Returned US$620mil Sent Directly to Tanore, Not Rerouted to Najib’s Accounts, High Court Told

KUALA LUMPUR: The High Court heard on Tuesday (Aug 11) that a sum of US$620mil returned by former prime minister Datuk Seri Najib Razak was sent directly back to Tanore Finance Corp and was not rerouted to his personal bank accounts.

Cross-examining offshore asset recovery specialist Angela Barkhouse, lead defence counsel Tan Sri Muhammad Shafee Abdullah highlighted that the funds were returned shortly after Malaysia’s 13th General Election in 2013.

Barkhouse, testifying as the third witness in a US$5.6bil civil lawsuit filed by 1Malaysia Development Bhd (1MDB) and its subsidiaries, agreed that the funds were indeed transferred back to Tanore, though she could not confirm the exact timeline relative to the election.

Muhammad Shafee argued that the prompt return of the money supported his client’s stance that he believed the funds were a political donation from Saudi royalty.

Muhammad Shafee: “Now, isn’t that consistent with his (Najib’s) claim that he believed the money was an Arab donation?”

Barkhouse: “I can’t comment on that.”

Muhammad Shafee: “But you are aware that the US$620mil was returned to Tanore… almost as soon as the election was over in Malaysia?”

Barkhouse: “I am not sure of the date of the election, so I can’t comment or confirm it.”

The lawsuit—filed in May 2021 by 1MDB and four subsidiaries, including 1MDB Energy Ltd and Global Diversified Investment Company Ltd—targets Najib alongside seven former executives, including former chief executive officer Nik Faisal Ariff Kamil, general counsel Jasmine Loo Ai Swan, and executive director Casey Tang Keng Chee.

The plaintiffs allege that the defendants committed breach of trust, breached their fiduciary duties, abused their power, and conspired to misappropriate 1MDB funds.

The trial before Judicial Commissioner Mohamad Redzuan Idrus continues on Wednesday.

The Star