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 originated from US$1.64 billion belonging to a 1Malaysia Development Berhad (1MDB) subsidiary, the High Court heard today.
Bank Negara
Thursday, 20 May 2021 06:45 PM MYT
BY IDA LIM
Former prime minister Datuk Seri Najib Razak is pictured at Kuala Lumpur High Court May 20, 2021. ― Picture by Hari Anggara
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KUALA LUMPUR, May 20 The over US$2.7 billion deposited in a 1Malaysia Development Berhad (1MDB) subsidiary’s bank account in March 2013 dwindled to just US$60,000 within months, with the funds flowing to various companies including those now known to be controlled by fugitive Low Taek Jho and his associates, the High Court heard today.
Mohd Hazem Abd Rahman, the chief executive of 1MDB from March 2013 to early January 2015, confirmed in court that he did not inform the 1MDB board of the status of the funds in the bank account, including when its balance fell to just around US$60,000.