1MDB TRIAL | A bank branch manager testified today that no red flag was triggered by the transfer of US$620 million (RM2.03 billion) out of Najib Abdul Razak’s account in August 2013.
The manager of AmBank’s branch at Jalan Raja Chulan, R Uma Devi (above) told the Kuala Lumpur High Court that this was the reason why the transaction linked to the former prime minister was not stopped then.
The 37th prosecution witness was testifying during the RM2.28 billion 1MDB corruption trial against Najib, who also used to be the finance minister and the chairperson of the board of advisers of the Malaysian sovereign wealth fund.
Her answer came during cross-examination by the accused’s defence counsel Wan Aizuddin Wan Mohammed.
Back in 2016, then attorney-general Mohamed Apandi Ali cleared Najib of wrongdoing in the 1MDB affair, claiming that Najib had received US$681 million (RM2.08 billion) in donations from Arab royalty and had returned US$620 million of the donation.
Previously, during the RM2.28 billion 1MDB graft trial, Uma Devi testified that RM2.08 billion went into Najib’s account ending with 694 in nine tranches between March and April 2013 and that RM2.03 billion flowed out via five transactions between Aug 2 and Aug 23, that year.
While being questioned by Aizuddin today, the witness said that the transfer out in August 2013 did not trigger the commercial bank’s anti-money laundering alert as laid down by Bank Negara.
Uma Devi explained that per the system in place back then, the trigger point for such an alert is related to the amount involved, the stated purpose of the transaction and the disclosure by the account holder of the reason for the transfer.
(The witness is testifying based on documents held by the bank branch as of 2015, as she was only transferred to the branch that year).
When Aizuddin asked if the bank would inform the customer if such an alert is triggered, she said no as that would amount to tipping off the account holder while the bank is investigating the matter.
Wan Aizuddin: The US$620 million (transferred out) was not stopped?
Uma Devi: Nothing was done to stop it (she said based on the bank documents before her).
Proceedings before trial judge Collin Lawrence Sequerah would resume this afternoon.
The charges
Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion from 1MDB.
In relation to the four abuse of power charges, the Pekan MP was alleged to have committed the offence at AmIslamic Bank Berhad’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.
On the 21 money laundering counts, Najib is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.
In the prosecution's opening statement at the beginning of the trial back on Aug 28, 2019, lead deputy public prosecutor Gopal Sri Ram contended that the crime was allegedly committed through four phases spanning from 2011 to 2014.
Prosecutors contended that the first nine money laundering charges relate to alleged receiving of RM2,081,476,926 which forms the subject matter of the amended third charge and that the monies purportedly fell into the accused's account ending 694 with AmIslamic Bank.
The prosecution claimed that between Aug 2, 2013, and Aug 23, 2013, the accused transferred a sum of RM2,034,350,000 to Tanore Singapore.
Prosecutors alleged that simultaneously, the accused had used the balance of RM22,649,000 to pay four entities and one individual, as the prosecution's case is that all these payments purportedly benefitted the accused.
The prosecution contended that the wrongdoing at 1MDB was carried out by fugitive businessperson Low Taek Jho (Jho Low) and several others, with Najib’s blessing.
The accused’s defence team, however, claimed that the former prime minister had no knowledge of the crime perpetrated at 1MDB and the embezzlement was solely masterminded by Low and other members of the fund’s management.
Uma Devi also previously testified for the prosecution in a separate criminal trial against Najib involving RM42 million of funds from SRC International Sdn Bhd, a former subsidiary of 1MDB.
Both 1MDB and SRC International are fully owned by the Minister of Finance Incorporated (MOF Inc).
Najib also used to be adviser emeritus to SRC International.
The BN advisory chairperson is serving a 12-year jail sentence, after the Federal Court on Aug 23 dismissed his appeal against the SRC International conviction over seven criminal charges, as well as the custodial term and RM210 million fine in lieu of an additional five years in jail. - Mkini
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