KUALA LUMPUR: Former chief executive officer of 1Malaysia Development Berhad (1MDB) told the High Court here yesterday that fugitive businessman Low Taek Jho or Jho Low had given to him talking points to write a letter for the purpose of ‘shielding’ Datuk Seri Najib Tun Razak’s political risk.
Datuk Shahrol Azral Ibrahim Halmi said between 2009 and 2010, he signed several letters including a letter to Najib which sought to avoid confidential information about 1MDB to be given to National Audit Department (NAD) led by then auditor-general Tan Sri Ambrin Buang.
The information was meant for a purpose of due-diligence in the process of federalisation of Terengganu Investment Authority Berhad (TIA), a predecessor of 1MDB.
Some of the letters were addressed to Najib in his then capacities as prime minister, finance minister and sole shareholder of 1MDB as the head of the Minister of Finance (MoF) Inc, tendered in court by Najib’s lead defence counsel Tan Sri Muhammad Shafee Abdullah.
Shahrol Azral, 49, testified that he wrote the letter (to Najib) based on contents given by Jho Low, and believed that the instruction to restrict the confidential information had come from Najib.
The witness also agreed that he never checked with Najib whether Jho Low’s instruction was truly from him, albeit having realised that it was being obstructive to efforts to conduct due diligence on 1MDB.
Muhammad Shafee: When he instructed you to do that, don’t you think that he obstructed what (the National Audit Department) was trying to do?
Shahrol Azral: At the time, when I copied this letter, I felt that I needed to comply with whatever the department wanted…but Jho Low was in communication with me, saying that it was politically dangerous for Najib if the National Audit Department does the due diligence and subsequently handed this content to me. He didn’t draft the letter, he only gave me the contents.
Muhammad Shafee: But, like you said, he was being obstructive to the work of (the department). Why did you comply with him?
Shahrol Azral: Because I assume that the directions were from Najib.
The witness also said that he was told by Jho Low to be “super careful” with information leakage from 1MDB including that no copies were to be made of 1MDB documents.
Muhammad Shafee then continue to query the witness if his position as 1MDB CEO made he feel responsible to ask Najib if it was indeed his instructions (to obstruct NAD from doing the due diligence).
Shahrol Azral again stressed he had no reason to re-check with Najib himself because he believed the former premier and the businessman was in constant touch.
Further pressed by the counsel, the witness denied he conspired with Jho Low to restrict the auditing process of 1MDB to hide financial irregularities that came about as a result of the RM5 billion bond issuance where 1MDB only received proceeds amounting to RM4.3 billion.
Muhammad Shafee: Your attitude in all these letters showed that you are in cahoots with Jho Low, that you are hiding the true state of affairs in 1MDB that would be discovered in an audit. This include the RM700 million that eventually made its way to Good Star Ltd, allegedly controlled by Low. I am putting it to you that you could not have blindly followed Jho Low’s instructions, that you were in cahoots with him.
Shahrol Azral: I disagree.
Muhammad Shafee: The only interest is Jho Low acting in tandem with some personnel in 1MDB, people with interest to ensure that the auditor-general never comes in to do auditing or due diligence beyond the period of July 2009.
Shahrol Azral: I have no comment.
The witness also refused to comment on the counsel’s suggestion that he could not be so naive in believing Jho Low all the time even when he realised his action was going into ‘treacherous waters’.
Referred to another letter, signed by Shahrol Azral, which mentioned that in order for more 1MDB documents to be released to the NAD, consent must be obtained not only from the fund’s board of directors and board of advisers, but also its investment partners, namely Mubadala Co and PetroSaudi Investment Ltd (PSI), the lawyer asked why the need to have the consent of those people from the witness.
“Because the information requested was on the details of investment in the pipeline and the investment was with those partners, and those partners may not want those documents to be released to other parties other than 1MDB,” said the witness.
Muhammad Shafee: So you are now saying that 1MDB should be run like a secret entity?
Shahrol Azral: No, I am not saying that.
Najib was charged with four counts of using his position to obtain RM2.3 billion bribe in the 1MDB fund and 21 charges of money laundering involving the same money.
The trial before Justice Collin Sequerah continues today. – Bernama