The Board of Directors of 1MDB passed a resolution to acquire TEHSB before seeking Najib’s approval as representative of MOF Inc, the sole shareholder of 1MDB
KUALA LUMPUR – Defence counsel for former Prime Minister, Datuk Seri Najib Razak today contended that the former premier’s endorsement of the acquisition of an independent power plant (IPP) was made much later, after the idea was initially proposed by other members of the 1Malaysia Development Berhad (1MDB) board of directors.
Debunking the allegation by the Prosecution, Najib’s counsel Wan Azwan Aiman Wan Fakhruddin said due to this fact, it was clear that the former prime minister could not have devised the scheme for his benefit.
“The idea for the acquisition of Tanjong Energy IPP came three months before Najib had greenlighted it through the Minutes of Representatives (MR) and Shareholder’s Special Resolution (SSR).
1MDB CEO Had Proposed It
“Former 1MDB chief executive officer (CEO) Datuk Shahrol Azral Ibrahim Halmi even mentioned this during his testimony in court, stating that it was a good opportunity for 1MDB to venture into the energy sector in Malaysia and allowing the sector to be managed by a government-owned company, namely 1MDB,” said Wan Azwan Aiman.
Wan Azwan Aiman made these statements while delivering his submission at the close of the prosecution’s case today before High Court Judge Datuk Collin Lawrence Sequerah.
Earlier, Najib arrived at the court in a wheelchair, following a recent hospitalisation for acute knee inflammation. He was seen walking slowly with the aid of a cane.
Justice Sequerah granted the defence’s request for Najib to sit outside the accused dock, allowing him to stretch his legs.
In his closing remarks on the second charge faced by Najib, Wan Azwan Aiman said the prosecution had failed to establish any evidence proving that Najib used his positions as Prime Minister, Minister of Finance, and Chairman of the 1MDB Board of Advisors to obtain over RM90 million from 1MDB funds for personal gain.
“Although the facts in the case differ in terms of timing and subject matter, the evidence provided by the prosecution consistently proves that Najib is not responsible for the alleged misconduct.
“There is no testimony from any witness in this case, including former 1MDB CEOs Shahrol Azral and Mohd Hazem Abd Rahman, former 1MDB Chief Financial Officer Azmi Tahir, and former 1MDB General Counsel Jasmine Loo, indicating that their actions were done to gratify Datuk Seri Najib,” he said.
He added that despite the incontrovertible evidence in the above, the Prosecution in their single-minded pursuit to prefer a charge, any charge against Najib had to change their tactics.
“Because there was no evidence that Najib directed 1MDB to submit the binding bid offer to acquire TEHSB, through which the 1MDB’s Management siphoned of money, they had to alleged that Dato’ Sri Najib approved of the same merely by his signing of P456 and P457.”
Jho Low Was Intermediary
The court was told that it is the defence position that Low Teik Jho (Jho Low) had acted as an intermediary for Goldman Sachs in relation to the acquisition of TEHSB, and not as Dato’ Sri Najib’s mirror image as alleged by the Prosecution.
He added that it was never suggested to Najib was acting through Jho Low, his supposedly “mirror-image”, it was never suggested that Najib signs all SSRs and MRs in a top-down approach and the crown jewel of it all, Najib was not even alerted to the charges already preferred against him when his statement was recorded!
Najib, 71, faces four charges of abusing his position to obtain RM2.3 billion from 1MDB funds between February 24, 2011, and December 19, 2014.
He also faces 21 charges of money laundering involving the same amount between March 22, 2013, and August 30, 2013, all of which were linked to transactions at AmIslamic Bank Berhad, Jalan Raja Chulan branch.
The charges are filed under Section 23(1) of the MACC Act 2009 and Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act.
The submission will resume tomorrow. – NMH
Datin Hasnah is the co-founder and CEO of New Malaysia Herald based in Kuala Lumpur, Malaysia.
With an extensive background in mass communication and journalism, she works on building up New Malaysia Herald and it’s partner sites. A tireless and passionate evangalist, she champions autism studies and support groups.
Datin Hasnah is also the Editor in Chief of New Malaysia Herald.
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