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Malaysian tycoon turned fugitive, Low Taek Jho, has asserted that funds originating from 1Malaysia Development Berhad (1MDB) subsidiaries, which ended up in the bank account of former Prime Minister Datuk Seri Najib Razak, were intended for Najib's coalition, Barisan Nasional. The High Court was informed of this during Najib's trial related to the misappropriation of RM2.27 billion from 1MDB. The 50th prosecution witness, former 1MDB general counsel Jasmine Loo, disclosed that she was unaware these funds had been redirected to various accounts, including Najib's. Two sums, US$576,943,490 and US$790,354,855, sent by 1MDB subsidiaries in 2012, were initially directed to Aabar Investment PJS Limited in the British Virgin Islands but later moved to different accounts, including Najib's.
Loo, testifying in court, stated that she questioned Low about the purpose of depositing significant sums into Najib's account after learning about the transactions through media reports and the US Department of Justice's 2015 and 2016 findings. Low, also known as Jho Low, allegedly explained that the funds were intended for Barisan Nasional's political funds, particularly for Umno, Najib's political party.
When pressed further, Low reassured Loo that he would handle everything and claimed to have evidence demonstrating Najib's knowledge and approval. However, an objection was raised by Najib's lead defense lawyer, Tan Sri Muhammad Shafee Abdullah, arguing that Loo's statements were hearsay. Loo also revealed that Tan Kim Loong, known as "Fat Eric," a friend and business partner of Jho Low, was linked to the transactions involving Najib's account.
Loo's testimony indicated her belief that orders from Low were aligned with Najib's wishes during her time at 1MDB. She recalled instances where documents were prepared for Najib's signature, and she witnessed Low and Najib together at 1MDB-related events. Loo also mentioned the existence of blank papers with the Prime Minister's Office's letterhead, which Low allegedly kept for potential use.
The court learned that Loo had handed over 1MDB documents for Najib's approval to Low outside Najib's residence. These documents, prepared during 2012 and 2013, were submitted to Low, who would ensure Najib's signature. Loo asserted that she received signed documents from Low after each handover, and if not directly, messages through BlackBerry Messenger (BBM) would confirm submission to the 1MDB office.
The trial continues with Loo expected to provide further testimony, shedding light on the intricate financial transactions and relationships surrounding the 1MDB scandal.
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