Crime & Courts

1MDB being run like a coffee shop in Petaling Street, says Sri Ram

KUALA LUMPUR: Senior deputy public prosecutor Datuk Seri Gopal Sri Ram had compared the management in 1Malaysia Development Bhd (1MDB) to a typical Chinese coffee shop in Petaling Street.

He said this when objecting to the line of questioning in the cross-examination by defence counsel Wan Aizuddin Wan Mohamed of prosecution witness Mohd Hazem Abd Rahman.

Wan Aizuddin is representing former prime minister Datuk Seri Najib Razak in the latter's trial over the misappropriation of RM2.28 billion funds from the sovereign wealth fund.

The lawyer who was going about a prospectus submission to Bursa Malaysia for a proposed listing of an Initial Public Offering (IPO) for 1MDB Energy, a subsidiary of 1MDB said he was trying to show that there was mismanagement and negligence in 1MDB.

Sri Ram at this point said the lawyer's line of cross-examination was completely irrelevant to the prosecution's case.

"For what it's worth, the affairs of 1MDB run along the line and managed in a Chinese coffee shop in Petaling Street.

"These people (in 1MDB ) were instructed by Jho Low (fugitive businessman Low Taek Jho). Jho Low was the alter ego of the accused (Najib). That is our case," he said.

Aizuddin then responded that the defence also has to prove its case saying that whole thing was perpetrated by Jho Low but the blame was put on his client instead.

High Court judge Datuk Collin Lawrence Sequerah then asked Wan Aizuddin to move on to another line of questioning since the witness had no knowledge regarding the issue.

"If he (Hazem) said he does not know, then stop there and leave it for submissions," the judge said.

The trial continues in the afternoon.

Najib, 68, is charged with 25 counts of abuse of power and money laundering involving RM2.28 billion of 1MDB funds which were deposited into his accounts between 2011 and 2014.

He faces 20 years' jail and fine, if convicted.

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