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1MDB wanted fast US$1b transfer for sham PetroSaudi JVCo to enable Najib to announce deal, says banker

A former managing director at Deutsche Bank (M) Bhd told the High Court on Tuesday (June 21) that 1Malaysia Development Bhd (1MDB) in 2009 wanted the bank to accelerate a US$1 billion remittance for a 40% stake in a joint venture company (JVCo) known as 1MDB PetroSaudi Ltd because then prime minister Datuk Seri Najib Tun Razak wanted to make a press statement on the JV.

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