The Malaysian Insight: Recent Episodes
The Malaysian Insight
The Najib Razak trial heard today that businessman Low Taek Jho had approached Ambank in 2009 for a RM10 billion bond issuance with a 30-year tenure for a sovereign wealth fund to develop Terengganu but which later became 1Malaysia Development Bhd (1MDB).
Joanna Yu, a former relationship manager at Ambank, testified at the Kuala Lumpur High Court that the bank held a meeting with Terengganu Investment Authority (TIA) officials to discuss the issuance of the bond.
High Court judge Collin Lawrence Sequerah today ticked off Najib Razak's lawyers over their attempts to postpone cross-examination of witnesses in the ongoing 1Malaysia Development Berhad trial.
The stern warning from the judge came after defence lawyer Wan Aizuddin Wan Mohammed asked Sequerah’s permission to delay the cross-examination of 40th prosecution witness Kok Tuck Cheong as lead counsel Muhammad Shafee Abdullah was handling another court case at the High Court.
An Ex-AmBank group managing director told the Kuala Lumpur High Court that he did not dare ask why Najib Razak was about to receive a US$100 million (RM465 million) donation from Saudi Arabia in 2011.
Cheah Tek Kuang, who is the 39th trial witness, said this when he was questioned by lead defence counsel Mohammed Shafee Abdullah on his visit to the former prime minister’s home to assist in opening an Ambank account for the now convicted felon.
Prosecutor Gopal Sri Ram told Najib Razak’s lawyers today to argue his 1Malaysia Development Berhad case in court instead of the media.
Sri Ram told the Kuala Lumpur High Court that lead defence lawyer Mohamed Shafee Abdullah had misled the media by claiming that the prosecution had failed to disclose evidence in the convicted politician's trial.
Former prime minister Najib Razak allegedly received a total of US$1.17 (RM544) billion from an Arab donor in two separate transactions in 2011 and 2013, the Kuala Lumpur High Court heard today.
Ambank capital market head Yap Wai Keat was verifying two transactions of US$800 million and US$375 million that was deposited into the now convicted Najib’s account.
AmBank Raja Chulan branch manager Uma Devi told the Kuala Lumpur High Court today that no red flags were raised when US$620 million was remitted from jailed prime minister Najib Razak’s AmBank account in August 2013.
She said where remittance is concerned it is usually up to the customer to get approval from Bank Negara Malaysia.
A former treasury official told the High Court today that a letter of support issued by the government to enable 1MDB Global Investment Ltd to secure a US$3 billion bond was done in haste.
Testifying against jailed former prime minister Najib Razak, Siti Zauyah Mohd Desa said that in her 25 years’ experience with the finance ministry, the letter of support was an abnormal transaction that she had to take on.
Najib Razak was back in court after a one week stay in hospital rather than the prison over an undisclosed health problem.
The disgraced former prime minister, dressed in a blue suit, was escorted to court by Kajang Prison officials. He looked to be in good spirits despite spending the last week at Kuala Lumpur Hospital and the Cheras Rehabilitation Centre.
Prisoner Najib Razak had a short day in court today before going for a medical check up, but not before Ambank Jalan Raja Chulan branch manager R. Uma Devi testified that Najib minted more than RM1.25 million in interest payments from Tye bank from funds in one of his five personal bank accounts.
On the witness stand, Uma confirmed that several interest payments totalling RM1,253,924.80 were made in 2011 to Najib’s private AmBank account ending with 694.
On social media, Najib Razak has thousands of fans but in jail, he only has one.
Far from the comforts of a prime minister, he is now in a Kajang prison cell eating the same food as other prisoners and has to take cold showers - according to Prisons Department sources.
Be that as it may, Najib was present today at the Kuala Lumpur High Court in a well dressed suit, but unlike other prisoners, Najib was not handcuffed as he was not deemed as a "dangerous criminal".
The prosecution's 37th witness, R Uma Devi told the High Court of Kuala Lumpur this afternoon that the former prime minister once appointed former chief executive officer for SRC International, Nik Faisal Ariff Kamil, as the authorised person with access to his personal bank accounts.
Najib Razak may be a prisoner of the state, but speculation continues over his appeal for both a pardon and a review of the Federal Court decision that imprisoned him two weeks ago.
While that goes on, a well dressed Najib turned up for his 1MDB case at the High Court today from the Kajang Prison - without handcuffs but with a phalanx of prison guards.
He was there as the prosecution's 36th witness, Badrul Hisyam Mohamad testified that the former prime minister had issued 38 cheques worth RM8.4 million between 2011 to 2012 to several entities, individuals and political parties.
Najib Razak turned up for his 1Malaysia Development Berhad (1MDB) case at the High Court today from the Kajang Prison looking healthy, days after it was reported that the convicted politician had suffered a stomach illness.
The prosecution's 35th witness, Yeoh Eng Leong told the court this afternoon that the former prime minister had two credit cards with a limit of RM3 million each.
Yeoh, the former vice president in the credit card department at Ambank, divulged that the credit limit given to Najib was among the highest at the bank.
Prisoner Najib Razak turned up for his 1Malaysia Development Berhad (1MDB) case at the High Court today despite an overnight stay in hospital.
The prosecution's 26th witness, Siti Zauyah Mohd Desa told the court that as the company's former deputy secretary, chairman Mohd Bakke' Salleh's resignation as 1MDB chairman was not recorded in the company's meeting minutes.
Najib Razak’s 1MDB trial resumed this morning at the Kuala Lumpur High Court after a break to allow him to attend his final appeal in the SRC case.
His appeal failed on Tuesday and he was sent to jail.
What should have been just another day, was anything but, as Najib, who used to arrive with a posse of supporters was instead driven into the court basement in a Kajang Prison vehicle under heavy police escort. – August 25, 2022.
Former 1MDB CEO Shahrol Azrol Ibrahim took orders directly from former Prime Minister Najib Razak when the sovereign wealth fund lost US$700 million, former finance minister II Ahmad Husni Hanadzlah told the Kuala Lumpur High Court today.
1MDB had taken a US$1 billion loan from Deutsche Bank to obtain a 40% share in the 1MDB-Petrosaudi joint venture project.
However, US$300 million was remitted to the JV company, while US$700 million went to Good Star, a company controlled by Low Taek Jho at RBS Coutts Bank.
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Former finance minister II Ahmad Husni Hanadzlah told the Kuala Lumpur High Court today that he was merely "menurut perintah" or following orders when he signed documents relating to 1Malaysia Development Bhd.
Husni said all documents relating to 1MDB and its subsidiary SRC International had gone through then finance minister Najib Razak before landing on his desk.
His testimony was marked with heated exchanges, just like the last time he testified and was questioned by Najib's lawyers.
Deutsche Bank Malaysia Bhd (DBMB) was pressured to accelerate a US$1 billion remittance order to meet former prime minister Najib Razak’s deadline, a banker told the Kuala Lumpur High Court today.
Jacqueline Ho Yek Wan, the former managing director at DBMB, said Casey Tang, the former executive director of 1MDB, had told her that the remittance had to be done by 4pm on September 30, 2009.
She was informed that the matter was important as it was part of a government-to-government deal that Najib was going to announce in a press conference.
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A total of US$61 million and £9.46 million was transferred into former Prime Minister Najib Razak’s private account in AmBank between 2013 and 2014, a senior bank official told the court today.
Wedani Senen, AmBank’s Swift unit manager said that all the funds were channelled through seven transactions to two accounts ending with numbers 880 and 694 belonging to the Pekan lawmaker.
AmBank's SWIFT unit manager Wedani Senen today told the court that close to US$670 million was transferred to Najib Razak's personal bank account in a span of three years from an individual and two different companies.
That entire amount was only from five transactions from a total of 12 that were channeled into two different accounts belonging to the former prime minister.
Former Deputy Secretary-General of the Ministry of Finance Siti Zauyah Mohd Desa told the court the government has to pay a US$3 billion loan taken by a subsidiary 1MDB.
Siti Zauyah testified that the loan was sanctioned by the then Barisan Nasional government under Najib Razak, who was the prime minister and finance minister when he signed off the letter of support in 2013.
