Witness: RM2.23 billion dumped in Najib’s account by companies linked to Jho Low, Prince Faisal

KUALA LUMPUR: A banker yesterday told the High Court here that a total of RM2.23 billion was deposited into Datuk Seri Najib Tun Razak’s personal account from 2011 up to 2013 by three parties, including two companies linked to fugitive businessman Low Taek Jho or Jho Low.

AmBank Private Banking Capital Market Desk Head, Yap Wai Keat, 57, said the two companies, namely Blackstone Asia Real Estate Partners and Tanore Finance Corp, have deposited a total of RM2.2 billion into the former prime minister’s account ending 694, via 11 transactions in 2012 and 2013.

He said apart from the said companies, Najib also received RM60.6 million from Prince Faisal Bin Turkey Bandar Al Saud via two transactions in February and June 2011.

The 38th prosecution witness said this when reading his witness statement during an examination-in-chief by deputy public prosecutor Mohamad Mustaffa P Kunyalam at Najib’s corruption and money laundering trial involving RM2.3 billion belonging to 1Malaysia Development Berhad (1MDB).

Yap who was involved in the quotations of foreign exchange rates for inwards or outwards remittances at that point of time said he was instructed by Najib’s AmBank relationship manager, Joanna Yu Ging Ping to assist in matters pertaining to foreign exchange under the Market Division for this account.

“The information on this incoming money was relayed by the Remittance Division to me and Najib’s relationship manager that is Joanna Yu to enable her to inform the client that there was incoming money flowing into Najib’s account. Joanna Yu instructed me to execute the conversion of money from USD to MYR after she had obtained approval from the client (Najib).

Subsequent to that, my department did the necessary by entering relevant data into a system called MUREX where conversion was done in accordance with the agreed rate as per contract.

“Then, my department contacted the Remittance Division and informed them of the contract number and the exchange rate.

“With regards to this particular transaction, my department acted upon instructions as directed to me by Joanna Yu after she had received instructions from the client,” he explained.

Najib, 69, faces four charges of using his position to obtain bribes amounting to RM2.3 billion of 1MDB funds and 21 charges of money laundering involving the same amount.

The trial before Judge Datuk Collin Lawrence Sequerah continues today.