KUALA LUMPUR – Former prime minister Datuk Seri Najib Razak received RM90,899,927.30 in two tranches between October and November of 2012, to his personal bank account, the high court heard today.
AmBank Jalan Raja Chulan branch manager R. Uma Devi testified that the amounts, RM15,149,963.64 and RM75,749,963.64, were deposited on October 31, 2012, and November 20, 2012, respectively, to his Ambank personal bank account ending with 9694.
In the trial’s opening statement, the prosecution posited that the total aforementioned sum relates to the second out of four phases of an elaborate scheme to allegedly defraud monies from 1Malaysia Development Berhad (1MDB).
The second phase concerns 1MDB’s acquisition of energy assets of questionable value, namely Tanjong Energy Holdings Sdn Bhd and Mastika Lagenda Sdn Bhd, both independent power producers.
1MDB, through its subsidiary 1MDB Energy (Langat) Ltd, had purchased the two energy assets with a value of RM10.64 billion via loans.
Through a complicated layering process, the prosecution posited that some of the monies were diverted into Najib’s personal account.
The origins of both funds were from Blackstone Asia Real Estate Partners Ltd, a shell entity known to be under the control of fugitive financier Low Taek Jho or Jho Low.
At the start of the trial, the prosecution aimed to prove that 1MDB monies were transferred in multiple transactions to Najib’s account.
The first phase included RM60,629,839.43, followed by RM90,899,927.28 in the second phase, RM2,081,476,926 in the third phase and RM49,930,985.70 in the fourth phase.
In the ongoing trial, he faces four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount. – The Vibes, September 26, 2022
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