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Najib pleads not guilty of all charges


KUALA LUMPUR, Sept 20  (Bernama) -- Former Prime Minister Datuk Seri Najib Tun Razak today pleaded guilty in the Sessions Court to four counts of corruption involving RM2.3 billion in 1Malaysia Development Bhd (1MDB) fund which were deposited into his personal account.

Najib, 65, made the plea after all the charges were read out separately before judge Azura Alwi.
The prosecution was led by former Federal Court judge  Datuk Seri Gopal Sri Ram, while lawyer Tan sri Muhammad Shafee Abdullah led the defence team.

The first charge against Najib was that he,as the Prime Minister, Finance Minister and chairman of the Advisory Board of 1MDB,  was alleged to have used his positions to obtain gratification totalling RM60,629,839.43  by taking four actions between Feb 24, 2011 and June 14, 2011 at  the  Jalan Raja Chulan branch of the AmIslamic Bank Berhad here:

-- On April 1, 2009 at  the Cabinet Ministers’ Meeting Room, 4th Floor, Prime Minister’s Department, Putrajaya, through a memorandum from the Finance Minister , Najib had obtained approval from the cabinet for the Malaysian government to be the guarantor for Terengganu Investment Authority Berhad (TIA) to secure loans of up to RM5 billion from domestic and foreign markets through Islamic Medium Term Notes Programme.

-- On July 29, 2009, at the same place, Najib, on April 3, 2009, had decided for the federal government to take over TIA and further caused the name TIA to be changed to 1Malaysia Development Bhd (1MDB), in which he had direct interest.

-- On Sept 26, 2009, Najib had ordered the 1MDB Board of Directors , which held a special meeting at The Royale Bintang, Damansara, Petaling Jaya, to approve a resolution to allow 1MDB to participate in a joint-venture with PetroSaudi International limited by making investments of RM1 billion in ordinary shares in the company at a price of US$1.00 per share.

-- On May 16, 2011, at the 1MDB Office, 8th Floor, ​​​​​​​Menara IMC, No 8, Jalan Sultan Ismail, Kuala Lumpur, Nahjib had caused the 1MDB Board of Directors to pass a Circular Resolution which allowed an additional investment of RM1 billion (or an equivalent value in US$) under the Murabaha financing Agreement dated March 31, 2010 to  be made  in 1MDB Petro Saudi Limited.

On the second count, Najib was charged between Oct 31, 2012 and Nov 29, 2012, at the same place and while holding the same posts, had used his position to obtain gratification for himself, amounting​RM90,899,927.28 by taking two action:

-- On Feb 9, 2012, at the 1MDB Office, as the Finance Minister, having approved 1MDM, in which he had direct interests through ​​​​​​​1MDB Energy Sdn Bhd, which is a subsidiary of 1MDB, to offer bid for purpose of taking over Tanjong Energy  Holdings Sdn Bhd at a bidding price of RM10.6 billion.

-- On Aug 10,2012, at the same place and as the Finance Minister, had approved the take over of Syarikat Mastika Lagenda Sdn Bhd equities at an aggregate purchase price of up to RM2.75 billion, and further approved 1MDB, to issue a 10-Year Structured Loan Note worth US$1.75 billion.

On the third count, the former prime minister was charged with using his position between March 22, 2013 and April 10, 2013 to obtain gratification for himself amounting RM2,081,476,926  through two actions:

-- On ​​​​​​​Feb 25, 2013, at the 1MDB Office, as the Finance Minister, having approved 1MDB, which he had interest in, to enter into a joint-venture agreement with Aabar Investment PJS.

-- On March 14, 2013, in approving a Letter of Support to 1MDB global Investment Limited for the purpose of supporting the issuance of bonds totalling US$3 billion on behalf of 1MDB, which he had direct interest in.

On the fourth charge, Najib as the Prime Minister, Finance Minister and chairman of the 1MDB Board of Advisors, had used his position to obtain gratification totalling ​​​​​​​RM49,930,985.70 by taking the following actions:

--  On Aug 20, at the 1MDB Office, in his capacity as chairman of the 1MDB Board of Advisors, had ordered the 1MDB Board of Directors to give approval for 1MDB Energy Holdings Limited to make loans through Term Loan Facility of up to US $975,000,000 from Deutsche Bank AG for the issuance of 1MDB Energy Group IPO, which he had direct interests in.

Najib was alleged to have committed all the offences at the same bank between June 23, 2014 and Dec 19, 2014.

All the charges were made under Section 23(1)  of the Malaysian Anti-Corruption Commission (MACC) Act and punishable under Section 24 (1) of the same law.

He faced an imprisonment for up to 20 years and a fine of up to five times the sum or value of the gratification or RM10,000, whichever is higher, if found guilty. -- Bernama

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