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Published on: Thursday, May 20, 2021
By: Bernama
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Kuala Lumpur: The validity of signatures on key bank documents for millions of ringgit of transfers was raised by Datuk Seri Najib Tun Razak’s
(pic) defence team during the trial of his 1Malaysia Development Berhad (1MDB) case at the High Court here Wednesday.
The issue, however, was objected to by the prosecution.
Najib’s counsel Wan Aizuddin Wan Mohammad brought up the issue when cross-examined the former chief executive of 1MDB Mohd Hazem Abd Rahman.
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Wan Aizuddin: Look at the signatures on the transfer instructions involving millions of ringgit from 1MDB Global Investments Limited (1MDB-GIL) to several other entities. Do you know whose signatures were there?
Thursday, 20 May 2021 04:04 PM MYT
BY IDA LIM
Datuk Seri Najib Razak is pictured at the Kuala Lumpur High Court May 20, 2021. ― Picture by Hari Anggara
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KUALA LUMPUR, May 20 Datuk Seri Najib Razak’s lawyers today sought to suggest that the now fugitive Low Taek Jho was akin to an octopus who had global reach in his scheme involving government-owned firm 1Malaysia Development Berhad’s (1MDB) funds.
In Najib’s ongoing trial today, his lawyers sought to highlight Low’s role in the siphoning of hundreds of millions of US dollars from 1MDB unit 1MDB Global Investments Limited’s (1MDB GIL) bank accounts into companies controlled or owned by Low, as part of Najib’s defence against the power abuse and money laundering charges in the trial.
Thursday, 20 May 2021 06:45 PM MYT
BY IDA LIM
Former prime minister Datuk Seri Najib Razak is pictured at Kuala Lumpur High Court May 20, 2021. ― Picture by Hari Anggara
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KUALA LUMPUR, May 20 The over US$2.7 billion deposited in a 1Malaysia Development Berhad (1MDB) subsidiary’s bank account in March 2013 dwindled to just US$60,000 within months, with the funds flowing to various companies including those now known to be controlled by fugitive Low Taek Jho and his associates, the High Court heard today.
Mohd Hazem Abd Rahman, the chief executive of 1MDB from March 2013 to early January 2015, confirmed in court that he did not inform the 1MDB board of the status of the funds in the bank account, including when its balance fell to just around US$60,000.
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