KUALA LUMPUR — Sept. 25, 2019: A former CEO believes that a transfer of US$700 million from 1Malaysia Development Berhad to Gold Star Limited, a company owned by fugitive businessman Low Taek Jho alias Jho Low would have shown had there been an audit.
According to Datuk Shahrol Azral Ibrahim Halmi, the sum was from the US$1 billion meant for a 1MDB-Petro Saudi joint venture.
In reply tp prosecutor Datuk Seri Gopal Sri Ram, Shahrol explained that an audit at that point in 2010 would have revealed that only US$300 million went to the joint venture.
There was however no need for an audit on 1MDB as the company had already appointed accounting firm Ernst and Young and that an audit report would be submitted to Ministry of Finance Incorporated.
Low also directed Shahrol to write to Najib to ensure that 1MDB was not audited.
Najib is facing 25 charges involving RM2.3 billion of 1MDB money from February 2011 to December 2014.
The trial before Justice Collin Lawrence Sequerah continues tomorrow. — Bernama