1MDB-Tanore: Najib says 1MDB, its projects not for Umno or his benefit

Wednesday 22 Jan 2025

KUALA LUMPUR (Dec 10): Datuk Seri Najib Razak has denied allegations that 1Malaysia Development Bhd (1MDB) or its projects were for his personal benefit or for the advantage of Umno, the political party he led during the multi-billion dollar scam.

Testifying in his defence in the ongoing 1MDB-Tanore trial, the imprisoned former prime minister said he “strongly disagreed” with court testimonies previously presented in this trial.

“I strongly disagree with the assertion, 1MDB or its project ventures were not for my benefit nor for Umno,” he said during Tuesday’s morning proceedings.

The 71-year-old was specifically referring to former 1MDB chief executive officer (CEO) Mohd Hazem Abdul Rahman’s testimony, where Hazem had said that fugitive businessman Low Taek Jho (Jho Low) was the one who would “arrange and manipulate” all 1MDB investments, joint ventures, and fundraising abroad.

Hazem had testified that Jho Low himself confided in him that these funds for the state strategic development firm were for Najib and Umno.

On the stand on Tuesday, Najib said that approvals given to 1MDB were based on the company’s very own proposal, following “thorough deliberation” by the Board of Directors (BOD) and advisors linked to the deals, such as Goldman Sachs, or the banks themselves.

“The problem with 1MDB is the systemic failure on the execution of the decisions at the management level, which started from its time under the management of (former 1MDB CEO Datuk) Shahrol (Azral Ibrahim Halmi), up until Hazem.

“I recall Hazem’s testimony in court, where he admitted to being placed in the management to carry out Jho Low’s instruction. He even admitted specifically that in regard to the US$3 billion raised for 1MDB Global Investment Ltd (1GIL), that he was placed there as a director just to sign every document placed before him upon the instruction of Jho Low, and his proxies (former company legal counsel) Jasmine Loo, and (former deputy chief financial officer) Terence Geh Choh Heng,” Najib said.

Hazem was not the only witness who linked 1MDB to Umno in the trial.

Former chief secretary to the government Tan Sri Mohd Sidek Hassan had previously testified that 1MDB was initiated as a political fund for Barisan Nasional (BN), the political coalition led by Najib.

Najib’s former special officer Datuk Amhari Efendi Nazaruddin had testified that 1MDB was used as a fund for Najib’s political purposes.

There have also been evidence and testimonies presented that funds from Najib’s personal account were channelled to several Umno branches.

While the prosecution claims that these are monies misappropriated by 1MDB, Najib claims that these were expenditures from the Middle East donations. The defence has also argued that the funds were not used for his personal benefit, but rather, channelled to corporate social responsibility (CSR) projects for the public’s benefit.

In his decision, calling for Najib to enter his defence, trial judge Datuk Collin Lawrence Sequerah said that taking the evidence presented in the court as a whole, Najib would not have got the monies if he had not taken “positive actions” in relation to 1MDB to secure his vested interests.

In his almost two-hour long decision, Sequerah also took note of Amhari and Sidek’s testimony in relation to funding for Umno.

In this trial, Najib is accused of four abuses of power and 21 money-laundering charges.

The trial continues.

Edited ByAniza Damis

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