KUALA LUMPUR: Fugitive businessman Low Taek Jho or Jho Low did not like cheques issued in the name of Datuk Seri Najib Razak to bounce due to insufficient funds, the High Court heard.
Former AmBank relationship manager Joanna Yu, 55, who was subpoenaed by Najib to testify yesterday, said this was based on her interaction with Low, who had specifically mentioned that he did not like bounced or returned cheques if Najib’s account was overdrawn.
“I don’t think he was concerned about what cheques were being issued, he was concerned about the cheques not being honoured by the bank as a result of insufficient funds,” Yu said.
The witness said there were instances where Low’s associates would bring cash to the bank to be deposited into the account when it was overdrawn.
Yu was being questioned by Najib’s lawyer Muhammad Farhan Muhammad Shafee in the RM42mil civil suit filed by SRC International Sdn Bhd and its subsidiary, Gandingan Mentari Sdn Bhd, against Najib over alleged breach of fiduciary duty.
Najib testified last month as the sole defendant in the suit.
Muhammad Farhan referred the witness to several text messages between her and Low, in which Low wrote: “Please clear cheques, don’t bounce it.”
The witness agreed to the suggestion.
Yu said there were instances where Low made several enquiries to make sure that no cheques bounced.
When asked by Muhammad Farhan whether it was “normal behaviour” for any account holder to issue cheques knowing that the account was empty, Yu replied that these were not “regular accounts”.
“These accounts belonged to the Prime Minister, these are not regular accounts,” she said.
Muhammad Farhan then “corrected” the witness and said his question was specifically on the “behaviour” of an account holder and not the status of the account itself.
“I don’t think anyone would want to do that, unless they assume there were funds in the account, I guess,” Yu said.
In the suit filed in 2021, the two companies are seeking a declaration that Najib is liable to them for the receipt of RM42mil, among others.
Najib is also being sued for breach of fiduciary duties, knowing receipt of the funds, dishonest assistance, tort of misfeasance and abuse of power.
The hearing before Justice Raja Ahmad Mohzanuddin Shah Raja Mohzan resumes today.
