FORMER 1Malaysia Development Berhad (1MDB) investigating officer R Rajagopal told the Putrajaya High Court today that the company’s board of directors had not approved the transfer of USD700 million to Good Star Limited, owned by fugitive businessman Low Taek Jho, also known as Jho Low.
Rajagopal, former head of Bukit Aman’s Commercial Crime Investigation Department, said the lack of board approval was among his key findings in the 1MDB investigation.
"There was no directive from the (1MDB) board of directors for the USD700 million to enter Good Star's account. My investigation showed that the remittance of the monies into Good Star went against the board's decision," he said.
The 11th defence witness was responding to questioning by Datuk Seri Najib Tun Razak’s counsel Wan Azwan Aiman Wan Fakhruddin at the former premier’s trial for the alleged misappropriation of RM2.3 billion in 1MDB funds.
Previously, the court was told that 1MDB’s former executive director of business development, Casey Tang Keng Chee, who is at large, had allegedly diverted USD1 billion in 1MDB funds to third parties.
The missing funds were meant to be deposited into the 1MDB-PSI joint venture account. However, only USD300 million was transferred, with USD700 million diverted to Good Star Limited.
On Oct 30 last year, Judge Datuk Collin Lawrence Sequerah ordered Najib to enter his defence after ruling that the prosecution had established a prima facie case against him.
Najib, 71, faces 25 charges, including four counts of abusing his position to accept RM2.3 billion in bribes from 1MDB funds and 21 charges of money laundering involving the same amount.
The hearing resumes on March 24. - March 13, 2025
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