Ex-CEO: Najib signed US$975m loan approval before 1MDB board knew about it, labelled ‘boss’ by Jho Low | Malay Mail

Datuk Seri Najib Razak arrives at the Kuala Lumpur High Court September 17, 2020. — Picture by Ahmad Zamzahuri

Today, Mohd Hazem described the events that led to 1MDB taking on the US$975 million loan from Deutsche Bank in 2014, despite the company already being heavily in debt and amid questions of whether the company’s billions of ringgit in overseas funds actually existed. In the document titled “Final Decisions on 1MDB Energy Group IPO” which included having 1MDB borrow up to US$975 million from 1MDB, Najib had written a minute that said, “Ybh Tan Sri Ismee, noted the contents with no objection,” with the note dated as August 13, Mohd Hazem said.

In the same email, Low had also attached two undated documents where then finance minister Najib signed his approval on behalf of 1MDB shareholder MOF Inc for 1MDB to borrow US$975 million from Deutsche Bank. These two signed shareholder documents are a shareholder’s resolution and a minutes by the shareholder.

When asked by deputy public prosecutor Mohamad Mustaffa P. Kunyalam on who Low was referring to as “boss” in the August 14 email, Mohd Hazem replied that Low was referring to Najib.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

I was stunned when Najib approved 1MDB taking loan to buy back shares, says ex-CEOFormer 1MDB CEO Mohd Hazem Abdul Rahman tells court he and chief financial officer Azmi Tahir were in the dark about the need to take a US$975 million loan - a second - from a bank. FMTNews 1MDB PJS IPIC
Source: fmtoday - 🏆 5. / 72 Read more »