Overhauling Malaysia | The 1MDB Scandal

As promised in their GE14 manifesto, the new Pakatan (PH) government has finally succeeded in putting a case together on the 1MDB scandal. Today the former Malaysian Prime Minister Datuk Seri Najib Tun Razak has been formally charged for 3 counts of CBT for a total of RM42 mil and also the abuse of power in relation to the 1MDB scandal. 

New Malaysia | Najib's 1MDB Trial  |

In the News Snippets & Links 

Nov 12, 2019 Najib’s 1MDB trial to resume Jan 6, unable to proceed today as witness, lawyer sick

Datuk Seri Najib Razak’s corruption trial over the alleged financial fraud 1Malaysia Development Berhad (1MDB) will not go on today or tomorrow as both his lawyer and the witness are both on sick leave.|Read more >|Malaymail

Nov 07, 2019 1MDB ex-CEO denies negligence in sending 1MDB’s money to Jho Low’s firm

The 1Malaysia Development Berhad (1MDB) senior management was not negligent when it sent hundreds of millions in US dollars to Good Star Limited in 2009 and 2011 without investigating the latter’s real owner, 1MDB’s former CEO said today.|Read more >|Malaymail

Nov 07, 2019 1MDB trial: I want to make him swallow his own vomit, says Shafee

The lead defence counsel in the 1Malaysia Development Bhd (1MDB) trial said he wanted to make the former chief executive of the sovereign wealth fund "swallow his own vomit" for linking Datuk Seri Najib Razak to notorious businessman Low Taek Jho @ Jho Low.|Read more >|NST

Nov 07, 2019 Additional RM1b approved by Najib not recommended by 1MDB BOD: Witness

The High Court was today told that an additional RM1 billion which was invested in the 1MDB-PetroSaudi International Ltd joint-venture was approved by Datuk Seri Najib Abdul Razak, in 2011.|Read more >|SunDaily

Nov 07, 2019 1MDB transferred US$330mil into Good Star's account, court told

The High Court was told that 1Malaysia Development Bhd (1MDB) had transferred money into the account of Good Star Ltd, which belongs to fugitive financier Low Taek Jho, also known as Jho Low, when the money was intended for PetroSaudi International Ltd (PSI).|Read more >|TheStar

Nov 06, 2019 Ex-1MDB CEO agrees Jho Low, Patrick Mahony and Tarek Obaid conspired to mislead Najib

Former 1 Malaysia Development Berhad (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi agreed with the assertion by the trial’s defence that fugitive financier Low Taek Jho had conspired with two Petrosaudi International Limited (PSI) directors, Patrick Mahoney and Tarek Obaid to mislead former Prime Minister Datuk Seri Najib Razak, the High Court heard today.|Read more >|Malaymail

Nov 06, 2019 PSI chief ordered company to transfer RM342mil into his personal account, court told

PetroSaudi International Ltd (PSI) CEO Tarek Obaid ordered the transfer of 82mil Swiss francs (RM342mil) from PSI's account to his personal account, the High Court heard on Wednesday (Nov 6).|Read more >|TheStar

Nov 06, 2019 Najib's lawyer: PSI CEO Tarek 'hijacked' 1MDB's US$500m loan to take 82m Swiss Francs for Jho Low's firm

PetroSaudi International (PSI) CEO Tarek Obaid diverted money from US$500 million (RM2.06 billion) hat was borrowed from 1Malaysia Development Berhad (1MDB) for a purported investment, by ordering 82 million Swiss Francs from the US$500 million to be sent to Low Taek Jho's company's account, the High Court heard today.|Read more >|Malaymail

Nov 06, 2019 US$17,000 of 1MDB money used to pay for Starbucks coffee

It took just one week for the owner of PetroSaudi International Ltd (PSI), Tarek Obaid, to steal 82 million Swiss Francs from a joint venture company (jv) which 1Malaysia Development Bhd (1MDB) had invested in.|Read more >|NST

Nov 05, 2019 Ex-1MDB CEO said Jho Low pressured him into expediting US$500m PSI loan

1Malaysia Development Berhad (1MDB) former Chief Executive Datuk Shahrol Azral Ibrahim Halmi said fugitive financier Low Taek Jho had pressured the sovereign wealth fund to expedite the sending of US$500 million in loan to the purported Saudi-linked PetroSaudi International Limited (PSI), the High Court heard today.|Read more >|Malaymail

Nov 05, 2019 1MDB lost US$2.2 billion in dealings with PSI

Former 1Malaysia Development Berhad (1MDB) CEO Datuk Shahrol Azral Ibrahim Halmi said the sovereign wealth fund was only paid RM129 million by PetroSaudi International Limited (PSI) although it owed 1MDB a total of US$2.2 billion.|Read more >|SunDaily

Nov 04, 2019 Ex-CEO: 1MDB didn’t check if partner had Saudi royal ties, but Najib had ‘vouched’ for PSI

1Malaysia Development Berhad (1MDB) had not conducted due diligence checks to verify if its business partner PetroSaudi International Limited (PSI) truly had ties to the Saudi royal family or the Saudi government before entering into deals together, the High Court heard today.|Read more >|Malaymail

Nov 04, 2019 Most of 1MDB funds raised for TRX, Bandar Malaysia projects, diverted to PSI, court told

The High Court here was told today that most of the funds raised by sovereign wealth fund 1Malaysia Development Berhad (1MDB) for the Tun Razak Exchange (TRX), and Bandar Malaysia development projects, had instead gone to PetroSaudi International Ltd (PSI).|Read more >|SunDaily

Oct 30, 2019 PSI CEO received USD$85m commission for 1MDB-PSI deal, court told

The chief executive officer (CEO) of PetroSaudi International Ltd (PSI) Tarek Obaid received a commission of USD$85 million for a joint-venture (JV) deal between PSI and 1Malaysia Development Bhd (1MDB), the High Court heard today.|Read more >|NST

Oct 30, 2019 | 1MDB ex-CEO never suspected US$700m went to Jho Low despite stonewalling, denies in conspiracy

The former CEO of 1Malaysia Development Berhad (1MDB) today said he was unaware that US$700 million of the government-owned company’s funds had actually went to fugitive financier Low Taek Jho in 2009 instead of to a business partner’s purported affiliate.|Read more >|Malaymail

 

Oct 29, 2019 Witness: Najib said no need for second valuation on PSI assets

Former prime minister Datuk Seri Najib Razak did not want a second valuation be done on the assets of 1Malaysia Development Bhd's (1MDB) joint venture partner, PetroSaudi International Ltd (PSI), the High Courtm heard today.|Read more >|NST

Oct 29, 2019 Ex-CEO Shahrol confirms he is ‘1MDB Officer 2’ in US probe, but denies in league with Jho Low

Datuk Shahrol Azral Ibrahim Halmi told the High Court here today that he is the person identified as “1MDB Officer 2” in the United States government’s investigations of the global financial scandal.|Read more >|Malaymail

Oct 29, 2019 1MDB board was unaware of US$1b JV fund split: Ex 1MDB CEO

The High Court today was told that the 1Malaysia Development Berhad (1MDB) board of directors (BOD) was not informed about the decision to split the US$1 billion meant for 1MDB-PetroSaudi International Ltd (PSI) joint venture (JV) into US$300 million and US$700 million, with the bigger portion eventually going to Good Star Ltd.|Read more >|SunDaily

