Najib never directed US$1.03b 1MDB transfer to Jho Low entity: MACC officer

1MDB TRIAL | An MACC investigating officer testified that Najib Abdul Razak never directed any member of 1MDB’s management to transfer a total US$1.03 billion to offshore entity Good Star Limited linked to fugitive businessperson Low Taek Jho (Jho Low).

Nur Aida Arifin was replying during cross-examination by Najib’s defence counsel Wan Azwan Aiman Wan Fakhruddin during the full trial of the former prime minister over four counts of abuse of power and 21 counts of money laundering linked to RM2.27 billion of 1MDB funds.

As judge Collin Lawrence Sequerah presided over the Kuala Lumpur High Court proceedings today, Aida was grilled by Azwan over 1MDB transactions between 2009 and 2011.

The 49th prosecution witness agreed that based on documentary evidence, members of 1MDB’s management - its former CEO Shahrol Azral Ibrahim Halmi and three others - allowed the transfer.

The other three were 1MDB’s former chief financial officer (CFO) Radhi Mohamad, another former CFO Terence Geh, and former business development executive director Casey Tang.

Azwan: You agree that Najib has never instructed any individual from 1MDB’s management to transfer US$1.03 billion to Good Star?

Aida: Agreed.

In her previous testimony, she confirmed that a total of US$1.03 billion was transferred into the account of Good Star, which the prosecution contended was never a subsidiary of Petrosaudi International (PSI) from Saudi Arabia. 1MDB was in a joint venture with PSI.

Jho Low allegedly Najib’s proxy

Prosecutors contended that in September 2009, US$700 million of 1MDB’s portion of the joint venture money was diverted to Good Star and another US$330 million was transferred to the off-shore company in May 2011.

The prosecution also claimed that members of 1MDB’s management abided by directions from Low, who was contended to be a mirror image of Najib.

The trial before Sequerah resumes today and is expected to continue tomorrow and Saturday this week.

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 allegedly 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, Najib purportedly committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.

1MDB is fully owned by the Minister of Finance Incorporated (MOF Inc).

Najib was chairperson of 1MDB’s board of advisers. - Mkini