1MDB TRIAL | Najib Abdul Razak never disclosed to 1MDB’s board of directors or management that he received billions of ringgit in monies belonging to the Malaysian sovereign wealth fund, its former chief financial officer testified.
Twelfth prosecution witness Azmi Tahir also told the Kuala Lumpur High Court this afternoon that the former premier and finance minister also never reprimanded him for following Low Taek Jho’s directions regarding financial transfers out of the fund.
During the RM2.28 billion 1MDB corruption trial against Najib, Azmi gave this testimony in reply to questions put forth during re-examination by deputy public prosecutor Gopal Sri Ram.
Sri Ram, who used to be a federal court judge, showed several banking transactions involving 1MDB and multiple international entities between 2013 and 2014 - among them Granton Property Holding Limited, Tanore Finance, and Vista Equity Partners Limited (Barbados).
Granton, Tanore, and Vista Equity were allegedly controlled by Eric Tan Kim Loong, a purported associate of key 1MDB figure and fugitive Low, also known as Jho Low.
The prosecution contended that through a convoluted monetary flow as part of alleged money laundering, billions of ringgit of 1MDB funds were siphoned from the fund and into Najib’s bank accounts, namely the 680 and 880 accounts.
While being shown various bank records by Sri Ram, Azmi agreed that US$681 million of 1MDB funds ended up in Najib’s 694 account between March 21 and April 10, 2013.
The witness also concurred with the prosecutor that over RM45 million in funds from 1MDB went into Najib’s 880 account via five tranches between Oct 23 and Dec 19, 2014.
Sri Ram: Did in any meeting between you and him (Najib) as part of (1MDB) management or with the board, did he disclose he received these monies?
Azmi: Never.
In reply to a series of questions from Sri Ram, Azmi denied ever having received a single sen from 1MDB during his tenure as CFO from 2012 to 2017.
The witness also agreed with the DPP that Najib never confronted him for abiding by directions from Low regarding the transfer of funds out of 1MDB.
Sri Ram: Did Najib ever reprimand you for having done this (follow Low’s instructions)?
Azmi: Never.
Previously, Azmi testified he followed Low’s instructions as he believed the businessperson represented Najib.
Najib’s defence team previously contended that the accused had no knowledge of wrongdoing at 1MDB and that the embezzlement was solely masterminded by Low and other members of the fund’s management, including Azmi.
By contrast, the prosecution claimed the wrongdoing at 1MDB was done by Low under the authority of Najib.
Proceedings before judge Collin Lawrence Sequerah continues this afternoon with the defence team continuing the cross-examination of 1MDB’s former company secretary Lim Poh Seng, who is the prosecution’s 18th witness.
The trial is also scheduled to run from tomorrow until Thursday (May 19).
Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion of 1MDB’s funds.
Besides being a former premier and finance minister, Najib also used to be the chairperson of 1MDB’s board of advisors. - Mkini
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