Oct 29, 2019 Najib’s 1MDB trial: CEO’s fiduciary duty still a hot topic in cross-examination

The fiduciary duty of a CEO was still a hot topic in the cross-examination of key witness Datuk Shahrol Azral Ibrahim Halmi in the 1Malaysia Development Bhd (1MDB) trial.|Read more >|TheStar

Oct 29, 2019 Ex-1MDB CEO claims would have quit if could go back in time

Datuk Shahrol Azral Ibrahim Halmi today said he would have resigned as chief executive of 1Malaysia Development Berhad (1MDB) if he could revisit the opportunity.|Read more >|Malaymail

Oct 24, 2019 Former 1MDB CEO: 'We only did internet search on PetroSaudi asset

1Malaysia Development Bhd (1MDB) happily gave away US$1 billion to its joint venture partner, which had made grandiose claims of owning billions of dollars worth of assets, by relying mainly on Google search to verify its background.|Read more >|NST

Oct 24, 2019 Jho Low was advising 1MDB, Najib and PetroSaudi at the same time, court told

Fugitive financier Low Taek Jho was in direct conflict of interest with 1Malaysia Development Berhad (1MDB) as he was also advising PetroSaudi International (PSI) in 2009, the trial’s defence lawyer suggested at the High Court today.|Read more >|Malaymail

Oct 24, 2019 Ex-CEO: 1MDB like ‘fools’, gave US$1b when partner only put in US$108m of US$1.5b promised

1Malaysia Development Berhad (1MDB) was like a fool when it injected US$1 billion into a joint venture, while its Cayman Island-based joint venture partner only put in US$108 million worth of assets instead of the full US$1.5 billion assets into the joint venture, the High Court heard today.|Read more >|Malaymail

Oct 24, 2019 1MDB BOD not informed about US$700m loan in JV with PSI

The High Court was today told that 1Malaysia Development Berhad (1MDB) board of directors (BOD) was not informed about the US$700 million (RM2.93 billion) debt by its joint-venture company 1MDB-PetroSaudi Ltd upon the signing of the joint venture with PetroSaudi International Ltd (PSI).|Read more >|SunDaily

 

Oct 24, 2019 1MDB was Najib, Najib was 1MDB, says witness

Former chief executive officer of state-owned sovereign wealth fund 1Malaysia Development Berhad (1MDB) today described that the “1MDB was Datuk Seri Najib, Datuk Seri Najib was 1MDB”.|Read more >|SunDaily

Oct 24, 2019 Former 1MDB CEO and defence in war of words over meaning of 'fiduciary'

A key witness in the 1Malaysia Development Bhd (1MDB) trial got into a war of words with the defence over the word "fiduciary" relating to his role in the sovereign wealth fund.|Read more >|TheStar

 

Oct 21, 2019 1MDB scandal: Court hears how US$700 million was paid for US$1 company

The former chief executive of 1Malaysia Development Bhd (1MDB) today gave further insights on how the sovereign wealth fund was run, including his mindset of doing things in Team Najib while managing affairs.|Read more >|NST

Oct 21, 2019 1MDB ex-CEO thought he could decide US$700m transfer without consulting the board

Datuk Shahrol Azral Ibrahim Halmi today said he believed that he had the power to proceed with 1Malaysia Development Berhad’s (1MDB) US$700 million (RM2.9 billion) transfer out without consulting the 1MDB board about this September 2009 transaction that had come up on short notice.|Read more >|Malaymail

Oct 21, 2019 Signing ceremony between 1MDB and PSI JV never happened

The signing ceremony of the joint-venture (JV) project between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) never happened, the High Court heard today.|Read more >|SunDaily

Oct 21, 2019 I was discouraged from being a 'busybody', says former 1MDB CEO

A witness told the High Court here that he was discouraged from being a “busybody” on matters pertaining to 1Malaysia Development Berhad (1MDB).|Read more >|TheStar

Najib's 1MDB Trial from Day 1 >

New Malaysia | T Adnan's Corruption Trial |

In the News Snippets & Links

Sep 20, 2019 As trial starts, court told Tengku Adnan accepted RM1m bribe for larger land in Jalan Semarak

The prosecution kicked off the corruption trial of Umno’s Datuk Seri Tengku Adnan Tengku Mansor today by portraying him as a lawmaker who abused his ministerial position for personal gratification.|Read more >|Malaymail

 

Sep 20, 2019 KuNan received monthly salary of RM39,227.20 including allowance, court told

The High Court here was told today that former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor (pix) received a monthly salary of RM39,227.20, including allowance, from 2013 to 2018.|Read more >|SunDaily

 
New Malaysia | Isa Samad's Corruption Trial |

In the News Snippets & Links

 

Oct 24, 2019 GAPSB handed over RM3.09m in stages after receiving ‘salam’ from Mohd Isa: Witness

A former board member of Gegasan Abadi Properties Sdn Bhd (GAPSB) told the High Court here today that he had given bribes totalling RM3.09 million to Tan Sri Mohd Isa Abdul Samad after receiving ‘salam’ (greetings) from the former Felda Chairman.|Read more >|SunDaily

Oct 24, 2019 Isa's middleman sent 'salam' to ask for payments totalling RM3.09 million

In a damning testimony, a witness revealed in the High Court today that ‘salam’ (greetings) was used as a codename to mask kickbacks to former Federal Land Development Authority (Felda) chairman Tan Sri Mohd Isa Samad.|Read more >|NST

Oct 21, 2019 Isa Samad solicited for RM3m from GAPSB: Witness

The High Court here was today told that former Felda chairman Tan Sri Mohd Isa Abdul Samad (pix) solicited RM3 million from Gegasan Abadi Properties Sdn Bhd (GAPSB) in the purchase of Merdeka Palace Hotel & Suites (MPSH) worth RM160 million.|Read more >|SunDaily

Oct 18, 2019 Lawyer accuses former Felda Investment boss of blaming Isa to save own neck

There was drama at the trial of former Federal Land Development Authority (Felda) chairman Tan Sri Mohd Isa Samad at the High Court today.|Read more >|NST

Oct 18, 2019 I never agreed with the hotel purchase: FICSB ex-ceo

Former Felda Investment Corporation Sdn Bhd (FICSB) chief executive officer Mohd Zaid Abdul Jalil told the High Court here today that it was only him who disagreed with the purchase of Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak worth RM160 million.|Read more >|SunDaily

Oct 18, 2019 Isa Samad trial: I disagreed with Sarawak hotel purchase but kept mum, admits ex-FICSB CEO

Former Felda Investment Corporation Sdn Bhd (FICSB) chief executive officer Mohd Zaid Abdul Jalil told the High Court here today that it was only him who disagreed with the purchase of Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak worth RM160 million.|Read more >|Malaymail

Oct 17, 2019 Isa Samad trial: I did not overstep authority in hotel purchase, says ex-FICSB CEO

A former chief executive officer of Felda Investment Corporation Sdn Bhd (FICSB) told the High Court here today that he did not overstep his authority in the purchase of Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak.|Read more >|Malaymail