Former 1MDB adviser Mohd Sidek Hassan told the court today his monthly salary of RM29,125 as then chief secretary to the government was insufficient and was the reason why Najib Razak appointed him to the advisory board.
Sidek said he believed that Najib, out of the goodness of his heart, had given him a role in 1MDB with a salary of RM30,000.
Former 1MDB adviser Mohd Sidek Hassan told the High Court this morning that the Finance Ministry-owned company had never sat for a single meeting throughout the years he served as a board member.
Sidek also informed the court that he received a monthly salary of RM30,000 for two years from 2010 to 2012 before the amount was reduced to RM10,000 from 2013 to 2015 after he retired as Chief Secretary to the government.
Mohd Bakke Salleh told the Kuala Lumpur High Court today that he was told to be more accommodating when giving testimony about 1Malaysia Development Berhad to the Public Accounts Committee in 2015.
The former 1MDB chairman said he was told not to mention the names of former prime minister Najib Razak or businessman Low Taek Jho in his testimony.
Former 1Malaysia Development Bhd (1MDB) chairman Mohd Bakke Salleh told the High Court today that parts of his testimony to the Public Accounts Committee was omitted.
The 68-year old corporate figure, who is now the Petronas chairman, said that a lot of what he had mentioned during the PAC proceedings into the 1MDB fiasco was not included.
KPMG Malaysia’s managing partner Johan Idris testified at Najib Razak’s 1Malaysia Development Bhd (1MDB) trial today that he felt “intimidated” by the former prime minister during a meeting.
He said this when asked by lead prosecutor Gopal Sri Ram during cross-examination about a meeting at Najib’s residence on Jalan Duta on December 15, 2013.
Ex 1MDB chairman Mohd Bakke Salleh told the High Court today that he felt uneasy after suspecting ex-prime minister Najib Razak had a hand in shady deals involving the sovereign wealth fund.
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KPMG Malaysia's managing partner, Johan Idris today told the court that he was under the impression that former prime minister Najib Razak was ordering him to sign off on 1MDB's 2013 financial statement.
He said that Najib had made the request during a meeting with KPMG officials at his residence on December 15, 2013.
The auditors did not do so and were subsequently fired.
A witness in the 1MDB trial told the court that funds auditor KMPG had insisted on meeting with Najib Razak with regards to its US$2.3 billion investment before signing off on its 2013 financial statement.
Instead of taking the request to the prime ministers office, former 1MDB chief financial officer Azmi Tahir told the court that he informed businessman Low Teak Jho, better known as Jho Low, about KMPG’s request.
Azmi Tahir, the former 1MDB Chief Financial Officer, told the court today that he had not carried out any due diligence on entities that received monies from 1MDB.
He said he did not investigate Azmi the companies because there was no instruction from the top.
A prosecution witness today agreed with prosecutors in the Najib Razak 1MDB trial that US$681 or RM2.28 billion flowed into the former prime minister’s private bank accounts at AmBank from 2011 and 2014.
These funds, the prosecution said by showing flowcharts, originated from the various loans and bonds raised by 1MDB. Najib has so far maintained that the funds found in his accounts were donations from Arab royalty.
When 1MDB was asked to repatriate funds it held overseas back to Malaysia, its management spun an elaborate tale to mislead the company’s board of directors, ultimately resulting in losses running to billions, former company director Ismee Ismail told the court today.
Ismee, the prosecution's 13th witness, testified that the board was misled and manipulated by the management to believe that the funds were returning to Malaysia when in reality no money came back.
1MDB’s US$2.2 billion murabaha notes were converted to US$2.3 billion in promissory notes but details were never sent to the company board, the prosecution's 13th witness told the court today.
Ismee Ismail, who is 1MDB’s former director also agreed with defense lawyers that the conversions were done without Najib Razak’s approval.
A former 1MDB director agreed that the company board and Najib Razak may have been conned into entering an investment agreement with PetroSaudi International Limited.
Ismee Ismail, the 13th prosecution witness in Najib's 1MDB trial, also agreed with a defence lawyer that the former prime minster would not have participated in the detailed crafting that was needed to deceive the board.
Ismee Ismail, the former director of 1MDB told the court today that he had made a presumption that former prime minister Najib Razak was close to businessman Low Teik Jho.
But he laughingly confirmed that the fugitive businessman had apparently helped Najib get the highest possible honour from the Saudi King
Ismee Ismail, the former director of 1MDB admitted in court today that he was wrong in believing Najib Razak wanted the Terengganu Investment Authority to issue a RM5 billion bond.
Ismee had earlier testified that he conveyed a message that Terengganu ruler Sultan Mizan Zainal Abidin wanted to discontinue the bond but perceived Najib’s reaction and intonation as wanting the bond issuance to proceed
The reason why 1MDB agreed to an exorbitant interest rate for a US$1.75 billion loan to purchase a power plant is because it did not bother to negotiate a lower rate, a witness told the Najib Razak 1MDB trial today.
Instead, it just took the words of its bond arranger Goldman Sachs, who was also its financial advisor, no questions asked.
A former 1MDB chief financial officer took instructions from Low Taek Jho because the businessman was introduced by then prime minister Najib Razak's aide, the Kuala Lumpur High Court heard today.
Azmi Tahir said Jho Low was not a random stranger and he had no reason to suspect that the businessman’s instructions were in fact not from Najib, who had also briefed him at the prime minister's private residence.
Former 1Malaysia Development Bhd (1MDB) chief financial officer Azmi Tahir today said he did not know why he was no longer charged for the RM33.26 billion civil suit by 1MDB, but he was sure it was not a deal in exchange to incriminate former prime minister Najib Razak.
Najib’s lawyer had highlighted that Azmi was initially part of the 15 defendants of the suit filed in May last year but he was later dropped, along with other witnesses who, coincidentally, are testifying against Najib.
The hearing had proceeded all but too briefly today, at the High Court in Kuala Lumpur.
The morning started with Najib initially barred from the courtroom due to his MySejahtera status.
Later, one witness could not give evidence because of a family emergency and a second complained of physical pain during cross-examination.
Najib was barred from the Kuala Lumpur High court as a “person under surveillance” even though he has tested negative for Covid-19 today.
The former prime minister’s Covid-19 status showed “yellow” on his MySejahtera app, a status that disallowed his entry into the court complex.
Judge Collin Lawrence Sequerah then adjourned the trial and said he would decide whether the trial could resume tomorrow with the virtual appearance of the accused.
A letter from the government agreeing to act as ultimate guarantor for a 1MDB project debt was issued so quickly!
Signed by former finance minister Najib Razak, the letter arrived just two days after the 1MDB directors agreed to raise US$3 billion for the Tun Razak Exchange joint venture.
This was the testimony of former 1MDB director Ismee Ismail, who also today said that the 1MDB board had felt being used to only legitimise transactions.
He said the board realised this after revelations from when 1MDB investigations started and throughout the 1MDB trials.
“Why did you sign it? Why did we not appeal to His Majesty to give us time to think?”
This was the reaction of convicted former prime minister Najib Razak after he heard the explanation from former 1MDB director Ismee Ismail on the postponement of a RM5 billion bond issuance.
Ismee, the 13th prosecution witness, testified that Najib appeared to really want the issuance to continue.
However, Ismee said it was a problem outside his jurisdiction as he would not question the wish of the Sultan of Terengganu, Sultan Mizan Zainal Abidin.
Former 1MDB chief finance officer Azmi Tahir testified that former prime minister Najib Razak had asked KPMG to close the 1MDB 2013 financial report.
He said Najib told KPMG right after the audit firm sought an explanation directly from Najib regarding a suspicious 1MDB overseas investment.
Unsatisfied with Najib’s answers, Azmi said KPMG did not close the report after that meeting at Najib’s residence in December 2013.
1MDB then terminated its contract with KPMG and took in Deloitte as its third auditor, he said.
Former 1MDB chief executive officer Mohd Hazem Abdul Rahman said not a single sen from the irregular 1MDB payments went into his bank account, but into former prime minister Najib Razak’s account.
