Najib knew what was happening to his account: Ex-banker

1MDB TRIAL | Najib Abdul Razak’s former banker testified that the former prime minister knew about the transactions in his bank account linked to fugitive businessperson Low Taek Jho (Jho Low).

Former relationship manager Joanna Yu told the Kuala Lumpur High Court today that this was her reason for abiding by Low’s request to not reveal to another bank - Wells Fargo - that the account holder was Najib.

The 41st prosecution witness was replying to cross-examination by lead defence counsel Muhammad Shafee Abdullah during the RM2.28 billion 1MDB corruption trial against former finance minister Najib.

Shafee was asking Yu why she told AmBank’s compliance unit that the identity of the account holder could not be revealed to Wells Fargo, which was conducting an anti-money laundering exercise by seeking AmBank to reveal the account holder’s identity.

The alleged flow of funds into Najib’s account at AmBank involved it going through Wells Fargo beforehand, with the latter - an international bank - seeking from the Malaysian bank the identity of the account holder.

The heart of Najib’s defence is that the accused was not aware of wrongdoing perpetrated involving his accounts, and that the wrongdoing was solely masterminded by Low and several others.

Shafee: With hindsight, you are now aware if the information was properly released (to Wells Fargo), the whole matter of the issue of whether money was “kosher” (lawful) or not would be known earlier and you would have protected the prime minister (Najib) rather than harm him?

Yu: I believe he (Najib) was kept informed. Cheques were issued, credit cards used. I took it that he knew what was happening.

At this juncture, the defence counsel contended that Najib was under the impression that the money was from a Saudi royal donation, hence the then premier issuing cheques and credit cards.

Previously, the defence team also raised the contention that Najib was under the impression that the funds coming into his accounts were donations from Saudi royalty rather than originating from 1MDB.

However, after continuous grilling by Shafee, Yu (above) conceded it was possible that Najib may not have known the state of his bank accounts if Low did not update the accused about them.

Shafee was earlier questioning Yu on whether Low - through conversations with Yu via Blackberry Messenger (BBM) regarding Najib’s accounts - was actually being truthful about communicating with Najib or was actually misleading her about his communication with the then-premier.

Shafee: You would not know whether Jho was really updating (Najib) or Jho Low was a total conman?

Yu: No (agreeing she would not know).

The witness, who used to work with AmBank, also told the court that Low asked her to keep confidential the identity of Najib being the account holder.

Previously, Yu testified being in constant communication with Low in regard to the management of Najib’s accounts.

Today, the witness also added that it did not occur to her then that anybody would use Najib’s account for money laundering, which is an offence under the Anti-Money Laundering Act (Amla).

Shafee: Are you aware that you participated in an Amla offence?

Yu: It was my belief that I was protecting the confidentiality of the account holder. I was told by Low that we need to protect this as someone could misuse the prime minister’s name.

Shafee: So you believed Jho Low completely?

Yu: Yes.

Shafee: Now in hindsight, did you assist Jho Low in conducting an Amla offence?

Yu: It never occurred to me that anyone would use the prime minister’s account for money laundering. This was the PM’s account.

Shafee: Money did not come from the PM. It came from outside sources.

Yu: Everyone was watching the account. This account was also known to the higher levels. It was the PM’s account.

Najib’s blessing

Yu also previously testified in the separate RM42 million SRC International corruption trial against Najib. The accused is currently serving a 12-year jail sentence over that case.

The 1MDB trial before judge Collin Lawrence Sequerah continues today.

Later, when proceedings resumed in the afternoon, Shafee grilled Yu over the defence’s contention that Low “ran helter-skelter” to prevent cheques issued by Najib from bouncing.

The lawyer contended that Low made efforts to ensure money is put into Najib’s account in order to prevent the then-premier from finding out the truth about the actual origins of the funds.

Shafee: In hindsight, Jho Low avoided cheques from bouncing as the PM would then know the truth about where Jho Low actually found the money to put in his (Najib) account when the PM thought the money was from Saudi Arabia. Najib returned the US$620 million (in late 2013, when the money initially entered earlier that year).

Yu: I do not agree in entirety.

After a series of similar questions by Shafee to Yu, deputy public prosecutor Deepa Nair stood up and raised objections against the line of cross-examination, pointing out that the questions were on what Najib may have done and were therefore hypothetical.

Sequerah then informed Shafee that while the court allows a certain latitude in cross-examination, the rest of the portion of the grilling should be best left to oral submissions towards the end of the prosecution’s case.

The trial resumes tomorrow morning.

Yu had been on the witness stand for 11 days (including today) since Oct 13 last year, with nine of those days spent being cross-examined by Najib’s lawyers.

Kamal Baharin Omar and Ahmad Akram Gharib formed part of the deputy public prosecutors leading the prosecution team.

Najib is facing four counts of abuse of power and 21 counts of money laundering involving RM2.28 billion from 1MDB.

For the four abuse of power charges, the former Pekan MP is alleged to have committed the offences at AmIslamic Bank Berhad’s Jalan Raja Chulan branch in Bukit Ceylon, Kuala Lumpur, between Feb 24, 2011, and Dec 19, 2014.

On the 21 money laundering counts, the former Umno president is purported to have committed the offences at the same bank between March 22, 2013, and Aug 30, 2013.

The prosecution contended that the wrongdoing at 1MDB was carried out by Low and several others, with Najib’s blessing.

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