Datuk Seri Najib Razak had never directed 1Malaysia Development Bhd (1MDB) to transfer a total of US$1.03bil to a company owned by fugitive businessman Low Taek Jho or Jho Low, the High Court has heard.
Malaysian Anti-Corruption Commission (MACC) senior officer Nur Aida Arifin testified on Friday (April 26) that 1MDB’s top management was responsible for the transactions between 1MDB and Low’s company Good Star Ltd.
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Malaysian Anti-Corruption Commission (MACC) senior officer Nur Aida Arifin testified on Friday (April 26) that 1MDB’s top management was responsible for the transactions between 1MDB and Low’s company Good Star Ltd.
Read more at https://tinyurl.com/4c2emat8
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00The High Court in Kuala Lumpur has heard that Datuk Seri Najib Razak had never directed
00:07One Malaysia Development Berhad 1MDB to transfer a total of US$1.03 billion to a company owned
00:15by fugitive businessman Low Taik Jo or Jo Low.
00:19Malaysian Anti-Corruption Commission Senior Officer Nur Aida Arifin testified on Friday
00:24that 1MDB's top management was responsible for the transactions between 1MDB and Goodstar
00:31Ltd, a company owned by Jo Low.
00:34The 49th prosecution witness said the management comprised 1MDB former Chief Executive Officer
00:41Datuk Shahrol Azral Ibrahim Halmy, former Chief Financial Officer Radhi Mohamad, and
00:47former Executive Directors Terence Gecho Heng and Casey Tang Keng Chee.
00:52Nur Aida, under cross-examination by Najib's lawyer Wan Azwan Aiman, agreed that based
00:58on the documents presented in court, 1MDB's management had approved the remittance of
01:04the funds to Goodstar.
01:05She also agreed that during her investigation into 1MDB, she had never asked Najib if he
01:11had indeed instructed the transfer of US$700 million to Goodstar, which was related to
01:17a joint venture between 1MDB and PetroSaudi International Ltd, PSI.
01:23It was previously heard in court that in an agreement signed on September 28, 2009, 1MDB
01:30had injected US$1 billion in cash as starting capital for a 40% stake in the JV company,
01:37while PetroSaudi Holdings Cayman, a company which was purportedly a subsidiary of PSI,
01:43injected assets worth US$108 million for a 60% stake.
01:48However, it was said that US$700 million from this amount was diverted to Goodstar.
01:55Throughout the trial, Najib's defense had argued that 1MDB's top management had hoodwinked
02:00Najib and worked in cahoots with Lowe.
02:03The 70-year-old is on trial for 25 charges, including four for abuse of power, resulting
02:09in financial gains totaling 2.28 billion ringgit and 21 for money laundering involving the
02:15same amount.
02:16The hearing continues before Justice Colin Lawrence Sequeira.