Part of 1MDB's loan money went into Najib's account, court told

The Kuala Lumpur High Court was told today that more than £9.45 million (RM54.5 million) of 1MDB loan money was deposited into former prime minister Najib Razak's private account in 2014.

Bank Negara Malaysia (BNM) analyst Adam Ariff Mohd Roslan, 29, said the money came from two foreign firms, Blackrock Commodities (Global) Ltd and Vista Equity International Partners, companies controlled by Eric Tan Kim Loong, who is alleged to be an associate of fugitive businessman Low Taek Jho, or Jho Low.

The 47th prosecution witness said that the money was deposited into Najib's account, ending with "880", between June 23, 2014, and Dec 17, 2014.

"Blackrock transferred £750,000 million (RM4,093,500 per the exchange rate then) on June 19, 2014, while Vista Equity transferred £8,706,021.92 million (RM45,825,918.13 per the exchange rate then) into the same account through five transactions," he said.

According to the prosecution's opening statement at the beginning of the trial in 2019, it contended that the said amount (£9.45 million) was originally from 1MDB through its subsidiary, 1MDB Energy Holdings Ltd, where it obtained two loans totalling US$1.225 billion from Deutsche Bank Singapore.

Adam Ariff also said Najib's "880" account had RM100,000 before the transferred £750,000 (RM4,093,500) sum came in.

The witness said this when verifying the money trail report at Najib's trial involving the alleged misappropriation of RM2.3 billion of 1MDB funds.

Najib, 70, was seen donning a blue suit and tie in the courtroom today, while his few supporters were seen sitting in the public gallery in the courtroom.

The former prime minister is facing four charges of using his position to obtain bribes amounting to RM2.3 billion belonging to 1MDB and 21 charges of money laundering involving the same amount.

The trial before judge Collin Lawrence Sequerah continues on Oct 9.