KUALA LUMPUR: A portion of a US$3bil (RM12.39bil) bond raised by 1Malaysia Development Bhd (1MDB) was used to buy land in Ayer Itam, Penang, as well as in Umno’s political campaign during the 13th General Election in 2013, the High Court heard.
Former 1MDB CEO Mohd Hazem Abdul Rahman, 48, said this was admitted by former prime minister Datuk Seri Najib Razak in a ceramah (campaign speech) where he said the land would be developed by 1MDB as an affordable housing project.
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