Ex-1MDB chairman unhappy with US$700mil diversion, says former cop

 

The High Court heard that former 1MDB chairman Bakke Salleh and other board members were not happy with the US$1 billion joint venture agreement signed between 1MDB and Petrosaudi International Ltd in September 2009.

PUTRAJAYA: 

The High Court here was told today that former 1MDB chairman Bakke Salleh was unhappy with the diversion of US$700 million of the sovereign wealth fund’s monies in 2009.

Former 1MDB investigating officer R Rajagopal testified that Bakke expressed his unhappiness about the diversion when his statement was being recorded as part of the investigation.

Rajagopal, the former head of Bukit Aman’s commercial crime investigation department (CCID) said this when queried by Najib Razak’s lead counsel Shafee Abdullah at the former prime minister’s trial for the alleged misappropriation of RM2.28 billion in 1MDB funds.

“He (Bakke) said that he and the board were unhappy over the nature of the US$1 billion joint venture agreement signed between 1MDB and Petrosaudi International Ltd (PSI) in September 2009, as well as the diversion of US$700 million meant for the joint venture,” said the retired police officer.

Rajagopal, the 11th defence witness added that the US$700 million ended up in Good Star Ltd, which was owned by fugitive businessman Low Taek Jho or Jho Low.

On Oct 30 last year, Justice Collin Lawrence Sequerah ordered Najib to enter his defence, after ruling that the prosecution had established a prima facie case against him.

Najib, 71, faces 25 charges, including four counts of abusing his position to accept RM2.28 billion in bribes from 1MDB funds and 21 charges of money laundering involving the same amount.

The hearing continues tomorrow. - FMT