Oct 16, 2019 No report lodged on Felda hotel purchase that exceeded RM100m, says witness

The High Court heard today that no reports were lodged to the authorities on the purchase of Merdeka Palace Hotel & Suites by Felda Investment Corporation Sdn Bhd (FICSB) although it was made above the RM100 million investment mandate set by its parent company.|Read more >|NST

Oct 16, 2019 Former 1MDB CEO signed away US$1 billion without checking, court told

Former Felda Investment Corporation Sdn Bhd (FICSB) chief executive officer (CEO) Mohd Zaid Abdul Jalil denied having any personal interest in the purchase of Merdeka Palace Hotel & Suites.|Read more >|NST

Oct 17, 2019 No report lodged on Felda hotel purchase that exceeded RM100m, says witness

The High Court heard today that no reports were lodged to the authorities on the purchase of Merdeka Palace Hotel & Suites by Felda Investment Corporation Sdn Bhd (FICSB) although it was made above the RM100 million investment mandate set by its parent company.|Read more >|NST

Oct 16, 2019 Witness: Isa said there was no need to table proposal for hotel acquisition in board meeting

Former Federal Land Development Authority (Felda) chairman Tan Sri Mohd Isa Abdul Samad had excluded the tabling of proposal for the acquisition of Merdeka Palace Hotel & Suites, costing RM160 million, in the Felda board of director’s meeting, the High Court heard.|Read more >|NST

Oct 16, 2019 Najib instructed Felda subsidiary to review Kuching hotel acquisition proposal

Datuk Seri Najib Razak’s name cropped up in the High Court today when it was revealed that he instructed Felda Investment Corporation Sdn Bhd (FICSB) to revaluate the Merdeka Palace Hotel & Suites acquisition proposal.|Read more >|NST

Oct 09, 2019 Isa Samad did not seek Felda board approval for hotel purchase, court told

The High Court here was told today that former Felda chairman Tan Sri Mohd Isa Samad did not seek approval to purchase the RM160 million Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak, at the Felda’s Board of Directors’ (BOD) meeting.|Read more >|Malaymail

Oct 07, 2019 RM160m hotel purchase not according to Felda’s mandate: Witness

The High Court here was told today that former Felda chairman Tan Sri Mohd Isa Abdul Samad had surpassed a mandate in the purchase of the RM160 million Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak by Felda Investment Corporation Sdn Bhd (FICSB).|Read more >|SunDaily

Oct 07, 2019 Isa Samad corruption trial: Felda channels RM653m to FICSB

The High Court here was today told that Felda had channelled funds to its subsidiary, Felda Investment Corporation Sdn Bhd (FICSB) amounting to RM653 million for investment and business.|Read more >|SunDaily

Oct 07, 2019 Prosecution says will prove ex-Felda chairman Isa Samad received more than RM3m in bribes

The prosecution will prove that former Felda chairman Tan Sri Mohd Isa Abdul Samad had received more than RM3 million in bribes over the approval of the purchase of a hotel in Kuching, Sarawak, by Felda Investment Corporation Sdn Bhd (FICSB).|Read more >|Malaymail

New Malaysia | Najib's SRC Trial  |

In the News Snippets & Links 

Oct 22, 2019 AG: It was a well planned, deliberate and pre-meditated plot

Datuk Seri Najib Razak was involved in every step of the way in ripping off SRC International right from the time it was established, the High Court heard today.|Read more >|NST

Oct 22, 2019 SRC trial: Najib who ‘orchestrated’ SRC’s RM42m fraud, must enter defence to answer himself

Datuk Seri Najib Razak must be called to his defence to explain his complicity in the misappropriation of RM42 million belonging to SRC International Sdn Bhd by abusing his power as prime minister and finance minister, the High Court heard today.|Read more >|Malaymail

 
New Malaysia | Najib's 1MDB Trial  |

In the News Snippets & Links 

Oct 30, 2019 PSI CEO received USD$85m commission for 1MDB-PSI deal, court told

The chief executive officer (CEO) of PetroSaudi International Ltd (PSI) Tarek Obaid received a commission of USD$85 million for a joint-venture (JV) deal between PSI and 1Malaysia Development Bhd (1MDB), the High Court heard today.|Read more >|NST

Oct 30, 2019 | 1MDB ex-CEO never suspected US$700m went to Jho Low despite stonewalling, denies in conspiracy

The former CEO of 1Malaysia Development Berhad (1MDB) today said he was unaware that US$700 million of the government-owned company’s funds had actually went to fugitive financier Low Taek Jho in 2009 instead of to a business partner’s purported affiliate.|Read more >|Malaymail

 

Oct 29, 2019 Witness: Najib said no need for second valuation on PSI assets

Former prime minister Datuk Seri Najib Razak did not want a second valuation be done on the assets of 1Malaysia Development Bhd's (1MDB) joint venture partner, PetroSaudi International Ltd (PSI), the High Courtm heard today.|Read more >|NST

Oct 29, 2019 Ex-CEO Shahrol confirms he is ‘1MDB Officer 2’ in US probe, but denies in league with Jho Low

Datuk Shahrol Azral Ibrahim Halmi told the High Court here today that he is the person identified as “1MDB Officer 2” in the United States government’s investigations of the global financial scandal.|Read more >|Malaymail

Oct 29, 2019 1MDB board was unaware of US$1b JV fund split: Ex 1MDB CEO

The High Court today was told that the 1Malaysia Development Berhad (1MDB) board of directors (BOD) was not informed about the decision to split the US$1 billion meant for 1MDB-PetroSaudi International Ltd (PSI) joint venture (JV) into US$300 million and US$700 million, with the bigger portion eventually going to Good Star Ltd.|Read more >|SunDaily

Oct 29, 2019 Najib’s 1MDB trial: CEO’s fiduciary duty still a hot topic in cross-examination

The fiduciary duty of a CEO was still a hot topic in the cross-examination of key witness Datuk Shahrol Azral Ibrahim Halmi in the 1Malaysia Development Bhd (1MDB) trial.|Read more >|TheStar

Oct 29, 2019 Ex-1MDB CEO claims would have quit if could go back in time

Datuk Shahrol Azral Ibrahim Halmi today said he would have resigned as chief executive of 1Malaysia Development Berhad (1MDB) if he could revisit the opportunity.|Read more >|Malaymail

Oct 24, 2019 Former 1MDB CEO: 'We only did internet search on PetroSaudi asset

1Malaysia Development Bhd (1MDB) happily gave away US$1 billion to its joint venture partner, which had made grandiose claims of owning billions of dollars worth of assets, by relying mainly on Google search to verify its background.|Read more >|NST

Oct 24, 2019 Jho Low was advising 1MDB, Najib and PetroSaudi at the same time, court told

Fugitive financier Low Taek Jho was in direct conflict of interest with 1Malaysia Development Berhad (1MDB) as he was also advising PetroSaudi International (PSI) in 2009, the trial’s defence lawyer suggested at the High Court today.|Read more >|Malaymail

Oct 24, 2019 Ex-CEO: 1MDB like ‘fools’, gave US$1b when partner only put in US$108m of US$1.5b promised

