RM2.28bil entered Najib’s account via multiple countries, court told

RM2.28bil entered Najib’s account via multiple countries, court told

Bank Negara Malaysia analyst Adam Ariff Roslan says the sum originated from debt securities, loans and IPP purchase funds.

Najib Razak is on trial for abuse of power and money laundering involving 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between 2011 and 2014. (Bernama pic)
KUALA LUMPUR:
A Bank Negara Malaysia analyst told the High Court in Najib Razak’s 1MDB trial that company funds worth RM2.28 billion passed through multiple countries before ending up in the former prime minister’s account.

Adam Ariff Roslan said that based on his analysis, the funds in question were transferred through the banking systems of multiple foreign jurisdictions between September 2009 and December 2014.

He said between Feb 23 and June 14, 2011, a sum of RM60.6 million was credited into Najib’s account. Adam said the sum was raised by 1MDB through its Islamic medium-term notes (IMTN).

Meanwhile, Adam said that between Oct 30 and Nov 20, 2012, another RM90.9 million was deposited into Najib’s account.

This money came from bonds raised to purchase shares in two independent power plant (IPPs) producers, Tanjong Energy Holdings Sdn Bhd and Mastika Lagenda Sdn Bhd.

The analyst also told the court that between March 21 and April 10, 2013, a sum of RM2.08 billion was credited to Najib’s account.

The RM2.08 billion was part of the US$2.72 billion that 1MDB received from raising bonds to develop the Tun Razak Exchange (TRX) project.

Adam also said that from June 23 to Dec 19, 2014, a further sum of RM45.8 million was deposited into Najib’s account, traceable to two 1MDB loans of US$1.225 billion.

Najib is standing trial on 25 charges of abuse of power and money laundering over alleged 1MDB funds amounting to RM2.28 billion, deposited into his AmBank accounts between February 2011 and December 2014.

The hearing before Justice Collin Lawrence Sequerah continues tomorrow.

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