The ongoing trial involving former Malaysian Prime Minister Najib Razak and the alleged misappropriation of RM2.3 billion of 1MDB funds has taken an interesting turn with the testimony of the 47th prosecution witness. The witness, an analyst from Bank Negara Malaysia (BNM), provided crucial information regarding a money trail report that sheds light on the flow of funds into Najib’s personal accounts.
According to the witness, a shell company named Blackstone Asia Real Estate Partners, allegedly set up by fugitive businessman Jho Low, transferred a total of US$30 million into Najib’s account. The transactions took place in October and November of 2012, with US$5 million being paid initially followed by a larger sum of US$25 million. The witness confirmed that the beneficiary account for these transfers was linked to Najib’s personal account, providing concrete evidence of the money trail.
Further examination of bank records revealed that the account receiving the funds was labeled as ‚AmPrivate Banking – MR‘ with AmIslamic. The witness’s testimony matched the transfers to the account number ‚2112022009694‘ held under Najib’s name, solidifying the connection between the shell company and the former Prime Minister.
It was also revealed that Jho Low intentionally created shell companies with names resembling well-established firms to facilitate the siphoning of millions of dollars from 1MDB. This elaborate scheme aimed to disguise the illicit flow of funds and evade detection.
In addition to the US$30 million transferred from Blackstone Asia Real Estate Partners, the witness confirmed that Najib received RM60.6 million from Islamic medium-term notes (IMTN) bonds issued by 1MDB’s predecessor, Terengganu Investment Authority (TIA). This further implicates Najib in the alleged misappropriation of funds from the state investment fund.
The prosecution’s case against Najib includes multiple phases of fund transfers totaling billions of dollars, with the former Prime Minister facing charges of bribery and money laundering. The trial has attracted significant attention, with Najib appearing in court alongside his supporters as the legal proceedings unfold.
As the trial continues before Judge Datuk Collin Lawrence Sequerah, the testimony of the 47th prosecution witness has provided crucial insights into the intricate web of financial transactions that form the basis of the case against Najib. The detailed money trail report presented in court serves as compelling evidence of the alleged misappropriation of 1MDB funds, highlighting the complexity and scale of the financial scandal that has rocked Malaysia.