Najib ‘ultimate power’ in 1MDB, ex-CFO testifies
A former 1MDB chief financial officer (CFO) testified that he followed Low Taek Jho's instructions as Najib Abdul Razak was the "ultimate power" over the sovereign wealth fund.
Azmi Tahir delivered this testimony during today’s RM2.28 billion corruption trial against the former prime minister before the Kuala Lumpur High Court.
While reading out from a 127-page witness statement, the 12th prosecution witness claimed that when he was hired as...
A former 1MDB chief financial officer (CFO) testified that he followed Low Taek Jho's instructions as Najib Abdul Razak was the "ultimate power" over the sovereign wealth fund.
Azmi Tahir delivered this testimony during today’s RM2.28 billion corruption trial against the former prime minister before the Kuala Lumpur High Court.
While reading out from a 127-page witness statement, the 12th prosecution witness claimed that when he was hired as 1MDB’s CFO in 2012, Najib’s then-chief private secretary Azlin Alias introduced him to Jho Low.
He claimed Azlin introduced Low as Najib’s 1MDB advisor.
Azmi claimed that when he met Low at KLCC around June 2012, the businessperson told the witness that all directives from him (Low) and Azlin were mandates from Najib, and therefore must be abided by.
The witness claimed that he was also told by Azlin later that Low is an advisor or close person to Najib and that Low would provide information or directives that he needed to carry out as it came from the then prime minister.
Azmi claimed that during his tenure as CFO with 1MDB, Low made behind-the-scenes arrangements with the “blessing” of Najib, whereby Low and Azlin made sure only certain trusted officers followed them in a work-in-silo system.
“These directives I received from them in the form of mandate from Najib as prime minister.
“Therefore the officers in the layered system must abide by Low’s directives as each directive from him is an order from Najib and in line with Article 117 of 1MDB’s memorandum and articles of association (M&A) because each important decision needed to be under the order and approval of the prime minister.
“Najib is the person having ultimate power in making any decisions especially involving investment, financial decision and national interest,” Azmi said.
Article 117 provides that matters, such as the appointment of directors, senior management team members and other financial matters, require authorisation of then prime minister and finance minister Najib.
However, defence counsel Wan Aizuddin Wan Mohammed raised multiple objections against several parts of the witness’ testimony, on grounds of hearsay.
Under the law, hearsay is information heard about one person from another and is usually not allowed in court trials except under certain circumstances.
Wan Aizuddin said that among the hearsay evidence is Azmi’s testimony that he was told by Azlin that Low is an important advisor to Najib, among other contentions.
However, trial judge Collin Lawrence Sequerah said the court would deal with the objections during the oral submission stage of the case.
Azmi’s testimony today is similar to one delivered by ninth prosecution witness and former 1MDB CEO Shahrol Azral Ibrahim Halmi, who testified in 2019 that Najib was the “ultimate power” behind the sovereign wealth fund.
Work-in-silo
Later on during the trial, Azmi testified that among those arranged to work-in-silo in the sovereign wealth fund were himself, former 1MDB CEO Mohd Hazem Abd Rahman, Shahrol, then 1MDB chief investment officer (CIO) Vincent Koh, 1MDB’s then-general counsel (legal) Jasmine Loo, and 1MDB’s then-deputy chief financial officer Terence Geh.
He claimed that he only received parallel directives with other senior management.
“At the same time, Low told me that all duties are on a need-to-know basis, which was that we would only be informed about something and action based on the scope of my duty or to the extent of what I needed to know."
Azmi further claimed that Loo and Geh were direct proxies of Low, who were put in the system to manage and monitor all directives issued by the businessperson.
The witness also testified that he and Hazem merely received directives in silo according to their scope of duty.
The trial continues this afternoon and is scheduled also for four days beginning next Monday (Nov 15).
Najib is on trial for four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion of 1MDB’s funds.
He was also the finance minister and chairperson of 1MDB’s board of advisers. 1MDB is fully owned by the Minister of Finance Incorporated (MOF Inc).
The prosecution was conducted by deputy public prosecutor Mohamad Mustaffa P Kunyalam.
