KUALA LUMPUR, April 18 None of the up to 40 people including bankers and lawyers who viewed agreements 1Malaysia Development Berhad (1MDB) signed with an “Aabar” noticed the latter was actually a fake firm, the High Court heard today. Former 1MDB chief financial officer Azmi Tahir said this.
KUALA LUMPUR: A former chief financial officer (CFO) of 1Malaysia Development Bhd (1MDB) did not investigate the authenticity of two fake entities that received huge funds from a subsidiary in 2014 as he was not instructed to do so by the board, the High Court heard.
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.
Monday, 17 May 2021 05:12 PM MYT
BY IDA LIM
Former 1MDB CEO Mohd Hazem Abd Rahman is pictured at the Kuala Lumpur High Court January 6, 2021. Picture by Yusof Mat Isa
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KUALA LUMPUR, May 17 Datuk Seri Najib Razak as the prime minister then was involved in Low Taek Jho’s “nefarious agenda” for 1Malaysia Development Berhad (1MDB) when the government-owned firm’s subsidiary raised US$3 billion of funds in 2013, a former 1MDB CEO claimed in court today.
Mohd Hazem Abd Rahman, a former CEO of 1MDB from March 2013 to early January 2015, said this while being cross-examined as the 10th prosecution witness in Najib’s ongoing trial over power abuse and money laundering charges involving more than RM2 billion of 1MDB funds.
KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak will be present to show his support for his wife Datin Seri Rosmah Mansor during the verdict in her corruption case involving a solar hybrid project in Sarawak.
His lead counsel, Tan Sri Muhammad Shafee Abdullah, told Justice Collin Lawrence Sequerah that the Pekan MP wished to be present at Rosmah’s court case this morning before attending his own 1Malaysia Development Bhd (1MBD) trial.
“I’m making an application because my client wants to support his wife, ” Shafee said yesterday.
Outside the courtroom, Shafee said three deputy public prosecutors from the 1MDB trial had also requested the judge to allow them some time to attend Rosmah’s proceedings.