Kuala lumpur: Former prime minister Datuk Seri Najib Tun Razak testified in the High Court today that he returned US$620 million of unutilized funds from a donation to its source account, securing approval from Bank Negara Malaysia (BNM) for the transaction.
According to BERNAMA News Agency, Najib emphasized in his oral remarks before the court that the funds, which have been under intense media scrutiny, were intended for political and social welfare purposes. He asserted that he did not possess any offshore accounts. "Equally shocking is that I actually returned US$620 million to the source account because it had not been utilised," Najib stated, noting that he sought BNM's approval through a letter to the then-governor, Tan Sri Zeti Akhtar Aziz, prior to returning the donation. This statement was made before presiding judge Datuk Collin Lawrence Sequerah.
Najib further contended that individuals connected to 1Malaysia Development Berhad (1MDB), such as former CEOs Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, his former aide Datuk Amhari Effendi Nazaruddin, and former 1MDB counsel Jasmine Loo Ai Swan, engaged in questionable transactions involving significant sums of money without legal repercussions. He criticized the treatment of these individuals as credible prosecution witnesses while he faced charges alone.
Earlier, Najib's legal representative, Tan Sri Muhammad Shafee Abdullah, informed the court of the defense's preparation of seven volumes of written arguments for Najib's 1MDB-related case, which are set to be submitted over nine days. The defense closed its case on May 6 after presenting 26 witnesses, leading the court to schedule nine days for oral submissions starting today.
Najib, aged 72, is confronting four charges of leveraging his position to secure gratification amounting to RM2.3 billion in 1MDB funds, allegedly committed at the AmIslamic Bank Berhad branch on Jalan Raja Chulan, Bukit Ceylon, between February 24, 2011, and December 19, 2014. These charges fall under Section 23(1) of the MACC Act, with penalties prescribed under Section 24(1) of the same act, which include up to 20 years of imprisonment and a fine of either five times the bribe amount or RM10,000, whichever is higher.
Regarding the 21 money laundering charges, Najib is accused of committing the offenses at the same bank between March 22, 2013, and August 30, 2013. These charges fall under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which stipulates penalties of a maximum RM5 million fine and imprisonment of up to five years, or both, upon conviction.
Since August 23, 2022, Najib has been serving a sentence in Kajang Prison following a separate criminal trial conviction involving the misappropriation of RM42 million from SRC International Sdn Bhd. He sought a royal pardon on September 2, 2022, which resulted in a reduction of his 12-year sentence to six years and a reduction of the RM210 million fine to RM50 million.