The former prime minister said the transaction might have been connected to purported bribes paid to a company linked to the husband of former BNM governor Zeti Akhtar Aziz, as disclosed by former banker Tim Leissner in court proceedings in New York.
“I came to know during this trial that Jho Low (Low Taek Jho) instructed (law firm) Sherman and Sterling to pay over US$6.9 million to Iron Rhapsody, owned by Tawfiq Ayman (Zeti’s husband),” Najib said during his evidence-in-chief.
He said the Malaysian Anti-Corruption Commission (MACC) refused to pursue cases against Tawfiq or Zeti over the matter, leaving them “untouched by any form of accountability”.
“Instead, I was singled out,” said Najib.
Zeti, who testified as a prosecution witness, denied their involvement in any corrupt act.
She said it was Tawfiq who reported the presence of a suspicious transaction involving his company’s account at a Singapore bank after becoming aware from “open source information” of its likely dubious origins.
Najib said BNM ought to have enquired about the money’s destination as “the receiving party kept changing” and the “disbursement of funds was altered”.
The court had previously heard how 1MDB had in 2009 entered into a joint venture with PetroSaudi International Ltd (PSI) pursuant to which it was required to invest US$1 billion.
The entire sum was supposed to be deposited into a bank account jointly held by 1MDB and PSI, but only US$300 million was remitted.
It was later revealed that the remaining US$700 million was transferred to Good Star Ltd, a company controlled by Low.
No 1MDB discussions on yacht with Arab royal, says Najib
Najib also denied holding any discussions involving 1MDB during an “informal” meeting with members of a Middle Eastern royal family in 2009.
He said his former officer, Wan Ahmad Shihab Wan Ismail, had informed him that Prince Turki had invited Najib and his family on board the RM Elegance, a yacht owned by the Kuwaiti royal.
“Jho Low never spoke to me directly about this,” said Najib.
Shihab had previously testified that Low had asked him to make arrangements for the meeting, which another prosecution witness, investigating officer Nur Aida Arifin, said had not followed proper channels.
Najib told the court he met Prince Turki for the first time on board the yacht. He said PSI director Tarek Obaid and Low were also present.
The former prime minister said Low’s presence on board the yacht did not surprise him as the businessman had close ties with the royal family.
“It was more like a get-to-know session. When you meet someone for the first time, you won’t talk business with them,” said Najib.
Najib also dismissed Aida’s contention that the meet-up did not follow proper channels as being without basis.
“How could I be brazen enough to hatch a plan when meeting someone for the first time?”
Najib is standing trial for 25 counts of money laundering and abuse of power charges over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.
The hearing continues before Justice Collin Lawrence Sequerah tomorrow. - FMT
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