A key witness in the trial of Datuk Seri Najib Razak concerning the alleged misappropriation of RM2.27 billion from 1Malaysia Development Berhad (1MDB) funds refuted claims that her testimony stemmed from a deal to avoid prosecution. Jasmine Loo Ai Swan, former general counsel of 1MDB, asserted this stance during rigorous questioning in the High Court by Najib’s defense attorney, Tan Sri Muhammad Shafee Abdullah.
Under scrutiny, Loo denied any arrangement with prosecutors or the Malaysian Anti-Corruption Commission (MACC) to drop criminal charges filed against her in 2018 in exchange for her testimony. Despite Muhammad Shafee's persistence in suggesting negotiations, Loo remained steadfast in her denial.
She disclosed that upon her return to Malaysia in July 2023, she instructed her lawyers to address the pending criminal case against her, which she became aware of after fleeing Malaysia in April 2018. Loo's recollection of the specific charges was somewhat hazy, but she acknowledged being informed about them.
The charges against Loo, as detailed by then Inspector-General of Police Tan Sri Mohamad Fuzi Harun, implicated her in receiving US$6 million in a Falcon Private Bank account in Switzerland in 2012 and 2014. Alongside her, individuals such as fugitive Malaysian financier Low Taek Jho, former 1MDB executives Casey Tang and Terrence Geh, and one Eric Tan were also charged.
Loo clarified that the funds in the Falcon Private Bank account, totaling US$9 million, were subject to a 2020 forfeiture suit filed by the United States Department of Justice (DOJ) as part of efforts to recover assets linked to the alleged international conspiracy involving 1MDB funds.
As the authorized signatory of the account, Loo asserted that Low had deposited funds into it, claiming they were not from 1MDB. She highlighted a consent judgment obtained from the United States District Court for the Central District of California in June 2021 as evidence of her compliance with legal proceedings.
Maintaining her stance, Loo emphasized that she had believed Low to be independently wealthy and managing funds for various entities, including his own investment ventures, rather than diverting money from 1MDB.
The trial, presided over by Judge Datuk Collin Lawrence Sequerah, is set to reconvene on April 1st, continuing its examination of Najib's involvement in the 1MDB scandal.
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