Bank employees under pressure to expedite 1MDBGIL transactions, court told
The Kuala Lumpur High Court is told that the pressure put on BSI Bank employees to expedite money flow into the accounts of targeted companies came from fugitive businessman Jho Low. – AFP pic, April 18, 2023.
Former BSI Bank head of wealth management services, Kevin Micheal Swampillai, 59, said the money in 1MDBGIL and other 1MDB-related client accounts did not remain in their accounts for too long as there was always great haste demonstrated by the companies to invest the money in fiduciary funds as quickly as possible.
He said that he was not surprised to learn that a significant number of fiduciary fund transactions occurred within one day of 1MDBGIL receiving about US$2.721 billion in its account at BSI Bank. Kevin said this during cross-examination by Najib Razak’s counsel, Muhammad Shafee Abdullah at the former prime minister’s trial involving the misappropriation of RM2.3 billion from 1MDB funds.
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