1Malaysia Development Berhad (1MDB) was like a fool when it injected US$1 billion into a joint venture, while its Cayman Island-based joint venture partner only put in US$108 million worth of assets instead of the full US$1.5 billion assets into the joint venture, the High Court heard today.|Read more >|Malaymail

Oct 24, 2019 1MDB BOD not informed about US$700m loan in JV with PSI

The High Court was today told that 1Malaysia Development Berhad (1MDB) board of directors (BOD) was not informed about the US$700 million (RM2.93 billion) debt by its joint-venture company 1MDB-PetroSaudi Ltd upon the signing of the joint venture with PetroSaudi International Ltd (PSI).|Read more >|SunDaily

 

Oct 24, 2019 1MDB was Najib, Najib was 1MDB, says witness

Former chief executive officer of state-owned sovereign wealth fund 1Malaysia Development Berhad (1MDB) today described that the “1MDB was Datuk Seri Najib, Datuk Seri Najib was 1MDB”.|Read more >|SunDaily

Oct 24, 2019 Former 1MDB CEO and defence in war of words over meaning of 'fiduciary'

A key witness in the 1Malaysia Development Bhd (1MDB) trial got into a war of words with the defence over the word "fiduciary" relating to his role in the sovereign wealth fund.|Read more >|TheStar

 

Oct 21, 2019 1MDB scandal: Court hears how US$700 million was paid for US$1 company

The former chief executive of 1Malaysia Development Bhd (1MDB) today gave further insights on how the sovereign wealth fund was run, including his mindset of doing things in Team Najib while managing affairs.|Read more >|NST

Oct 21, 2019 1MDB ex-CEO thought he could decide US$700m transfer without consulting the board

Datuk Shahrol Azral Ibrahim Halmi today said he believed that he had the power to proceed with 1Malaysia Development Berhad’s (1MDB) US$700 million (RM2.9 billion) transfer out without consulting the 1MDB board about this September 2009 transaction that had come up on short notice.|Read more >|Malaymail

Oct 21, 2019 Signing ceremony between 1MDB and PSI JV never happened

The signing ceremony of the joint-venture (JV) project between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) never happened, the High Court heard today.|Read more >|SunDaily

Oct 21, 2019 I was discouraged from being a 'busybody', says former 1MDB CEO

A witness told the High Court here that he was discouraged from being a “busybody” on matters pertaining to 1Malaysia Development Berhad (1MDB).|Read more >|TheStar

Oct 17, 2019 “I sign because Najib signed” says former 1MDB CEO over minutes of meeting

1Malaysia Development Berhad (1MDB) former chief executive officer told the High Court today he signed the minutes of meeting in relation to one 1MDB meeting because it was first signed by Datuk Seri Najib Abdul Razak.|Read more >|SunDaily

Oct 17, 2019 Decision power shift in 1MDB proposed by Jho Low - Witness

It was fugitive businessman Low Taek Jho (Jho Low) who proposed for Article 117 to be inserted into 1Malaysia Development Berhad (1MDB)’s Memorandum and Articles of Association (M&A), the High Court was told on Thursday (Oct 17).|Read more >|TheStar

Oct 17, 2019 Shahrol signed minutes knowing it was untruthful

A former 1Malaysia Development Bhd (1MDB) CEO admitted to signing a meeting minutes in 2011 despite knowing it was untruthful, the High Court heard.|Read more >|TheStar

Oct 17, 2019 Najib was made the ‘Emperor of 1MDB’, court told

Former Prime Minister Datuk Seri Najib Abdul Razak was made the “Emperor of 1MDB”, the High Court was told yesterday.|Read more >|SunDaily

Oct 17, 2019 Decision power shift in 1MDB proposed by Jho Low: Witness

It was fugitive businessman Low Teak Jho (Jho Low) who proposed for Article 117 to be inserted into 1Malaysia Development Berhad (1MDB)’s Memorandum and Articles of Association (M&A), the High Court was today told.|Read more >|SunDaily

Oct 16, 2019 JV signed with wrong firm

The names of two companies carried the word “PetroSaudi”. But they were two different entities and 1Malaysia Development Bhd (1MDB) inked the deal with the wrong one, the High Court heard.|Read more >|TheStar

 

Oct 16, 2019 Former 1MDB CEO signed away US$1 billion without checking, court told

The 1Malaysia Development Bhd (1MDB) management literally gave a loaded gun to PetroSaudi International Ltd (PSI) to be held against its own head when it signed a joint venture agreement (jva) with the company, the High Court heard today.|Read more >|NST

Oct 16, 2019 Ex-1MDB CEO agrees with defence that Najib could have been manipulated in Jho Low’s ‘orchestra’

There is a “possibility” that former Prime Minister Datuk Seri Najib Razak was unknowingly manipulated by fugitive financier Low Taek Jho, the High Court heard today.|Read more >|Malaymail

Oct 16, 2019 Najib's phone call not to be recorded in minutes of meeting

The High Court was told that 1Malaysia Development Bhd's (1MDB) former director and chairman Tan Sri Mohd Bakke Salleh instructed that a telephone call between him and Datuk Seri Najib Tun Razak should not be recored during a 1MDB-PetroSaudi International Ltd (PSI) joint-venture (JV) meeting in 2009.|Read more >|TheStar

Oct 16, 2019 Under fire for ‘hurried’ 1MDB-PSI deal, ex-CEO says wasn’t rushed ‘for fun’

The joint venture between 1MDB and PetroSaudi International (PSI) had to be expedited to coincide with the visit Saudi Arabia’s Crown Prince to Malaysia then, Datuk Shahrol Azral Ibrahim Halmi told the High Court today.|Read more >|Malaymail

Oct 16, 2019 Ex-1MDB CEO admits signing US$1bil agreement for PetroSaudi Cayman instead of PetroSaudi International

The High Court was told that 1Malaysia Development Bhd (1MDB) signed a joint venture (JV) agreement with PetroSaudi Holdings (Cayman) Ltd and not PetroSaudi International (PSI), which it had been in talks with.|Read more >|TheStar

Oct 14, 2019 Federal auditors would have sniffed out money transfers to Good Star with access to 1MDB books, court told

The Auditor General and the National Audit Department (NAD) could have detected the USD700 million transfers from 1Malaysia Development Berhad (1MDB) to Good Star Limited has they been granted access to the sovereign wealth fund’s accounts, the High Court heard today.|Read more >|Malaymail

Oct 14, 2019 ‘Content of letter came from Low’

An audit on sovereign wealth fund 1Malaysia Development Bhd (1MDB) would have revealed the trouble it was in.|Read more >|TheStar

Oct 14, 2019 1MDB trial: I messaged Najib on his birthday, not to double-check on instructions, say witness

Former 1Malaysia Development Bhd (1MDB) CEO’s handphone number is listed in Datuk Seri Najib Razak’s contacts, but the communication between the two were few and far between, the High Court heard.|Read more >|TheStar

Najib's 1MDB Trial from Day 1 >

New Malaysia | Najib's 1MDB Trial  |

In the News Snippets & Links 

Oct 10, 2019 From 'consigliere' to 'soprammobile', 1MDB trial 'goes Italian Mafia'

