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HomeNewsProsecution witness reveals that Najib earned over RM 1 million in interest...

Prosecution witness reveals that Najib earned over RM 1 million in interest in saving accounts in just 11 months

As the 1Malaysia Development Berhad (1MDB) trial goes on, several shocking revelations were revealed. Among them were the convicted former prime minister Najib Razak earning over RM1 million in interest alone from his personal account with AmBank.

According to an infographic shared by The Malaysian Insight (TMI), it showed a gradual increase in the amount of interest Najib is receiving, starting from February 2011 with RM5,214.10 to December 2011 with RM308,621.92.

In a tweet, TMI wrote, “Najib Razak generated more than a million Ringgit as interest earning from AmBank for funds in his personal bank account, the Kuala Lumpur High Court heard today.”

This came after prosecution witness Ambank Jalan Raja Chulan branch manager R Uma Devi confirmed that several interest payments totalling RM1,253,924.80 were made in 2011 to Najib’s private AmBank account ending with ‘694’.

Uma confirmed that a total of 11 interest entries were made to the ‘694’ account and the payment amount varied monthly as they were made according to the balance in the account each month.

“The following are the interests for the year of 2011 that were identified to have entered Najib’s AmIslamic Bank with an account number 211-202-200969-4,” she told the court today.

Earlier, Uma testified that a total of RM60.5 million, made in two tranches, was transferred to Najib’s ‘694’ account. She said a sum of RM30.5 million was transferred on 24 February 2011, while the other RM30 million was credited into the same account on 14 June 2011.

However, she did not specify where the two payments came from.

Uma also confirmed that the account was opened on 13 January 2011 with a deposit of RM500 only and was closed on 30 August 2013.

Testifying further, Uma said that there were around 71 outgoing transactions between March and December 2011, in the form of cheques amounting to a total of RM15.22 million.

Among the notable recipients of the cheques were Koperasi Wanita Pahang Berhad (RM50,000), Umno Tun Razak division (RM200,000), Shangri-La Hotel (RM395,782.40), Institut Terjemahan Negara Malaysia Bhd (RM610,000), Umno Indera Mahkota division (RM200,000), and Jakel Trading received RM180,000 on two different transactions.

There were also several transactions made to Yayasan Rahah, Semarak Konsortium Satu Sdn Bhd, Qalif Umar Creative, and ORB Solutions Sdn Bhd.

Others were mostly single transactions to individuals and entities.

Najib is currently facing four charges of using his position as the then-prime minister to obtain bribes totalling RM2.3 billion from 1MDB and 21 charges of money laundering involving the same amount.

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