Jasmine Loo: My knowledge of PetroSaudi is only from documents

The Star

Jasmine Loo, who is the key witness in Datuk Seri Najib Razak's 1Malaysia Development Bhd (1MDB) trial, has told the High Court in Kuala Lumpur that her knowledge about PetroSaudi International Ltd was only based on documents.  Loo also agreed with the defence counsel that it was not Najib’s job to determine if PetroSaudi was a sham company before 1MDB entered into a joint venture with PetroSaudi.  Read more at https://shorturl.at/mLVW4  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 Key witness Jasmine Lu told the Kuala Lumpur High Court on Monday that she did not know

00:05 Petro Saudi International was a sham when 1MDB entered into a joint venture with the

00:11 company.

00:12 Lu agreed with Datuk Shri Najib Razak's lead counsel, Tan Shri Mohammed Shafi Abdullah,

00:17 that it was not Najib's job to determine if Petro Saudi existed in Saudi Arabia.

00:23 Shafi suggested that it was the job of 1MDB's legal consultant and Lu herself to conduct

00:29 due diligence on Petro Saudi before their joint venture.

00:32 Lu also agreed to the suggestion.

00:35 She added that her knowledge about Petro Saudi was only based on documents given to her,

00:40 such as bank letters and information from former 1MDB CEO Datuk Sherol Azral Ibrahim

00:47 Halmy.

00:48 With the Petro Saudi joint venture, 1MDB injected US$1 billion as starting capital.

00:55 However, US$700 million was diverted to Goodstar Ltd, linked to fugitive businessman Joe Low.

01:02 Najib, who is the former prime minister of Malaysia, faces 25 graft and money laundering

01:08 charges involving RM2.28 billion in the 1MDB scandal.

01:13 The U.S. Department of State's top legal advisor, the U.S. Department of State's top

01:20 legal advisor, the U.S. Department of State's top legal advisor, the U.S. Department of

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Transcript

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