Najib Received Rm60mil From Prince Faisal Says Witness

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AmBank officer Yap Wai Keat told the High Court that Najib Razak received RM2.3 billion in his bank account between 2011 and 2013. (Bernama pic)KUALA LUMPUR: Najib Razak received about RM60 million from Prince Faisal Turki Al Saud in 2011, the High Court heard today. However, it is unclear whether Faisal has any link to the Saudi royal family.
Yap Wai Keat, who heads AmBank’s capital market desk, said about RM30 million was deposited into Najib’s account on Feb 24, 2011, with another RM30 million banked in on June 14 of the same year.
The 38th prosecution witness said his task was to convert money received in US dollars into ringgit.
Reading from his witness statement, Yap said that in 2012 the former prime minister and finance minister also received about RM90 million from Blackstone Asia Real Estate Partners.
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A further sum of RM15 million was deposited into Najib’s account on Oct 31, 2012 and another RM75 million on Nov 19 that year.
The prosecution contends that the funds came from a company linked to fugitive businessman Low Taek Jho, also known as Jho Low.
Yap said Najib also received another RM2.08 billion from Tanore Finance Corp in nine tranches between March 22, 2012 and April 4, 2013.
Tanore is also a company linked to Jho Low and his business associate Tan Kim Loong.
He said information on the incoming funds was relayed by the bank’s remittance division to him and to Najib’s relationship manager, Joanna Yu, who was tasked with informing the former prime minister of the inbound remittances.
“Joanna then instructed me to execute the conversion of money from US dollars to ringgit after she had obtained approval from the client (Najib),” he said.
Yap said between Aug 2 and Aug 23, 2013, about RM2.03 billion, which at the time was equivalent to US$620 million, was withdrawn five times from his account.
Najib, 69, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The hearing before judge Collin Lawrence Sequerah continues. - FMT

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