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Finance Twitter: Najib’s 1MDB defence is to blame everyone, use fairy tales
KUALA LUMPUR, Dec 19, 2024: Finance Twitter has posted an article claiming that the disgraced and shameless former prime minister, Najib “1MDB” Razak, is resorting to the use of fairy tales and to blame everyone but himself in his current defence of 25 charges of power abuse and money laundering involving RM2.27 billion in 1Malaysia Development Berhad (1MDB) funds.
The jailed kleptocrat who stole millions, if not billions, of Ringgit from the rakyat dan negara (people and country), is already serving his jail sentence in Kajang Prison for an earlier case involving 1MDB’s subsidiary SRC funds.
Finance Twitter opined that the climax was Najib’s hilarious conspiracy theory that the United States – the Department of Justice (DoJ) and even the Democrat government – was plotting, conspiring, colluding and whatnot with then-Opposition coalition, Pakatan Harapan, to topple his government. The imprisoned 71-year-old Najib claimed the DoJ was creating a false narrative that prejudiced public opinion and caused premature judgment of his guilt.
No News Is Bad News reproduces below the Finance Twitter article that was reposted by The Coverage and our previous postings on the same matter:
Najib Blames The U.S. For Overthrowing Him, But Backfires After U.S. Embassy Exposed The Truth
19 December, 2024
Armed with a whopping 528-page written witness statement in English, Najib Razak was confident his fairy tales could convince High Court Justice Collin Lawrence Sequerah of his innocence. But after having spent eight days reading his lies, which was written by his lawyer Muhammad Shafee Abdullah, the former Malaysian Prime Minister was not satisfied.
So, the world’s biggest crook reads an additional 147-page statement on December 13, also written in English. What happened to the Malay language which he and his Malay nationalist party UMNO used to champion? His tactic is to blame everyone except himself after he was ordered to enter his defence on all 25 charges of abuse of power and money laundering involving 1MDB scandal.
The climax was his hilarious conspiracy theory that the United States – the Department of Justice (DoJ) and even the Democrat government – was plotting, conspiring, colluding and whatnot with then-Opposition coalition, Pakatan Harapan, to topple his government. The imprisoned 71-year-old Najib claimed the DoJ was creating a false narrative that prejudiced public opinion and caused premature judgment of his guilt.
The U.S. Attorney General Loretta E. Lynch announced on July 20, 2016 the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than US$1 billion in assets associated with an international conspiracy to launder funds misappropriated from 1MDB. It was this announcement that Najib has blamed for creating a false perception that he was a crook.
Lynch said – “The Department of Justice will not allow the American financial system to be used as a conduit for corruption. With this action, we are seeking to forfeit and recover funds that were intended to grow the Malaysian economy and support the Malaysian people. Instead, they were stolen, laundered through American financial institutions and used to enrich a few officials and their associates.”
Subsequently, the Justice Department investigation results say that over US$4.5 billion was misappropriated from the 1MDB fund, with some of the money used to buy the private jet, a super yacht, Picasso paintings, jewellery and real estate. But it was not Loretta Lynch, the U.S. Attorney General from 2015 to 2017, who had labelled Najib as the world’s biggest crook.
The person who did that was Lynch’s successor, Jeff Sessions, who called the 1MDB sovereign wealth fund “kleptocracy at its worst” on Dec 5, 2017. Speaking in Washington at the Global Forum on Asset Recovery, A.G. Sessions revealed that the U.S. had seized US$3.5 billion tied to corruption, of which nearly half was from US-DoJ lawsuits connected to 1Malaysia Development Berhad (1MDB).
Mr Najib should get his story right before making a fool of himself. Lynch was appointed by former President Barack Obama (a Democrat), whilst Sessions was appointed by former President Donald Trump (a Republican). But Obama was Najib’s golf buddy, where both were happily golfing on Dec 24, 2014, in Hawaii – when Malaysia was plagued with its worst flooding.
