Najib moving monies from one personal account to another considered AMLA offence, IO testifies

KUALA LUMPUR: The High Court here on Tuesday (Nov 7) was told that Datuk Seri Najib Razak’s action of moving RM150mil and RM12mil from his personal account to another personal account in AmIslamic bank is categorised as an offence under the Anti-Money Laundering Act (AMLA).

Assistant Director of the Anti-Money Laundering Criminal Investigation Division, ACP Foo Wei Min said from a theoretical point of view, money laundering from one account to another is considered layering, which is one of the stages in the money laundering process.

“The action (moving monies from one account to another) is also deemed as layering because it is an attempt to mislead the authorities, making it harder to track the initial source of the money,” he said.

The 48th prosecution witness was referring to Najib’s alleged actions of transferring RM150mil and RM12mil, on Aug 27 and 30, 2013, respectively, from his AmIslamic 694 account to the 880 account at the former prime minister’s trial involving the misappropriation of RM2.3bil from 1Malaysia Development Bhd (1MDB).

However, Najib’s counsel, Tan Sri Muhammad Shafee Abdullah, said the act of layering must have an element of concealing to it, which Najib did not do as Bank Negara Malaysia (BNM) was aware of the transaction at the material time.

“In that sense, somehow an unfairness has occurred because he (Najib) did not get to explain himself during the investigation. If he wants to conceal, he wouldn’t transfer it from his one account to another, wouldn’t he?” said the lawyer.

Meanwhile, Muhammad Shafee, when referring to a document prepared by Foo detailing the funds in Najib’s account, asked Foo whether he agreed that Najib spent a lot for political and welfare purposes, which included UMNO and corporate social responsibilities (CSR).

Foo concurred with Muhammad Shafee on the matter.

The witness also agreed with the lawyer’s suggestion that none of the monies were used for Najib’s personal purposes, including buying a yacht.

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 Justice Datuk Collin Lawrence Sequerah continues Wednesday (Nov 7). – BK