Najib’s Court Ruling Highlights Knowledge of 1MDB Funds
The High Court ruled that former Prime Minister Datuk Seri Najib Razak was “wilfully blind” to the origins of 1Malaysia
KUALA LUMPUR: The High Court ruled that former Prime Minister Datuk Seri Najib Razak was “wilfully blind” to the origins of 1Malaysia Development Bhd (1MDB) funds.
Judge’s Statements on Financial Responsibility
Justice Collin Lawrence Sequerah, now a Court of Appeal judge, emphasized that Najib needed to investigate substantial deposits. Specifically, he mentioned US$681 million deposited and US$620 million returned to Najib’s account. Therefore, it was crucial for Najib to verify whether these funds were linked to illegal activities.
Implications of Najib’s Actions
“The actions of receiving, using, and transferring the proceeds allow for a reasonable inference of the accused’s knowledge regarding all 21 money laundering charges,” the judge stated in his detailed 41-page judgment.
Charges Against Najib
Earlier, Justice Sequerah ordered Najib, 71, to present his defense against four charges. These charges involve obtaining RM2.3 billion in gratification from 1MDB funds and 21 charges of money laundering related to the same funds. Consequently, the judge established a prima facie case for all counts.
Evidence Linking Najib to Illegal Activities
The judge revealed that the US$681 million came from Tanore Finance Corporation’s account at Falcon Private Bank in Singapore and transferred to Najib’s account. “Evidence shows that these funds derived from illegal activities and were used by the accused to pay individuals and entities, including Umno,” he explained.
Control Over Accounts
Additionally, Justice Sequerah pointed out that Najib controlled accounts at AmIslamic Bank. Although he appointed Nik Faisal Ariff Kamil as a mandate holder, Najib claimed he was aware of the transactions and their intended purposes.
Testimonies Presented
Furthermore, former Bank Negara governor Tan Sri Zeti Akhtar Aziz testified that Najib sought her assurance of his innocence. Moreover, former Ambank relationship manager Joanna Yu discussed Jho Low’s involvement with Najib’s account.
Tracing the Funds
Finally, Justice Sequerah highlighted that ACP Foo Wei Min explained how to trace the US$680 million deposited into Najib’s account. “This method is crucial for differentiating between legitimate and illegal funds,” he concluded, asserting that the properties involved resulted from unlawful activities.
