Kleptocrat jailbird Najib to know his fate from Aug 19 on 25 charges of corruption in 1MDB

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Kleptocrat jailbird Najib to know his fate from Aug 19 on 25 charges of corruption in 1MDB

KUALA LUMPUR, May 30, 2024: Disgraced and shameless former prime minister Najib “1MDB” Razak will be offered 49 prosecution witnesses should he be told to enter his defence.

The 70-year-old convicted kleptocrat and jailbird was on trial facing 25 charges - four for abuse of power that allegedly brought him the financial benefit to the tune of RM2.28 billion; and 21 for money laundering involving the same amount of money.

The prosecution told the High Court today that it was closing its case after 235 days to present its entire case.

Oral submissions will be held over four days from Aug 19.

No News Is Bad News reproduces below a news report on the court proceedings:

Prosecution in Najib’s 1MDB trial closes case after 235 days

V Anbalagan-30 May 2024, 06:16 PM

Najib Razak will be offered 49 prosecution witnesses should the ex-prime minister be told to enter his defence.

 Najib is facing 25 charges of abuse of power and money laundering involving RM2.28 billion in 1MDB funds deposited into his AmBank accounts between February 2011 and December 2014. (Bernama pic)

KUALA LUMPUR: The prosecution in Najib Razak’s 1MDB corruption trial has closed its case after calling 50 witnesses.

Deputy public prosecutor Ahmad Akram Gharib, who is leading the prosecution team, said it would offer 49 witnesses to Najib, should the former prime minister be directed to enter his defence.

“We are informing the court that the prosecution is closing the case that started in 2019,” he said.

Akram said the prosecution had taken a total of 235 days to present its entire case.

Najib was initially charged in the sessions court on Sept 20, 2018.

His trial began in the High Court on Aug 28, 2019.

In his opening statement, then lead prosecutor, the late Gopal Sri Ram, told the court Najib used his position as the prime minister, the finance minister, and the chairman of 1Malaysia Development Berhad (1MDB)’s board of advisers “to exert influence over the board of 1MDB to carry out certain abnormal transactions with undue haste”.

“An elaborate charade was employed. It was acted out in four phases in which several characters played a part.

“His objective was to enrich himself,” Sri Ram said.

He said fugitive businessman Low Taek Jho, better known as Jho Low, was an important character in the charade.

The prosecution said it would establish facts, giving rise to an irresistible inference that Low and Najib acted as one at all times.

Justice Collin Lawrence Sequerah said following the case was a “challenge” because of its length.

He instructed the parties to file their written submissions by July 26, and to put in their replies by Aug 8.

Oral submissions will be held over four days from Aug 19.

Sequerah also allocated an additional eight days in September to allow the parties additional time to complete their oral submissions, if necessary.

He will have to rule whether the prosecution has proven a prima facie case, and if so, will call for Najib to enter his defence.

Najib is facing 25 charges of abuse of power and money laundering involving alleged 1MDB funds of RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.

Ex-AmBank CEO tried to cover up misdeeds, Zeti tells 1MDB trial

FMT Reporters-30 May 2024, 08:38 PM

The former Bank Negara Malaysia governor says AmBank did not perform due diligence on multiple transactions involving 1MDB.

Former BNM governor Zeti Akhtar Aziz said AmBank had been slapped with a RM53.7 million fine during Ashok Ramamurthy’s tenure as its CEO. (Bernama pic)

PETALING JAYA: Former AmBank CEO Ashok Ramamurthy tried to cover up misdeeds during his time leading the bank, former Bank Negara Malaysia governor Zeti Akhtar Aziz told Najib Razak’s 1MDB trial today.

Zeti, the prosecution’s 46th witness, was asked about contradictions between Ashok’s statement and her account of their meeting to discuss Najib opening an AmBank account, The Star reported.

Ashok previously said he sent several letters to Zeti to inform her about funds entering Najib’s account, allegedly from Saudi Arabia.

However, Zeti denied having received such updates, during re-examination by deputy public prosecutor Ahmad Akram Gharib today.

“(Ashok) wanted to cover up his wrongdoing during his time as the CEO,” she was quoted as saying, after Akram asked why Ashok may have given a contradictory version of events.

Zeti said AmBank did not perform due diligence on multiple transactions that involved 1MDB, and also fabricated transactions involving Good Star Ltd.

Good Star was a company owned by fugitive financier Low Taek Jho, or Jho Low.

Zeti pointed out that AmBank had been slapped with the biggest compound in Malaysian banking history during Ashok’s tenure – a RM53.7 million fine in 2015.

Ashok, reportedly an Australian citizen, joined AmBank in 2007 as chief financial officer before being promoted to CEO five years later. In January 2015, he resigned as the bank’s group managing director.

Najib is standing trial on four charges of abuse of power and 21 charges of money laundering involving RM2.28 billion in 1MDB funds allegedly deposited into his AmBank accounts between February 2011 and December 2014.

The prosecution closed its case today after calling 50 witnesses, after a total of 235 days.