It was yet another thrilling day at the High Court here today when a group of “makcik” (aunties) turned up to support Datuk Seri Najib Razak only to hear insinuations that their hero had acted like a mob boss by relying on a “consigliere” in the 1Malaysia Development Bhd (1MDB) scandal.|Read more >|NST

Oct 10, 2019 1MDB trial: Ex-CEO says Jho Low chose, but Najib signed appointment letters for Louis Vuitton boss, others as advisers

Datuk Seri Najib Razak personally signed the letters of appointment for famous personalities such as luxury fashion brand Louis Vuitton’s boss Bernard Arnault to act as international advisers for 1Malaysia Development Berhad (1MDB) predecessor Terengganu Investment Authority (TIA) Berhad, the company’s former CEO said today.|Read more >|Malaymail

Oct 10, 2019 Najib agreed to federalisation of TIA, court told

The High Court here today was told that Datuk Seri Najib Abdul Razak agreed to Terengganu Investment Authority Berhad (TIA), which was later renamed as 1Malaysia Development Berhad (1MDB) being taken over by the federal government.|Read more >|SunDaily

Oct 09 2019 RM5 billion bonds: Malaysians suffered losses while Jho Low-linked company benefited

State-owned sovereign wealth fund, 1Malaysia Development Berhad (1MDB), Social Security Organisation (Socso) and Malaysians suffered losses from the RM5 billion bonds in Islamic medium term notes (IMTN) issued by Terengganu Investment Authority Berhad (TIA).|Read more >|SunDaily

 

Oct 09, 2019 Witness: Najib's face neutral on hearing Sultan Mizan angry over RM5bil TIA bond

The High Court here heard on Wednesday (Oct 9) that Datuk Seri Najib Tun Razak's facial expression was neutral when he was told that the then Yang Di-Pertuan Agong Sultan Mizan Zainal Abidin was angry over the Terengganu Investment Authority Bhd's (TIA) RM5bil bonds issuance.|Read more >|TheStar

Oct 09, 2019 AmBank ‘purposely’ excluded Jho Low’s firms as bondholders, 1MDB trial told

The corruption trial of Datuk Seri Najib Razak today heard that public-listed AmBank Group deliberately withheld information that several companies linked to Low Taek Jho were bondholders to the Terengganu Investment Authority (TIA), the predecessor to 1Malaysia Development Berhad (1MDB).|Read more >|Malaymail

Oct 09, 2019 Shafee: Malaysians were screwed over twice by Jho Low-Ambank conspiracy

Local banking group AmBank found itself dragged into the 1Malaysia Development Berhad (1MDB) mess after it was revealed that someone from the bank may have conspired with Low Taek Jho @ Jho Low to rip off the sovereign wealth fund.|Read more >|NST

Oct 08 2019 1MDB: No chance to inform Sultan of financial inexperience, says witness

Former chief executive officer (CEO) of 1Malaysia Development Berhad (1MDB) told the High Court today that he had no opportunity to tell the then Yang Di-Pertuan Agong Sultan Mizan Zainal Abidin that he had no experience in financial matters.|Read more >|SunDaily

 

Oct 08, 2019 Witness agrees that Jho Low placed ‘people around him’ in TIA

Fugitive financier Low Taek Jho (pic) brought in several “people around him” into the Terengganu Investment Authority (TIA), which was later known as 1Malaysia Development Bhd (1MDB), the High Court heard.|Read more >|TheStar

Oct 08, 2019 1MDB trial: Jho Low’s father mentioned in secret RM500m profit in 1MDB predecessor's bond-flipping

Low Taek Jho’s father is linked to the fugitive businessman’s 2009 infamous success in making almost RM500 million in “secret profits” by flipping bonds issued by 1Malaysia Development Berhad predecessor Terengganu Investment Authority Berhad (TIA), the High Court heard today. |Read more >|Malaymail

Oct 08, 2019 Ambank accused of conspiring with Jho Low

It has become routine to hear about fugitive businessman Low Taek Jho’s daily during the ongoing 1Malaysia Development Bhd (1MDB) trial, but more names were dragged through the mud today as the case unfolded.|Read more >|NST

Oct 08 2019 1MDB: Jho Low installed his cronies into TIA, says witness

The former chief executive officer of state-owned sovereign wealth fund, 1Malaysia Development Berhad (1MDB), told the High Court here today that fugitive businessman Jho Low had brought his cronies into Terengganu Investment Authority Berhad (TIA), which later became 1MDB.|Read more >|SunDaily

Oct 08, 2019 1MDB ex-CEO says can’t recognise Jho Low’s signature despite working together for years

Datuk Shahrol Azral Ibrahim Halmi today confirmed that he could not recognise fugitive financier Low Taek Jho’s signature despite having worked with the man for several years, the High Court heard today.|Read more >|Malaymail

Oct 08, 2019 Jho Low not paid a single sen for his role in TIA & 1MDB, court told

Low Taek Jho @ Jho Low, who is accused of being the brains behind the 1Malaysia Development Bhd (1MDB) scandal which cost the country billions of ringgit in losses, was not paid a single sen for his advisory roles.|Read more >|NST

Oct 07, 2019 Najib's 1MDB trial: Former CEO denies owning shell companies, receiving US$1mil from disgraced banker

Former 1Malaysia Development Bhd (1MDB) CEO Datuk Shahrol Azral Ibrahim Halmi has denied being an owner of shell companies or that he received US$1mil (RM4.19mil) from disgraced Goldman Sachs banker Tim Leissner.|Read more >|TheStar

Oct 07, 2019 1MDB ex-CEO claims telling truth in Najib's trial, not threatened with lawsuits

A witness today declared in court that he has no need to fear repercussions from testifying against former prime minister Datuk Seri Najib Razak as he is telling the truth.|Read more >|Malaymail

Oct 07, 2019 Ex-1MDB CEO says travel ban to stop him from disappearing

The former chief executive officer (CEO) of 1Malaysia Development Bhd (1MDB) said he had been barred from travelling abroad to prevent him from disappearing.|Read more >|NST

Oct 07, 2019 1MDB trial: Ex-CEO says trusted Najib despite being questioned by PAC in 2015

Datuk Shahrol Azral Ibrahim Halmi told the High Court today that he remained trusting of Datuk Seri Najib Razak even when the Public Accounts Committee (PAC) in 2015 urged authorities to investigate him for alleged mismanagement of 1Malaysia Development Berhad (1MDB).|Read more >|Malaymail

Oct 07, 2019 Jho Low wanted all emails, BBM chats deleted to protect ‘Boss PM”: Witness

Former chief executive officer of 1Malaysia Development Berhad (1MDB) Datuk Shahrol Azral Ibrahim Halmi told the High Court here today he received instructions from fugitive businessman Low Taek Jho or Jho Low to delete communications between them to protect “The Boss”.|Read more >|SunDaily

Oct 06, 2019 Highlights of Najib’s 1MDB trial Sept 30-Oct 1

More scandals involving 1Malaysia Development Berhad (1MDB) were uncovered at Datuk Seri Najib Razak’s trial this week, such as alleged siphoning of funds into joint ventures purportedly for the purpose of raising funds for the 13th general election (GE13).|Read more >|Malaymail

