Najib Wants To Shut Down 1MDB Over the Debts They’ve Racked Up

Former Prime Minister, Datuk Seri Najib Razak is planning to close down the country’s controversy-ridden strategic investment company, 1Malaysia Development Berhad (1MDB), following the debt it has incurred.

Based on a report by Berita Harian, Chairman of The Edge Media group, Datuk Tong Kooi Ong said that Najib informed him of this matter after he had explained to Najib about the scandal surrounding the company. This was brought up when defense counsel, Tan Sri Muhammad Shafee Abdullah has cross-examined Datuk Tong.

According to Datuk Tong, who is the prosecution’s 43rd witness, he had suggested that fugitive businessman Jho Low be investigated and charged for ‘stealing’ US$700 million (RM3,200,750,000.00) while in a meeting at Najib’s residence in March 2015.

Upon making the suggestion, he was asked to leave the residence.

He added that he clearly showed the e-mail evidence that the money involved was diverted to Jho Low’s company, Good Star Ltd, and PetroSaudi Ltd (PSI) which established a joint venture with 1MDB, was not actually a company owned by the Saudi Arabian government. Najib had allegedly just remained quiet.

“After I gave that explanation, Najib told me he would close 1MDB, I said Jho Low must be held accountable and investigated and prosecuted. After that, he went to the door, opened the door and I left,” Datuk Tong shared.

He, as a witness, was testifying against Najib, who is faces 4 charges of using his position to obtain bribes amounting to RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.

Stay tuned for more updates.

Also read: 1MDB: Jho Low Referred To Najib as ‘Optimus Prime’ or ‘OP’ When Handling Money Transactions