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Najib’s 1MDB trial: RM49m that 1MDB forrowed went into Najib’s account

November 15, 2021

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About RM49 million went into Najib Razak’s Ambank account as a result of transactions related to 1MDB Energy Holdings Ltd, the subject matter of the fourth power abuse charge faced by the former prime minister, the High Court heard today.

Former 1MDB CEO Mohd Hazem Abdul Rahman confirmed the amount that was deposited into Najib’s account, when re-examined by ad hoc prosecutor Gopal Sri Ram.

Sri Ram: Based on exhibits shown to you, can you confirm about RM49 million went into the accused’s bank account?

Hazem: Yes.

Earlier, Hazem, the 10th prosecution witness, said he had to follow Low Taek Jho’s instructions as the fugitive financier, also known as Jho Low, was the “PM’s man”.

He said this when Sri Ram asked him to clarify his statement when under cross-examination that he did not manage 1MDB according to its constitution and the Companies Act.

Sri Ram: You agreed with the suggestion put by the defence. Now, can you tell us what was the real situation on the ground?

Hazem: I had to follow Jho Low’s instructions. To me, Jho Low was the PM’s man as he was carrying out Najib’s instructions.

Hazem said he never received any instructions from Najib to disobey Jho Low’s directives.

In the prosecution’s opening statement on Aug 28, 2019, Sri Ram had said an important character in the 1MDB charade was Jho Low, a “fugitive from justice” who was first involved in the Terengganu Investment Authority and later in 1MDB.

Sri Ram said the prosecution would prove that Najib, by his words and conduct, made it clear to 1MDB’s officers, its board and others that Jho Low was his alter ego.

In truth, he said, Jho Low was Najib’s mirror image.

He said the prosecution would establish facts “which will give rise to an irresistible inference that Jho Low and Najib acted as one at all material times”.

Today, Hazem said Najib and Jho Low were “very, very close”.

“This was my observation when I was at Najib’s private residence at Taman Duta on Nov 28, 2013, for a meeting. Jho Low was also there,” he said.

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

The hearing before High Court judge Collin Lawrence Sequerah continues tomorrow. – FMT

Earlier reports:

Nov 11, Najib’s 1MDB trial: Najib had ultimate power in 1MDB

Nov 9, Najib’s 1MDB trial: 1MDB was run like a ‘Petaling Street coffee shop’

May 20, Najib’s 1MDB trial: US$2.7b became US$60,000 in just months but CEO kept mum

May 17, Najib’s 1MDB trial: Ex-1MDB CEO suspected illegal activities between Najib and Jho Low

Feb 15, Najib’s 1MDB trial: Ex-1MDB CEO believes UMNO benefited from 1MDB

Feb 15, Najib’s 1MDB trial: 1MDB’s senior executive meetings held in Jho Low’s apartment

Feb 10, Najib’s 1MDB trial: Najib claimed Saudi prince “donated” to 1MDB’s charity arm

Feb 9, Najib’s 1MDB trial: Najib received RM2.973b from 1MDB

Feb 9, Najib’s 1MDB Trial: Jho Low known as “PMO” in 1MDB board meetings was “the man”

Feb 8, Najib’s 1MDB Trial: Ex-CEO says in 1MDB, you either follow instructions or quit