1MDB paid me RM25,000 per month as an adviser, Irwan tells Najib’s trial

 

Irwan Serigar Abdullah said following his tenure on the board of advisers, he took over as 1MDB chairman and was paid RM25,000 per month. (Bernama pic)

KUALA LUMPUR: Irwan Serigar Abdullah told the High Court in former prime minister Najib Razak’s 1MDB trial today that he was paid a monthly allowance of RM25,000 when he served for a period of two years on 1MDB’s board of advisers.

The former Treasury secretary-general said that the sum was paid to him between 2013 and 2015.  He said he was made a member of the advisory board in 2012, after taking over as secretary-general earlier that year,.  He continued to hold the post until the fall of the Barisan Nasional government in May 2018.

“1MDB (paid) me a sum of RM221,774 as backdated payment in August 2013.

“I never asked (to be paid allowance). It was 1MDB who issued the cheque to me,” Irwan said.

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Irwan told the court that between 2013 and 2016, Najib suspended the allowance to members of the board of advisers after the Public Accounts Committee (PAC) commenced its investigations into 1MDB.

“I (continued to) received a monthly allowance, which was also RM25,000, (in my capacity) as 1MDB chairman,” he added.  Irwan took over as 1MDB chairman from Che Lodin Wok Kamaruddin in 2016.

AS a result, Irwan said he received a total sum of RM300,000 during the period of suspension.

Asked by ad-hoc prosecutor Gopal Sri Ram whether the board of advisers met during his tenure, Irwan said no meetings were convened.

“I had asked the KSN (then chief secretary Ali Hamsa) whether there were meetings previously held by the board of advisers.

“He (Ali) told me he didn’t know (and) never attended any meeting,” Irwan added.

Sri Ram then asked about 1MDB’s joint venture with Aabar Investments PJS in 2012 to develop Tun Razak Exchange (TRX).

Goldman Sachs helped 1MDB to raise the US$3 billion, through bonds for the TRX, and the government guaranteed 1MDB’s TRX investment by way of a letter of support.

Irwan told the court that Najib’s then principal private secretary, the late Azlin Alias, informed him that the Treasury had been “slow” to process the necessary paperwork for the TRX project.

“I told Azlin that we (at the Treasury) had asked 1MDB to provide details of the project but they told us that they had given the information directly to the prime minister,” he said.

Sri Ram: Was any due diligence exercise done for this project?

Irwan: I conducted the due diligence in whatever way I could. I couldn’t say that we (the Treasury) cannot do it (as) the boss (had given) us a deadline.

Najib is standing trial on 25 counts of money laundering and abuse of power over the alleged misuse of 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.

The hearing continues before justice Collin Lawrence Sequerah on Wednesday. - FMT