Najib's Defence Contends Former 1MDB CEO Allegedly Prioritised Jho Low's Instructions
PUTRAJAYA, Oct 24 (Bernama) -- In the High Court today, the defence for Datuk Seri Najib Tun Razak in the 1MDB trial argued that the company's senior management, specifically former CEO Datuk Shahrol Azral Ibrahim Halmi, allegedly acted improperly by prioritising the instructions of fugitive financier Low Taek Jho (Jho Low) over the directives of the 1MDB board of directors.
Najib’s counsel, Wan Azwan Aiman Wan Fakhruddi, submitted that despite Shahrol Azral's misconduct and compromised credibility as a witness, the prosecution is relying on his testimony. He specifically contested the witness's claim that 'everything had Najib's blessings,' noting it is based entirely on an alleged hearsay statement from Jho Low.
He further detailed the alleged misconduct, which included withholding material information from the 1MDB board of directors and the Minister of Finance, engaging in undisclosed correspondence with Jho Low, and formally approving minutes of meetings that, to his (Shahrol Azral) knowledge, never took place.
"He took instructions directly from Jho Low through secret correspondence, which he later destroyed and left key negotiations with Goldman Sachs and International Petroleum Investment Co entirely to the fugitive businessman.
"Shahrol Azral had also signed the agreement to raise USD1.75 billion in indebtedness without reading the full document, relying only on the signing page,” he said during Najib's trial for the alleged misappropriation of RM2.3 billion in 1MDB funds before Justice Datuk Collin Lawrence Sequerah.
He further submitted that another character tied to Jho Low was 1MDB's former general counsel, Jasmine Loo Ai Swan, who was responsible for preparing the Circular Resolution for the Issuance of the USD1.75 billion notes by 1MDB Energy (Langat) Limited for the purpose of funding the acquisition of Mastika Lagenda Sdn Bhd.
"Jasmine Loo, as it turns out, was not the damsel in distress as she would like us to believe. She failed to conduct a simple corporate search on Petrosaudi International Ltd, showing that it was not an oversight on her part but an overt act.
"She is also a former fugitive who once fled to Myanmar and was supported by none other than Jho Low himself," he said, stressing that the extent to which these red flags concerning the prosecution's witnesses are ignored is deeply telling.
The defence is now advancing arguments regarding the second charge against Najib, pursuant to Section 23(1) of the Malaysian Anti-Corruption Commission Act 2009, accusing him of abusing his position to obtain a gratification of RM90,899,927.28.
The alleged acts include approving the acquisition of Mastika Lagenda Sdn Bhd equity at an aggregate purchase price of up to RM2.75 billion, and authorising 1MDB to issue a 10-year, USD 1.75 billion Structured Loan Note.
On May 6, Najib’s defence closed its case after calling 26 witnesses, and the court scheduled nine days beginning Oct 21 for oral submissions. Najib, 72, faces four charges of using his position to obtain RM2.3 billion in 1MDB funds as gratification at the AmIslamic Bank Berhad branch on Jalan Raja Chulan, Bukit Ceylon here between Feb 24, 2011, and Dec 19, 2014.
He was charged under Section 23(1) of the MACC Act and faces up to 20 years in prison and a fine of either five times the amount of the bribe or RM10,000, whichever is higher, upon conviction.
The former Pekan member of parliament is also accused of 21 counts of money laundering, allegedly committed at the same bank between March 22, 2013, and Aug 30, 2013.
These charges were brought under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which provides for a maximum fine of RM5 million and imprisonment of up to five years, or both, upon conviction.
Najib has been serving his sentence at Kajang Prison since Aug 23, 2022, following his conviction for misappropriating RM42 million from SRC International Sdn Bhd.
The High Court initially sentenced him to 12 years in prison and fined him RM210 million, a decision which was subsequently upheld by the Court of Appeal and the Federal Court.
However, his petition for a royal pardon on Sept 2, 2022, resulted in the Pardons Board halving his prison sentence to six years and reducing his fine to RM50 million.
The hearing resumes on Oct 27.
-- BERNAMA
