Jho Low's advice on financial matters did not always make sense - Witness

KUALA LUMPUR: The High Court here today was told that some advices given by fugitive businessman Low Taek Jho or Jho Low on financial matters in 1Malaysia Development Berhad (1MDB) did not always make sense.

Former chief executive officer of 1MDB, Mohd Hazem Abd Rahman said this during cross examination by Datuk Seri Najib Tun Razak’s counsel, Tan Sri Muhammad Shafee Abdullah, in the 1MDB trial involving the former prime minister.

Muhammad Shafee: You have observed Jho Low’s advice on talking points and so on. As a CEO with experience in the corporate field, how do you judge his advice? Was it brilliant, average, acceptable ? Generally speaking, was it bizarre and do not appeal to common sense?

Mohd Hazem: Generally speaking, his advice has something to do with things that require high speed. Some made sense and some may not make a lot of sense from the financial point of view.

Muhammad Shafee: You recognise that some advice was acceptable and some do not appeal to your financial sense?

Mohd Hazem: Yes

To a question whether the advice was made through email or meeting, Mohd Hazem said it was through Blackberry Messenger chats or face-to-face meeting.

"The face-to-face meeting, which was attended by senior officials of the sovereign wealth fund, was held at Jho Low's apartment at 3 Kia Peng, in Kuala Lumpur, he said.

When asked why the meeting was held at Jho Low’s house and not at 1MDB office, Mohd Hazem said it was because “Jho Low is not part of 1MDB".

"Actually, Jho Low cannot appear at 1MDB. He cannot be seen to be giving advice to 1MDB, he cannot appear at the 1MDB office," he added.

Najib, 67, 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 Judge Collin Lawrence Sequerah continues.

-- BERNAMA