Exactly how could Obama, serving as 44th President of the United States from 2009 to 2017, sabotages Najib when he was the first serving U.S. president to visit Malaysia since Lyndon Johnson in 1966? In fact, Najib was so excited and proud of Obama’s visit in April 2014 that they took not only “selfie”, but the Malaysian PM also bragged about his ride in the POTUS’ official limousine, nicknamed “The Beast”.
Why was Najib such a coward that he blamed Loretta Lynch, DoJ and Democrat without mentioning Barack Obama? Crucially, why Najib has no balls to blame Jeff Sessions or Donald Trump? That’s because the Democrats had just lost the 2024 Election, and the vengeful President-Elect Trump could retaliate unpredictably against scumbag Najib Razak.
Blaming foreign forces like the DoJ and Democrats was merely a smoke screen to hide the fact that he had stolen money. Diverting attention, Najib has been foaming at the mouth in the High Court that the U.S. and Pakatan Harapan had collaborated and orchestrated to stop him from procuring documents involving the 1MDB-related trial in New York involving ex-Goldman Sachs banker Roger Ng.
Najib argued that Goldman Sachs and the investment bank’s former Southeast Asia head Timothy Leissner were in possession of “exculpatory evidence” in favour of him. He also claimed that he had hired lawyers in the U.S. at his own expense to obtain this evidence, and had made several petitions to the U.S. courts in 2021. According to Najib, the US-DoJ had denied his application.
However, the U.S. Embassy in Kuala Lumpur, most likely sick and tired of the lies spread by Najib, has finally retaliated. The U.S. lectured Najib that the U.S. judiciary is not only independent of political influence, but the Department of Justice (DoJ) had done a thorough investigation in 1MDB scandal in regards to Najib’s involvement in corruption and money laundering.
Mocking Najib, the U.S. Embassy said – “1MDB funds were laundered globally, including through major financial institutions in the U.S. Switzerland, Singapore and Luxembourg, among others”. More importantly, the embassy has exposed that it was Najib who withdrew the request for the evidence on April 21, 2022, the same evidence which Najib claimed the U.S. was suppressing.
Now, why did crooked Najib chicken out from demanding for the evidence, which he has been telling all and sundry could prove his innocence? That’s because the so-called evidence would implicate him instead. Worse, it would destroy everything that the defence team had written in the 528-page witness statements which Najib hoped could hoodwink Justice Collin Lawrence Sequerah.
At the trial of ex-Goldman banker Roger Ng Chong Hwa in federal court in Brooklyn, New York, Federal Bureau of Investigation (FBI) agent Eric Van Dorn had confirmed once again that the Saudi donations did not exist at all. The FBI agent testified that not only Jho Low had stolen US$1.42 billion (RM6 billion), Najib Razak similarly stole US$756 million (RM3.2 billion).
Najib’s stepson, Riza Aziz, on the other hand, pocketed US$238 million (RM1 billion). The FBI also revealed that Khadem al-Qubaisi, a former managing director of Abu Dhabi’s state-owned International Petroleum Investment Co., which guaranteed the 1MDB transactions, received US$472.8 million (RM2 billion). Another Abu Dhabi official received US$76.6 million (RM320 million).
A forensic accountant for the FBI, Eric Van Dorn said he reviewed a staggering 59,000 bank records to establish the money trail, determining where the money raised from 1MDB bonds went. It means close to 40% of US$6.5 billion raised from three bonds that Goldman Sachs arranged for the Malaysian wealth fund had been stolen by Najib, his stepson and Jho Low alone.
Van Dorn’s testimony was the first time the U.S. authorities have detailed how those involved in the 1MDB deals were paid and how much they received. The FBI agent also revealed how Riza Aziz invested at least US$60 million of the 1MDB money he stole to produce “The Wolf of Wall Street”. However, Najib’s stepson had reached two settlements with the U.S. Justice Department.
