1MDB TRIAL | Businessperson Low Taek Jho has the power to appoint the chief executive officer (CEO) of 1MDB, its former CEO Mohd Hazem Abdul Rahman testified at the Kuala Lumpur High Court during the RM2.28 billion corruption trial of former prime minister Najib Abdul Razak today.
The 10th prosecution witness was testifying while under cross-examination by defence counsel Wan Aizuddin Wan Mohammed.
The lawyer was questioning the witness on why the latter stayed on as CEO in 1MDB from 2013 and 2015 despite frustrations with how the government-linked company was run.
Wan Aizuddin: Jho Low was in the position to decide who is the CEO (of 1MDB)?
Hazem: Yes.
Wan Aizuddin: He has that authority?
Hazem: Yes.
Yesterday during the trial, Hazem testified that fugitive Low was the one who “run” 1MDB via emailed instructions to the witness.
The witness also told the court that Low was able to do that as the culture at 1MDB then was as such to allow it to happen.
In today’s open-court proceedings, Hazem gave oral evidence that the culture at 1MDB was also in such a way that Low’s involvement in the running of 1MDB was kept out of the official written records of board meetings.
The witness, however, claimed that other board members were actually aware of Low’s involvement despite the businessperson not supposed to officially have any role in 1MDB affairs.
Hazem claimed that “everyone was aware that Jho Low’s name is not to be disclosed on record”, in reference to board meeting minutes among other written records.
The witness alleged that prior to him joining 1MDB as its chief operations officer (COO) in August 2012, he was told by Low to keep the latter's involvement in 1MDB off the written records.
Hazem claimed this was informed to him by Low during a meeting at a hotel in Putrajaya before the former joined 1MDB.
Wan Aizuddin: Were you not taken aback, as an honest business person, on the need to disclose (Low’s involvement) to the board?
Hazem: This is a culture that has been practised. This is not just any company, it is a government-owned company, and the one controlling it is the supreme power of the country.
Wan Aizuddin: Disclosure is important as it (1MDB affairs) deal with people’s money.
Hazem: Yes.
Wan Aizuddin: Did you not question him (Low) back? By saying ‘I am not your puppet’?
Hazem: This is his instruction. This (1MDB) is a company right on top of the PMO (Prime Minister’s Office)... the prime minister.
Najib was the prime minister from April 2009 until May 2018. He was also the then finance minister and chairperson of 1MDB board of advisers.
The sovereign wealth fund is a fully owned subsidiary of the Minister of Finance Incorporated (MoF Inc).
The 1MDB graft trial will resume before judge Collin Lawrence Sequerah around 9.15am tomorrow.
Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion of 1MDB's funds. - Mkini
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