Ismee unfairly implicated me in 1MDB’s joint venture woes, says Najib

Ismee unfairly implicated me in 1MDB’s joint venture woes, says Najib

The former prime minister also challenged the veracity of certain documents, claiming the signatures attributed to him looked ‘weird’.

najib razak n Ismee Ismail
Former prime minister Najib Razak (left) expressed disappointment with the testimony given by former 1MDB director Ismee Ismail.
KUALA LUMPUR:
Najib Razak told the High Court here that a former 1MDB director had unfairly implicated him in a decision to dispose of the company’s stake in a failed joint venture.

Testifying at his 1MDB trial, the former prime minister expressed disappointment with the testimony given by prosecution witness Ismee Ismail.

“I never expected such a distortion of truth from someone like him whom I have always regarded as a man of integrity who upholds Islamic principles.

“It is not what I would expect from someone I held in such high regard,” said Najib.

The court previously heard that 1MDB had in 2009 stumped out US$1 billion for a 40% stake in the joint venture, with PetroSaudi International (PSI) holding the remaining 60% interest.

The funds were later converted into Islamic murabaha notes.

1MDB paid another US$830 million between 2010 and 2011 for the same purpose and by 2012, the notes were said to be worth US$2.22 billion.

The prosecution contends that by the following year, 1MDB’s stake in the joint venture had become worthless.

Najib also disputed some of the documents tendered at trial, saying the signature attributed to him on a shareholder’s resolution and the minutes of a meeting held on March 22, 2010, looked weird and suspicious. He claimed he did not sign either document.

He also claimed officers from the Malaysian Anti-Corruption Commission did not show him the documents during investigations, adding that he would have questioned their veracity had they done so.

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

The hearing continues before Justice Collin Lawrence Sequerah tomorrow.

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