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Over £9.45 million in 1MDB loan money went into Najib’s account: BNM analyst | Scoop
Datuk Seri Najib Razak faces four bribery charges and 21 for money laundering at his trial involving the alleged misappropriation of RM2.3 billion of 1MDB funds. – Bernama pic, September 21, 2023
News

Over £9.45 million in 1MDB loan money went into Najib’s account: BNM analyst

Witness testifies money came from firms controlled by Jho Low associate, Eric Tan Kim Loong

Bernama
Updated
4:32 PM MYT

 

KUALA LUMPUR – The high court today was told that more than £9.45 million (RM54.55 million) originating from loans taken out by a 1MDB subsidiary was deposited into Datuk Seri Najib Razak’s private account in 2014.

Bank Negara Malaysia analyst Adam Ariff Mohd Roslan, 29, said the money came from two foreign firms, Blackrock Commodities (Global) Ltd and Vista Equity International Partners, companies controlled by Eric Tan Kim Loong, who is alleged to be an associate of fugitive businessman Low Taek Jho, or Jho Low.

The 47th prosecution witness said that the money was deposited into Najib’s account, ending with “880”, between June 23, 2014, to December 17, 2014.

“Blackrock transferred £750,000 million (RM4,093,500 per the exchange rate then) on June 19, 2014, while Vista Equity transferred £8,706,021.92 million (RM45,825,918.13 per the exchange rate then) into the same account through five transactions,” he said.

According to the prosecution’s opening statement at the beginning of the trial in 2019, it contended that the said amount of £9.45 million was originally from 1MDB through its subsidiary, 1MDB Energy Holdings Ltd, where it obtained two loans totalling US$1.225 billion (RM5.742 billion) from Deutsche Bank Singapore.

Adam Ariff also said Najib’s “880” account had RM100,000 before the transferred £750,000 sum came in.

The witness said this when verifying the money trail report at Najib’s trial involving the alleged misappropriation of RM2.3 billion of 1MDB funds.

Najib, 70, was seen donning a blue suit and tie in the courtroom today, while his few supporters were seen sitting in the public gallery.

The former prime minister is facing four charges of using his position to obtain bribes amounting to RM2.3 billion belonging to 1MDB and 21 charges of money laundering involving the same amount.

The trial before judge Datuk Collin Lawrence Sequerah continues on October 9. – September 21, 2023

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