Najib received RM2.28b of 1MDB funds over four years: BNM analyst
Datuk Seri Najib Razak received a total of RM2.28 billion belonging to 1Malaysia Development Bhd (1MDB) over a span of four years, the High Court heard.
(NST) – A Bank Negara Malaysia (BNM) analyst Adam Ariff Mohd Roslan said the former prime minister received the funds in four stages between 2011 and 2014.
The 29-year-old prosecution witness said this when testified in the Najib corruption trial for misappropriating funds belonging to the sovereign wealth fund today.
Adam, who was part of the 1MDB task force in 2018, stated that he arrived at this conclusion after analysing 343 documents and records related to Najib’s bank account at AmIslamic bank.
“While seconded at the Malaysian Anti-Corruption Commission (MACC), I was assigned by the Investigating Officer (IO), Senior Superintendent Nur Aida binti Arifin, to assist in the identification and tracing of the link between the funds raised by 1MDB and the monies received by Najib into his two personal accounts at AmIslamic Bank Berhad.
“I have prepared a written report to establish the chain of transactions with links to the sources of funds received by Najib into the abovesaid personal bank accounts namely AmPrivate Banking – MR and AmPrivate Banking – 1MY,” he said.
He said his analysis revealed that the said funds received by Najib can be traced and separated into four phases as follows:
– The “Good Star” Phase
Between Feb 23, 2011 and June 14, 2011, RM60,629,839.43 of the proceeds that were credited into Najib’s account from an account at Riyad Bank, Saudi Arabia is found to be traceable to the issuance of 1MDB’s IMTN bond in 2009 and its Syndicated Term Loan in 2010.
– The “Aabar-BVI” Phase
Between Oct 30, 2012 and Nov 20, 2012, RM90,899,927.28 of the proceeds that were credited into Najib’s account from an account at Standard Chartered Bank, Singapore held in the name of Blackstone Asia Real Estate Partners is found to be traceable to the bond issued by 1MDB Energy (Langat) Limited in 2012.
– The “Tanore” Phase
Between March 21, 2013 and April 10, 2013, RM2,081,476,926 of the proceeds that were credited into Najib’s account from an account at Falcon Private Bank, Singapore held in the name of Tanore Finance Corp. is found to be traceable to the bond issued by 1MDB Global Investment Limited in 2013.
– The “Options Buyback” Phase
On June 23, 2014, RM4,093,500.00 of the proceeds that was credited into Najib’s account from an account at DBS Bank, Singapore held in the name of Blackrock Commodities (Global) Limited is found to be 39 traceable to the US$250 million loan proceeds of 1MDB Energy Holdings Limited in 2014.
Between Oct 23, 2014 and Dec 19, 2014, RM45,837,485.70 of the proceeds that were credited into Najib’s account from an account at Amicorp Bank, Barbados held in the name of Vista Equity International Partners Limited is found to be partially traceable to the US$975 million loan proceeds of 1MDB Energy Holdings Limited in 2014.
Adam in his conclusion said the funds which were remitted into Najib’s accounts at AmIslamic Bank are traceable to the proceeds raised by 1MDB and its subsidiary companies.
Najib, 70, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