He told the Kuala Lumpur High Court today that he did not benefit from any of the alleged illegal transactions.
The 10th prosecution witness also denied acting in conspiracy with fugitive businessman Low Taek Jho, also known as Jho Low.
He said it was Najib who had a very close relationship with Low.
November 11, 2021 - Former 1MDB chief finance officer testified today that he had never allowed 1MDB funds to be invested into Tanore Finance Corporation, which allegedly went into Najib Razak’s personal bank account.
Azmi Tahir, the 12th prosecution witness, said fugitive businessman Low Taek Jho and his proxies handled them without accounting on the details.
He also told the Kuala Lumpur High Court that every instruction by Jho Low to the 1MDB senior management was Najib’s mandate.
Low, under the blessings of Najib, will give instructions to the 1MDB team in a work-in-silo system.
November 10, 2021 – Najib Razak’s lawyer called former 1MDB former chief executive officer Mohd Hazem Abdul Rahman a liar.
Mardhiyah Mohamed Sirajkumar accused Hazem of conveniently remembering facts whenever Najib is implicated in the crime, however forgets when Hazem himself is directly involved.
Hazem also in court testified that under the instructions of fugitive businessman Low Taek Jho, or known as Jho Low, he had indirectly lied to audit firm KPMG.
November 9, 2021 – Ad hoc prosecutor Gopal Sri Ram today equated the operations of the 1Malaysia Development Berhad to the running of a coffee shop.
The former federal court judge said this when objecting to the defence’s long-winded line of questioning towards 10th prosecution witness Mohd Hazem Abdul Rahman at the Kuala Lumpur High Court.
Sri Ram also called the defence counsel Wan Aizuddin Wan Mohammed's cross-examination of Hazem this morning as “irrelevant”.
August 23, 2021 – Defence lawyer Muhammad Shafee Abdullah ran through flowcharts of seven money cycles believed to be the money laundering method used for the US$975 million loan from Deutsche Bank intended for 1Malaysia Development Berhad.
Mohd Hazem Abdul Rahman, Chief Executive Officer of 1MDB, the tenth prosecution witness in the trial denied having any knowledge of this elaborate scheme that occurred in September to November 2014.
In order to get the US$975 million facility agreement from Deutsche bank, 1MDB had charged Brazen Sky - a special purpose vehicle set up to repatriate funds back to Malaysia - to the bank.
In reality, however, Brazen Sky never held any cash. Only six promissory notes are said to be worth US$2.3 billion, which we now know are actually worthless pieces of paper.
This information was however not disclosed to Deutsche.
The prosecution’s 10th witness Mohd Hazem Abdul Rahman told the court today that he GENUINELY believed an agreement with Aabar Investments PJS Ltd was for the purpose of options buyback and not a SCHEME by businessman Low Taek Jho to siphon funds out of the sovereign wealth funds.
After more than two months hiatus, former prime minister Najib Razak’s 1MDB trial resumed at the Kuala Lumpur High court today.
Najib’s lawyers continued with the cross-examination of the 10th prosecution witness Mohd Hazem Abdul Rahman. Hazem held the post of 1MDB CEO from 2013 to 2015.
During the cross-examination, Hazem said he was not ashamed to receive bonuses despite the company's poor performance.
May 27, 2021 – Former 1Malaysia Development Bhd (1MDB) chief executive officer Mohd Hazem Abdul Rahman claimed that the 1MDB board of directors were all part of a scheme, calling it “sandiwara”.
They had banded together to conceal the information that 1MDB was set up to fund Umno – the political party of which ex-prime minister Najib Razak was the president.
However, further questioning by the defence lawyer put doubt on Hazem’s claim as money was not shown to have been deposited into Umno's bank account.
May 20, 2021 – Former 1Malaysia Development Bhd chief executive officer Mohd Hazem Abdul Rahman was passive and took little action to address serious issues at the company's board meetings, the court heard today.
Ex-prime minister Najib Razak's defence lawyers questioned Hazem and suggested that the person who siphoned 1MDB’s money was businessman Low Taek Jho.
May 19, 2021 – The defence today had a line of questioning towards the witness on the outflow of millions of money from a 1MDB’s subsidiary company, the 1MDB Global Investment Limited.
The witness, a former 1MDB chief executive officer, said he had no answers to the reasons behind the purported transfers.
May 17, 2021 – Former 1MDB chief executive officer Mohd Hazem Abdul Rahman today said he had suspected the former prime minister Najib Razak of being involved in criminal activity at the material time.
The CEO said this after being pressured by the defence lawyer during cross-examination in regards to the CEO’s inaction to report to Najib after having felt something was wrong in the company’s dealings.
The defence lawyer cross-examined the witness, a former 1MDB CEO, if he had abandoned his responsibility to pursue the truth and to protect the interest of the company.
The CEO denied and said that the 1MDB company is a different “animal”.
The court also adjourned early after an announcement of a Covid-19 risk.
"I do not know, I simply do not know," that was former 1MDB CEO Hazem’s recurrent reply as the defence prepared a line of questions on the nitty-gritty of 1MDB and Aabar's joint venture.
Najib’s legal team had hoped to delay the trial for time to obtain more evidence and supporting materials through the United States courts but the request was denied.
On the latter part of the hearing, a former staff consistently denied contributing to the Tun Razak Exchange (TRX) joint venture.
The defence lawyer himself was baffled by how strange the 1MDB business had operated. Major projects that 1MDB took part in were approved without a Board of Directors meeting. The 1MDB management conducted work through instructions from a non-staff. And the 1MDB Board of Advisers had never even met on a single occasion!
Najib’s lawyer, Muhammad Shafee Abdullah relentlessly defended that his client received no objection from the Cabinet Ministers who were in agreement to the creation of 1MDB.
The 1MDB Trials welcomed a new witness, a former Deputy Chief Secretary to the Cabinet, who exposed the Cabinet meeting minutes involving 1MDB formation and plans.
She also shared the special announcement by ex-prime minister Najib on the generous donation from the Crown Prince of Saudi Arabia.
On the record, Jho Low was not part of the company; but off the record, he was everything of the company, according to former 1MDB CEO Mohd Hazem Abdul Rahman.
Everyone knew the rule of not mentioning you-know-who’s name in 1MDB official meetings. Hazem said it was the modus operandi he noted since the beginning of his job.
It is an unspoken culture in the 1MDB workplace to be a follower rather than leader or find your career jeopardised, a former 1MDB CEO said today.
The court heard 10th prosecution witness, Hazem who struggled with built-up frustration as an employee in 1MDB.
Today’s hearing was short, interesting and ended in a warning to the accused Najib Razak on using social media relating to a trial witness.
The two-hour session centred around two risks, one was Najib’s lead defence counsel Shafee Abdullah’s wrist and another was on the risk to the accused.
A disclaimer: There is no risk whatsoever in listening to this podcast.
Embezzlement, conspiracy and boastfulness. Najib’s lawyer, Shafee told the court that Goldman Sachs crafted the criminal scheme with 1MDB.
He also tested 10th prosecution witness, former 1MDB CEO Hazem's awareness of the dirty business.
After four months postponement, the 1MDB trial resumed today where a witness said former prime minister Najib Razak was the company's "showrunner".
Najib's lead counsel, Shafee Abdullah contended that the former 1MDB's CEO did not need to follow suit the directives of 1MDB board of advisers and Najib based on “theory”.
However, the witness said that in "reality", orders were conducted differently.
Nobody wanted the top job in 1MDB as it was high risk and politically exposed, the company’s former CEO told the court today.
1MDB had not been able to service its loans since September 2013 and taking on that role meant taking on a company in debt and in need of a bailout.
Former 1MDB CEO and the prosecution's 10th witness told the court today that the company had raised US$3 billion for investments but had nothing to show for it.
Instead, the money was placed in a bank in Switzerland, and the Malaysian government has had a hard time retrieving that money.
The prosecution's 10th witness told the court today that businessman Low Taek Jho told him that 1MDB was set up for the needs of Najib Razak. The witness also reiterated what has been repeated by prior witnesses, that instructions from Jho came from Najib.
