Najib says he returned US$620mil of unutilised funds with Bank Negara’s approval

KUALA LUMPUR: The High Court hears that Datuk Seri Najib Razak returned US$620mil of unutilised funds from a donation to the source with Bank Negara’s approval.

Najib told the Court that the funds he received were used for political and social welfare purposes and stressed that he did not hold any offshore accounts.

“Equally shocking is that I actually returned the US$620mil to the source account because it had not been utilised. Before returning the unused donation, I wrote to the Bank Negara Governor at the material time, Tan Sri Zeti Akhtar Aziz, seeking Bank Negara’s approval for the return.

“I would probably be the only alleged ‘corrupt politician/money-launderer’ who returns the so-called gratification that he worked so hard to obtain, and probably the first in recorded history to have announced his ‘ill-gotten’ money to the Governor of Bank Negara of all people,” he said in his oral remarks preceding the defence submissions before presiding judge Justice Collin Lawrence Sequerah here on Tuesday (Oct 21).

Najib pointed out that several individuals linked to 1Malaysia Development Bhd (1MDB), including former chief executive officers Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, his former aide Datuk Amhari Effendi Nazaruddin and 1MDB general counsel Jasmine Loo Ai Swan had carried out questionable transactions involving hundreds of millions of US dollars without facing legal consequences.

“The successful bidder for the Picasso painting and recipient of the RM100mil was 1MDB counsel, Jasmine Loo.

“The individual who defied the King and transferred the US$700mil and a further US$330mil to fugitive businessman Low Taek Jho or Jho Low was 1MDB’s CEO, Shahrol Azral and 1MDB’s subsequent CEO Mohd Hazem was the one who paid US$175mil to a bogus company,” Najib contended.

Najib said these individuals were treated as credible witnesses despite their alleged misconduct yet he was charged.

They were chosen not for what they had to say, but for what they were willing to say, he added.

“As a former prime minister, I am not asking for immunity, far from it; I am only seeking equality, the right to be treated like any other individual who has come before the judicial system.

“Your decision will echo beyond me; it will define the kind of justice this nation keeps,” he said in his closing remarks.

Earlier, the Court was informed by Najib’s lead counsel, Tan Sri Muhammad Shafee Abdullah that the defence had compiled seven volumes of written arguments for the case, which will be submitted over the span of nine days.

Najib is facing four counts of using his position to obtain RM2.28bil gratification from 1MDB’s funds and 21 counts of money laundering involving the same amount.

The abuse of power offences were allegedly committed at an AmIslamic Bank Bhd branch, Jalan Raja Chulan, Bukit Ceylon between Feb 24, 2011 and Dec 19, 2014.

Meanwhile, the money laundering offences were allegedly committed at the same location between March 22 and Aug 30, 2013.

Najib is currently serving his prison sentence in Kajang Prison since Aug 23, 2022, after being convicted in a separate criminal trial over the misappropriation of RM42mil from SRC International Sdn Bhd.