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The world’s biggest kleptocrat Najib “1MDB” Razak is given VVIP treatment as he is escorted to court by police.
Government continues to treat disgraced and shameless former premier Najib ‘1MDB’ Razak as a VVIP kleptocrat
KUALA LUMPUR, March 12, 2024: The High Court today ordered the prosecution in former prime minister Najib Razak’s RM27 million SRC International money laundering case to prepare and serve all witness statements on the defence by May 20.
However, the Attorney-General (A-G) is shockingly still undecided on representations by the defence calling for the charges to be dropped, the prosecutor told the court.
Why is the A-G so slack in the case?
Meanwhile, the Madani Unity Government (UG) continues to treat the world’s biggest kleptocrat as a VVIP - escorted to court without handcuff and the infamous orange suit.
Currently still serving a 12-year jail sentence, Najib continues to appear in court clad in full lounge suit and tie.
If this is clearly not special treatment for a jailbird, what is?
No News Is Bad News reproduces below a news report on the court hearing:
Prosecution to call 25 witnesses in Najib’s SRC money laundering trial
-12 Mar 2024, 10:51 AM
Attorney-General still undecided on representations by the defence calling for the charges to be dropped, prosecutor tells court.
Najib Razak’s trial on three money laundering charges involving RM27 million will begin on Sept 17. (Bernama pic)
KUALA LUMPUR: The High Court has ordered the prosecution in former prime minister Najib Razak’s RM27 million SRC International money laundering case to prepare and serve all witness statements on the defence by May 20.
Justice K Muniandy also fixed the case for further mention on May 27.
Earlier deputy public prosecutor Ashrof Adrin Kamarul requested a three-month period to prepare and serve the witness statements.
“In total, there are 20 to 25 witnesses.
“I’m in the midst of preparing the witness statements and I have informed the counsel for more time to prepare,” he said.
Ashrof said that not all the witnesses are available in the Klang Valley. Investigators are in the midst of locating the whereabouts of some of them, he added.
However, Muniandy ordered the prosecution to speed up its preparation.
Meanwhile, Ashrof also told the court that the Attorney-General has not made any decision on representations filed on Najib’s behalf seeking that the charges be dropped.
Lead defence counsel Shafee Abdullah previously said the representations had been filed in August last year.
The trial is set to run from Sept 17 to 19 and Sept 23 to 24.
On Feb 3, 2019, Najib claimed trial to three money laundering charges in which he is said to have accepted proceeds from illegal activities amounting to RM27 million through three AmPrivate banking accounts.
He is alleged to have committed the offences at AmIslamic Bank Berhad at the AmBank Group building at Jalan Raja Chulan on July 8, 2014.
If found guilty, he faces a maximum fine of RM5 million or imprisonment of up to five years, or both, for the charges framed under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
On Aug 23 last year, the Federal Court upheld Najib’s conviction for misappropriating SRC funds of RM42 million. The apex court also upheld the sentence of 12 years imprisonment and a fine of RM210 million imposed on him.
US$120 million from KWAP ended up in Najib's account, court told
By Dawn Chan - March 11, 2024 @ 6:53pm
Financial investigations expert Angela Barkhouse testified that US$120 million made its way into former prime minister Datuk Seri Najib Razak’s account. - NSTP/Rohanis Shukri
KUALA LUMPUR: A total of US$120 million in funds loaned to SRC International Sdn Bhd from the Retirement Fund Inc (KWAP) made its way into former prime minister Datuk Seri Najib Razak's AmBank account, the High Court was told today.
Financial investigations expert Angela Barkhouse said her basis for saying so lied in three transactions involving money Najib received between December 2011 and May 2012.
The offshore asset recovery specialist, who is the second witness in the SRC International suit, said Najib, received US$70 million on Dec 29, 2011, and US$25 million each on March 12, 2012, and May 22, 2012.
"I have reviewed bank statements for Najib's AmBank Private Banking account and have been able to approximately match incoming amounts in Ringgit Malaysia to the transactions out of the Blackstone (Asia Real Estate Partners) account in US$ by applying a currency conversion," she testified during an online proceedings from the Cayman Islands before judge Datuk Ahmad Fairuz Zainol Abidin.
She said there were transactions from SRC International Ltd BSI Bank Singapore to Enterprise Emerging Markets Fund and then to Blackstone before the US$120 million ended up in Najib's AmBank account.
Barkhouse, who is SRC BVI liquidator, said what Najib had received was out of the sum of US$506.9 million received by Blackstone, derived from investment companies, Cistenique Investment Fund and Enterprise.
Blackstone, she said, appeared to be a shell company that conducted no legitimate business, other than to launder funds misappropriated from 1Malaysia Development Berhad and SRC International.
She testified that former SRC International chief executive officer Nik Faisal Ariff Kamil received US$82,000 from Blackstone between Jan 27, 2012 and Feb 8, 2012.
However, she said she was still unable to identify the bank account to which these payments were made.
She said there was movement of funds out of Blackstone to various intermediaries involved in the fraud against SRC.
This included US$6 million to the BSI Bank account of Abu Dhabi Kuwait Malaysia Investment Corporation between Feb 15, 2012 and March 9, 2013, a British Virgin Island (BVI) incorporated company reportedly controlled by fugitive businessman Low Taek Jho or Jho Low.
There was also US$168.5 million to the Standard Chartered Bank of Alsen Chance Holdings Limited between Feb 10, 2012 and Jan 8, 2013.
Alsen Chance is a BVI-incorporated company owned by Low's associate, Tan Kim Loong, being the sole director and shareholder.
Of the US$168.5 million transferred to Alsen Chance, US$17.5 million went into Red Granite Capital Ltd's BSI Bank account between Feb 15, 2012, and May 22, 2012, which was beneficially owned and controlled by Najib's stepson, Riza Aziz.
"US$32.4 million was transferred to Brightstone Jewellery Limited from Blackstone (US$24.8 million) and Alsen Chance ($7.6 million).
"The entirety of these funds was paid to vendors of jewellery and other high-value goods, between February 13, 2012 and January 22, 2013," she said.
Barkhouse added that Cistenique had transferred US$14.9 million to Affinity Equity International Partners Limited, which she believed functioned like Blackstone to launder funds.
Of the sum, she said US$1.75 million was transferred out of Affinity to Blackrock Commodities (Global) Ltd on Apr 11, 2014.
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