The Malaysian Insight

Former 1MDB CEO Shahrol Azrol Ibrahim took orders directly from former Prime Minister Najib Razak when the sovereign wealth fund lost US$700 million, former finance minister II Ahmad Husni Hanadzlah told the Kuala Lumpur High Court today.

1MDB had taken a US$1 billion loan from Deutsche Bank to obtain a 40% share in the 1MDB-Petrosaudi joint venture project.

However, US$300 million was remitted to the JV company, while US$700 million went to Good Star, a company controlled by Low Taek Jho at RBS Coutts Bank. – June 23, 2022.