KUALA LUMPUR: A financial fraud investigator told the High Court here that his investigation revealed that 1Malaysia Development Berhad (1MDB) had paid only US$2.2bil to Aabar Investments PJS Ltd, contrary to 1MDB's claim of US$3.5bil.
However, United Kingdom-based investigator Richard Templeman admitted that he did not raise the issue on the US$1bil discrepancy to the plaintiff (1MDB) before the start of the trial nor mentioned it in his witness statement.
Templeman said this while testifying as the plaintiff's first witness in the US$6.59bil civil lawsuit filed by 1MDB against its former president and chief executive officer Arul Kanda Kandasamy and former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah.
It was revealed during Datuk Seri Najib Razak's criminal trial for misappropriating 1MDB funds that Aabar Investments PJS Ltd was a fake entity set up by fugitive businessman Low Taek Jho or Jho Low in Seychelles.
When pressed by Mohd Irwan's counsel Lavinia Kumaraendran on the failure on his part to inform the plaintiff, Templeman stated that he gave his evidence independently and disagreed with Lavinia's suggestion that he had failed in his duty to inform the court about the discrepancy.
Lavinia: Your investigation arrived at US$2.2bil and not US$3.5bil as stated in the 1MDB's suit?
Templeman: I can confirm it's US$2.2bil.
Lavinia: You were given the statement of claim. In perusing the statement of claim, you knew that the sums claimed were incorrect, didn't you tell the lawyers of 1MDB?
Templeman: I did not.
In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arul Kanda over an alleged breach of trust and conspiracy that resulted in US$1.83bil in losses related to the company's investment in 1MDB-Petrosaudi Ltd, which was later converted into the Brazen Sky Limited investment, said to be recoverable from the Bridge Global Fund.
1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating US$3.5bil in company funds paid to Aabar Investments and US$1.265bil paid to International Petroleum Investment Company on May 9, 2017.
1MDB is seeking US$6.59bil in damages from both defendants for these violations and an additional RM2.9mil from Mohd Irwan related to the extension of employment agreement.
The trial before Judicial Commissioner Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan continues on Sept 17. – Bernama
