In a significant revelation, a witness testified in the High Court that the RM2.28 billion that flowed into former prime minister Datuk Seri Najib Razak’s private bank accounts from 2011 to 2014 can be directly traced back to funds raised and belonging to 1Malaysia Development Berhad (1MDB). The witness, Adam Ariff Mohd Roslan, an analyst from the government’s 1MDB task force, affirmed that his meticulous analysis of 343 banking documents revealed a clear connection between the funds and 1MDB’s activities. This testimony holds relevance in Najib’s ongoing trial involving 25 charges related to the alleged misappropriation of RM2.28 billion from 1MDB.
During his testimony, Adam Ariff referred to his comprehensive 76-page money trail report, dated July 27, 2023. This document meticulously traced the intricate path of the funds from their source to Najib’s two AmBank accounts, referred to by code names “AmPrivate Banking-MR” and “AmPrivate Banking-1MY.”
The analyst highlighted that the money trail can be compartmentalized into four distinct phases, each linked to 1MDB’s financial activities. These phases are known as the “Good Star” phase, the “Aabar-BVI” phase, the “Tanore” phase, and the “Options buyback” phase.
For the “Good Star” phase, Adam Ariff’s analysis revealed that over RM60 million, approximately US$20 million, were transferred into Najib’s “AmPrivate Banking-MR” account from a Riyad Bank account in Saudi Arabia. This transaction, spanning from February 23 to June 14, 2011, can be indisputably linked to a RM5 billion Islamic bond issued in May 2009 by 1MDB’s predecessor, Terengganu Investment Authority Berhad (TIA), and a RM2.5 billion loan acquired by 1MDB in 2010.
The court proceedings illuminate the complex financial web linking the RM2.28 billion to 1MDB’s operations, thereby shedding light on the alleged misappropriation charges against Najib. As the trial continues, the testimony of Adam Ariff Mohd Roslan stands as a significant piece of evidence in the pursuit of justice.