In September 2017, Red Granite Pictures, the production company behind the “The Wolf of Wall Street” and “Dumb and Dumber To”, agreed to pay the U.S. government US$60 million to settle a civil forfeiture claim that the films were funded by money siphoned from 1MDB. Red Granite was co-founded in 2010 by Riza Aziz and Joey McFarland.
In 2020, Riza reached another agreement to surrender US$108 million in assets, included properties in the US and the UK – a Beverly Hills bungalow, a New York apartment, and a town house in London – as well as cash. The FBI also told the court that Roger Ng reaped US$35.1 million from two of the three bond sales, while Tim Leissner received US$73.4 million during the scheme.
Leissner, the former chief of Goldman Sachs’ Southeast Asia operation, has previously exposed more dirty backroom and bedroom deals – sex, bribes and blackmail – during his testimony in the U.S. federal court in the ongoing 1MDB trial of Roger Ng, Goldman’s Malaysian head of investment banking and the only Goldman banker to go on trial over the epic looting
While 52-year-old Leissner pleaded guilty in August 2018 to conspiring to violate U.S. anti-bribery laws and money laundering, Ng has pleaded not guilty to helping launder millions of dollars looted from 1MDB. Ng’s lawyer said he is a “fall guy” for one of the biggest financial scandals in Wall Street history, as Leissner testifies as a government witness against Ng.
In 2019, Khadem al-Qubaisi, a United Arab Emirates citizen, was sentenced in Abu Dhabi to 15 years in prison. Mohammed Badawy al-Husseiny, a U.S. citizen who ran a subsidiary of IPIC, was sentenced to 10 years. Both crooks were also ordered to repay US$336 million. In an interview behind the prison, Khadem claimed he was made a “scapegoat” for the UAE’s role in the 1MDB scandal.
However, the scope of the looting could be much wider. The FBI agent said his testimony was based only on certain transactions traceable back to Goldman Sach’s funding of the three bond deals. The scandal involved global investigation across three continents, where money was spent on high-end property, luxury goods and lavish holidays and parties involving Najib, his family and Jho Low.
The FBI testimony, however, was not the first proof that erased Najib’s claims that the money discovered in his bank was donations. In fact, this is the third time that the U.S. authorities have rubbished Najib’s tales. In 2019, documents released by the US Securities and Exchange Commission (SEC) said Najib Razak has been identified as the person who had received kickbacks from bonds issued by 1MDB.
The documents released were in relation to the SEC’s settlement with former Goldman Sachs Group Inc executive Tim Leissner. In detailing the background of the case, the SEC said that Leissner had helped to raise US$6.5 billion (RM26.9 billion) for 1MDB under the guise of supporting projects meant to benefit Malaysians. But the money raised didn’t go to the people of Malaysia.
The commission said – “Leissner and others instead planned and executed a scheme to misappropriate more than US$2.7 billion and distribute the money as bribes and kickbacks to government officials in Malaysia and Abu Dhabi. Including but not limited to Najib as well as to other participants in the scheme and their families, including Leissner.”
The U.S. Securities Commission agreed with the U.S. prosecutors, saying – “Leissner also knew at the time that Najib Razak and government officials from Abu Dhabi and 1MDB officials would receive money from the proceeds of Project Maximus that passed through various shell companies beneficially owned and controlled by himself, Low and others.”
The three bond sales for 1MDB were code-named Project Magnolia, Maximus and Catalyze. Under “Project Maximus”, the second bonds issued by 1MDB in 2012, known as Aabar BVI phase, Najib received US$30 million. But the juiciest kickbacks came from the “Project Catalyze” (Tanore phase) in 2013 when the disgraced ex-PM received a further US$681 million misappropriated from 1MDB.
It was also during the “Project Catalyze” that kickbacks, including “transferring approximately US$1.3 million (RM5.38 million) to the account of a New York jeweller to pay for jewellery for the wife of Najib” happened. This is in reference to 27 different 18-carat gold necklaces and bracelets Jho Low had bought for Rosmah Mansor from the 1MDB money siphoned.
