Najib’s counsel Wan Azwan Aiman Wan Fakhruddin submitted that the conduct of 1MDB’s management and board of directors (BoD) showed their intention to proceed with the joint venture even before the phone call, Bernama reported.
“This is especially because the contemporaneous records also show that they were taking active steps to finalise and work towards the realisation of the partnership with PSI, with the appointment of corporate representatives and the opening of a joint bank account with PSI.
“The greater question is, if the BoD had been directed to participate in the joint venture by the then prime minister, how dare they impose prerequisites and stipulations before agreeing to enter the joint venture?” said Wan Azwan.
In earlier proceedings, it was revealed that fugitive businessman Low Taek Jho called Najib, asking him to speak to Bakke before a 1MDB board meeting on Sept 26, 2009, to convey the context of the supposed Malaysia–Saudi Arabia government-to-government initiative.
Wan Azwan contended that despite Bakke’s assertion that the joint venture would not have proceeded without the brief telephone conversation, the notice of the special board meeting dated Sept 25, 2009, showed otherwise.
He pointed out that the meeting had been specifically convened to approve the venture with PSI.
The defence is currently presenting submissions on the first charge against Najib under Section 23(1) of the Malaysian Anti-Corruption Commission Act 2009.
The charge alleges that during a special meeting at The Royale Bintang, Damansara, Najib directed the 1MDB board to approve a resolution for the company to enter a joint venture with PSI by subscribing to RM1 billion in ordinary shares at US$1 per share.
Najib is standing trial on 25 charges of abuse of power and money laundering over funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.
On May 6, Najib’s defence closed its case after calling 26 witnesses, and the court scheduled nine days beginning Oct 21 for oral submissions.
The hearing before Justice Collin Lawrence Sequerah continues tomorrow.