KUALA LUMPUR – Fugitive financier Low Taek Jho has blamed the 1Malaysia Development Bhd scandal on former prime minister Datuk Seri Najib Razak, reported Al Jazeera.
Based on audio recordings of a conversation that Low, better known as Jho Low, had with an unnamed official during Tun Dr Mahathir Mohamad’s administration, the businessman pointed to Najib as he attempted to negotiate immunity from prosecution.
According to Al Jazeera, Low said he does not believe “there’s any wrongdoing” on his part in the scandal, insisting that the money he used to buy prime real estate, exquisite artworks, a private jet and a luxury yacht, among others, comprised of “loans”.
He also said he had no say in how billions in 1MDB funds were spent, and offered to repatriate the assets bought using the state investor’s money in the hope that he could avoid legal action in Malaysia.
“I have no authority to make any decision... It’s a pretty known fact that... all the approvals have to be approved by the minister of finance,” he was quoted as saying.
Low also reportedly supported the US Justice Department’s (DoJ) findings that a RM2.6 billion “donation” that made its way into Najib’s personal bank account came from 1MDB, and was not a gift from Saudi Arabia’s late King Abdullah, as claimed by the former prime minister.
“The reality is, it is true that King Abdullah actually agreed to give (a) donation to the PM, but that was the small portion of a larger portion,” he is heard saying in the conversation with the unnamed official.
While Low was attributed by DoJ as the individual who bought a US$27 million (RM94.6 million) pink diamond for Najib’s wife, Datin Seri Rosmah Mansor, the 39-year-old said he had purchased a lot more items for her.
The financier, who is believed to be hiding in Macau or China, said he bought “north of half a billion dollars” worth of items, a “huge amount”.
In October 2018, Tun Daim Zainuddin, who chaired Dr Mahathir’s Council of Eminent Persons, said Low contacted one of his officers and made numerous demands, including a meeting with him and the then prime minister.
However, it is not known whether the clip aired by Al Jazeera is a recording of the conversation Low purportedly had with Daim’s officer.
“As far as I’m concerned, I just want to do whatever it takes to move on,” said Low in the recording.
“And in return, basically, you know, I would need Malaysia’s undertaking that, you know, this is settled and there would be no future proceedings and so on and so forth.”
In July, Najib received a 12-year prison sentence and a RM210 million fine after being convicted on all seven charges related to the misappropriation of RM42 million belonging to 1MDB subsidiary SRC International Sdn Bhd. He faces dozens more corruption charges related to the state fund.
US and Malaysian authorities believe that more than US$4.5 billion was siphoned off from 1MDB between 2009 and 2015 by top-level officials from the company and their associates. – The Vibes, November 17, 2020
