1MDB chose to split US$1bil, not BNM's call, says witness
PUTRAJAYA: Former chief executive officer (CEO) of Deutsche Bank Malaysia Berhad (DBMB) told the High Court here on Monday (April 21) that the decision to split a US$1bil remittance by 1Malaysia Development Berhad (1MDB) was a business decision made by the company, not something for Bank Negara Malaysia (BNM) to determine.
Raymond Yeoh Chen Seong, 62, said he called Wan Hanisah Wan Ibrahim from BNM's Foreign Exchange Administration Department to seek clarification about the transaction, which involved sending money to a joint venture with PetroSaudi International Ltd (PSI).
"During the call, I explained the updated remittance instructions. Wan Hanisah responded that it was not for BNM to decide and that it was a business decision by 1MDB," he said, adding that the call was made on a recorded line in DBMB's dealing room, with DBMB Head of Global Markets Corporate Sales, Jacqueline Ho, also on the line.
Yeoh, who was testifying as the 22nd defence witness in Datuk Seri Najib Razak's trial involving the alleged misappropriation of RM2.3bil from 1MDB, said the bank carried out the remittances after receiving verbal confirmation and instructions from 1MDB.
1MDBb was represented by the company's then CEO, Datuk Shahrol Azral Ibrahim Halmi and its former executive director of business development, Casey Tang Keng Chee.
He further said that, following the verbal confirmation from BNM and IMDB's instructions, DBMB effected the remittances as instructed.
He explained that the US$1bil was sent in two parts, namely, US$700mil went to an account at RBS Coutts, which was later found to belong to Good Star Limited, a company owned by fugitive businessman Low Taek Jho or Jho Low.
The remaining US$300mil was transferred to an account at JP Morgan.
On Oct 30 last year, Justice Datuk Collin Lawrence Sequerah ordered Najib to enter his defence after ruling that the prosecution had established a prima facie case against him.
Najib, 71, faces 25 charges, including four counts of abusing his position to accept RM2.3bil in bribes from 1MDB funds and 21 charges of money laundering involving the same amount.
The hearing continues on Tuesday (April 21). – Bernama
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