Former 1MDB CEO signed away US$1 billion without checking, court told

It was revealed that 1MDB management did not even do basic checks about the company, let alone find out if it was really involved in offshore oil and gas exploration and the energy sector in places like Latin America, Europe and Central Asia.

Shafee concentrated on 1MDB’s jva with PSI in his cross-examination of the key prosecution witness today. However, when asked by Shafee how he had come to the conclusion, Shahrol said it was based on what Low Taek Jho @ Jho Low had told him. Shahrol said the entire 1MDB management was then pressured into working a tight deadline for the signing of the jva to take place.

Shahrol: My state of mind at that time was that PSI was a trustworthy partner. Their word was good enough for us to proceed. Moreover, this was a government to government transaction.

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