Replying to an injunction application made by 1Malaysia Development Bhd, Najib dismissed an allegation that he had only partially disclosed his assets in regard to an asset-freezing order imposed on him by the High Court last year.
The amount of RM114 million, in cash and valuables, had been the subject of an unsuccessful forfeiture proceeding brought by the government and was reportedly returned to him.
The cash and valuables had been seized in a raid on his apartment days after the 2018 general election. “At all material times, the RM114 million was held by me on trust on behalf of Umno following the 14th general election that had just concluded days before the raid,” he said.
Najib said he was entrusted with the funds, as president of Umno at the time, for the purpose of the elections and that the money did not belong to him.
“Therefore any non-disclosure as alleged is vehemently denied,” he added in the affidavit in reply filed last week.
Najib said the money was initially returned to him after the court dismissed the public prosecutor’s forfeiture of property proceeding in 2021.
“Upon the dismissal of the public prosecutor’s application, no order was made as to where the RM114 million was to be returned. Accordingly, the authorities were simply required to return the money to where it was found ( my condominium),” he added.
In May, 1MDB chairman Johan Mahmood claimed Najib failed to disclose his assets about the injunction fully.
Johan, in an affidavit, alleged that Najib had only disclosed his assets from 2011 to 2020, and there was no information made on his purchases from 2021 until March 14, 2023.
He said Najib did not disclose assets held in his bank accounts nor anything outside the country.
In Najib’s affidavit, the former premier listed his assets as amounting to RM4.49 million.
On Feb 8 last year, the court had granted 1MDB and four subsidiaries an ex-parte Mareva injunction against Najib to freeze his assets in conjunction with the company’s claim of US$681 million against him, when he was prime minister and finance minister.
The injunction restricts him to withdrawals of up to RM100,000 a month from his bank accounts.
1MDB has named 14 other former directors and 1MDB former officials in the US$8 billion suit.
In its statement of claim filed in May 2021, it alleged that the defendants, including Najib as the former chairman of the board of advisers, had facilitated the companies to enter into sham agreements to create a circuitous trail of money to ease or conceal the misappropriation of 1MDB funds.
Najib’s application to set aside the Mareva injunction will be heard by the High Court on July 14.