Oct 07, 2019 | 1MDB ex-CEO becomes suspicious of Jho Low when probe begins

Former chief executive officer of 1Malaysia Development Berhad (1MDB), Datuk Shahrol Azral Ibrahim Halmi (pix) told the High Court here today that he became suspicious of the fugitive businessman Low Taek Jho or Jho Low after the authorities started investigating the 1MDB case in 2015.|Read more >|SunDaily

Oct 01, 2019 1MDB trial: Witness says received RM160,000 bonus for joining fund’s predecessor, quizzed if CEO like postman

Datuk Shahrol Azral Ibrahim Halmi today told the court he had taken a two-month bonus totalling RM160,000 for signing on in March 2009 to join 1Malaysia Development Berhad’s (1MDB) predecessor Terengganu Investment Authority Berhad (TIA) as CEO.|Read more >|Malaymail

Oct 07, 2019 | Idea of TIA that morphed into 1MDB mooted in Abu Dhabi, court told

The High Court heard today that the idea of the Terengganu Investment Authority Berhad (TIA), which morphed into 1Malaysia Development Berhad, was mooted in Abu Dhabi.|Read more >|SunDaily

Oct 07, 2019 Former 1MDB CEO did not blame Najib over scandal, court hears

A witness told the High Court that he did not blame former prime minister Datuk Seri Najib Razak over the scandal involving 1Malaysia Development Berhad (1MDB).|Read more >|TheStar

Najib's 1MDB Trial from Day 1 >

New Malaysia | Najib's SRC Trial |

In the News Snippets & Links

Dec 10, 2019 Najib files suit against AmBank, former staff for mismanaging his accounts

Datuk Seri Najib Razak has filed a lawsuit against AmBank Islamic Berhad and its former relation manager Joanna Yu Ging Ping for alleged mismanagement of the former’s bank accounts which are being scrutinised in the ongoing SRC International Sdn Bhd corruption hearing.|Read more >|SunDaily

 

Dec 102019 SRC trial: Najib says sacked Muhyiddin, Shafie Apdal over public criticism of 1MDB

Datuk Seri Najib Razak testified in court today that he removed Tan Sri Muhyiddin Yassin and Datuk Seri Shafie Apdal from his Cabinet in 2015 as they were openly critical of his administration’s handling of 1MDB.|Read more >|Malaymail

 

Dec 10, 2019 SRC International trial: Najib unsure whether signatures on documents were his

Datuk Seri Najib Razak said that he could not confirm the authenticity of the documents shown to him by the Malaysian Anti-Corruption Commission (MACC) during their investigations of him, the High Court heard on Tuesday (Dec 10).|Read more >|TheStar

Dec 102019 Najib says 2014 golf game with Obama in Hawaii to form rapport with ‘most powerful man on Earth’

On trial for power abuse, Datuk Seri Najib Razak today justified going golfing with then US president Barack Obama in December 2014 as a chance for him to establish close ties with the world’s most powerful man.|Read more >|Malaymail

 

Dec 09, 2019 Najib bought watch worth RM466,330 for wife in December 2014

Former Prime Minister Datuk Seri Najib Abdul Razak (pix) told the High Court here today that he gave his wife, Datin Seri Rosmah Mansor, a watch, priced at RM466,330.11, for her birthday in December 2014.|Read more >|SunDaily

 

Dec 09, 2019 In SRC trial, Najib tells court he didn’t know Jho Low worked with bank to manage his accounts

Datuk Seri Najib Razak told the High Court today that he was unaware AmBank was liaising with Low Taek Jho to manage his accounts.|Read more >|Malaymail

 

Dec 09, 2019 Najib: I never checked, because the money came after I spoke to King Abdullah

Datuk Seri Najib Razak said he never bothered to check with Wisma Putra on the authenticity of the so-called ‘donation’ from King Abdullah Abdulaziz Al Saud of Saudi Arabia which was transferred to his private bank accounts.|Read more >|NST

Dec 09, 2019 Najib defends spending RM3.2mil to buy gifts for Qatari PM

Datuk Seri Najib Razak today defended his credit card spending, which he claimed had been sensationalised, during his ongoing trial.|Read more >|NST

Dec 04, 2019 Najib: 'Nik Faisal played us out'

The former chief executive (CEO) of SRC International Sdn Bhd, Nik Faisal Ariff Kamil, “played both sides”, leading to the company being ripped off, Datuk Seri Najib Razak said today.|Read more >|NST

 

Dec 04, 2019 RM3.2b deposited into Najib’s account between 2011 and 2013, court told

A total of US$1.05 billion (RM3.2 billion) from Saudi Arabia was deposited into the personal AmBank account of former prime minister Datuk Seri Najib Abdul Razak between 2011 and 2013, the High Court was told today.|Read more >|SunDaily

Dec 04, 2019 Najib at SRC trial: Late Saudi monarch donated the money to ensure M'sia's stability

The donation from Saudi Arabia's late King Abdullah Al Saud, was to ensure that Malaysia can become the model of a stable and modern Islamic country, Datuk Seri Najib Razak told the High Court here.|Read more >|TheStar

Dec 04, 2019 SRC trial: Najib denies authorising Jho Low to deal with AmBank account 694

Datuk Seri Najib Razak has never authorised fugitive financier Low Taek Jho, known as Jho Low, to deal with AmBank regarding one of his bank accounts, the High Court heard.|Read more >|TheStar

 

Dec 04, 2019 SRC trial: Najib paints Nik Faisal as mastermind

SRC International Sdn Bhd chief executive Nik Faisal Ariff Kamil was duplicitous in managing SRC International Sdn Bhd, Datuk Seri Najib Razak testified in his defence at the High Court today.|Read more >|Malaymail

 

Dec 04, 2019 Najib talks about Jho Low and Arab donations

Datuk Seri Najib Razak finally touched on his relationship with fugitive businessmen, Low Taek Jho @ Jho Low and events leading up to the billions in donation from King Abdullah Abdulaziz Al Saud of Saudi Arabia, which ended up in his private banking accounts.|Read more >|NST

Dec 04, 2019 Najib: Ahmad Husni's 'office boy' claim is comedic

Datuk Seri Ahmad Husni Hanadzlah's role was as Finance Minister II and he was never just an "office boy", the High Court was told.|Read more >|TheStar

Dec 04, 2019 Najib: Jho Low suggested I open AmBank accounts for Arab donations

The idea to open accounts with AmBank in 2010 came from Low Taek Jho, Datuk Seri Najib Razak told the High Court today in his RM42 million SRC International Sdn Bhd trial.|Read more >|Malaymail

 

Dec 04, 2019 SRC trial: Najib says never offered advice to board, rarely asked for it

Datuk Seri Najib Razak said the SRC International Sdn Bhd board rarely asked for his advice and he did not habitually offer them any as the company’s “adviser emeritus”, the High Court heard today.|Read more >|Malaymail

Dec 03, 2019 SRC trial: Najib agreed to 1MDB-endorsed appointees of Ismee and Nik Faisal in SRC International

Datuk Seri Najib Razak said he had agreed to the appointments of Tan Sri Ismee Ismail and Nik Faisal Ariff Kamil in SRC International Sdn Bhd as they were selected by 1Malaysia Development Berhad (1MDB), the High Court heard today.|Read more >|Malaymail

