The Malaysian Insight

THE former 1MDB chief finance officer said today he never knew about the letter of approval and support (LOS) from the Ministry of Finance for 1MDB loans from Deutsche Bank. 

Azmi Tahir said he never saw the LOS from former finance minister Najib Razak for loans of US$250 million and US$975 million during his tenure. 

The 12th prosecution witness of Najib’s criminal trial over RM2.28 billion in 1MDB funds also said he did not sign the LOS though his signature was on it.

At the Kuala Lumpur High Court, Azmi was referred by the prosecution to the LOS in relation to term loan facilities arranged by the Deutsche Bank, Singapore branch. 

“I was never informed or shown this document during my tenure as CFO at 1MDB,” Azmi said before judge Collin Lawrence Sequerah.

“There are my and deputy CFO Terence Geh Choh Heng’s signatures. I confirm it is my signature.  

“However, I am sure I have never seen this letter and signed my signature on behalf of 1MDB for the purpose of this letter,” he said. 

The witness added that the US$250 million loan was made on May 26, 2014 and the US$975 million loan was made on September 1, 2014.

“However, I found out this LOS was made on August 29, 2014.  As far as I know, the documents on the loan also do not refer to the LOS. 

“I believe it was made without the knowledge of the management,” he said. 

Previously, former 1MDB chief executive officer Mohd Hazem Abdul Rahman said he was shocked when Najib approved the US$975 million loan to buy back 1MDB’s shares in Aabar Investment PJS in 2014.
 
He said he had learned about it after receiving an email from fugitive businessman Low Taek Jho or Jho Low, adding that Azmi was also not aware of the loan proposal.

“This is what I meant where any decisions have already been made by Najib with Jho Low’s advice, and we as the board of directors only have to comply and sign documents to verify decisions in 1MDB,” Hazem had said.
 
Azmi worked as CFO of 1MDB for three years from June 1, 2012 until his contract expired in December 2017. 

“After my contract expired, I no longer applied for a contract extension. After I quit 1MDB, I started my own business,” he said. 

The trial continues tomorrow with a new witness, former 1MDB director Ismee Ismail, testifying. 
 
Najib, 68, is facing 25 abuse of power and money laundering charges over alleged 1MDB funds amounting to RM2.28 billion deposited into his AmBank accounts between February 2011 and December 2014.
 
He faces up to 20 years’ jail if convicted. – November 16, 2021.