I didn’t check with Najib over foreign funds in account, says ex-banker

 

Former prime minister Najib Razak is facing 25 counts of money laundering and abuse of power over alleged 1MDB funds amounting to RM2.28 billion.

KUALA LUMPUR: A former AmBank manager did not check with Najib Razak personally when foreign funds were deposited into the former prime minister’s bank accounts, the High Court heard today.

Prosecution witness Joanna Yu said she did not call Najib to brief him on such matters as then 1MDB chief investment officer Nik Faisal Ariff Kamil had been tasked to manage the former prime minister’s accounts on his behalf between 2011 and 2015.

“We (AmBank) did not have direct access to Datuk Seri,” the former relationship manager said during cross-examination by Najib’s lead counsel Shafee Abdullah.

In response, Shafee suggested that Nik Faisal was not authorised to negotiate exchange rates for foreign currency deposits on Najib’s behalf.

He also said that Nik Faisal was only given the mandate to enquire into the status of Najib’s accounts, obtain bank statements as well as give approval for cheques above RM250,000 to be cleared.

“You knew this was wrong all this while, and those transactions were wrong,” Shafee told the witness.

Yu then said she did not know if Nik Faisal checked with Najib on foreign exchange rates.

The witness also told the court that fugitive businessman Low Taek Jho (commonly known as Jho Low) had claimed in conversation with her that he was a graduate of the University of Pennsylvania’s Wharton School of Business.

Shafee: He told you he graduated from Wharton?

Yu: Yes.

Shafee: He never graduated from Wharton. He was a dropout. Did you know that?

Yu: No.

Yu testified that Jho Low had the tendency to “drop names” of foreign VIPs when at meetings with other people.

“He would mention to someone (during the meeting) that he was going to meet a Saudi prince or a Kuwaiti leader.

“I don’t recall if he named anyone. I let it pass as it did not matter to me,” Yu added.

Najib is facing 25 counts of money laundering and abuse of power over alleged 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. - FMT