KUALA LUMPUR: The High Court ruled that former Prime Minister Datuk Seri Najib Razak was “wilfully blind” about the origins of the 1Malaysia Development Bhd (1MDB) funds.
Significant Sums Involved
Justice Collin Lawrence Sequerah, now a Court of Appeal judge, emphasized the large sums involved. Specifically, he referenced US$681 million deposited and US$620 million returned to Najib’s account. He stated that it was Najib’s duty to investigate whether these funds were obtained illegally.
Judge’s Remarks on Conduct
The judge explained, “The accused’s conduct, including receiving, using, and transferring the proceeds, allows for a reasonable inference of knowledge regarding all 21 money laundering charges.” This statement appeared in his 41-page summary judgment.
Charges Against Najib
Earlier, Justice Sequerah directed Najib, 71, to present his defense against four charges. These charges relate to securing RM2.3 billion in gratification from 1MDB funds. The judge found that the prosecution had established a prima facie case on all 25 charges.
Evidence of Misconduct
The judge noted evidence that the US$681 million came from Tanore Finance Corporation’s account at Falcon Private Bank in Singapore. This money was transferred to Najib’s account.
“There is evidence that the accused used funds derived from illegal activities to make payments to various individuals and entities, including Umno,” the judge remarked.
Control of Accounts
Furthermore, the judge pointed out that Najib controlled the accounts at AmIslamic Bank. He had designated Nik Faisal Ariff Kamil as a mandate holder. Najib claimed he knew about the transactions and their intended purposes.
Testimonies Presented
Former Bank Negara Governor Tan Sri Zeti Akhtar Aziz testified that Najib asked her to declare he had done no wrong. Additionally, former Ambank relationship manager Joanna Yu Ging Ping provided testimony about Jho Low’s role in ensuring Najib’s account had sufficient funds.
Importance of Tracing Funds
The judge emphasized that tracing the US$680 million deposited into Najib’s account was crucial. Anti-Money Laundering Division’s ACP Foo Wei Min explained this process. He highlighted its importance in distinguishing between legitimate and illicit funds.
