Sri Ram: Jho Low was Najib's 'alter ego' and 'mirror image'
NAJIB TRIAL | The 1MDB corruption trial against Najib Abdul Razak commenced this morning with the prosecution stating it would prove how fugitive businessperson Jho Low was a “mirror image” of the former premier.
"An important character in the charade is a man called Low Taek Jho or Jho Low. He is a fugitive from justice. He was involved in (1MDB predecessor) Terengganu Investment Authority and later in 1MDB...
NAJIB TRIAL | The 1MDB corruption trial against Najib Abdul Razak commenced this morning with the prosecution stating it would prove how fugitive businessperson Jho Low was a “mirror image” of the former premier.
"An important character in the charade is a man called Low Taek Jho or Jho Low. He is a fugitive from justice. He was involved in (1MDB predecessor) Terengganu Investment Authority and later in 1MDB.
"The prosecution will prove that the accused, by his words and conduct, made it clear to 1MDB’s officers, its board and others that Jho Low was his alter ego. In truth, Jho Low was the accused’s mirror image.
“The prosecution will establish facts which will give rise to an irresistible inference that Jho Low and the accused acted as one at all material times," lead prosecutor Gopal Sri told the Kuala Lumpur High Court.
Najib is standing trial for 25 charges of money laundering and abuse of power involving billions of ringgit.
Sri Ram said the first four charges under Section 23 of the MACC Act, the offence of abusing one's public office or position for gratification, concerned a phase in the misappropriation of 1MDB funds.
He said in the first phase where 1MDB entered into a "false" joint-venture with PetroSaudi International, Najib gained a total of RM60,629,839.43.
In the second phase involving Goldman Sachs arranging bonds for 1MDB to acquire power assets, he said, Najib received a sum of RM90,899,927.28.
Sri Ram said the third phase, concerning funds raised for a joint venture between 1MDB and Abu Dhabi Malaysia Investment Company (ADMC) that never took off, saw the former premier gaining RM2,081,476,926.
In the fourth phase, which involved 1MDB's loan money from Deutsche Bank Singapore, Najib gained RM 4,093,500 and later, another RM45,837,485.70.
Collectively, this amounted to RM2,282,937,678.41 for Najib alone.
"An elaborate charade was employed. It was acted out in four phases in which several characters played a part. But it was the accused who played the pivotal role. His objective was to enrich himself.
"Although this case concerns four phases, the events in respect of them are to be considered as part of a consecutive story because of the pre-arranged plan by the accused to enrich himself," said Sri Ram.
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