Najib: I would have acted if I knew 1MDB funds were misappropriated

Former prime minister Najib Abdul Razak has said he would have acted if he knew 1MDB fund were being misappropriated.

In an interview with Reuters, Najib said he had only wanted to do good for the country through the state investment firm.

"I didn't benefit from 1MDB, because I believe that the 1MDB was created to do something good for the country.

"If I knew there was going to be misappropriation of funds, if that was my knowledge, I would have acted," he was quoted as saying.

Najib was also asked if he blamed the 1MDB board for the troubles at the company.

"I am saying as a general principle, if they are in the know that something is not right, then it is incumbent upon them to tell me... It is the fiduciary duty of the board and the management to do the right thing. 

"I expect them to do the right and to follow the law," he said.

'Cannot pass judgement on Jho Low'

On businessperson Low Taek Jho, who investigators say is central to the 1MDB scandal, Najib said he cannot pass judgment on the financier.

"We have no control over what he does. I cannot pass judgement. But there are certain things which he may or may not have done. 

"But I am alright to say that investigations should proceed, and if anyone is found to be on the wrong side of the law, let the legal process take its course," he said.

Najib also denied that Low had acted on his behalf.

"No, he was not working on my behalf. All those items he never invoked my name, but he did say he was acting for someone else," he said.

As prime minister, Najib had sacked cabinet members who questioned him about 1MDB and the multibillion ringgit deposits in his personal bank accounts.

Two of these were Muhyiddin Yassin and Shafie Apdal, who went on to form their own parties and contributed to BN's unprecedented electoral defeat.

'I assumed everything was fine'

1MDB is a subject of international investigation due to its funds being laundered through the global financial system.

The US Department of Justice believes at least US$4.5 billion was misappropriated from 1MDB to benefit Malaysian officials and their associates – which includes the deposits in Najib's personal bank account.

However, Najib insisted these deposits, which entered his account shortly before the 13th general election, was a "donation" from a member of the Saudi royal family.

He said the money was intended for the general election.

"With the election coming, I did not want to get funding from companies because they would expect something in return eventually. 

"If I have a source of funding I could fund the elections, and I could also do a lot CSR (corporate social responsibility) work without being obligated to anyone. 

"That was my real intention you see. And I assumed everything was fine," he said. - Mkini