1mdb Funds Used To Buy Votes During Ge13 Court Told

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Najib Razak is being tried on charges of money laundering and abuse of power over RM2.28bil in 1MDB funds deposited into his AmBank accounts between 2011 and 2014. (Bernama pic)KUALA LUMPUR: A prosecution witness today claimed that the authorities had in May 2015 received complaints that 1MDB funds were used to buy votes during the country’s 13th general election held two years earlier.
Malaysian Anti-Corruption Commission (MACC) investigating officer Nur Aida Arifin told the High Court hearing Najib Razak’s 1MDB trial that investigations into the former prime minister began in August 2015 following the complaints.
She said the complainant in the report alleged that Najib had received US$681 million in 2013 from Tanore Finance Corporation, which had been used to bribe voters during the election.
Aida added that the case was initially investigated by her colleague, Nasharudin Amir.
She said she took over the conduct of the investigation sometime in 2018.
Aida told the court that in the course of her investigation she secured documents from various parties, including the police, Bank Negara Malaysia, the Labuan Financial Services Authority, Treasury, and the Prime Minister’s Department.
She also said documents were sourced from overseas entities as part of the investigations.
Terengganu Investment Authority
Aida said that, based on her investigations, the Terengganu Investment Authority (TIA) was initially set up by the Terengganu government as a sovereign wealth fund to facilitate the state’s development.
She said the fund was set up after Low Taek Jho (better known as Jho Low) presented the idea to Sultan Mizan Zainal Abidin sometime in 2008.
TIA was officially incorporated on Feb 27, 2009, and Shahrol Azral Ibrahim Halmi was appointed its CEO, while Ismee Ismail and Bakke Salleh served as directors.
TIA then proceeded to issue Islamic medium-term notes to raise a RM5 billion loan. The federal government served as a guarantor of the notes.
However, Aida said on May 22 that year, Sultan Mizan ordered that the bond issue be suspended.
In 2019, the court heard testimony from Shahrol that the Terengganu ruler was “furious” over the issuance.
Shahrol also testified that Ismee and he had met Najib at the former prime minister’s home. Shahrol claimed that Najib had told him to go ahead with the issuance of the bonds.
In July 2009, the federal government took over TIA and renamed it 1MDB.
Najib is charged with 25 counts of money laundering and abuse of power over alleged 1MDB funds amounting to RM2.28 billion deposited in his AmBank accounts between February 2011 and December 2014.
The hearing continues on Jan 5 before Justice Collin Lawrence Sequerah. - FMT

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