Despite Najib’s pretence to claim ignorance, the U.S. SEC has pointed out that upon 1MDB’s formation, Najib assumed a position of authority in 1MDB, and had the authority to approve all appointments and removals in 1MDB’s board of directors and 1MDB’s senior management team. He knew exactly what he was doing – until he is put on trial.
On top of that, Saudi Arabian Foreign Minister Adel Ahmed Al-Jubeir confirmed in October 2018 that the RM2.6 billion donations had nothing to do with the kingdom’s government. In Najib’s recent appeal, all the judges also found that the so-called letters from one Prince Saud Abdulaziz Al-Saud on behalf of the King of Saudi Arabia were so faked that the letters clearly show that they are nothing but a fabrication.
Najib argued in the High Court that he was clean because neither the Saudi Arabian Royal Household nor its government has ever issued an official statement to refute that the funds he received in his bank account were a donation. But neither has the kingdom officially acknowledged the dubious donation. It’s very simple. What Najib needed to do is to get Saudi Prince Abdul Aziz Al-Saud appears as his witness.
Source : Finance Twitter
Wednesday, 4 December 2024
Najib ‘1MDB’ Razak blames everyone under his charge except himself
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Najib ‘1MDB’ Razak blames everyone under his charge except himself
KUALA LUMPUR, Dec 5, 2024: The ongoing hearing of 25 charges against disgraced and shameless former prime minister Najib “1MDB” Razak appears to be a blame game for the VVIP jailbird.
In his testimonies thus far, he blames everyone under his charge in 1Malaysia Development Berhad (1MDB), except himself as the boss.
To date, the unrepentant kleptocrat had testified that:
> 1MDB’s former CEO Shahrol Azral Ibrahim Halmi and the company’s management team must be held accountable;
> HE was “disheartened” by the testimony of ex-colleague Finance Minister II Ahmad Husni Hanadzlah, alleging that Ahmad was angry that a highway project in which his son was involved failed to secure governmental approval; and
> FORMER 1MDB director Ismee Ismail unfairly implicated him in a decision to dispose of the company’s stake in a failed joint venture, PetroSaudi International (PSI).
Najib is facing 25 charges of money laundering and abuse of power over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014
Today in the High Court, Najib said fugitive businessman Low Taek Jho (Jho Low) “exploited” his trust.
He denied having a close relationship with Jho Low despite his (Jho Low) presence his (Najib) residence.
No News Is Bad News reproduces below a news report on the court proceedings:
Jho Low ‘exploited’ my trust, says Najib
-05 Dec 2024, 02:15 PM
Najib Razak says he did not have a close relationship with Jho Low despite his presence at the former prime minister’s home.
Najib Razak said the ‘slightly pudgy’ Jho Low had remarkable charisma and an extraordinary ability to navigate diverse and influential circles.
KUALA LUMPUR: Najib Razak told the High Court here that fugitive businessman Low Taek Jho (Jho Low) “exploited” his trust, resulting in the former prime minister being falsely portrayed as complicit in the 1MDB fiasco.
Denying former CEO Shahrol Azral Ibrahim Halmi’s claims that he and Low had a close relationship, Najib said the perception arose due to Low’s presence at his home.
“While I do not deny that on certain occasions Jho Low was present at my home, it is important to understand the context of my interactions with him during that time.
“My confidence in him arose from the compelling image he projected as a highly capable and well-connected individual,” Najib said, pointing out that Low is well connected to the Terengganu and Middle Eastern royal families.
The ex-PM also said Low helped Malaysia bring back students studying in Egypt when the Arab Spring protests broke out and also helped to secure from Saudi Arabia an increase in Malaysia’s haj pilgrimage quotas.
“What set this slightly pudgy young man apart was his remarkable charisma and an extraordinary ability to navigate diverse and influential circles and consistently position himself as someone who could deliver results.
