KUALA LUMPUR – An analyst from Bank Negara Malaysia (BNM) today told the high court here that fugitive businessman Low Taek Jho, or Jho Low, opened a Swiss bank account for his company, Good Star Ltd, three months before the entity received US$700 million (RM3.25 billion) of 1Malaysia Development Bhd’s (1MDB) funds in 2009.
Adam Ariff Mohd Roslan, 34, said Jho Low opened Good Star’s bank account on June 11, 2009, and the company received US$700 million on September 30, 2009.
The 47th prosecution witness said that according to the banking records, 1MDB instructed Deutsche Malaysia to make this transfer (US$700 million).
He said this when questioned by deputy public prosecutor Kamal Baharin Omar at Datuk Seri Najib Razak’s trial involving the alleged misappropriation of RM2.3 billion of 1MDB funds.
However, Najib’s counsel, Muhammad Farhan Muhammad Shafee, said that the defence team maintained its objection over the admissibility of the document that the prosecution was relying on to prove Good Star’s account opening.
Earlier, Adam testified that the RM2.28 billion that entered Najib’s private bank accounts in 19 transactions from 2011 to 2014 could be traced back to funds raised and belonging to 1MDB, and this was his finding after analysing 343 banking documents and records.
Reading out his July 2023 money trail report, which gave a detailed analysis of the money that entered Najib’s personal bank accounts, Adam said he had made the statements and analysis in the report in good faith and said these were based on information up to the date of the report that is believed to be reliable and accurate.
In his report, Adam also said he had no reason to believe that there were any material facts that were misleading or had been withheld from him.
Najib, 70, faces four charges of using his position to obtain bribes amounting to RM2.3 billion belonging to 1MDB and 21 charges of money laundering involving the same amount.
The trial before judge Datuk Collin Lawrence Sequerah continues on September 18. – August 30, 2023