter – The investor or the administrator?

Will we be able to nap someone and make a similar sentence in Malaysia, like they have just done on Madoff?

No.

The lame excuse for not able to do so may have been that our land still short of manpower and experts; furthermore, the laughing part may be we can't afford to nail and execute these culprits, yet.

Our financial and judicial system is simply not efficient enough to cater for all these requirements, and our mechanisms in enforcement are just so happened not good enough to apprehend these culprits.

Our PM Najib just announced a series of good news on the removal of 30% restriction on foreign participation in our economy, and I hope that more foreign capitals under the less restrictive controls does not mean the locals nor foreigners have to be the 'victims' of those dishonest 'crocs'.

The investors will invest in an environment that is fairly monitored and controlled.