Datuk Seri Najib Razak's Ambank account received US$681mil (RM2.08bil) in illicit funds from Tanore Finance Corporation (Tanore), a senior police officer told the High Court in Kuala Lumpur Thursday (Oct 12).
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NewsTranscript
00:00 A senior police officer told the KL High Court on Thursday that Datuk Seri Najib Razak's
00:08 M-Bank account had received US$681 million in illicit funds from Tanner Finance Corporation.
00:16 ACP Fu Wei Min, who's the assistant director of the Anti-Money Laundering Criminal Investigation
00:22 Division, said he applied the "first-in, first-out" investigation method to determine
00:27 whether the money that went into the former prime minister's M-Bank account was illicit
00:31 or clean money.
00:33 The 48th prosecution witness said, based on the results of his investigation, the account
00:38 held by Tanner, which is registered in Singapore, was opened at Falcon Private Bank on November
00:43 2, 2012, and the authorized person and beneficial owner named was Tan Kim Loong, an associate
00:51 of fugitive businessman Joe Low.
00:54 Fu said the inflow of Tanner's illicit money into the M-Bank account could be separated
00:59 with money from other sources as well as money already in the account.
01:03 He referred to Najib's bank statement and confirmed proceeds of unlawful activities
01:08 involving 1MDB Global Investment Limited.
01:12 He said US$681 million was received from Tanner through nine transactions between March 22
01:19 and April 10, 2013.
01:22 Fu was reading out his witness statement during the examination in chief by Deputy Public
01:27 Prosecutor Kamal Baharin Omar in Najib's trial involving the alleged misappropriation of
01:33 2.3 billion ringgit of 1MDB funds.
01:37 The trial before Judge Datuk Colin Lawrence Sequera continues.
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