1MDB TRIAL | Najib Abdul Razak’s lawyers are expected to cross-examine Bank Negara Malaysia’s (BNM) money laundering trail expert tomorrow.
The former prime minister’s counsel Tania Scivetti informed the Kuala Lumpur High Court this afternoon, following BNM money trail analyst Adam Ariff Mohd Roslan having wrapped up his testimony.
Judge Collin Lawrence Sequerah, who is presiding over the RM2.28 billion 1MDB corruption trial against former finance minister Najib, was asking Scivetti whether Muhammad Shafee Abdullah would be available during the trial tomorrow.
Earlier during the trial today, Scivetti informed the criminal court that Shafee was unable to attend proceedings today as he was unwell and on medical leave.
Sequerah: Is Shafee available for cross-examination (of Adam) tomorrow?
Scivetti: Shafee is available for cross-examination tomorrow.
Shafee had previously informed the court that Najib's defence team would raise the issue of whether the 29-year-old Adam is qualified to be an expert in financial matters, among others.
During his six-day stint on the witness stand including today, Adam testified on the intricate and convoluted international monetary trail that allegedly involved RM2.28 billion of 1MDB funds ending up in Najib’s personal account over four phases from 2011 to 2014.
Adam’s testimony went into detail on the breakdown of the transactions, among them that; a “Prince Faisal” from Saudi Arabia transferred US$20 million (RM60.6 million at the time) in 2011; company Blackstone Asia Real Estate Partners transferred US$30 million (RM90 million as of the exchange rate minus banking transfer fee back then) in 2012.
He also mentioned Tanore Finance Corporation transferred US$681 million (RM2 billion at the time) into the accused’s account in 2013, and that Blackrock Commodities (Global) Ltd and Vista Equity International Partners Ltd (Barbados) transferred a total of RM49 million into Najib’s account in 2014.
‘Najib’s alter ego and mirror image’
In the prosecutors’ opening statement at the beginning of the trial in 2019, they contended that Tanore, Blackstone, Vista, and Blackrock are owned by Eric Tan, an alleged close associate of fugitive businessperson Low Taek Jho (Jho Low), and that Low was purportedly Najib’s “alter ego and mirror image”.
Najib is on trial over four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion from 1MDB, a sovereign wealth fund fully owned by the Minister of Finance Incorporated (MOF Inc).
For the four abuse of power charges, the former Pekan MP is alleged to have committed the offences at AmIslamic Bank Bhd’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.
On the 21 money laundering counts, the accused is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013. - Mkini
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