Najib Razak was not in the dark about what was going on in the sovereign wealth, the prosecution's 9th witness told the court today.
In fact, he had a good grasp of what was happening.
Remember the fake Aabar? Aabar BVI, the one incorporated in the British Virgin Islands and controlled by Jho Low?
Turns out, there was another FAKE Aabar -- Aabar Investments PJS Ltd based in the Seychelles. The second fake Aabar was a recipient of US$699.32 million from 1MDB.
Former 1MDB CEO Shahrol Halmi told the court that he had no knowledge that 1MDB’s subsidiary 1MDB Global Investments had transferred RM163 million to a company called Devonshire Funds Limited.
Not only was he not aware, 1MDB’s board of directors were also in the dark about the transfer.
Shahrol Halmi told the court today that 1MDB did not have a contingency plan if it’s joint venture partner in the TRX deal did not come through with the funding of the deal. But, in hindsight, they should have.
Despite 1MDB’s terrible track record in joint venture agreements -- remember the 1MDB - Petro Saudi joint venture -- the company dived head first into another JV agreement with Aabar BVI.
Not only did 1MDB agree to be a JV partner, it did so knowing that it was heavily in debt and would have a hard time raising the US$3 billion that was required.
1MDB’s failure to do proper due diligence led the company into being deceived in a spectacular manner. Najib Razak’s lawyer Shafee Abdullah observed that the company must have been run by a bunch of idiots to have fallen into so many pits.
The lawyer said this is in response to the witnesses’ reply that no due diligence was done in a US$6 billion deal which saw 1MDB send funds to the wrong company.
Najib Razak was found guilty today of all seven charges in the SRC International trial. He is the first former Malaysian prime minister to be charged on criminal counts and convicted.
Judge Mohd Nazlan Mohd Ghazali who presided over the trial said the prosecution had successfully proven its case beyond a reasonable doubt for one count of abuse of power, 3 criminal breach of trust charges and 3 money laundering charges.
On July 28th, 2020, the Kuala Lumpur High Court will decide whether former prime minister Najib Razak is innocent or guilty in the SRC International case.
If you haven’t been able to go back and listen to this podcast from episode 1, you’re in luck. This roundup will catch you up to speed.
A letter from the Dewan Rakyat speaker saved Najib Razak from having to endure an entire day of trial today.
Yesterday, Najib’s lawyer requested that proceedings be adjourned early today to allow Najib to attend Parliament. Defence counsel Shafee Abdullah told Judge Colin that preventing an MP from going to attend to his duty can be subject to contempt of Parliament.
Judge Colin retorted by saying, “Are you saying I will be held in contempt of Parliament if I don't allow this?” And dismissed the application.
But alas, a letter from newly minted speaker Azahar Harun saved the day and Najib will make it in time to speak in Parliament.
Shahrol Halmi vehemently denied accusations by Najib Razak’s lawyer that he colluded with global investment bank Goldman Sachs and fugitive businessman Low Taek Jho to make millions in kickbacks from 1MDB’s acquisition of energy producer Tanjong Energy.
Goldman, who acted as financial adviser, book runner, underwriter and arranger for 1MDB had made millions from the sovereign wealth funds investment and bonds. It raised US$6.5 billion in 1MDB and earned US$600 million in fees.
Shafee Abdullah, Najib’s lead counsel accused Shahrol Halmi of making a deal to sing like a bird so he wouldn’t be charged for his role in 1MDB.
The lawyer told the court that Shahrol should have been one of the earlier persons to be charged in this case but he had instead made a deal with the prosecution to incriminate Najib.
Shahrol however remained composed and simply replied 'no' and 'I disagree' to the lawyers accusations.
The prosecution's 9th witness, former 1MDB CEO Shahrol Halmi once again told the court that he had carried out instructions given out by fugitive businessman Low Taek Jho or Jho Low because he believed that it came from Najib.
Najib’s lawyer was trying to show that the former prime minister was a victim of Jho Low. But Shahrol, in his previous testimony, told the court that the nature of the relationship between Najib and Jho was symbiotic, a mutually beneficial one.
He had also testified that Jho acted as Najib’s proxy in all matters pertaining to 1MDB. This despite the fact that Jho held no official positions in the company or in the government.
After more than 90 days of trial and approximately 2000 pages of submission, Kuala Lumpur High Court Judge Mohd Nazlan Mohd Gazali set July 28, 2020 to deliver his verdict in the Najib Razak SRC international trial.
It did not make sense for Najib to receive gratification years after SRC had received its loan from KWAP, Najib’s lawyer told the court today.
The former prime minister’s lead counsel told the court that this was not a typical pathology of corruption.
On the third day of oral submissions in the SRC International trial, it was finally the prosecution's turn to go before Judge Mohd Nazlan Mohd Ghazali.
While Najib’s lawyers have repeatedly put forth the argument that the former prime minister genuinely believed that the money in his account came from the Saudi royal family, the prosecution today dismissed this argument saying that it was not possible that Najib had no knowledge of the ongoings in his personal accounts.
It was day two of oral submission for the defence counsel in the SRC International trial.
Najib Razak’s lawyer spent the day refuting the prosecution’s argument that Najib has vested interest in SRC and that he had used his power as prime minister, finance minister and advisor emeritus of the company to divert funds from SRC into his private accounts.
On June 1, 2020, Najib Razak Arrived at the Kuala Lumpur High Court for the final leg of his SRC International Trial. His defence team went before Judge Mohd Nazlan Mohd Ghazali to make their oral submission in the case.
When it was time to bring back the money from their investment in Petro Saudi International, Shahrol Halmi told the court that the whole experience was a "pain in the ass".
Shahrol Azral Halmi, the 9th prosecution witness, told the court today that the public accounts committee’s report would have made 1MDB a matter of public record, especially when the opposition got hold of the company’s documents.
Najib Razak turned up in court with a face mask after a six month hiatus in his 1MDB trial which resumed today, May 19, 2020 at the Kuala Lumpur High court.
After nearly a year of hearings, Najib Razak’s SRC International case finally has an end in sight.
Najib’s lead counsel, Shafee Abdullah, informed Judge Mohd Nazlan Mohd Ghazali today that the defence was done.
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Former MACC chief Dzulkifli Ahmad told the court today that the anti-graft agency had suggested charging Najib Razak for criminal misappropriation.
But the files were later classified NFA or No Further Action.
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Today, the court heard how, in 2016, former Attorney-General Mohamed Apandi Ali cleared Najib Razak of wrongdoing over the 1MDB scandal.
But in a 1MDB task force meeting in 2015, then-MACC chief Abu Kassim had said that the former prime minister could be charged for the SRC International case.
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The authenticity and legality of incriminating audio clips released by the Malaysian Anti-Corruption Commission earlier this January came into question in court today.
The recordings showed Najib Razak allegedly conspiring to cover up elements of corruption and money laundering related to 1MDB.
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When the MACC delegation went to Riyadh in 2015, they weren’t able to question the prince behind the Arab donation letters. Instead, they took a statement from his lawyer, Abdullah Al-Koman.
The defence maintained that the prince did not understand English, choosing to send a representative. But today’s witness said otherwise.
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On January 11, 2010, it seemed that Najib Razak was both in Saudi Arabia and Malaysia at the same time.
Previous witness testimonies placed Najib in the kingdom but the prosecution brought up a conflicting story which saw the former leader launching the 1MDB headquarters in Kuala Lumpur on that day.
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Defence witness Rosman Abdullah confirmed today that Najib Razak was indeed Jho Low’s boss.
When RM27 million was transferred from Permai Binaraya into Najib’s 880 AmBank account, the witness was to let Jho know when it was done, so that the businessman could inform his BOSS.
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Today, the court heard how RM37 million made its way into Najib Razak’s private AmBank accounts through Putrajaya Perdana Berhad and its subsidiaries.
The company’s managing director Rosman Abdullah said that he had transferred the money on Jho Low’s instructions.
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Former Foreign Affairs Minister and the defence’s 6th witness, Anifah Aman, today disputed what the previous witness had said -- that former Saudi ruler King Abdullah had offered his financial help rather than it having been requested by Malaysia.