“Just because I trusted Jho Low, it does not mean that I gave him instructions to act as a go-between for myself and the management or directors of 1MDB.
“If he (Low) brought any (company shareholder) resolution to my home, I would question him,” said Najib.
He said it was Shahrol who was close to Low, as the former 1MDB CEO visited the Penang businessman’s home with several other members of the company’s staff and a former AmBank banker.
“Shahrol admitted he cooked nasi goreng for Jho Low and Joanna (Yu), made soup for him. I never cooked anything for him,” said Najib.
Nothing to hide on Saudi donation, says Najib
Najib also insisted he never hid the fact that he had received a purported Saudi donation, adding that he had spent the money on corporate social responsibility activities. All transactions were properly recorded, he said.
“I issued cheques, not cash. If I wanted to steal (from 1MDB) as the prosecution claims, I would not have brought back (the money) and told BNM (Bank Negara Malaysia) about it. This would be bordering on insanity,” said Najib.
Najib is standing trial on 25 charges of abuse of power and money laundering over funds amounting to RM2.28 billion which were deposited into his AmBank accounts between February 2011 and December 2014.
The hearing continues before Justice Collin Lawrence Sequerah on Friday.
Tuesday, 3 December 2024
Najib blames CEO and 1MDB management for RM4.4b loss!
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Najib blames CEO and 1MDB management for RM4.4b loss!
KUALA LUMPUR, Dec 4, 2024: Disgraced and shameless former prime minister Najib “1MDB” Razak today told the High Court that the Sovereign Wealth Fund (1Malaysia Development Berhad)’s management should be blamed for the US$1 billion (RM4.4 billion) loss!
Wasn’t the jailbird the 1MDB boss in the management?
Perhaps it is appropriate to send the unrepentant kleptocrat to have a medical psychiatry evaluation.
He argued that 1MDB’s former CEO Shahrol Azral Ibrahim Halmi and the company’s management team must be held accountable.
Now, can and can anyone believe that, the CEO and management can do whatever it can without the prime minister’s approval involving billions of US$ and Ringgit?
Najib also argued that Shahrol and 1MDB’s management must be held accountable.
That’s exactly right! Then, what about himself? The prime minister does not need to be accountable nor responsible? Or is he just trying to pass the buck or find a scapegoat?
What the heck!
No News Is Bad News reproduces below a news report on the court proceedings:
Blame 1MDB management for US$1bil loss, says Najib
-04 Dec 2024, 01:07 PM
Najib Razak says 1MDB’s former CEO Shahrol Azral Ibrahim Halmi and the company’s management team must be held accountable.
Najib Razak is charged with 25 counts of money laundering and abuse of power over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014. (Bernama pic)
KUALA LUMPUR: Former prime minister Najib Razak told the High Court today that he could not be held responsible for the US$1 billion loss 1MDB suffered in a failed joint venture with PetroSaudi International (PSI).
He said responsibility for the loss should fall on former CEO Shahrol Azral Ibrahim Halmi and the company’s management team, as they were ready to seal the joint venture in September 2009.
“Bakke (Salleh) and Shahrol were (even) appointed to be 1MDB’s representatives in the joint venture company and they also agreed to open a joint bank account.
“The prosecution’s contention that it was my direction that forced them to enter this joint venture is disingenuous,” Najib said, referring to the testimony of Bakke, the company’s former chairman.
The court previously heard that 1MDB was required to invest US$1 billion in the joint venture, and that the funds were supposed to be deposited in a joint account with PSI.
However, only US$300 million was moved into the account. The balance was diverted to an account owned by Good Star Limited, a company controlled by fugitive businessman Low Taek Jho.
Bakke also testified that Najib had told him during a telephone conversation prior to a board meeting on Sept 18, 2009 that he would like 1MDB’s board to “firm up” a decision on the proposed PSI joint venture.
He said Najib had during that conversation shown a “strong interest” in pushing through with the joint venture.
