KUALA LUMPUR: Fugitive businessman Low Taek Jho or Jho Low, wanted to create the impression that he was the proxy of the then prime minister Datuk Seri Najib Razak
This was revealed by former 1Malaysia Development Bhd (1MDB) general counsel Jasmine Loo Ai Swan, who detailed her involvement in the global scale financial scandal surrounding the sovereign wealth fund today.
The former lawyer who is now jobless also described how her allegedly close associate fugitive businessman Low Taek Jho or Jho Low, was attempting to create the impression that he was the proxy of Najib.
Described as one of Low's closed inner circle, Loo said she began her career at 1MDB in May 2011 as the executive director of legal and strategic affairs.
She said in early 2011, 1MDB former chief executive officer Datuk Shahrol Azral Halmi contacted her to offer her position as general counsel which she did not provide any response at that time.
"Low told me he had no objections (for me to join 1MDB) but he did not pressure me to join 1MDB.
"I began working at 1MDB from May 2011 until November 2013.
"My initial task was to examine the joint venture documents between 1MDB and Petrosaudi International Limited (PSI)," she said.
Loo said when the board needs to sign any directors' circular resolution (DCR), the board will be given two documents – special rights redeemable preference shareholder resolution in writing (SRRP) and minutes by representative of four holding company relating to proceedings of subsidiary company (MR).
She said both documents would be signed by Najib regarding any specific decisions, especially related to investments and 1MDB's finances.
"The board of directors will follow and agree with Najib's decision and subsequently sign the DCR.
"1MDB is managed using a 'top-down approach' for projects involving significant investments, where 1MDB management will only proceed with these projects after obtaining approval from Najib.
"I believe this is because there is a specific provision in the 1MDB's Memorandum and Articles of Association whereby the approval of Najib as the prime minister is required for significant and important projects that would have financial implications for the government," she said.
The 50-year-old former lawyer said she only met with Najib during events or meetings related to 1MDB alongside the management of 1MDB.
She said she never had a one-on-one or direct encounter with Najib for any matters related to the company.
"Sometimes, Low would ask me to prepare company documents requiring Najib's signature and I would abide accordingly before informing Shahrol beforehand.
"After I handed over those documents, I did not know how Low obtained Najib's signature.
"Low often used his influence as someone close to the prime minister at that time, Najib.
"Most of his actions led us to view him as a proxy for Najib as the chairman of the 1MDB Advisory Board.
"Most major matters requiring Najib's approval needed to be discussed first with Low before being brought to the former," she said.
Loo, who also became a fugitive after the 14th General Election in 2018, was listed as a wanted person.
She was arrested by police on July 7, last year, and has been in witness protection ever since.
Najib, 70, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before presiding judge Datuk Collin Lawrence Sequerah continues.