PUTRAJAYA, Dec 26 – Former prime minister Datuk Seri Najib Razak was the apex decision maker in the troubled state fund 1Malaysia Development Bhd (1MDB).
In delivering his final verdict in the 1MDB-Tanore trial, presiding judge Datuk Collin Lawrence Sequerah ruled that based on the evidence before him, fugitive businessman Low Taek Jho (Jho Low) was merely the ex-PM’s “conduit” or proxy.
“The bond and connection between the accused and Jho Low as testified [by prosecution witness, Jasmine Loo] show that Jho Low operated as ‘a go between’, between the accused and the running of the affairs of 1MDB.
“[…] Instructions clearly reflected the directions of the accused in respect of the operations of 1MDB,” the judge said.
Najib has often claimed that Jho Low had colluded with management to hoodwink him, while plundering the state-owned strategic development firm.
The prosecution has always maintained that Jho Low was Najib’s mirror-image.
The late Datuk Seri Gopal Sri Ram, who led the prosecution before his untimely passing, said:
“In truth, Jho Low was the accused’s mirror image. The prosecution will establish facts which will give rise to an irresistible inference that Jho Low and the accused acted as one at all material times,” he had said.
On Friday, Sequerah said that prosecution witnesses like former 1MDB chief executive officers (CEO) Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, and former chief financial officer (CFO) Azmi Tahir, had testified that Jho Low had acted as the unofficial voice of the accused in 1MDB, and also as Najib’s adviser when he was PM.
The judge added that former 1MDB chairman Tan Sri Mohd Bakke Salleh had also testified that based on his recollection of events, Jho Low acted as a conduit for Najib.
“The phone call with Najib wanting to conclude the PetroSaudi International (PSI) deal… to conclude a government-to-government project. Jho Low acted as a conduit for Najib, and he acted under the instructions of the accused,” the judge said.
The phone call refers to the one made before a board meeting concerning the 1MDB-PSI joint venture (JV) in 2009, where the ex-PM had told Bakke to forget about past issues and to “firm-up” a decision on the JV. Bakke testified that to his mind, this was a direction to expedite the JV, which was subsequently approved.
The JV allocated US$1 billion on 1MDB’s portion of the deal. However, the sum of US$700 million ended up in Good Star Ltd’s account, which was later revealed to be linked to Jho Low.
“Jho Low had maintained communications with 1MDB officers and issued instructions from the accused in 1MDB. Directions from Jho Low emanated from the accused. Jho Low was the agent of the accused,” the judge said.
Looking at the talking points issued by Jho Low to 1MDB officers, Sequerah said they were instructions issued by Jho Low and formed an official guidance from the minister of finance (also Najib).
“These are not frivolous remarks and fall squarely within the business limb, as they were routinely transmitted between the witnesses. The evidence shows the relationship — that Jho Low acted as the proxy of the accused,” the judge said.
