USD700 Million Transferred to Jho Low’s Firm Without 1MDB’s Consent
A former investigator in the 1MDB scandal, R Rajagopal, has revealed that a staggering USD700 million was funneled into Good Star Limited, a company linked to fugitive businessman Low Taek Jho (Jho Low), without the approval of 1MDB’s Board of Directors.
Rajagopal, previously the head of Bukit Aman’s Commercial Crime Investigation Department, uncovered this unauthorized transaction during his probe into the multi-billion-dollar scandal that has rocked Malaysia for years.
"My investigation found that the transfer was not sanctioned by the Board of Directors of 1MDB," Rajagopal stated while testifying as the 11th defence witness in former Prime Minister Najib Razak’s ongoing corruption trial.
The revelation came during cross-examination by lawyer Wan Azwan Aiman Wan Fakhruddin, who is representing Najib in the trial concerning the alleged embezzlement of RM2.3 billion from 1MDB funds.
Earlier court proceedings disclosed that Casey Tang Keng Chee, 1MDB’s former Executive Director of Business Development—who remains at large—had facilitated the misappropriation of USD1 billion. These funds were originally designated for a joint venture between 1MDB and PetroSaudi International (PSI). However, only USD300 million was deposited into the intended joint venture account, while the remaining USD700 million was diverted to Good Star Limited.
On October 30 last year, High Court Judge Collin Lawrence Sequerah ruled that the prosecution had established a prima facie case against Najib and ordered him to present his defence.
The 71-year-old former prime minister is currently facing 25 charges—four related to abuse of power for allegedly receiving bribes amounting to RM2.3 billion from 1MDB, and 21 counts of money laundering involving the same sum.
The ongoing trial continues to shed light on the intricate web of financial misconduct that saw billions siphoned from the state investment fund, with Jho Low remaining a central figure in the scandal.
Information Source: FMT
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