KUALA LUMPUR: Former Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar Aziz today told the High Court here that 1Malaysia Development Berhad (1MDB) admitted that there were no monies and no investment after the central bank imposed a fine amounting RM15 million against the company.
Zeti, 76, who revealed the matter said the inability of 1MDB to bring the monies back and to provide evidence on the status of the funds, resulted in a compound being imposed on the sovereign wealth fund.
According to the 46th prosecution witness, 1MDB paid the compound on May 25, 2016.
Zeti said this when asked by Datuk Seri Najib Tun Razak's lead counsel Tan Sri Muhammad Shafee Abdullah at the former premier's trial involving the misappropriation of RM2.3 billion of 1MDB funds.
Muhammad Shafee: Did 1MDB repatriate any funds?
Zeti: None. They (1MDB) informed us that the money was placed overseas to pay debt and we (BNM) said we can accept it, if they provide sufficient documents as well as where the funds were placed.
But, 1MDB was unable to provide the details as there were none. 1MDB admitted no monies and no investment.
Besides that, Zeti informed the court that 1MDB had in 2014 filed an application to BNM, seeking permission for them to borrow funds from offshore sources of around RM4.9 billion.
"We rejected this application because of their high level of debt. They (1MDB) were not happy and filed an appeal, however, that appeal was also rejected," she said.
When Muhammad Shafee asked if 1MDB attempted to raise an appeal with the Ministry of Finance helmed by Najib then regarding the (RM4.9 billion loan) Zeti replied that she was not aware.
Muhammad Shafee: Did Najib contact BNM and asked it to review this decision (rejection)?
Zeti: No
Najib, 70, faces four charges of using his position to obtain bribes amounting to RM2.3 billion belonging to 1MDB and 21 charges of money laundering involving the same amount.
The trial before Judge Datuk Collin Lawrence Sequerah continues tomorrow.
-- BERNAMA
Bernama
Wed Aug 16 2023
Ex-BNM Governor Tan Sri Dr Zeti Akhtar Aziz said the inability of 1MDB to bring the monies back and to provide evidence on the status of the funds, resulted in a compound being imposed on the sovereign wealth fund. - BERNAMA
Floods: Condition improves in Perak, Johor, Terengganu but numbers rise in Pahang
According to the Department of Irrigation and Drainage, the water level of Sungai Rui in Hulu Perak remains at the warning level.
Maxis, Astro, Bumi Armada and MEASAT donate RM5 mil to Dana Ihsan MADANI for flood relief
The cash contribution is to support flood victims affected by recent severe floods across multiple states in Malaysia.
![[COLUMNIST] The need to regulate medical insurance premiums pricing](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-04/41713797170_insuranskesihatan.jpg "[COLUMNIST] The need to regulate medical insurance premiums pricing")
[COLUMNIST] The need to regulate medical insurance premiums pricing
It is imperative for the government to regulate the industry and ensure that healthcare remains a basic necessity rather than a luxury.
What are 'ghost guns' like the one found with suspect in killing of a UnitedHealth CEO?
Here are some facts about ghost guns and how they are made.
![[COLUMNIST] Beyond bullets: Leveraging AI and VR in P/CVE efforts](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-10/51728873693_EMIR.jpg "[COLUMNIST] Beyond bullets: Leveraging AI and VR in P/CVE efforts")
[COLUMNIST] Beyond bullets: Leveraging AI and VR in P/CVE efforts
The MADANI Framework calls for integrating AI and VR into Malaysia's P/CVE strategies to combat violent extremism and terrorism threats.
ANALYSIS - Brazil's left caught in the long shadow of ailing patriarch Lula
Emergency surgery to relieve a cranial hemorrhage raise questions in Brazil over President Luiz Inacio Lula da Silva's short-term agenda.
Wan Saiful trial: Over RM900,000 deposited into three companies' accounts - Witness
Wan Saiful also faces 18 money laundering charges involving RM5.59 million, by transferring and using the proceeds of illegal activities.
Najib defends monies in his account are Saudi donations
Datuk Seri Najib Tun Razak says it was reasonable to believe King Abdullah directed Riyadh's Finance Ministry to donate funds on his behalf.
South Korean president's party divided over defiant martial law speech
As of Thursday, at least seven members of the party were expected to support a new impeachment motion.
Malibu wildfire destroys homes, forces 6,300 people to evacuate
Nearly 2,000 firefighters were battling the Franklin Fire, which scorched more than 4,000 acres.
Ramanan honours pledge, channels MP salary to community welfare
Datuk Seri R. Ramanan says since taking office, he has redirected over RM550,000 of his salary and allowances to benefit the community.
Control of rat trails at the border will use new, latest technology - Saifuddin Nasution
Home Minister Datuk Seri Saifuddin Nasution Ismail says border technology will undergo thorough research to ensure high effectiveness.
Batu Puteh: Wan Azizah, Anthony Loke, Mohamad Sabu refute Tun Mahathir's claim on "Cabinet decision"
In a joint statement, the trio says, Tun Dr Mahathir Mohamad only informed the Cabinet of the decision he had made two days later.
Continuous rain expected in five states until tomorrow - MetMalaysia
MetMalaysia urges the public to stay informed by checking its official website, the myCuaca mobile app or its social media channels.
EPF launches Belanjawanku 2024/2025 and Retirement Income Adequacy Framework
EPF's CEO says the RIAs recommended savings levels are from a single-tier savings benchmark to a three-tier savings framework.
Gas distribution between Petronas and Petros settled, govt fine-tuning details - PM
Discussion is settled but we are looking into details, parameters and legal implication (of it), says Datuk Seri Anwar Ibrahim.
Pahang launches post-flood mission to Kelantan
The focus would be on cleaning up affected houses and schools, as well as distributing aid to communities in need.
Brazil's Lula to undergo new surgery to minimize further brain bleeding
According to his personal doctor, the endovascular procedure will help minimise the risk of future bleeding.
AG withdraws appeals to challenge DPM Zahid’s acquittal in VLN case
With the withdrawal of the appeal, Shah Alam High Court's decision to acquit and discharge Datuk Seri Dr Ahmad Zahid Hamidi remains intact.
Razman apologises to Nga over China flag waving incident
Perak PAS commissioner Razman Zakaria admits 'the allegations were untrue and completely baseless'.