KUALA LUMPUR: The High Court here today was told that Datuk Seri Najib Tun Razak had never given his approval to the 1Malaysia Development Berhad's (1MDB) management to convert the company's Petro Saudi International (PSI) investment into promissory notes purportedly worth US$2.3 billion.
Former non-executive director of 1MDB, Tan Sri Ismee Ismail, 58, said this during cross-examination by Najib's lead counsel Tan Sri Muhammad Shafee Abdullah in the former premier's trial over the misappropriation of RM2.3 billion in funds from 1MDB.
Muhammad Shafee: You know the reason why I asked you this is because it goes to the heart of our defence. Did you see somewhere the fingerprints of my client (Najib)? With the way what was being done, the management purposely mishandled these funds. Did you see the fingerprints of my client?
Ismee: No.
Muhammad Shafee: Is it ridiculous for the management to accept the promissory notes without collateral?
Ismee: Yes.
The 13th prosecution witness also agreed that the said promissory notes were never shown to the 1MDB board of directors.
When asked on Ismee's understanding of promissory notes, Ismee said: "It is something like 'I promise to pay'."
He also testified that the fund's management seemed to be acting on the instructions of fugitive businessman Low Taek Jho or Jho Low.
Previously, the court was told that 1MDB paid US$1 billion in 2009 for a 40 per cent stake in the joint venture while PSI held the remaining 60 per cent. The funds were later converted into Islamic Murabahah notes.
1MDB later paid another US$830 million between 2010 and 2011 for the same purpose. By 2012, the notes were said to be worth US$2.22 billion.
Muhammad Shafee then queried the witness on 1MDB's 2013 financial report that was supposed to be concluded by audit firm KPMG but they were unable to do so even after a year of meeting with the state fund.
To this, Ismee said it was due to KPMG's dissatisfaction with the documents and answers given by the 1MDB management to the audit company pertaining to 1MDB's investments in Brazen Sky Ltd, a company incorporated in the British Virgin Islands by Jho Low.
Ismee said at the material time, he had requested a meeting to be convened by the 1MDB management, solely to update the board of directors, especially on the documents and details requested by KPMG on the issue of Brazen Sky investment, as KPMG had raised suspicion on the 'underlying assets' of the investment.
Muhammad Shafee: Did you, by any means, think that KPMG was being difficult?
Ismee: They were a bit demanding.
Muhammad Shafee: They had a good reason to demand. Now, on hindsight, you know what happened to the (investment) money?
Ismee: Yes.
Ismee also agreed to a suggestion by the lawyer that throughout the process, Najib was not obstructing the 1MDB audit by KPMG.
Najib, 68, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before judge Datuk Collin Lawrence Sequerah continues tomorrow.
-- BERNAMA
Bernama
Mon Apr 04 2022
![Najib didn't give greenlight over US$2.3 bln promissory notes - Witness Najib didn't give greenlight over US$2.3 bln promissory notes - Witness](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2022-04/51649075012_NajibAbdRazak.jpg)
The High Court here was told that Najib Razak had never given his approval to the 1MDB management to convert the company's PSI investment into promissory notes purportedly worth US$2.3 billion. - Astro AWANI
![PRK Nenggiri: Generasi muda tagih peluang pekerjaan PRK Nenggiri: Generasi muda tagih peluang pekerjaan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/81723287338_Nenggiri.jpg)
PRK Nenggiri: Generasi muda tagih peluang pekerjaan
Tanpa kehadiran tapak perindustrian, rata-rata penduduk di sini hanya bergantung harap kepada pekerjaan tradisional.
![Dua pelajar cemerlang Malaysia terpilih sertai CSSP di Geneva Dua pelajar cemerlang Malaysia terpilih sertai CSSP di Geneva](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/71723670962_ShimZiJunNurulN.jpg)
Dua pelajar cemerlang Malaysia terpilih sertai CSSP di Geneva
Dua pelajar cemerlang Malaysia dipilih menyertai Program Pelajar Musim Panas CERN (CSSP) 2024 di Geneva, Switzerland.
![Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/81723628328_TBKandapan.jpg)
Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas
Kandapan juga cukup terkenal dengan keretanya yang turut dihiasi Jalur Gemilang, bendera Johor dan semua negeri serta pelbagai pelekat imej bertemakan kemerdekaan termasuk wajah pemimpin negara.
![Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2021-02/81613025046_TBPelantarMinyak.jpg)
Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI
Malaysia akan kekal sebagai destinasi utama bagi pelaburan syarikat minyak nasional Thailand, PTT Exploration and Production (PTTEP), dalam jangka masa pendek dan panjang.
Jualan penyaman udara naik mendadak di negara Balkan
Menetap di negara sejuk, mereka tidak pernah terfikir memasang penyaman udara di dalam rumah memandangkan musim panas bukanlah setiap hari. Namun, cuaca panas melampau membuatkan mereka bertukar fikiran.
![Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-01/61706688348_wismaputra.jpg)
Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa
Kerajaan Malaysia mengecam sekeras-kerasnya pencerobohan Masjid Al-Aqsa oleh ekstremis Zionis Israel pada 13 Ogos.
![Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/61723653359_TBMOKHTAR.jpg)
Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham
Ayah kepada penyanyi dan Youtubers Muhammad Nidza Afham Mokhtar reda dengan pemergian anak lelakinya walaupun itu bukan pengakhiran yang beliau harapkan.
Ahli perniagaan diberkas, terlibat dalam aktiviti kumpulan mafia
Seorang ahli perniagaan Itali ditangkap di bandar Natal, Brazil pada selasa.
Giuseppe Bruno kini menghadapi tuduhan termasuk melakukan pemerasan dan pengubahan wang haram dan juga penglibatan bersama kumpulan mafia.
Giuseppe Bruno kini menghadapi tuduhan termasuk melakukan pemerasan dan pengubahan wang haram dan juga penglibatan bersama kumpulan mafia.
Srettha hormati keputusan mahkamah
Srettha Thavisin menghormati keputusan Mahkamah Perlembagaan Thailand yang memecatnya daripada jawatan Perdana Menteri.
Lahir empat hari lepas, bayi kembar maut angkara serangan rejim Zionis
Kembar lelaki diberikan nama Asser manakala Ayssel pula nama diberi buat kembar perempuan, kedua-duanya lahir pada 10 Ogos lepas.