KUALA LUMPUR — Sept. 20, 2018: Former prime minister Datuk Seri Najib Razak today pleaded not guilty to four counts of corruption involving RM2.3 billion from 1Malaysia Development Berhad (1MDB) that was deposited into his personal bank account.
The first charge was that he, as the PM, finance minister and chairman of the 1MDB advisory board, had used his positions to obtain gratification of RM60,629,839.43 by taking four actions:
— On April 1, 2009, through a memorandum from the finance minister, Najib had obtained approval from the cabinet for the Malaysian government to be the guarantor for Terengganu Investment Authority (TIA) to secure loans of up to RM5 billion from domestic and foreign markets;
— Najib had decided that the federal government take over TIA and further caused the name TIA to be changed to 1MDB in which he had direct interest;
— On September 26, 2009, Najib ordered the 1MDB board which held a special meeting to approve a resolution to allow 1MDB to participate in a joint-venture with PetroSaudi International limited by making investments of RM1 billion;
— On May 16, 2011, Najib caused the 1MDB board to pass a circular resolution which allowed an additional investment of RM1 billion under the Murabaha financing Agreement dated March 31, 2010, to be made in 1MDB Petro Saudi Limited.
On the second count, Najib was charged with using his position to obtain gratification for himself, amountingRM90,899,927.28 while on the third count he was charged with using his position to obtain gratification for himself amounting RM2,081,476,926.
On the fourth charge, Najib was alleged to have used his position to obtain gratification of RM49,930,985.70.
The prosecution was led by former Federal Court judge Datuk Seri Gopal Sri Ram while Tan Sri Muhammad Shafee Abdullah appeared for Najib. — Bernama