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On Day 77 of Najib Razak’s SRC International trial, the court was told that the RM2.6 billion Arab donation was requested by Malaysia.
The defence’s 5th witness also said that the funds were never brought up in cabinet meetings nor was it made public.
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Former Malaysian ambassador to Saudi Arabia Syed Omar Al Saggaf testified today that Najib Razak and the late King Abdullah had a special relationship. So much so that every time Najib was in Saudi Arabia, he was always granted an audience with the king.
According to the witness, the ruler was so impressed with Najib’s administration that he offered his help to ensure that the same government stayed in power.
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Former Treasury Secretary-General Mohd Irwan Serigar Abdullah, who was the defence’s third witness, testified today that government loans typically took between 1 to 3 months to process.
But in SRC’s case, the application for the first KWAP loan to the cabinet’s approval took a mere 3 days. And this, Najib didn’t find unusual.
Najib Razak relied on Jho Low because he had confirmed that the businessman had a special relationship with the Saudi royalty.
The former prime minister, who went back to the dock after 16 days of questioning, told the High Court this news made him believe that the US$620 million had personally come from the Saudi King.
Admitting that he might not be the most intelligent person, Najib Razak insisted in court today he wasn’t stupid enough to do something so bizarre as transferring money from a Ministry of Finance company to his private accounts.
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Najib Razak today said he had spent money in his personal bank accounts thinking it was the balance of the Arab donation.
The former prime minister also insisted that he never knew or instructed SRC money to be transferred into his AmBank accounts.
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After two days arguing over whether a handwriting expert was needed to verify Najib Razak's signatures, the former leader got his wish when his application was approved by Judge Mohd Nazlan Mohd Ghazali today.
The judge said Najib was entitled to procure the relevant evidence and that the court has to ensure his constitutional right to a fair trial.
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Najib Razak told the court that he trusted SRC’s board of directors -- a statement he made more than once -- as it comprised of highly-qualified individuals.
He trusted them so much that he didn’t meet them for seven years.
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Court proceedings were cut short today because Najib’s lawyer had the flu.
Nevertheless, lawyers on both sides made the most of the morning, arguing over whether or not an expert witness should be called in to verify the authenticity of Najib Razak’s signatures - which the ex-PM had claimed were forgeries.
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First, Najib Razak denied even knowing Jho Low. Then he said he DID know him, but they weren’t close. Today, Najib admitted that he was in fact in direct contact with the businessman to ensure his accounts were flush with cash to issue cheques.
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Najib Razak told the court today that he was a victim who benefited from Jho Low’s manipulation of his bank accounts.
But even though he had gained millions of ringgit, he didn’t ask for any of it, the former PM said.
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Today, Najib Razak admitted that after he found out that the RM42 million in his account originated from SRC, he did not return the money. Why? Because he wanted to see the outcome of the investigation first.
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On the first day of trial for the new year, the prosecution tried to get Najib Razak impeached over alleged contradictions between what he had told the MACC, and what he had told the court. But the judge threw out the application for impeachment.
And so the cross-examination of Najib as a witness in his own trial continued -- with the former PM holding fast to what is looking to be his mantra: that he was too busy running the country to notice that his signature had been forged.
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Najib Razak, the former prime minister and Finance Minister, told the court today that he never knew exactly how much money he had in his personal accounts, but he had a sense of how much balance there was.
However, he asserted that he was very careful with managing the country’s money, but did not pay much attention to his own accounts.
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I can’t be held responsible for someone else’s wrongs, Najib Razak told the court today.
He insisted that he was completely in the dark about the movement of funds in SRC International, as well as his own bank accounts.
Someone else had done this without his knowledge while he was too busy looking after the country to attend to such operational matters, the former PM said.
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Day five of being in the witness stand seemed to have gotten to Najib Razak, who lost his cool after the prosecutor turned up the heat in his cross-examination.
It must have all been too much for the former prime minister, who slipped out during a break in the evening… and never came back.
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On his fourth day on the witness stand, Najib Razak explained why he had bought the RM460,000 watch for his wife in Hawaii -- it was her birthday, and she was upset that her husband had to leave the vacation early to attend to flood victims back home in Malaysia.
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On his third day on the witness stand, Najib Razak stood by his position that he had done nothing wrong. He said Jho Low and Nik Faisal were liars who had kept him in the dark.
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On his second day on the witness stand, Najib Razak continued to plead his innocence. He did nothing wrong, he said. In fact, it was the prosecution's witnesses who were wrong, and rude and out for revenge.
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Today, after months in the accused dock, former PM Najib Razak finally took the witness stand to speak for himself as the defence’s first witness in the SRC International trial.
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It had been 2 months since Najib Razak last sat in the accused dock in Judge Mohd Nazlan Mohd Ghazali’s courtroom. And this morning, after the prosecution had spent over 50 days presenting their case, the judge ruled that there was a prima facie case against the former prime minister and ordered him to enter his defence in the SRC International trial.
Najib chose to go on the witness stand to give his sworn testimony.
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1MDB unknowingly sent money to Good Star not once, but twice. In 2009, the company sent Good Star US$700 million and then in 2011, it transferred another US$330 million. That’s more than US$1 billion, into the wrong account.
Former 1MDB CEO Shahrol Halmi, however, maintained that he was under the impression that Good Star was a subsidiary of PetroSaudi. Hence he had no reason to be suspicious of anything.
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Remember the US$500 million 1MDB lent to PetroSaudi? It turns out that 82 million Swiss francs from the total amount was diverted to Good Star, a company linked to fugitive businessman Jho Low.
And the rest of the money? No one knows what happened to it, not even the CEO at the time, Shahrol Halmi.
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Proceedings kicked off this morning with former 1MDB CEO Shahrol Halmi still on the stand, where he has been for more than a month.
In his questioning today, Shahrol revealed that PetroSaudi owes 1MDB US$2.2 billion, which included a failed joint venture, Murabaha borrowings and loans.
Not only that, it seemed that the 1MDB-PetroSaudi joint venture company continued to use 1MDB’s name even after the company disposed its stake when they converted their investment into Murabaha notes.
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Court was back in session today after the previous week was cut short due to Najib Razak’s sore eyes. But after obtaining an MC for his illness, the former prime minister had gone down to Tanjung Piai to support Barisan Nasional in their by-election campaign.
This morning, lead prosecutor Gopal Sri Ram asked that the judge impose tougher bail conditions on Najib for his behaviour.
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Today's proceedings was a quick two-hour session, as Najib Razak’s lawyer Shafee Abdullah had other matters to attend to.
As Shafee delved right into his cross-examination of the prosecution’s 9th witness Shahrol Halmi, we find out that some of the US$700 million channeled into Good Star, ended up in Tarek Obaid’s account.
Who is Tarek Obaid, you ask? Listen to find out.
Over and over again, we have heard 1MDB’s ex-CEO testify about how he had wholeheartedly trusted Casey Tang, Jho Low, and most of all, Najib -- because he believed that they only had the best of intentions.
But as the saying goes, the road to hell is paved with good intentions. And Shahrol Halmi said today, that if he could go back in time, he would immediately call it quits.
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Najib Razak and 1MDB are synonymous, the company's former CEO testified today.
And this was the reason Shahrol Halmi placed everything that Najib wanted for the state fund as top priority -- because he believed that the former prime minister only had good intentions for both the company and the country.
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Over the past few weeks we’ve heard from former 1MDB CEO Shahrol Halmi about how he carried out instructions, no questions asked.
Today, he testified that two years after 1MDB pumped US$700 million into a failed joint venture, he finally asked Najib about the money and how to get it back.
In response, all he got from Najib was ask Jho Low.
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Today, we heard how Shahrol Halmi, the former 1MDB CEO, signed minutes of a meeting that he never attended because he believed ultimate power over 1MDB resided in Najib. And whatever the Prime Minister wanted, he got it.
We also heard how the state fund’s memorandum and articles of associations were amended to give Najib even more power. This meant he held not one, not two, but three positions of absolute authority in the company, making his the emperor of 1MDB.
