RM3.3 Million Spent In One Day Using Najib Razak’s Credit Cards, Bank Says

(CNA) – Two credit cards belonging to former Malaysia prime minister Najib Razak were used for a RM3.3 million (US$803,000) shopping spree at a jewellery store, the Kuala Lumpur High Court heard on Monday (Jul 15).

Ambank senior vice-president in charge of credit card authorisation and fraud management Yeoh Eng Leong, 58, said that the purchases took place at De Grisogono, a Swiss luxury jeweller, in Italy on Aug 8, 2014.

Mr Yeoh was speaking on the 37th day of the former premier’s trial in relation to the misappropriation of RM42 million of funds from SRC International, a former unit of scandal-hit state fund 1Malaysia Development Berhad (1MDB).

The Ambank executive said RM456,000 was spent using a Visa Platinum credit card while RM2.86 million was spent using a Mastercard Platinum credit card.

Mr Yeoh also told deputy public prosecutor Budiman Lufti Mohamed that the two cards had a combined credit limit of RM3 million, and that a payment of nearly RM450,000 was made to the Visa card while RM2.83 million was paid to the Mastercard.

In early January 2015, the cards were used to spend another RM466,000 at Chanel in Hawaii, Mr Yeoh said.

The cards were also used to pay RM127,000 at Shangri-La Hotel in Bangkok, he said.

During cross-examination by Najib’s lawyer Harvinderjit Singh, Mr Yeoh agreed that according to a credit card statement dated April 2015, the last payment was made by a person named Nik Faisal Ariff Kamil (pic), who was the former CEO of SRC International.

But when examined by the prosecution, Mr Yeoh said all the payments came from Najib’s Ambank account.

Najib, 66, is facing three counts of criminal breach of trust, one count of abusing his position and three counts of money laundering involving SRC International funds amounting to RM42 million.