Ex-1MDB chairman unhappy US$700mil funnelled out of company, witness tells court

The Star

A former investigating officer testified at the High Court  on Tuesday (March 26) that former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Mohd Bakke Salleh was unhappy over the incident where US$700mil was funnelled out of the company.  Senior Asst Comm R. Rajagopal, who had recorded Mohd Bakke's statement, said the US$700mil was initially meant for a joint venture between 1MDB and PetroSaudi International Ltd (PSI).  Read more at http://rb.gy/mmb53x    WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00A former investigating officer testified at the High Court that former OneMalaysia Development

00:07Berhad Chairman Tan Sri Muhammad Bakir Salah was unhappy over the incident where US$700

00:13million was funneled out of the company.

00:17Senior Assistant Commissioner R Raja Gopal, who had recorded Muhammad Bakir's statement,

00:24said the US$700 million was initially meant for a joint venture between 1MDB and PetroSaudi

00:32International Ltd.

00:33The witness said Muhammad Bakir and the company's board of directors were unhappy that while

00:39the agreement was supposed to be between 1MDB and PSI, the written agreement was between

00:451MDB and a shell company based in Cayman Islands.

00:48R Raja Gopal, the 11th defence witness testified that the US$700 million ended up in Goodstar

00:56Ltd, which was owned by fugitive businessman Lotaik Jo or Jo Lo.

01:02On October 30, last year, Najib was ordered by the High Court to enter his defence on

01:07four counts of using his position to obtain 2,280,000,000 ringgit gratification from 1MDB's

01:15and 21 counts of money laundering involving the same amount.

01:19The hearing continues on Wednesday.

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