An analyst from Bank Negara Malaysia (BNM) informed the High Court in Kuala Lumpur that Datuk Seri Najib Tun Razak received RM2.3 billion of 1Malaysia Development Berhad (1MDB) proceeds over a period of four years. The funds were transferred to his personal accounts at AmIslamic Bank Berhad, with the transactions occurring in four phases between 2011 and 2014.
Adam Ariff Mohd Roslan, age 34, stated that through his analysis, the money trail of the said funds could be traced and separated into four phases: Good Star, Aabar-BVI, Tanore, and options buyback. During the Good Star phase, the proceeds were traced back to the issuance of 1MDB’s Islamic Medium Term Notes (IMTN) bond in 2009 and its syndicated term loan in 2010. This phase took place between February 23, 2011, and June 14, 2011.
For the Aabar-BVI phase, which occurred between October 30, 2012, and November 20, 2012, the funds were found to be traceable to a bond issued by 1MDB Energy (Langat) Ltd in 2012. The proceeds were credited into Najib’s 694 account from an account at Standard Chartered Bank, Singapore, held in the name of Blackstone Asia Real Estate Partners.
Adam Ariff, who was seconded to the MACC’s 1MDB task force in 2018, revealed that during the Tanore phase between March 21, 2013, and April 10, 2013, the funds were traceable to a bond issued by 1MDB Global Investment Ltd in 2013. These proceeds were credited into Najib’s 694 account from an account at Falcon Private Bank, Singapore, held in the name of Tanore Finance Corp.
Furthermore, for the options buyback phase on June 23, 2014, the proceeds were found to be traceable to the US$250 million loan proceeds of 1MDB Energy Holdings Ltd in 2014. The funds, totaling RM4,093,500.00, were credited into Najib’s 880 AmPrivate Banking – 1MY account at AmIslamic Bank from an account at DBS Bank, Singapore, held in the name of Blackrock Commodities (Global) Ltd.
Another phase, the options buyback phase between October 23, 2014, and December 19, 2014, resulted in RM45,837,485.70 of proceeds being credited into Najib’s 880 account from an account at Amicorp Bank, Barbados, held in the name of Vista Equity International Partners Limited. These proceeds were partially traceable to the US$975 million loan proceeds of 1MDB Energy Holdings Ltd in 2014.
Najib, aged 70, is facing four charges of obtaining bribes amounting to RM2.3 billion belonging to 1MDB and twenty-one charges of money laundering involving the same amount. The trial is ongoing before Judge Datuk Collin Lawrence Sequerah.
Credit: The Star : News Feed