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Najib was back in court this morning after pulling a no-show yesterday.
And, the court heard about another non-appearance: How a joint-venture was birthed out of Najib’s personal relationship with Saudi royalty which led to 1MDB having to scramble and skipping out on carrying due diligence to get the JV signed in time for a Saudi prince’s royal visit.
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The 20th day of the trial began at 2pm and was a short one. The court revisited how Najib Razak had prevented the sovereign wealth fund from being audited.
As defence lawyer Shafee Abdullah continued his cross-examination of the 9th witness Shahrol Halmi, we also heard how the scandal could have come to light much earlier -- if Shahrol had not followed the instructions given to him -- in the lawyer’s words -- blindly.
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Today the court heard a short exchange of Italian words. Shahrol Halmi called Jho Low Najib’s 'consiglier' -- an advisor to a mafia boss. And In return, Shafee Abdullah called the witness a 'soprammobili' or a table ornament, implying that he was basically useless as the CEO of 1MDB.
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Day 18 of Najib Razak's 1MDB trial was all about the bonds that were raised by the Terengganu Investment Authority.
Today, we heard how these bonds were sold at a discounted rate and subsequently sold back to Malaysian companies at full price, profiting certain parties.
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Shahrol Halmi admitted that in his role as TIA/1MDB's CEO, he was in over his head, and had to rely on the advice of others.
He agreed, when Najib’s lawyer Shafee Abdullah suggested that his inexperience was probably why he was chosen to helm the scandal-ridden fund.
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Today, the prosecution’s 9th witness and former 1MDB CEO Shahrol Halmi took the court back in time: to year 2008, when a text message and a meeting at a royal palace, kicked off his role in the saga.
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Today, we heard how Najib Razak had basically authorised himself to raise some US$3 billion — money that was meant to be poured into a joint venture which ultimately fell through, and money that along with hundreds of millions more, is now nowhere to be found.
You’ll also hear on how government agencies tried to control the narrative around 1MDB: downplay Najib’s role and make it look like a political attack against the PM.
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The prosecution’s 9th witness, Shahrol Halmi, described to the court today how Jho Low had told him not to worry, because the Boss (aka Najib) would be able to bulldoze his way through any obstacles that came in their way.
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One year after the 1MDB-PetroSaudi venture, the sovereign wealth fund decided to pump in more money despite the hesitation of its CEO.
Shahrol Halmi, who was CEO at the time, said he felt uncomfortable with this second loan. But when he voiced his concerns, Najib’s endorsement trumped everything, and the loan went through.
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Over the past couple of weeks, we have been hearing about the close relationship Najib Razak had with fugitive businessman, Jho Low.
Today, when asked by prosecutor Gopal Sri Ram, former TIA and 1MDB CEO Shahrol Halmi called the relationship symbiotic. A mutually beneficial relationship.
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Najib Razak had the final say over all of 1MDB’s decisions, the witness said today. His power, Shahrol Halmi testified, came from his positions as prime minister, finance minister and chairman of the board. Listen on as we bring you through how TIA became 1MDB, after a royal disagreement.
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On day 10 of Najib Razak’s 1MDB trial, we were introduced to a new witness: the former CEO of 1MDB, who provided further testimony on just how close Najib and Jho Low were — so much so that the latter could walk right into the former PM’s home and ask his staff for a drink.
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Proceedings seemed like it might just be settling into a routine on Day 9 of the trial, after encountering some interruptions when Najib Razak took ill with eye trouble last week.
His lawyer Shafee Abdullah continued cross-examination of witness Amhari Nazaruddin, who told the court today that the former PM trusted him enough to go to China to negotiate what he insisted was a bailout for 1MDB.
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After two rounds of conjunctivitis, Najib Razak’s eyes seemed to be acting up again — this time with an allergic reaction.
Meanwhile, Najib’s lawyer Shafee Abdullah, dissatisfied with the witness’ answers, accused Amhari Nazaruddin of having jaundiced eyes.
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Najib Razak was back in court again today after getting a week off last week, due to a second bout of conjunctivitis.
His former special aide, Amhari was still on the stand. His testimony today revealed several big names that were brought up in the formation of TIA, which is 1MDB's precursor.
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Continuing his explosive testimony, Amhari described just how close Jho Low was to Najib and his family.
Jho, he said, was invited to exclusive events hosted by the former prime minister, and was well-liked by Rosmah Mansor, Najib’s wife.
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Ahli antropologi dan aktivis memberi cadangan apakah cara yang boleh digunakan untuk Malaysia mencapai perpaduan. - 7 September, 2019.
Amhari has been telling us about Jho Low, who is now on the run and wanted in several countries. The witness said he knew the man well, having worked with him for many years.
And if there was one thing that stood out about Jho, he said, it’s that he would do whatever it takes to get what he wants. And he always got what he wanted.
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Today, things took an emotional turn as the witness described how he was afraid of being used as a pawn to cover up criminal activities linked to 1MDB.
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Day 3 of Najib Razak’s 1MDB trial was another half day in court. There were 2 witnesses before proceedings ended at lunch.
The first was Rafidah Yahya, an assistant registrar at the Companies Commission Malaysia or better known as SSM. Just like last week, she came to verify more documents.
The second was Amhari Efendi Nazrauddin, Najib’s former special officer, who offered an insight into the man that is Jho Low -- whom he said had extraordinary powers.
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Walaupun Malaysia sudah mencapai 62 tahun merdeka, namun ahli akademik merasakan banyak punca yang mengagalkan perpaduan masyarakat berbilang bangsa.
Malah, mereka menyifatkan sikap prejudis dan jurang akan semakin membarah sekiranya perbezaan tidak ditangani dengan baik.
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On day two of the 1MDB trial, three witnesses took the stand.
The first two were recipients of Najib Razak’s cheques, from the ousted prime minister's personal accounts said to contain illicit funds. The third witness gave the court a history lesson on 1MDB's formation.
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Najib Razak’s much anticipated #1MDB trial finally began today.
The 1MDB scandal has often been touted as one of the biggest financial scandals, not just in Malaysia, but the world.
Countries like the United States, Singapore and Switzerland have launched their own investigations into the scandal.
Bankers have been charged, banned from re-entering the industry, and jailed.
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After 56 days of trial, the prosecution round of Najib Razak’s SRC International trial comes to an end.
On November 11, the judge will decide if the former prime minister will be called to enter his defence.
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The Najib Razak 1MDB trial will begin on August 28, 2019. It’s been touted as the biggest financial scandal in the world.
We’ll be bringing you the proceedings on podcast daily. Watch this space!
Remember the RM3.3 million charged to Najib Razak’s credit cards at a Swiss jeweller? Turns out, it was for the wife of a former Qatari leader.
Today, Najib’s lawyer brought out a mysterious thank you note from the recipient. It was addressed to the former PM and his wife Rosmah Mansor.
But the witness, who had investigated the SRC case, had never seen nor heard of the note. Not even when he took Rosmah’s statement.
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It was Najib Razak, said the prosecution’s final witness.
Tensions still ran high between Rosli Husain and Najib’s lawyer Harvey.
In a series of rapid fire questions aimed at the witness that attempted to paint Jho Low as the mastermind of the money transfers, Rosli stood his ground, firmly saying NO. – August 22, 2019.
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Instead of staring blankly into space as he typically does, Najib Razak seemed to have his focus on the heated exchange between his lawyer Harvey and the prosecution’s final witness, Rosli Husain.
Harvey questioned whether the MACC investigating officer had leaked documents to the Sarawak Report, an investigative reporting portal.
Rosli strongly denied this but admitted that an exposé published by the website became the basis of his investigations into SRC.
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After a recent bout of pink eye, Najib Razak decided to switch up his usual coffee order today. Instead of a cappuccino or americano, he went for a strawberry-flavoured frappe.
Meanwhile, Judge Collin Lawrence Sequerah who is presiding over the #1MDB trial, is not letting the lawyers take their sweet time to wrap up SRC proceedings.
Despite several arguments to delay the 1MDB case, the judge was steadfast and set August 26th to start the trial.
The #SRCtrial will now have to finish up within this strict timeline.
