Malaysia's 1MDB funds went to PetroSaudi, says witness during former PM Najib Razak's corruption trial

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KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - Most of the funds raised by 1Malaysia Development Berhad (1MDB), which were intended for the development of Kuala Lumpur International Financial District (KLFID) known as Tun Razak Exchange (TRX) and Bandar Malaysia, were pumped into PetroSaudi International Ltd (PSI) instead.. Read more at straitstimes.com.

KUALA LUMPUR - Most of the funds raised by 1Malaysia Development Berhad , which were intended for the development of Kuala Lumpur International Financial District known as Tun Razak Exchange and Bandar Malaysia, were pumped into PetroSaudi International Ltd instead.

Shahrol: Only a very tiny proportion was used for TRX if I recall correctly, although I would have to look at financial records. The money mostly went to PSI for additional tranches for the Murabaha agreement we spoke earlier. Shahrol: In general yes. But in this situation, in my perception Najib was the one who had personally invested in this relationship, has met up with Prince Turki on a holiday. I cannot say one way or the other if the prime minister would have the capacity to do due diligence.

Lead prosecutor Datuk Gopal Sri Ram said the prosecution had received instructions from Attorney General Tan Sri Tommy Thomas in seeking a sanction by the court to be imposed on the Pekan MP through travel restrictions and self report to the police station. Sri Ram said the AGC received complaints and a police report was lodged by an individual over the matter."There must be a sanction on this utter contempt of court proceedings,"Sri Ram said.

 

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