Banker doesn’t know if private client instructed RM49m transaction

 

1MDB TRIAL | An AmBank officer today testified she had no knowledge of whether a private client gave the greenlight for over RM49 million in foreign exchange (FX) transactions.

During the RM2.28 billion 1MDB corruption trial against Najib Abdul Razak, the bank’s senior manager of FX sales department Rosliza Ishak said she only directly dealt with the private client’s relationship manager Joanna Yu.

While under cross-examination by the former prime minister’s counsel Wan Aizuddin Wan Mohammed, the 25th prosecution witness said her dealings with Yu were over the six foreign exchange transactions between June 23 and Dec 19, 2014.

Rosliza said her unit received the instructions to input the orders for the foreign exchange transactions involving the two private client accounts, AmPrivate Banking-MR and AmPrivate Banking-1MY.

She agreed with Aizuddin that she did not know who was the owner of the two private client accounts back then as the bank has a policy of restricted access to the identities of private clients.

Aizuddin: When you were instructed then, were you told it was Najib’s accounts?

Rosliza: No, I did not know whether it was Najib’s accounts then. I only knew when the investigations began.

Aizuddin: But not during the material time (in 2014)?

Rosliza: Yes.

In reply to a question from Aizuddin on whether she knew for a fact that Yu had actually informed the private client about the transactions, Rosliza said she was not privy to the actual conversations between Yu and the private client.

During the RM42 million SRC International corruption case against Najib before a separate court, Yu testified for the prosecution that she was the relationship manager for Najib.

The former premier’s defence team, in that case, had contended that Najib had no knowledge of the wrongdoing at SRC, and that Yu was allegedly taking orders from businessperson Low Taek Jho (Jho Low).

Businessperson Jho Low

The foreign exchanges involved transfers from international entities Vista Equity International Partners and Blackrock into the accounts of AmPrivate Banking 1MY and AmPrivate Banking MR.

It was previously reported that Vista Equity and Blackrock, which were based in the Seychelles and Barbados respectively, were allegedly linked to Low.

The six transactions are contended by the prosecution to be part of the four abuse of power charges faced by Najib.

Power abuse, money laundering

Proceedings before trial judge Collin Lawrence Sequerah continues tomorrow.

The accused 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 the former premier and finance minister, Najib also used to be the chairperson of 1MDB’s board of advisers. 1MDB is wholly owned by the Minister of Finance Incorporated.

The Pekan MP was alleged to have committed the four counts of corruption at AmIslamic Bank Berhad’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.

In regard to the 21 money laundering charges, Najib is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.

The prosecution contended that the wrongdoing at 1MDB was carried out by Low with the blessing of Najib.

The accused’s defence team however claimed that he had no knowledge of the crime perpetrated at 1MDB and that the embezzlement was solely masterminded by Low and other members of the fund’s management. - Mkini