Najib Knew What Was Happening To His Account Ex Banker

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1MDB TRIAL | Najib Abdul Razak’s former banker testified that the former premier knew about the transactions in his bank account linked to fugitive businessperson Low Taek Jho (Jho Low).
Former relationship manager Joanna Yu told the Kuala Lumpur High Court today that this was her reason to abide by Low’s request to not reveal to another bank - Wells Fargo - that the account holder was Najib.
The 41st prosecution witness was replying to cross-examination by lead defence counsel Muhammad Shafee Abdullah during the RM2.28 billion 1MDB corruption trial against former finance minister Najib.
Shafee was asking her why Yu told AmBank’s then-compliance unit that the identity of the account holder could not be revealed to Wells Fargo, which was conducting a money-laundering exercise by seeking AmBank to reveal the account holder’s identity.
The alleged flow of funds into Najib’s account at AmBank involved it going through Wells Fargo beforehand, with the latter - an international bank - seeking from the Malaysian bank the identity of the account holder.
The heart of Najib’s defence is that the accused was not aware of wrongdoing perpetrated involving his accounts, and that the wrongdoing was solely masterminded by Low and several others.
Former prime minister Najib Abdul RazakShafee: With hindsight, you are now aware if the information was properly released (to Wells Fargo), the whole matter of the issue of whether money was “kosher” (lawful) or not would be known earlier and you would have protected the prime minister (Najib) rather than harm him?
Yu: I believe he (Najib) was kept informed. Cheques were issued, credit cards used. I took it that he knew what was happening.
At this juncture, the defence counsel contended that Najib was under the impression that the money was from a Saudi royal donation, hence the then premier issuing cheques and credit cards.
Previously, the defence team had also raised the contention that Najib was under the impression that the funds coming into his accounts were donations from the Saudi royalty rather than originating from 1MDB.
However, after continuous grilling from Shafee, Yu (above) conceded it was possible that Najib may not have known the state of his bank accounts if Low did not update the accused about the bank accounts.
Defence counsel Muhammad Shafee AbdullahShafee was earlier questioning Yu on whether Low - through conversations with Yu via Blackberry Messenger (BBM) regarding Najib’s accounts - was actually being truthful about communicating with Najib or was actually misleading her about his communication with the then-premier.
Shafee: You would not know whether Jho was really updating (Najib) or Jho Low was a total conman?
Yu: No (agreeing she would not know).
The witness, who used to work with AmBank, also told the court that Low asked her to keep confidential the identity of Najib being the account holder as it was the then premier’s account.
Previously, Yu testified being in constant communication with Low in regard to the management of Najib’s accounts.
Najib’s blessing
Yu had also previously testified in the separate RM42 million SRC International corruption trial against Najib. The accused is currently serving a 12-year jail sentence over that case.
The 1MDB trial before judge Collin Lawrence Sequerah continues today.
Yu had been on the witness stand for 11 days (inclusive of today) since Oct 13 last year, with nine of those days spent being cross-examined by Najib’s lawyers.
Kamal Baharin Omar and Ahmad Akram Gharib formed part of the deputy public prosecutors leading the prosecution team.
Najib is facing four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion from 1MDB.
For the four abuse of power charges, the former Pekan MP is alleged to have committed the offences at AmIslamic Bank Berhad’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.
On the 21 money laundering counts, the former finance minister is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.
The prosecution contended that the wrongdoing at 1MDB was carried out by Low and several others, with Najib’s blessing. - Mkini

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