Defence paints Najib’s ex-aide as sole owner of ‘fake’ IPIC subsidiary

NAJIB TRIAL | Najib Abdul Razak’s then-special officer Amhari Efendi Nazaruddin is the owner of the “fake” International Petroleum Investment Company (IPIC) subsidiary that received hundreds of million dollars in a 1MDB-linked deal, the Kuala Lumpur High Court heard today.

In the 10th day of the former premier’s 1MDB criminal trial, lead defence counsel Muhammad Shafee Abdullah attempted to prove that witness Amhari was the sole shareholder of Aabar Investments PJS BVI (Aabar BVI).

Aabar BVI is purported to have been set up in part by fugitive businessperson Low Taek Jho, or Jho Low, together with rogue officials from the true Aabar - the legitimate subsidiary of IPIC.

It was previously reported that US$577 million was allegedly diverted to the imposter company, Aabar BVI, in 2012.

During cross-examination of the witness, Shafee put to Amhari that the latter owned the company through Tycoon Gain Ltd, which also owned Aerosphere Ltd.

It was stated earlier in the trial that Aerosphere was Amhari's company through which he had opened an account with BSI bank in Singapore under Low's instructions.

Amhari, however, denied knowledge of this despite agreeing that documents presented indicated Tycoon Gain and Aerosphere Ltd were using the same office as they shared the same address.

Shafee: This is what they call the fake Aabar - Aabar BVI - (and) you are the sole shareholder?

Amhari: I don’t know.

Shafee: [...] I’m putting to you that as Aerosphere is owned by Tycoon Gain Ltd, (and) Aabar Investments PJS Ltd here is owned by the same company, which means you are the owner of Aerosphere Ltd, as well as Aabar Investments PJS Ltd.

Amhari: I don't know this.

Shafee later accused Amhari of concealing information about his ownership of Aabar BVI from MACC and the court to conceal his role in the 1MDB scandal.

Shafee: You are aware of this, but you are actively concealing from us, MACC and the prosecution. You are concealing your involvement in this 1MDB spectacle.

Amhari: I disagree.

Shafee: You worked hand-in-hand with Jho low from the beginning, hence the reason why Najib was kept misinformed by you and Jho Low working in tandem.

Amhari: I disagree.

Shafee: [...] You owned the fake Aabar, hence you worked with Jho Low to go to Abu Dhabi to hide the truth and that the prime minister did not know (of it).

Amhari: I disagree.

The 43-year-old Amhari was testifying in front of Justice Collin Lawrence Sequerah.

Najib, who is the former prime minister and finance minister, faces 25 charges of receiving RM2.28 billion originating from 1MDB through Tanore Finance Corp, a company owned by Eric Tan, who is a close associate of Low.

The prosecution is led by former Federal Court judge Gopal Sri Ram. - Mkini