1MDB TRIAL | 1MDB’s former general-counsel Jasmine Loo testified that she did not suspect fugitive businessperson Low Taek Jho (Jho Low) of being involved in embezzling funds from 1MDB as the latter was already a rich man.
During today’s RM2.27 billion 1MDB corruption trial against former prime minister Najib Abdul Razak, the 50th prosecution witness explained why she did not question the US$9 million transferred into her two Swiss bank accounts between 2012 and 2013.
While under cross-examination by Najib’s lead defence counsel Muhammad Shafee Abdullah, Loo said the money in the two Swiss bank accounts had since been forfeited by the US authorities in a forfeiture court action, following a consent order she agreed to.
The 50-year-old admitted that Low deposited the money into her account and that it was US authorities that forfeited the funds on the allegation that the money was embezzled from 1MDB.
Loo: I do not agree, I believed at the time it (deal) was genuine, I trusted Low at that time.
Shafee: Strange. My client also thought the same (trusted Low). You said Low did all this without (Loo) knowing where the money came from?
Loo: He was already a rich man then, and already got millions (of ringgit). I did not think (then that) he took money from 1MDB. He claimed that he had a business and was managing business for Arabs and other people.
Loo returned to Malaysia last year after being overseas since early 2018.
Low last seen in China
Meanwhile, Loo testified that she last saw Low face-to-face in Shanghai, China in 2017, and that the fugitive businessperson messaged her last year.
The prosecution witness said that the last time she was in touch with Low was in March last year, four months before she returned to Malaysia.
She said that Low was communicating with her last year via two smartphone messaging apps, namely WeChat and Wickr.
In relation to her meeting with Low in Shanghai in early 2017, the witness said she went to see him to discuss the then United States Department of Justice (DOJ) 1MDB-linked forfeiture suit against her.
Loo explained that the US authorities sought to seize assets such as properties in London under her control via several companies, as well as bank accounts.
She said that there was also the US forfeiture suit against her involving a Picasso painting.
The trial before judge Collin Lawrence Sequerah resumes on April 1.
Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.27 billion from 1MDB.
For the four abuse of power charges, the former Pekan MP is alleged to have committed the offences at AmIslamic Bank Bhd’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.
On the 21 money laundering counts, the former finance minister is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013. - Mkini
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