KUALA LUMPUR: The High Court has ruled that former Prime Minister Datuk Seri Najib Razak was “wilfully blind” for failing to investigate the origins of the 1Malaysia Development Bhd (1MDB) funds.
Judge’s Statements on Financial Responsibility
Justice Collin Lawrence Sequerah, now a Court of Appeal judge, emphasized that Najib needed to investigate substantial amounts deposited. Specifically, he referred to US$681 million deposited and US$620 million returned to Najib’s account. The judge stated it was Najib’s duty to confirm whether these funds linked to illegal activity.
Implications of Najib’s Actions
“The accused’s conduct, along with the actions of receiving, using, and transferring the proceeds, allows for a reasonable inference of knowledge regarding all 21 money laundering charges,” the judge noted in his detailed 41-page summary judgment.
Charges Against Najib
Earlier, Justice Sequerah ordered Najib, 71, to present his defense against four charges. These charges involve obtaining RM2.3 billion in gratification from 1MDB funds and 21 money laundering charges related to the same money. The judge found a prima facie case for all counts.
Uncovering the Sources of Funds
Moreover, the judge found that the US$681 million came from Tanore Finance Corporation’s account at Falcon Private Bank in Singapore and transferred to Najib’s account. “Evidence shows that the accused used funds from illegal activities to pay individuals and entities, including Umno,” he explained.
Control Over Accounts
The judge also remarked that Najib had significant control over the accounts at AmIslamic Bank. He appointed Nik Faisal Ariff Kamil as a mandate holder but still claimed he was aware of the transactions and their purposes.
Testimonies Presented
Tan Sri Zeti Akhtar Aziz, the former Bank Negara governor, testified that Najib sought her assurance that he had not committed any wrongdoing. Additionally, former Ambank relationship manager Joanna Yu described Jho Low’s role in managing Najib’s account to ensure sufficient funds were available.
Tracing the Funds
Finally, Justice Sequerah explained that ACP Foo Wei Min outlined the methods used to demonstrate that the US$680 million deposited into Najib’s account came from Tanore. “This method is essential for distinguishing between clean money and illegal funds, especially in this case,” he concluded.