Dec 03, 2019 Najib denies ‘veiled direction’

Former prime minister Datuk Seri Najib Razak has denied giving Retirement Fund Inc (KWAP) a “veiled direction” to double an approved loan to SRC International Sdn Bhd.|Read more >|TheStar

Dec 03, 2019 Shafee: Najib was deliberately misled about SRC transactions

Datuk Seri Najib Razak had been misled regarding the transactions and balances of his bank accounts, which were manipulated by third parties without his knowledge and approval, according to his lawyer.|Read more >|TheStar

Dec 03, 2019 Shafee: 'Najib acted in the best interest of the govt and never misused his office'

Tan Sri Muhammad Shafee Abdullah today laid out the line of defence that Datuk Seri Najib Razak intends to take in clearing his name against charges of abusing SRC International funds.|Read more >|NST

Dec 03, 2019 SRC trial: Najib said unaware of SRC International’s initial RM3.95b loan application plan to KWAP

Datuk Seri Najib Razak said he was unaware of SRC International Sdn Bhd’s initial plan to apply for a RM3.95 billion loan from the Retirement Fund Incorporated (KWAP) in 2011, while testifying at the High Court today.|Read more >|Malaymail

Dec 03, 2019 SRC trial: Najib denies having direct hand in creating former 1MDB unit

Former prime minister Datuk Seri Najib Razak denied explicit involvement in the formation of SRC International Sdn Bhd, while testifying in his defence today.|Read more >|Malaymail

Dec 03, 2019 Najib says had impression Jho Low was ‘influential’, could make 1MDB’s goals come true

Flamboyant businessman Low Taek Jho gave the impression he was a person of influence with close ties to Malaysian royalty and high-ranking persons in Middle Eastern countries, Datuk Seri Najib Razak said in his defence today.|Read more >|Malaymail

 

Dec 03, 2019 Najib's accounts manipulated by third parties, defence says

Datuk Seri Najib Razak, who is accused of the misappropriation of RM42mil in SRC International Sdn Bhd funds, had been misrepresented about the transactions and actual balances in his accounts, which were manipulated by third parties without his knowledge and approval.|Read more >|TheStar

Dec 02, 2019 Najib says had impression Jho Low was ‘influential’, could make 1MDB’s goals come true

Tomorrow, for the first time in Malaysia’s history, a former Prime Minister will take the stand to answer charges against him in a court of law.|Read more >|NST

New Malaysia | Najib's 1MDB Trial  |

In the News Snippets & Links 

Oct 06, 2019 Highlights of Najib’s 1MDB trial Sept 30-Oct 1

More scandals involving 1Malaysia Development Berhad (1MDB) were uncovered at Datuk Seri Najib Razak’s trial this week, such as alleged siphoning of funds into joint ventures purportedly for the purpose of raising funds for the 13th general election (GE13).|Read more >|Malaymail

Oct 01, 2019 Former 1MDB CEO's last drawn salary was RM99,000 per month

The 1Malaysia Development Bhd (1MDB) may have ended up billions of ringgit in debt but it was definately not a stingy employer when it came to taking care of its top bosses.|Read more >|NST

Oct 01, 2019 | 1MDB’s RM30 billion debt fully borne by MoF, government: Witness

1Malaysia Development Berhad (1MDB) had accumulated a total debt of RM30 billion, and it was fully borne by the Ministry of Finance (MoF) and the federal government, the High Court was told today.|Read more >|SunDaily

Oct 01, 2019 PMO orders were to skip town to avoid PAC inquiry, ex-1MDB CEO tells court

Datuk Shahrol Azral Ibrahim Halmi told the High Court today that he received instructions, believed to have come from the Prime Minister’s Office (PMO), to leave the country in 2015 so that he would not have to face a bipartisan parliamentary investigation into the scandal-tainted 1Malaysia Development Berhad (1MDB).|Read more >|Malaymail

Oct 01, 2019 | 1MDB GIL-Admic JV finalised in two months: Witness

The joint venture between 1Malaysia Development Berhad Global Investments Limited (1MDB GIL) and the US$6 billion (RM25.17 billion) Abu Dhabi Malaysia Investment Company (Admic) was finalised in two months, the High Court was told today.|Read more >|SunDaily

Oct 01, 2019 1MDB-Aabar joint venture fell through despite US$3bil in bonds issued, court hears

The joint venture (JV) between 1Malaysia Development Bhd (1MDB) and Aabar Investment PJS in 2013 fell through despite the issuance of US$3bil in bonds, the High Court here heard.|Read more >|TheStar

Oct 01, 2019 1MDB trial: Ex-CEO says joint venture with Aabar Investment a bust

The much-touted US$6 billion (RM25.1 billion) joint venture between Abu Dhabi’s Aabar Investment PJS and 1Malaysia Development Berhad (1MDB) proved to be a bust when the entity formed to manage the Malaysian sovereign investment fund went inactive, Datuk Shahrol Azral Ibrahim Halmi told the High Court today.|Read more >|Malaymail

Oct 01, 2019 PAC hearings on 1MDB were a farce, court told

The Public Accounts Committee (PAC) hearings on the 1Malaysia Development Bhd (1MDB) fiasco in 2010 and 2015 were nothing short of a farce, it was revealed in the High Court today.|Read more >|NST

Oct 01, 2019 1MDB trial: RM18bil 1MDB-Aabar JV was Najib’s ‘baby’

The High Court here has been told that former prime minister Datuk Seri Najib Razak had an “interest” in the RM18bil joint venture (JV) agreement between 1Malaysia Development Bhd (1MDB) and the subsidiary of International Petroleum Investment Co, Aabar Investment PJS.|Read more >|TheStar

Oct 01, 2019 | 1MDB Gil issued RM12b in bonds with support from Najib: Witness

The High Court here today was told that 1Malaysia Development Berhad Global Investments Limited (1MDB GIL) had issued US$3 billion (RM12 billion) in bonds with support from former prime minister Datuk Seri Najib Tun Razak (pix) to Abu Dhabi-Malaysia Investment Company (Admic) despite the company was not in operation.|Read more >|SunDaily

Oct 01, 2019 Ex-1MDB CEO says removed from post due to ‘discomfort’ over speedy money transactions

Datuk Shahrol Azral Ibrahim Halmi, a former chief executive of scandal-riddled 1Malaysia Development Berhad (1MDB), told the High Court today that his removal from the position came after voicing concerns over the unreasonably rapid transactions involving up to billions of ringgit.|Read more >|Malaymail

Oct 01, 2019 | Jho Low controlled 1MDB from behind: Witness

The High Court here was told that fugitive businessman Low Taek Jho or Jho Low controlled 1Malaysia Development Berhad (1MDB) “from behind” to execute former prime minister Datuk Seri Najib Abdul Razak’s (pix) directives.|Read more >|SunDaily

Oct 01, 2019 US$1.367b lost in Jho Low-linked switcheroo: How fake company escaped 1MDB ex-CEO’s eyes

1Malaysia Development Berhad (1MDB) lost a total of US$1.367 billion (RM5.72 billion) in deposits to a fake British Virgin Islands company named Aabar Investments PJS Limited while raising funds in two quick-fire deals handled by businessman Low Taek Low’s associates, 1MDB’s former CEO told the court yesterday.|Read more >|Malaymail

