1MDB trial: Witness says RM2.23bil went into Najib's personal account


KUALA LUMPUR: The High Court here was told that a sum of RM2.23bil flowed into the personal account of former prime minister Datuk Seri Najib Razak from a prince and two entities linked to fugitive financier Low Taek Jho between 2011 and 2013.

AmBank private banking capital market desk head Yap Wai Keat, 57, testified on Wednesday (Sept 28) that the monies came from Blackstone Asia Real Estate Partners, Tanore Finance Corp and Prince Faisal Bin Turkey Bandar Al Saud, and landed in Najib's account ending in 694.

Yap, reading his witness statement during examination-in-chief conducted by DPP Mohamad Mustaffa P. Kunyalam, said Prince Faisal wired a total of RM60,629,839.43 in two transactions in February and June 2011.

ALSO READ: Najib received RM2.08bil through nine transactions in his bank account in 2013, court told

Meanwhile, Blackstone Asia Real Estate Partners deposited RM90,899,927.28 via two transactions in 2012 in Najib's account.

Tanore Finance Corp deposited RM2,081,476,926 via nine transactions in 2013.

Yap said his involvement with Najib's 694 account was per the instruction of Najib's AmBank relationship manager Joanna Yu to assist in matters pertaining to foreign exchange under the bank's market division for that account.

ALSO READ: 1MDB trial: Najib issued 46 cheques worth RM10.3mil to Umno divisions among others, court told

"I'm involved in the quotations of foreign exchange rate for inward or outward remittances. The rate quoted is based on the current market rate," he added.

Information on the incoming monies was relayed by the the bank's remittance division to Yap and Yu, to enable her to inform Najib that there was incoming money.

"Yu instructed me to execute the conversion of money from US dollars to Malaysian ringgit after she had obtained approval from the client (Najib).

"Subsequent to that, my department did the necessary by entering relevant data into a system called MUREX where conversion was done in accordance with the agreed rate as per contract.

ALSO READ: Najib's 1MDB trial: Witness tells court she did not prepare own statement

"Then, my department contacted the remittance division and informed them of the contract number and the exchange rate.

"With regard to this particular transaction, my department acted upon instructions as directed to me by Yu after she had received instructions from the client," he said.

Najib, 69, is facing four charges of using his position to obtain bribes totalling RM2.28bil from 1MDB funds and 21 charges of money laundering involving the same amount.

The hearing continues before Justice Collin Lawrence Sequerah on Thursday (Sept 29).

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