A Malaysian Anti-Corruption Commission (MACC) investigating officer in the 1Malaysia Development Bhd (1MDB) probe told the High Court in Kuala Lumpur on Wedneday (April 24) that she did not ask Datuk Seri Najib Razak about a US$700mil transfer from the sovereign wealth fund into a company linked to fugitive businessman Low Taek Jho.
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NewsTranscript
00:00 A Malaysian Anti-Corruption Commission, or MACC, investigating officer in the One Malaysia
00:07 Development Berhad, or 1MDB probe, told the High Court in Kuala Lumpur that she did not
00:12 ask Datuk Seri Najib Razak about a US$700 million transfer from the sovereign wealth
00:18 fund into a company linked to fugitive businessman Loh Taik Chow.
00:23 Senior officer Nur Aida Arifin said that she had inquired the matter from former 1MDB CEO
00:29 Datuk Sharol Azrael Ibrahim Halmy instead, and the information was sufficient.
00:34 The 49th prosecution witness said this during the cross-examination by Najib's lawyer,
00:39 Wan Azwan Ayman, on Wednesday.
00:41 The transfer was related to 1MDB's joint venture, or JV, with Saudi Arabia-based PetroSaudi
00:47 International Ltd, or PSI.
00:50 It was previously heard in court that, in the JV agreement which was signed on September
00:54 28, 2009, 1MDB had injected US$1 billion funds in cash as a starting capital for a 40% stake
01:03 in the JV company, while the PetroSaudi holdings Cayman injected its assets worth US$108 million
01:10 for a 60% stake.
01:12 However, it was said that through Sharol's instructions, US$700 million from the US$1
01:18 billion was diverted into Goodstart Ltd, a company linked to Lowe.
01:24 Najib's defense had argued that the top management of 1MDB, including Sharol, had hoodwinked
01:30 Najib and worked in cahoots with Lowe.
01:32 70-year-old Najib is on trial for 25 charges in total, four for abuse of power that allegedly
01:39 brought him the financial benefit to the tune of 2.8 billion ringgit and 21 for money laundering
01:45 involving the same amount of money.
01:48 The hearing continues before Justice Colin Lawrence Sequeira on Thursday.
01:52 The court ruled that the defendant, who was charged with the abuse of power, was not guilty.
01:53 The court also ruled that the defendant, who was charged with abusing power, was not guilty.
01:54 The court ruled that the defendant, who was charged with abusing power, was not guilty.
01:54 The court ruled that the defendant, who was charged with abusing power, was not guilty.
01:55 The court ruled that the defendant, who was charged with abusing power, was not guilty.
01:55 The court ruled that the defendant, who was charged with abusing power, was not guilty.