Witness verifies more transfers of 1MDB monies from Jho Low-linked firms to Najib's accounts

TheEdge Mon, Jun 20, 2022 07:55pm - 1 year View Original


KUALA LUMPUR (June 20): A manager at AmBank’s SWIFT unit continued to verify during the 1MDB-Tanore trial on Monday, several transactions involving the transfer of millions of US dollars worth of 1Malaysia Development Bhd monies from companies linked to Jho Low to the private accounts of Datuk Seri Najib Razak with the bank, between March 2013 and December 2014.

Wedani Senen testified that Najib — via his account ending with the numbers “9694” — received US$61 million from Tanore Finance Corp, which was controlled by Eric Tan Kim Loong, an associate of Jho Low, on March 25, 2013.

He also received a total of £9.45 million in another account ending with the numbers “880” from Vista Equity International Partners (Seychelles) and Blackrock Commodities Global Ltd — between June and December 2014.

It was previously reported that the US Department of Justice had identified that Blackrock Commodities and Vista Equity were controlled by Jho Low using Tan's identity. It should be noted that Blackrock Commodities is not related to the US fund management firm Blackrock Inc.

Wedani was continuing her witness statement from last week at the trial before Justice Datuk Collin Lawrence Sequerah, where Najib is the only accused. Last week, she said she would verify 12 transactions involving monies going into Najib’s AmBank accounts.

According to Wedani's testimony, a total of US$731 million — including the latest US$61 million — went into Najib's “9694” account between 2012 and 2013, and that US$681 million was 1MDB's money transferred by Tanore. The rest was from Prince Faisal Turki Bin Bandar Al Saud and Blackstone Asia Real Estate Partners Ltd.

Wedani also testified that US$620 million was transferred back to Tanore's account at Falcon Private Bank in Singapore from Najib's “9694” account on Aug 26, 2013.

In the 1MDB-Tanore trial, Najib is charged with four counts of abuse of power in enriching himself with RM2.3 billion of 1MDB funds, and 21 counts of laundering the same amount. If convicted, he could be jailed up to 20 years and fined.

The Edge is covering the trial live here.

Users of The Edge Markets app may tap here to access the live report.

Read also:
Witness: US$670m entered Najib’s AmPrivate account from Prince Faisal, Blackstone and Tanore

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