‘Lots of money’ sent to Najib to fund Umno and BN, court told

Defence counsel Shafee Abdullah objects to Jasmine Loo’s statement, saying it is hearsay.

Fugitive financier Low Taek Jho, better known as Jho Low, once informed 1MDB general counsel Jasmine Loo that “a lot of money” had been deposited in Najib Razak’s accounts to fund Barisan Nasional and Umno, the High Court heard today.

Loo said she pressured Low to know about the transactions, but he told her not to worry, saying he would handle the matter.

“Low also told me that in case of any eventuality, he has evidence that it was done at the request and knowledge of Najib,” she said when examined by deputy public prosecutor Deepa Nair Thevaharan.

At this juncture, defence counsel Shafee Abdullah stood and objected, saying Loo’s statement was hearsay. In reply, Deepa said the objection should be taken up during submissions.

Justice Collin Lawrence Sequerah did not rule on the objection.

Loo, the prosecution’s 50th witness, said she came to know from media reports in 2015 and 2016 that a lot of money had been deposited into Najib’s accounts, and sought confirmation from Low as to its purpose.

“He told me the money was political funds for BN, especially Umno,” she said.

Najib, who was the prime minister from 2009 to 2018, was Umno president and chairman of BN, a coalition of parties led by Umno.

Loo testified that she frequently saw Najib and Low together at 1MDB-related programmes.

She said she had seen Low in possession of an envelope containing blank stationery bearing the letterhead of the Prime Minister’s Office which he used as and when the need arose.

“For example, I have seen the PMO letterhead on the appointment of 1MDB chief executive officer Hazem Abdul Rahman which Low prepared at his home in (Jalan) Kia Peng.

“Low told me he will take the letter to the Prime Minister’s Office for Najib to sign,” she said.

On another occasion, Loo said, Low accompanied Najib to the 2013 United Nations General Assembly in New York.

She also said Low was later seen waiting for Najib at a hotel in New York after arranging for a meeting with US investors with the cooperation of Goldman Sachs, the investment bank.

On Low’s associate Tan Kim Loong, Loo said she knew him as a friend and first met him at the UBG office in 2009.

“At that time, Tan, also known as Eric Tan or Fat Eric, was also a business partner to Low and was involved in running restaurants and real estate,” she said.

MACC investigating officer Nur Aida Arifin yesterday told the court her investigations revealed that Najib received money from Blackstone, Tanore Finance Corporation, and Vista Equity International, which belonged to Tan.

Najib is facing 25 charges for abuse of power and money laundering over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.

The hearing continues.