The Malaysian Insight

FORMER prime minister Najib Razak said he was cheated by Low Taek Jho, the wanted financier who allegedly masterminded the diversion of funds from 1Malaysian Development Bhd (1MDB).

Najib said available evidence now showed that money had been siphoned from the government investment arm, which was supposed to raise funds for development projects in Malaysia. 

“That’s how it looks like, concluding from the evidence available today,” he told Sinar Harian.

He also said his relationship with Low – better known as Jho Low – was purely professional, and that he was unaware of the activities of the young businessman.

He said he saw the potential of Low bringing in business from the Middle East to Malaysia.

“Whatever he did in his personal capacity, including buying a yacht, private jet or partying, I am not aware of those.”

He added that action must be taken against Low for his wrongdoing.

Najib faces a total of 38 criminal charges in relation to the 1MDB scandal, including four counts of corruption under Section 23 of the Malaysian-Anti Corruption Commission (MACC) Act and 21 counts of money laundering under Section 4 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

The Attorney-General’s Chambers has also filed criminal charges for money laundering against Jho Low as well as his father, Low Hock Peng, over money allegedly stolen from 1MDB.

Najib also accused investment bank Goldman Sachs, lawyers and auditors for failing to protect the country’s interests in the 1MDB scandal.

“The responsibility of this bank and all the rest was to protect Malaysia’s interests.

“If they failed to protect Malaysia’s interests, how would I know?” said Najib.

He added that Goldman Sachs, lawyers and auditors had “failed in carrying out their responsibilities”.

“The system we created to protect our interests – investment banks, auditors, lawyers and all, they have not played their true role,” said Najib. – November 22, 2018.