In Kuala Lumpur’s High Court, it was revealed that Datuk Seri Najib Razak’s approval was a prerequisite for any decision-making at 1Malaysia Development Bhd (1MDB) due to his multiple roles in the government and the company. The former general counsel of 1MDB, Jasmine Loo, testified that this practice existed even before her tenure, where all matters had to be brought to Najib before any projects could proceed.
At that time, Najib held the positions of prime minister, finance minister, and chairman of the board of advisors at 1MDB. Loo stated in court that this approval process was common practice, indicating that Najib was essentially the key decision-maker for the company.
Najib’s lead counsel, Tan Sri Muhammad Shafee Abdullah, argued that there should have been a distinction made between Najib’s roles and that decisions should have gone through the board of directors. However, Loo disagreed, asserting that Najib’s approval in one role was equivalent to approval in all three.
Counter to Muhammad Shafee’s claims of her involvement in a conspiracy to deceive 1MDB, Loo maintained that the practice of seeking Najib’s approval was well-established by the time she joined the company. She also noted that professional company secretarial advisors were consulted, supporting the process.
During the trial, Loo refuted allegations made by former Goldman Sachs banker Tim Leissner in a separate trial in New York, where he implicated her as a crucial link between fugitive businessman Low Taek Jho and 1MDB. Loo denied any knowledge of Leissner’s statements and dismissed claims that she was appointed to legalize illegal activities.
Najib is facing a total of 25 charges, including abuse of power and money laundering, amounting to RM2.28 billion. The trial, presided over by Justice Collin Lawrence Sequerah, is ongoing as the prosecution continues to present its case.
