Najib believed offshore entity owned by late Saudi king: MACC officer

 

1MDB TRIAL | An MACC investigating officer agreed that Najib Abdul Razak believed that the late Saudi ruler King Abdullah owned an off-shore entity from which over RM90 million flowed into the former prime minister’s Malaysian bank account in 2012.

Nur Aida Arifin told the Kuala Lumpur High Court that this was what the former finance minister told MACC during interrogation in 2018.

In today’s RM2.27 billion 1MDB power abuse and money laundering case against Najib, the 49th prosecution witness was replying to cross-examination by defence counsel Wan Azwan Aiman Wan Fakhruddin.

Wan Azwan: Najib told MACC officers about his belief that Blackstone Asia Real Estate Partners was controlled or owned by King Abdullah of the government of Saudi Arabia. When his (Najib) statement was being recorded by MACC officers, (do you agree) Najib was never confronted with any documents to show that Blackstone Asia Real Estate Partners was beneficially owned by Tan Kim Loong?

Nur Aida: Agreed.

Wan Azwan: (Do you agree) Najib never directed Tan Kim Loong to transfer RM90,899,927.28 million into his account at Ambank?

Nur Aida: Agreed.

Najib’s defence team previously contended that the former finance minister believed that the billions of ringgit that flowed into his bank account were donations from the Saudi royal family.

The accused’s lawyers also claimed that billions of ringgit of the unutilised portion of the Saudi donation had been returned.

Over RM90m in embezzled funds

Born in 1924, King Abdullah reigned in Saudi Arabia from 2005 until he died in 2015.

Prosecutors however contended that the accused in 2012 received a total of over RM90 million of embezzled 1MDB funds via Seychelles-based Blackstone Asia Real Estate Partners, which was allegedly owned by fugitive Tan.

Tan is a purported associate of businessperson Low Taek Jho (Jho Low), who is also at large and wanted by Malaysian authorities to assist in investigations into the 1MDB affair.

The prosecution contended that the RM90 million gratification was obtained when Low gave directions to 1MDB, at the behest of Najib, to acquire assets of dubious value.

The trial before judge Collin Lawrence Sequerah resumes on Tuesday next week.

Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.27 billion from 1MDB.

For the four abuse of power charges, the former Pekan MP allegedly 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, Najib purportedly committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.

1MDB is fully owned by the Minister of Finance Incorporated (MOF Inc).

Najib was chairperson of 1MDB’s board of advisers. - Mkini