‘No name’ account awarded 1MDB millions, High Court heard

0

KUALA LUMPUR: The High Court has heard that 1Malaysia Development Bhd (1MDB) has asked AmBank to remove oil and gas company PetroSaudi International Ltd (PSI) as the beneficiary of two transactions worth US$95 million (RM289.8 million) in 2011.

Prosecution witness Salmah Daman Huri, 50, testified that the bank’s foreign exchange unit received a letter from 1MDB on May 26, 2011, ordering the removal of two transactions; for US$30 million (RM90.8 million) as of May 20, 2011 and US$65 million (RM199 million) as of May 23, 2011.

This is despite previous instructions from 1MDB to make the US$30 million and US$65 million payments to PSI using account 11116073.2000 held by RBS Coutts Bank Ltd.

“1MDB did not inform the name of the new account holder but asked the bank to keep the current account number 11116073.2000 without naming the account holder,” Salmah said.

Salmah, who is vice president of Ambank’s treasury operations department, was reading her witness statement during direct examination by Deputy Attorney General Mohamad Mustaffa P. Kunyalam here during the 1MDB trial involving the former prime minister Datuk Seri Najib Razak on Thursday (June 9).

The witness also saw a letter issued by PSI to 1MDB on May 25, 2011 – a day before the bank received the withdrawal orders – which instructed 1MDB to omit PSI as the recipient of both transactions.

“This letter is also an instruction from PSI to 1MDB for 1MDB to retain the current account number which is 11116073.2000 without stating the name of the account holder,” she said.

Meanwhile, another witness Fatehah Md Salleh, 39, said Deutsche Bank (M) Bhd received a payment instruction for US$110 million from 1MDB on May 27, 2011.

The amount was to be credited to account 11116073.2000 held at RBS Coutts.

The witness, assistant vice president of Deutsche Global Market Operation, said the letter of instruction was signed by 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi.

Fatehah also referred to a letter sent by PSI to 1MDB and signed by Tarek Obaid on May 25, 2011.

The letter specified that the recipient of the transaction should be “account 11116073.2000” and not PSI.

The letter also stated that the account (11116073.2000) had received US$30 million and US$65 million.

After the bank ran the Preventive Crime Search (PCR) and “HotScan” systems for the purposes of the transaction, checks showed there were no impediments or “no success” to proceed with the transaction. .

“I hereby confirm that the transaction has been completed,” she said.

The court had previously heard testimony that bank account number 11116073 belonged to Good Star Ltd, a company which was initially depicted as a subsidiary of PSI but later revealed to be controlled by fugitive businessman Low Taek Jho or better known as Jho Low.

Najib is on trial on a total of 25 counts – four for abuse of power which allegedly earned him a financial benefit to the tune of RM2.28 billion; and 21 for money laundering involving the same amount of money.

The hearing continues before Judge Collin Lawrence Sequerah on Monday June 13.

Share.

About Author

Comments are closed.