Tuesday, 3 December 2024

Bombshell: Najib claims BNM’s approval for US$1b (RM4.4b) money transfer obtained corruptly

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Bombshell: Najib claims BNM’s approval for US$1b (RM4.4b) money transfer obtained corruptly

KUALA LUMPUR, Dec 3, 2024: Disgraced and shameless former prime minister Najib “1MDB” Razak today dropped a bombshell in High Court, claiming that Bank Negara Malaysia (BNM)’s approval for US$1 billion (RM4.4 billion) money transfer was obtained corruptly.

Facebook image The jailbird also claimed that it was an informal afternoon tea onboard a yacht at the invitation of Saudi's Prince Turki, not a meeting to plot siphoning billions from 1Malaysia Development Bhd (1MDB).

No News Is Bad News reproduces below two news reports on the court proceedings:

Najib claims BNM’s approval for US$1bil money transfer obtained corruptly

Ho Kit Yen

-03 Dec 2024, 07:14 PM

The former prime minister says the ‘quick approval’ was in exchange for money received by a company linked to the husband of Bank Negara Malaysia’s ex-governor. 

Former prime minister Najib Razak is on trial for 25 counts of money laundering and abuse of power charges over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014. (Bernama pic)

KUALA LUMPUR: Najib Razak today suggested that the “swift” approval given by Bank Negara Malaysia (BNM) for the overseas transfer of US$1 billion in 1MDB funds might have been linked to corruption involving a family member of the central bank’s former governor.

The former prime minister said the transaction might have been connected to purported bribes paid to a company linked to the husband of former BNM governor Zeti Akhtar Aziz, as disclosed by former banker Tim Leissner in court proceedings in New York.

“I came to know during this trial that Jho Low (Low Taek Jho) instructed (law firm) Sherman and Sterling to pay over US$6.9 million to Iron Rhapsody, owned by Tawfiq Ayman (Zeti’s husband),” Najib said during his evidence-in-chief.

He said the Malaysian Anti-Corruption Commission (MACC) refused to pursue cases against Tawfiq or Zeti over the matter, leaving them “untouched by any form of accountability”.

“Instead, I was singled out,” said Najib.

Zeti, who testified as a prosecution witness, denied their involvement in any corrupt act.

She said it was Tawfiq who reported the presence of a suspicious transaction involving his company’s account at a Singapore bank after becoming aware from “open source information” of its likely dubious origins.

Najib said BNM ought to have enquired about the money’s destination as “the receiving party kept changing” and the “disbursement of funds was altered”.

The court had previously heard how 1MDB had in 2009 entered into a joint venture with PetroSaudi International Ltd (PSI) pursuant to which it was required to invest US$1 billion.

The entire sum was supposed to be deposited into a bank account jointly held by 1MDB and PSI, but only US$300 million was remitted.

It was later revealed that the remaining US$700 million was transferred to Good Star Ltd, a company controlled by Low.

No 1MDB discussions on yacht with Arab royal, says Najib

Najib also denied holding any discussions involving 1MDB during an “informal” meeting with members of a Middle Eastern royal family in 2009.

He said his former officer, Wan Ahmad Shihab Wan Ismail, had informed him that Prince Turki had invited Najib and his family on board the RM Elegance, a yacht owned by the Kuwaiti royal.

“Jho Low never spoke to me directly about this,” said Najib.

Shihab had previously testified that Low had asked him to make arrangements for the meeting, which another prosecution witness, investigating officer Nur Aida Arifin, said had not followed proper channels.

Najib told the court he met Prince Turki for the first time on board the yacht. He said PSI director Tarek Obaid and Low were also present.

The former prime minister said Low’s presence on board the yacht did not surprise him as the businessman had close ties with the royal family.

“It was more like a get-to-know session. When you meet someone for the first time, you won’t talk business with them,” said Najib.

Najib also dismissed Aida’s contention that the meet-up did not follow proper channels as being without basis.

“How could I be brazen enough to hatch a plan when meeting someone for the first time?”

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

The hearing continues before Justice Collin Lawrence Sequerah tomorrow. - FMT


1MDB: We were just having tea, not plotting to steal billions, Najib tells court

By NURBAITI HAMDAN

Nation

Tuesday, 03 Dec 2024

6:00 PM MYT

KUALA LUMPUR: It was an informal afternoon tea onboard a yacht, not a meeting to plot siphoning billions from 1Malaysia Development Bhd (1MDB), the High Court heard.

Datuk Seri Najib Razak, on the stand, shared details of his private family vacation in Southern France in 2009, where he and his family were invited for high tea aboard the RM Elegance by Saudi's Prince Turki.

The former prime minister said he was already on holiday in the South of France with his family when the invitation came through his special officer via Low Taek Jho, known for his connections with Middle Eastern royalty.

Najib said his wife, Datin Seri Rosmah Mansor, children Nor Ashman Razak, Nooryana Najwa, and stepson Riza Aziz were with him on the vacation.

"Apart from my family, my friend Tan Sri Bustari Yusuf and his children also joined us.

"You can immediately see from the membership of my group, it was meant to be a private holiday to begin with," he said in his witness statement on Tuesday (Dec 3).

As Najib and his family boarded the yacht, they were greeted by Prince Turki and PetroSaudi executive Tarek Obaid.

"The meeting I had with Prince Turki, Tarek Obaid, and Low during the afternoon tea was entirely informal and was nothing like what has been suggested.

"It was, in fact, the first time I had met both Prince Turki and Tarek Obaid. The idea that we could have been discussing some sort of sinister plan is not only ridiculous but entirely unfounded," Najib said.

Had there been a hidden agenda or nefarious intent, Najib said he would not have allowed photographs to be taken showing them together.

"The suggestion that we were plotting anything underhanded while my family and friends were present is absurd and rather unnatural," he added.

Najib said it was both misleading and unfair for individuals who were not part of the meeting to speculate and draw adverse inferences as an attempt to serve the prosecution's narrative against him.

Najib is facing four counts of using his position to obtain RM2.28bil gratification from 1MDB's funds and 21 counts of money laundering involving the same amount.

The charges were framed under Section 23(1) of the Malaysian Anti-Corruption Commission (MACC) Act 2009 and are punishable under Section 24(1) of the same Act.

If convicted at the end of the defence case, Najib faces imprisonment of up to 20 years and a fine of five times the amount of gratification or RM10,000, whichever is higher.

The hearing continues tomorrow before Justice Collin Lawrence Sequerah. - The Star

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