KUALA LUMPUR, Sept 19 — Former prime minister Datuk Seri Najib Razak had in 2012 ultimately received a total of US$30 million (RM140.8 million) in funds which had...
KUALA LUMPUR, Sept 19 — Former prime minister Datuk Seri Najib Razak had in 2012 ultimately received a total of US$30 million in funds which had originated from US$1.64 billion belonging to a 1Malaysia Development Berhad subsidiary, the High Court heard today.
Adam Ariff referred to multiple banking documents for the entire money trail, showing that the funds that entered Najib’s AmIslamic account travelled through the accounts could all be traced back to the 1MDB subsidiary’s US$1.64 billion. In confirming that the US$790 million in Aabar-BVI could be fully traced back to the US$1.64 billion from 1MELL, Adam Ariff said the bank statements show that 1MELL had zero funds before it received the US$1.64 billion from the bond and that 1MELL did not receive money from any other sources before it sent out the US$790 million to Aabar-BVI.
He then went on to show how the chain of transactions continued uninterrupted, with Aabar-BVI then purportedly investing US$291,243,827 or over US$291 million into the Cistenique Investment Fund on October 23, 2012 . Based on banking documents, Blackstone’s beneficiary owner is Tan Kim Loong --- widely known as Low’s associate.
Based on bank documents, Adam Ariff said over RM15 million and over RM75 million were sent to Najib’s account, which comes out to a total of over RM90 million .On the first day of trial, the prosecution had said it would show that 1MDB funds had been transferred in multiple transactions to Najib’s accounts in four phases.
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