Oct 01, 2019 Najib ‘bulldozed’ his way

Datuk Seri Najib Razak “bulldozed” his way for a ministerial letter to support the issuance of US$3bil (RM12.6bil) in bonds for a joint venture (JV) between 1MDB and Aabar Investment PJS, the High Court heard.|Read more >|TheStar

Oct 01, 2019 Former 1MDB CEO reveals how money ended up in fake Aabar account, and more

Former 1Malaysia Development Bhd (1MDB) chief executive officer today revealed how the Goldman Sachs Group hit pay dirt following its involvement in the issuance of bonds for the sovereign wealth fund.|Read more >|NST

Oct 01, 2019 | Najib signed approval for 1MDB-Aabar JV in TRX project

The High Court here yesterday was told that Datuk Seri Najib Abdul Razak had signed the Directors’ Circular Resolution (DCR) and Special Rights Redeemable Preference (SRRP) which gives a win-win situation for a joint-venture between 1Malaysia Development Berhad (1MDB) and Aabar Investment PJS Limited (Aabar) in the Tun Razak Exchange (TRX) development project.|Read more >|SunDaily

Sep 30, 2019 | Over US$790m excess security deposit to Aabar was fraudulent: Witness

An excess of US$790,354,855.00 (approx. RM3.31 billion) in security deposit paid to Aabar Investment PJS Ltd (Aabar) by 1Malaysia Development Berhad (1MDB) was credited into the account of Datuk Seri Najib Abdul Razak fraudulently.|Read more >|SunDaily

Sep 30, 2019 | Najib’s actions tallied perfectly with Jho Low’s talking points: Former 1MDB CEO

Former 1Malaysia Development Berhad (1MDB) chief executive officer believed that fugitive businessman Low Taek Jho or Jho Low, was mandated by Datuk Seri Najib Abdul Razak (pix) to orchestrate all of the company’s bonds issuance and International Petroleum Investment Co (IPIC) guarantee as the actions taken by the former premier corresponded with the talking points sent to him by Jho Low.|Read more >|SunDaily

Sep 30, 2019 | Ex-1MDB CEO: Genting Sanyen acquisition process executed after approval by Najib

The process of acquiring independent power producer Genting Sanyen (M) Sdn Bhd, was executed by 1Malaysia Development Berhad (1MDB) after approval was received from former prime minister Datuk Seri Najib Abdul Razak, in his capacity as Finance Minister, representing MoF Inc in 2012.|Read more >|SunDaily

Sep 30, 2019 Citing Jho Low, 1MDB ex-CEO says firm’s fund-raising efforts linked to GE13

The US$3 billion which was raised by 1Malaysia Development Berhad (1MDB) for the joint venture with Aabar Investments PJS could have been linked to the 13th general elections (GE13), Datuk Shahrol Azral Ibrahim Halimi told the High Court today.|Read more >|Malaymail

Sep 30, 2019 | Jho Low arranged security deposit payment of RM2.4b to Aabar for misappropriation

The High Court here was told today that fugitive businessman, Low Taek Jho or Jho Low had arranged for the security deposit payment of US$576,943,490 to Aabar Investments PJS (Aabar) for the takeover of Tanjong Energy Holdings Sdn Bhd (TEHSB) for the purpose of misappropriation.|Read more >|SunDaily

Sep 30, 2019 | 1MDB not allowed to engage in loan agreement without Najib’s approval: Witness

The High Court here was today told that the 1Malaysia Development Berhad (1MDB) could no longer engage any more loan agreements after May 2009 without Datuk Seri Najib Abdul Razak’s approval.|Read more >|SunDaily

Sep 30, 2019 1MDB trial: Witness assumed payment to Aabar agreed by Najib

Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi told the High Court here on Monday (Sept 30) that he had never questioned who decided on the total of US$576,943,490 (RM2.4bil) in security deposit payment to Aabar Investment PJS Ltd as he had assumed that it was agreed upon by Datuk Seri Najib Tun Razak.|Read more >|TheStar

Sep 30, 2019 Jho Low's idea to engage Goldman Sachs to advise 1MDB, court told

It was fugitive financier Low Taek Jho’s idea to engage American finance services company Goldman Sachs as the financial advisor for 1Malaysia Development Bhd (1MDB), the High Court heard.|Read more >|TheStar

Sep 30, 2019 1MDB trial: Najib approved proposal for RM7.3bil bridging loan, witness tells court

Former prime minister Datuk Seri Najib Razak had approved the proposal for a US$1.75bil (RM7.3bil) bridging loan through the issuance of 10-year structured notes for the takeover of Tanjong Energy Holding Sdn Bhd (TEHSB).|Read more >|TheStar

Najib's 1MDB Trial from Day 1 >

New Malaysia | Najib's 1MDB Trial  |

In the News Snippets & Links 

Sep 23, 2019 Najib's lawyer in 1MDB trial: Get Jho Low here so he can be quizzed

The Malaysian authorities should recover fugitive businessman Low Taek Jho in order to question him regarding the 1Malaysia Development Berhad (1MDB) fiasco instead of having witnesses tell the court what he had said, a lawyer said today.|Read more >|Malaymail

Sep 24, 2019 TIA took RM70,000 loan from Jho Low to increase share capital

Terengganu Investment Authority (TIA) had taken a RM70,000 loan from fugitive businessman Low Taek Jho or Jho Low in 2009 to increase its share capital to RM1 billion, the High Court heard.|Read more >|NST

Sep 24, 2019 Witness testimony on Jho Low hearsay, says Najib’s lawyer

The defence team of Datuk Seri Najib Tun Razak (pix) urged for 1Malaysia Development Berhad (1MDB)-linked fugitive businessman Low Taek Jho or Jho Low to be produced as soon as possible.|Read more >|SunDaily

Sep 23, 2019 Ex-CEO says Jho Low had direct line to Najib and his approval to steer 1MDB

Former 1MDB chief executive Datuk Shahrol Azral Ibrahim Halmi testified in court today that Datuk Seri Najib Razak was “very close” to fugitive financier Low Taek Jho.|Read more >|Malaymail

Sep 23, 2019 Court witness: Jho Low represented both Terengganu and federal governments

The former chief executive officer of state-owned sovereign wealth fund 1Malaysia Development Berhad (1MDB) Datuk Shahrol Azral Ibrahim Halmi told the High Court here today that businessman Jho Low represented both the Terengganu and federal governments.|Read more >|SunDaily

Sep 23, 2019 Jho Low had influence over 1MDB from the start, court told

The 1Malaysia Development Bhd (1MDB) trial hots up again with a key witness taking the stand recounting the early days of 1MDB – or its earlier incarnation as Terengganu Investment Authority Bhd (TIA) – and the influence fugitive financier Low Taek Jho had over it.|Read more >|TheStar

Sep 23, 2019 Jho Low could influence decisions at executive level, court told

Although he had no formal power in the administration of sovereign wealth fund Terengganu Investment Authority (TIA), Low Taek Jho or Jho Low could still influence the decisions at executive level.|Read more >|NST

Sep 22,