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The court heard today how Najib Razak's trusted aides vanished into thin air when the defeated prime minister fell from grace.
The prosecution's last witness, an MACC investigating officer told the court that both Low Taek Jho and Nik Faisal Ariff Kamil disappeared rather than cooperate with the authorities investigating fund transfers to Najib's private bank accounts.
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On the 50th day of Najib Razak’s SRC International trial, the former PM had a special supporter in the public gallery. Though brief, his daughter, Nooryana, was in court to lend moral support.
And after 50 days of trial, the prosecution’s 57th and final witness, the case investigating officer, took the stand this morning.
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Ahmad Husni Hanadzlah had a bone to pick with Najib Razak, and it showed. The former finance minister said Najib had not only blocked him out of 1MDB and SRC, he had also accused him of corruption and sexual harassment.
And this, Husni said, was because he had questioned what was going on with the two companies.
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Najib Razak wrote the cheques. He had to know that there were funds in his accounts, the first witness of the day said. Unless money grew on trees, the prosecutor questioning her quipped.
But money doesn't grow on trees. And we heard again today how bankers and businessmen made it possible for Najib to spend far beyond his means.
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Over the past few months of following the SRC International trial, one of the things we learned from various witnesses who took the stand -- was that the transactions that involved Najib Razak’s bank accounts formed a tangled and convoluted web.
Today, this was again highlighted through the way money was moved from SRC to construction firm Putrajaya Perdana, to Najib’s accounts and back to SRC.
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Lies and deception were almost always used to keep Najib Razak on the straight and true, and in the black when his AmBank accounts were nearly overdrawn.
The court heard today how the "fatty one", as he was called by his associates, used an assortment of tricks to mask the money trail that eventually led to Najib’s AmBank accounts.
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It appeared that Najib Razak used money faster than he received it. His accounts were constantly overdrawn but cheques would still go through because Jho Low made sure the funds were topped up.
But during one of the times Low couldn’t be contacted, the relationship manager for his accounts wired her own money in.
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Between 2011 and 2013, Najib Razak received some US$1 billion in foreign funds from Saudi Arabia. Part of it were allegedly gifts and donations from Saudi Arabia.
The court heard today how fugitive businessman Jho Low had a hand in the transfer of funds straight into the former PM’s bank account. The witness said she didn't know who the bigger boss was -- Najib or Jho Low.
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Najib Razak turned up at the Kuala Lumpur courthouse today with his wife Rosmah Mansor in tow today, he for his case postponed from yesterday due to his lawyer's medical leave and she for her own cases.
But Najib's SRC International trial was again interrupted...BY A BOMB SCARE.
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Day 42 of Najib Razak's SRC International trial saw the former prime minister surprised with a birthday cake and tensions running high in the courtroom.
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Imagine this: You issue a cheque for a sum of money but your account is overdrawn. You would expect the cheque to bounce. Right?
Not if you were Prime Minister Najib Razak.
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On Day 40 of the SRC International trial, Najib Razak got himself in a bit of hot soup... other than the fact that he faces 7 charges for receiving RM42 million in his bank accounts, that is.
The former PM who seems to be using social media to lobby support, had written a Facebook post in an attempt to clear his name over the RM3.3 million he spent at a Swiss jeweler in a single day.
This did not sit well with the prosecution, and the judge gave a stern warning to Najib that any more trial-related postings will be held in contempt of court.
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It seemed like everyone was getting on each other’s nerves in court today, with some flare-ups between the 49th witness and the defence lawyers, between defence lawyers and the prosecution, and even between the judge and Najib Razak.
And then the court heard that in 2015, Najib was very annoyed to find out that the RM42 mil in his account came from Ihsan Perdana. He said it put his reputation and career in jeopardy.
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*This episode includes a behind-the-scenes look into the daily coverage of the trial with our colleague Timothy Achariam.
Yesterday, the court heard about Najib Razak’s penchant for the finer things in life, paid for with two platinum credit cards. More than RM3 million was spent on luxury jewellery, apparently meant for royalty.
Today, we found out about how RM42 million from a charitable foundation was transferred to AmBank accounts the former PM's cards were linked to.
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What would you buy with RM4 million? Well, it seemed that Najib Razak spent it at a Swiss jeweller, Chanel and on luxurious hotel stays in Italy, the Hawaiian islands and Thailand respectively.
All of these expenses were charged to his two credit cards from Ambank: a Visa platinum and Mastercard platinum, the high court heard on #Day37 in the ongoing #SRC International trial.
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The phones and hard drive that were recovered from the AmBank raid in 2015 was brought up again today on Day 35 of the Najib Razak SRC trial.
The court was told that 500 pages worth of messages was extracted from AmBank relationship manager Joanna Yu's Blackberry phone.
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SRC asked KWAP for an RM3.95 billion loan. KWAP said they would only give RM1 billion. KWAP chairman met Najib Razak to tell him this, and Najib says to give them RM2 billion instead. That was the first loan.
Then SRC asked for another RM2 billion, to which KWAP agreed. Najib called the KWAP chairman and asked him to disburse the money immediately, the government guarantee can come later. That was issued 2 months later.
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Najib Razak approved the transfer of ownership of SRC International from 1MDB to MOF Inc -- by signing the document on the BONNET of his car, at the Subang Airport in early 2012.
The prosecution’s 44th witness -- a retired Treasury deputy sec-gen, said that it came a point where officers would just ignore protocol and execute whatever instructions given from above.
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It has been a year since his arrest but Najib Razak appeared impressed by his fans who greeted him at the court porch this morning. Shaking hands with them while smiling widely, he remarked, "Hari-hari ada" - you’re all here, faithfully, every day.
Though their numbers fluctuate day to day, the former prime minister always has at least one supporter waiting for him in court.
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On Monday, Najib Razak wasn’t able to get time off to attend Parliament. But today, he managed to get a small lee-way. Judge Nazlan allowed the Pekan MP an extended lunch break to sit in for a briefing for opposition members at the Dewan Rakyat.
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Najib Razak appeared to indulge in a little bit of vanity before court began today.
In a Facebook post, he shared a screenshot of a media article which used a very generic photo of him and asked his followers if that photo was OK.
Instead, he suggested pictures with a more flattering pose -- and accompanied those with images of himself leaning over a desk while talking on the phone.
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Najib Razak wanted to go to Parliament today. His lawyers argued fiercely, saying that he had to fulfill his duty as an MP. But the judge didn’t allow it.
The former prime minister didn’t let on in court, but during lunch, he took to Facebook to lament the no-win situation he felt he was in.
He said: If he went to Parliament, he might face suspension. But if he didn’t, he would be accused of being a coward. Hence, he has taken to social media to air his opinions, where he says people are free to respond to him.
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People at the Kuala Lumpur High Court today clamoured to fit into the same lift as Najib Razak as he headed up to the fifth floor courtroom for his SRC International trial. Perhaps they were hoping to rub shoulders with the former prime minister. Najib smiled but did not react otherwise.
Suboh Mohd Yassin, a name which had been mentioned repeatedly in the early days of the trial, finally took the stand today. As the trial entered Day 29, we heard how the former SRC director was warned to leave the country in lieu of investigations into the company.
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From 2015 to 2017, the Finance Ministry had to fork out RM605 million to pay SRC International’s overdue interest payment for its loans from KWAP -- loans that Najib Razak vouched for.
But to this day, SRC never paid back any of its loans, and the government ended up footing the bill for RM4.15 billion, which it has until 2022 to repay.
In case you're wondering what RM605 million looks like: let’s say an average household in Malaysia earns RM5,000 a month. RM605 million would sustain 120,000 households.
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[EDIT] The total amount MoF loaned to SRC was RM605 million but only RM595 million was used.
Of the third RM250 million loan, SRC only took RM213 million.
Najib Razak made himself Minister of Finance, 1MDB chairman and advisor emeritus of SRC International. And today, we heard how, as head of the Cabinet of Malaysia, he used his powers to obtain a government guarantee to push for KWAP’s RM4 billion loan to SRC.
