KUALA LUMPUR: Datuk Seri Najib Razak’s alleged actions of transferring RM150mil and RM12mil from his personal account to another personal account in AmIslamic bank have been classified as an offence under the Anti-Money Laundering Act (AMLA), the High Court was told on Tuesday (Nov 7).
According to Assistant Director of the Anti-Money Laundering Criminal Investigation Division, ACP Foo Wei Min, moving money from one account to another is considered layering, which is one of the stages in the money laundering process. He further stated that the action is also seen as layering because it is an attempt to mislead authorities and complicate the tracking of the original source of the money.
The prosecution’s 48th witness, ACP Foo Wei Min, was referring to the alleged transfers made by Najib on Aug 27 and 30, 2013, from his AmIslamic 694 account to the 880 account in the former prime minister’s trial involving the misappropriation of RM2.3bil from 1Malaysia Development Bhd (1MDB).
However, Najib’s counsel, Tan Sri Muhammad Shafee Abdullah, argued that the act of layering must involve an element of concealing, which Najib did not do as Bank Negara Malaysia (BNM) was aware of the transaction at the time. The lawyer also suggested that an unfairness may have occurred as Najib was not given the opportunity to explain himself during the investigation. He questioned why Najib would transfer the funds from one account to another if his intention was to conceal.
Meanwhile, Muhammad Shafee questioned ACP Foo about a document detailing the funds in Najib’s account and asked if he agreed that Najib had spent a significant amount of money on political and welfare purposes, including contributions to UMNO and corporate social responsibilities (CSR). ACP Foo concurred with Muhammad Shafee on this matter. The witness also agreed with the lawyer’s assertion that none of the funds were used for Najib’s personal purposes, such as purchasing a yacht.
At 70 years old, Najib faces four charges of using his position to obtain bribes totaling RM2.3 billion from 1MDB, as well as 21 charges of money laundering involving the same amount. The trial, presided over by Justice Datuk Collin Lawrence Sequerah, will continue on Wednesday (Nov 7). – Bernama