In his testimony today, Najib said the prosecution was reading too much into his telephone conversation with Bakke.
He denied taking a personal interest in the joint venture or directing Bakke to seal the deal with PSI.
“The only interest I had was national interest,” said Najib.
He also said his intention was simply to have the board define and delineate the joint venture’s terms.
“If such a directive had been given, Bakke who prides himself on good corporate governance would have ordered it to be recorded (in the meeting minutes). This so-called phone conversation and directive were curiously absent,” he said.
Najib is standing trial on 25 counts of money laundering and abuse of power over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.
The hearing before Justice Collin Lawrence Sequerah continues.
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Najib ‘disheartened’ by testimony of ex-colleague Husni
-04 Dec 2024, 01:58 PM
The former prime minister says Ahmad Husni Hanadzlah was angry that a highway project in which his son was involved failed to secure governmental approval.
Najib Razak claimed Ahmad Husni Hanadzlah was unhappy over an intended change in portfolio as he wanted to remain second finance minister.
KUALA LUMPUR: Former prime minister Najib Razak today said he was “disheartened” by former Cabinet colleague Ahmad Husni Hanadzlah’s testimony against him at his 1MDB trial.
Testifying in his defence to charges of abuse of power and money laundering, Najib said Husni’s claim of being sidelined in 1MDB matters was “untrue”.
“He was someone that I personally selected to serve as second finance minister and Umno treasurer. To hear accusations from someone I entrusted with an important role is painful,” said Najib.
The former prime minister also said he was “disappointed” when Husni tendered his resignation from Cabinet.
Husni was second finance minister from 2009 until his resignation in 2016.
Asked by defence counsel Shafee Abdullah why Husni had appeared angry in court, Najib said: “I can only believe it was because I wanted to transfer him to other ministries. He wanted to remain as second finance minister.”
He said Husni might also have been unhappy because a highway project in which his son Khalid was involved did not go through.
“The system doesn’t allow you to accede to everyone’s requests. You are always blamed for everything,” said Najib.
Najib is standing trial on 25 counts of money laundering and abuse of power 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.
Ismee unfairly implicated me in 1MDB’s joint venture woes, says Najib
-04 Dec 2024, 06:22 PM
The former prime minister also challenged the veracity of certain documents, claiming the signatures attributed to him looked ‘weird’.
Former prime minister Najib Razak (left) expressed disappointment with the testimony given by former 1MDB director Ismee Ismail.
KUALA LUMPUR: Najib Razak told the High Court here that a former 1MDB director had unfairly implicated him in a decision to dispose of the company’s stake in a failed joint venture.
Testifying at his 1MDB trial, the former prime minister expressed disappointment with the testimony given by prosecution witness Ismee Ismail.
“I never expected such a distortion of truth from someone like him whom I have always regarded as a man of integrity who upholds Islamic principles.
“It is not what I would expect from someone I held in such high regard,” said Najib.
The court previously heard that 1MDB had in 2009 stumped out US$1 billion for a 40% stake in the joint venture, with PetroSaudi International (PSI) holding the remaining 60% interest.
The funds were later converted into Islamic murabaha notes.
1MDB paid another US$830 million between 2010 and 2011 for the same purpose and by 2012, the notes were said to be worth US$2.22 billion.
The prosecution contends that by the following year, 1MDB’s stake in the joint venture had become worthless.
Najib also disputed some of the documents tendered at trial, saying the signature attributed to him on a shareholder’s resolution and the minutes of a meeting held on March 22, 2010, looked weird and suspicious. He claimed he did not sign either document.
He also claimed officers from the Malaysian Anti-Corruption Commission did not show him the documents during investigations, adding that he would have questioned their veracity had they done so.
Najib is standing trial on 25 charges of money laundering and abuse of power over 1MDB funds amounting to RM2.28 billion allegedly deposited into his AmBank accounts between February 2011 and December 2014.
The hearing continues before Justice Collin Lawrence Sequerah tomorrow.
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
-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
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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