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The prosecution’s 39th witness Ismee Ismail dug in his heels while defence lawyers turned up the heat on him, as he took the stand for the 6th day today.
He stood by his testimony that Najib Razak had given himself sweeping powers to control SRC International -- and had executed those powers through now-missing CEO Nik Faisal Ariff Kamil, whose whereabouts are currently unknown. Ismee insisted that despite an advisory role on paper, in reality the company’s board of directors had to seek Najib’s approval for its decisions.
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The SRC International board seemed to only rely on their chief executive liaising with their advisor emeritus, then-Prime Minister Najib Razak.
According to the prosecution’s 39th witness, SRC’s board had placed full trust in their now-missing CEO Nik Faisal Ariff Kamil -- who had a direct line to the former PM -- so much so that they did not verify or question the directives that he brought from Najib.
The wheels of justice continue to turn ever slowly as Najib Razak’s SRC International trial entered its 24th day.
Najib Razak got off early today as his lawyers asked for an early adjournment to sift through documents. He was seen smiling, pleased, as was everyone else, for a respite from long full days in court.
He might be prime minister, finance minister and advisor emeritus but Najib Razak had nothing to do with the financial shenanigans in SRC International, or so his lawyers suggested today.
Instead, the former prime minister's lawyers seemed to crank up the blame game today, as they endeavoured to paint a picture that former SRC International CEO Nik Faisal Ariff Kamil was the mastermind behind what transpired in the government company.
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Day 22 of Najib Razak's SRC International saw former SRC chairman Ismee Ismail take the stand for the second day.
Proceedings today further explored how Najib had used his powers as both finance minister and prime minister to give himself sweeping powers and control as advisor emeritus over SRC.
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Najib Razak's SRC International trial continued to day 21 after taking a break for Hari Raya.
It looked like the former prime minister had a good break as he took to social media to share his revelry -- celebrating an open house, a new designer t-shirt and a daughter fresh out of Harvard with a Master’s degree.
Taking the stand today was former KWAP CEO Azian Mohd Noh and former Tabung Haji CEO Ismee Ismail took the stand today.
Sometime in 2015, Najib Razak was apparently very upset. The then-PM was dismayed, it seemed, to have learned that millions were transferred from SRC International into his private bank accounts, via Ihsan Perdana, SRC’s charitable arm.
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There were no supporters at the courthouse but that did not faze Najib Razak. He laughed and smiled as he talked to his aide and friends outside the courtroom as his SRC International trial resumed today after a week's break.
But as soon as he entered the dock, he sat down with a serious look on his face.
NajibRazak “charitable acts” during his time as the prime minister was reciprocated, and funded, by another charity arm.
On #day18, the court heard that millions intended for corporate social responsibility activities were transferred from #SRC International's charitable arm Ihsan Perdana, into Najib’s personal bank accounts.
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Day 17 of the NajibRazak's SRC trial was a short hearing due to the Ramadan fasting month, but it felt like a really long day as the defence continued prodding the 35th witness from KWAP regarding SRC’s RM4 bil loan from the fund.
One year ago to date, Najib Razak faced the prospect of winning or losing his seat as prime minister. He lost, and today found himself sitting in the dock for the 16th day as his SRC International continues.
Najib was also accused of another misdeed in court today -- taking a selfie while proceedings were on-going, which is a big no-no. He denied it and said that he had only turned on the front camera on his phone to check his face.
Najib Razak nodded off again today as the court heard about Putra Perdana Construction and its subsidiaries, all of which are linked to fugitive businessman, Low Taek Jho, or Jho Low.
Why did SRC transfer money to this company? And why then did this company give money to Najib? Listen to find out more.
Lethargy, irritable mood and snippiness dominated day 14 of Najib Razak's SRC International trial.
Najib and his lead counsel Shafee Abdullah both dozed off during proceedings today. Witness Azizul Imran Ahmat, who was back on the dock for the third day, was irritable and responded sarcastically when prodded by the defence. Listen, to find out more.
On day 13 of Najib Razak's SRC International trial, the court heard how the Retirement Fund Incorporated, or KWAP, breached its own guidelines in approving a RM4 billion loan to SRC International, which only had RM1 million in assets.
The loan which was supposed to be used as working capital was used for myriad purposes, including media monitoring and credit cards, to home renovations and even political espionage.
Day 12 of the trial heard how much Najib Razak earned as prime minister - and it was certainly not enough to sustain a lifestyle full of designer suits, Birkin bags and jewellery that he and his wife Rosmah Mansor led.
Political espionage and strategy using the 1Malaysia brand came up on day 11 of Najib Razak’s SRC International trial. All part of the drama-mystery that is the Najib Razak trial.
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Day 10 of Najib Razak’s SRC International trial was like watching reruns of the previous two days. But instead of witness Uma Devi reading out her 42-page statement, defence lawyer Harvinderjit Singh picked through specific portions of her testimony, putting certain dates and transactions under the microscope.
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Today’s story is all about the grimy details of the money trail. Also listen to how #NajibRazak's lawyers tried to build a case that he in fact, just a victim of exploitation of a loophole or a faulty banking system.
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Today, we followed the money trail. Unimaginable sums of money were transferred into Najib Razak’s private bank accounts from SRC International, via subsidiaries Gandingan Mentari and Ihsan Perdana. And Najib? The bank statements showed he used the money to pay credit card bills, political parties, maintain his houses, influence the media and more.
Years before being called Bossku, Najib Razak was also called AhJibGor. And Big Brother Jib was watching you. We've wrapped up an info-packed #Day7 in court for you.
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Najib Razak's trial entered day 6 today. The serious tone of the proceedings was lifted in a brief moment of humour.
A witness got him to laugh when he described the former prime minister by his recently acquired street catch phrase used by Rempit bikers, Malu Apa Bossku.
Listen to our wrap of day 6 to find out what happened in court today.
A banker, an interior designer and a plumber walked into court. And if you're waiting for the punchline, so are we.
The three were called in as witnesses on day five of Najib Razak’s SRC International trial - to talk about the money found in the former prime minister's bank accounts.
After a long day of sitting calmly in the courtroom where even the ‘Billion Dollar Whale’ book documenting the 1MDB scandal was brought out, Najib Razak lost his cool as he prepared to leave for the day, a stark contrast to how his day started.
Najib Razak brought the same two books to court today but day three of his trial had so much action that he didn't get to even turn a page.
His defence lawyers ramped up the action in the courtroom while cross-examining the second prosecution witness, Azizul Adzani Abdul Ghafar.
Day two of Najib Razak's SRC International trial was spent tediously poring over bundles of documents.
Luckily, the former prime minister kept himself occupied with two books that he brought.
Stay tuned for more on the trial tomorrow.
The Federal Court today dismissed all three of Najib Razak’s appeals on interlocutory matters related to his SRC International case.
A seven-judge panel, led by Chief Justice Richard Malanjum, also ruled in favour of Attorney-General Tommy Thomas by allowing his appeal against a court order to show the appointment letter of fiat prosecutor Sulaiman Abdullah.
Meanwhile, Najib’s wife Rosmah Mansor was in the Kuala Lumpur sessions court facing a new corruption charge of her own, relating to the Sarawak solar hybrid project for rural schools.
The Federal Court has postponed the hearing of a review application by Najib Razak on its decision to lift the stay on his SRC International Sdn Bhd trial.
Chief Justice Richard Malanjum said the matter will be heard on Wednesday, the same day that a panel led by him will decide on four interlocutory appeals relating to the SRC International case.
In this short bonus episode, let’s look at the numerous delays that have dogged this case.
Ten years ago, Najib Razak took the prime minister’s seat. Today, he took another seat. He is facing the first of several trials after a two-month delay.
This podcast recaps the trial today, which focused on financial transactions in the SRC International, a subsidiary unit of 1Malaysia Development Bhd.
Najib faces three counts of criminal breach of trust, three counts of money-laundering and one count of power abuse over sums amounting to RM42 million belonging to SRC. If found guilty, Najib faces up to 20 years’ jail and a fine.
*Editors note: The total number of charges faced by Najib Razak is 42, and not 39 as mentioned in the podcast.