KUALA LUMPUR: Jasmine Loo, a key witness in the RM2.28bil 1Malaysia Development Berhad (1MDB) case involving Datuk Seri Najib Razak, reiterated that she did not make any deals with the prosecution to testify against the former prime minister.
She also denied a suggestion by Najib’s lawyer, Tania Scivetti, that her testimony was given in exchange for the prosecution dropping her court cases. Loo, who served as 1MDB’s general counsel, was fugitive until recently and was charged in absentia under Section 179 of the Capital Markets and Services Act 2007 for involvement in misappropriation of US$2.7bil from 1MDB bonds underwritten by Goldman Sachs in 2018.
When the charges were initially brought against her, the Securities Commission Malaysia did not request her response. Loo stated, “My statement has not been recorded. However, since I returned to Malaysia, I have responded to the various authorities regarding the charges, which includes the SC.”
During the trial, Scivetti asked Loo whether the charges against her had been withdrawn officially. Loo responded, “No, I am not saying that.”
Additionally, Loo faced accusations of laundering US$5.99 million, proceeds from unlawful activities, into the account of River Dee International SA (BVI) in Falcon Private Bank AG in Zurich. This offense under the Anti-Money Laundering Act 2001 carries potential penalties of a fine up to RM5 million or imprisonment up to five years, or both.
Najib, who is currently 70 years old, is facing a total of 25 charges – four related to abuse of power resulting in a financial benefit of RM2.28bil and 21 for money laundering involving the same amount. The trial continues before Justice Collin Lawrence Sequerah on Friday (April 5).
