Former 1MDB CEO Shahrol Azral Ibrahim Halmi said the sum, which was then equivalent to RM1 billion, was supposedly sent to joint venture company 1MDB-PetroSaudi Ltd as part of the Murabaha loan.
The ninth prosecution witness said the money was sent in four tranches from Ambank and Deutsche Bank here between May 20 and Oct 25, 2011.
US$30 million was sent on May 20, US$65 million on May 23,US$110 on May 27 and US$125 million on Oct 25 that year.
The witness said the final tranch of US$125 million was remitted after Low, better known as Jho Low, informed him that Prince Turki had complained to King Abdullah (his father) that the money was not forthcoming.
“On hindsight, it is possible that Jho Low was hurrying me to pay the money (the final tranch of US125 million) by using the Arab royal family’s name,” he said when cross-examined by lawyer Muhammad Shafee Abdullah.
Shahrol, who has been on the witness stand since Sept 23, said US$330 million was sent after PetroSaudi International Ltd (PSI) gave the account number, which actually belonged to Good Star.
The witness, who was earlier examined by the prosecution, said he only knew the money went to Good Star when the Malaysian Anti-Corruption Commission investigators showed him the money trail.
The prosecution also contends that Jho Low was working hand in glove with PSI CEO Tarek Obaid to siphon off 1MDB’s money.
In 2009, 1MDB paid US$1 billion for a 40% stake in the joint venture while PetroSaudi held the remaining 60%. It was later revealed that PetroSaudi’s share was worth only US$108 million.
In March 2010, the US$1 billion equity in the joint venture was converted into Islamic Murabaha notes, with 1MDB injecting a further US$500 million.
In mid-2011, 1MDB channelled another US$330 million, bringing its total contribution to US$1.83 billion.
Under the Murabaha financing scheme, 1MDB was to pay interest of 8.25% for 11 years. However, it was revealed that such payments were only made for a year.
The prosecution’s opening statement said the US$500 million could not be accounted for while Shahrol, under examination, also revealed that US$700 million from the US$1 billion was also diverted to Good Star.
Only US$300 million went to PSI.
Earlier in the proceedings, ad-hoc prosecutor Gopal Sri Ram said he was unsure where Shafee’s cross-examination was headed for.
“I don’t want to interrupt the defence lawyer but we will not arrive anywhere if there is no destination,” he said.
Sri Ram said the defence was referring Shahrol to documents that the witness had nothing to do with and never seen.
Trial judge Collin Lawrence Sequerah also remarked that Shafee need not read all the documents to the witness.
Najib is facing 25 charges of money laundering and abuse of power over alleged 1MDB funds in his AmBank accounts.
He is accused of abusing his position to obtain RM2.28 billion in bribes in February 2011 and December 2014.
He is also said to have transferred RM2.28 billion in illegal funds to his bank accounts and to have subsequently used the money.
Hearing before Sequerah has been adjourned to Monday.