Ambank Converted Us 710m Into Rm2 1b For Private Client Banker

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1MDB TRIAL | AmBank has converted over US$710 million into RM2,172,376,853.28 for a client’s private account between Oct 31, 2012 and April 10, 2013, the Kuala Lumpur High Court heard today.
However, during the RM2.28 billion 1MDB corruption trial against former prime minister Najib Abdul Razak (above), the bank’s vice-president of the Treasury Operation Department, Salmah Daman Huri, did not specify whose account it was.
As former finance minister Najib looked on from the dock, the 23rd prosecution witness confirmed the 11 foreign exchange transactions (based on the then prevailing international monetary exchange rate) while reading from a written witness statement.
During examination-in-chief by deputy public prosecutor Mohamad Mustaffa P Kunyalam, Salmah said that the foreign exchanges involved a “Amprivate Banking Mr C/O Amprivate Banking”.
She said that the first transaction took place on Oct 31, 2012 involving US$4,999,988 and the 11th transaction was on April 10, 2013 involving US$200 million.
Salmah testified that the other transactions also involved amounts such as US$24,999,988, US$50 million, US$60,999,988 and US$100 million.
According to the prosecution’s opening statement at the beginning of the trial in August 2019, lead deputy public prosecutor Gopal Sri Ram contended that US$5 million flowed into Najib’s account at AmPrivate Bank on Oct 30, 2012.
Former federal court judge Sri Ram then also contended that US$681 million was transferred into the accused’s account between March 21 2013 and April 10, 2013.
Proceedings before trial judge Collin Lawrence Sequerah will continue on Monday next week.
Najib was represented by defence counsel Wan Aizuddin Wan Mohammed.
The accused is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion of 1MDB’s funds.
Besides being the former premier and finance minister, Najib also used to be chairperson of 1MDB’s board of advisers. 1MDB is wholly owned by the Minister of Finance Incorporated.
The Pekan member of Parliament was alleged to have committed the four counts of corruption at AmIslamic Bank Berhad’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011 and Dec 19, 2014.
In regards to the 21 money laundering charges, Najib is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013. - Mkini

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