1MDB TRIAL | Former Bank Negara governor Zeti Akhtar Aziz has testified that former AmBank CEO Ashok Ramamurthy tried to conceal wrongdoing at the commercial bank during his tenure.
The prosecution witness said this during re-examination by deputy public prosecutor Ahmad Akram Gharib during today’s RM2.27 billion 1MDB power abuse and money laundering trial against former premier Najib Abdul Razak.
"He (Ashok) wanted to cover up wrongdoing during his time as CEO of Ambank because if he had seen any wrongdoing when he took office, he should have taken action," Zeti told judge Collin Lawrence Sequerah at the Kuala Lumpur High Court.
Prosecutors contended that AmBank was where Najib's bank account received billions of ringgit embezzled from 1MDB.
Zeti said that the commercial bank did not perform due diligence in multiple transactions linked to 1MDB, to the extent of misreporting the sums involved when fabricating the reporting of the transactions in the nation's banking monitoring system.
The former governor testified that the central bank fined Ambank in 2015 with 70 percent due to what transpired during Ashok's tenure at Ambank.
Ashok joined the Malaysian banking group in 2007, first as chief financial officer before taking on the top position in 2012. He resigned as its group managing director in January 2015.
Charges
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.
Minister of Finance Incorporated fully owned 1MDB where Najib was the board of advisers’ chairperson.
The accused was first charged on Sept 20, 2018, and his criminal trial began on Aug 28, 2019.
The prosecution has closed its case today, and the criminal court has set oral submissions from Aug 19 to 22. - Mkini
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