SRC Trial: Jho Low instructed RM37m to go into Najib’s accounts, including RM27m labelled as ‘royal donation’ | Malaysia

KUALA LUMPUR, August 1 — At least RM37 million from SRC International Sdn Bhd’s coffers ended up in Datuk Seri Najib Razak’s personal bank account as per the instructions of fugitive financier Low Taek Jho, a bank account relationship manager told the High Court today.

Joanna Yu Ging Ping, the prosecution’s 54th witness in Najib’s RM42 million SRC International corruption trial, confirmed that she had facilitated the transactions of two sums, RM10 million and RM27 million each, into Najib’s personal current account (ending-880) in 2014 after being told by Low.

Yu, attached to AmBank from 2010 up to when she was asked to leave in 2015, confirmed with Najib’s lawyer Harvinderjit Singh that the first sum of RM10 million had originated from SRC International’s accounts and transacted through its subsidiarity company Ihsan Perdana Sdn Bhd’s account.

She had also confirmed how the cash was then debited into Najib’s AmBank account by way of two RM5 million tranches as instructed by Low on February 6, 2014.

Upon reviewing further bank statements of Najib’s account (ending-880) account together with her Blackberry Messenger (BBM) chat logs, Yu also agreed with Harvinderjit that she was under the impression the cash injection was needed to prevent several cheques issued by Najib from bouncing.

Yu had previously testified how the management of AmBank had allowed certain leeway towards Najib by ensuring every cheque issued under his accounts were cashed out and never bounced, similar to the instructions Yu had received from Low.

Harvinderjit: You agree that the one person who caused RM10 million to be transferred out of SRC into IPSB and into the 880 account is Jho Low?

Yu: Yes, it was to ensure that the cheques don’t bounce.

The banker had also confirmed that Low, also known as Jho Low, had informed her that the additional RM27 million deposited into Najib’s account (ending-880) on July 4 that same year was a royal donation, later agreeing with Harvinderjit that it was an outright lie.

This was after she had agreed with Harvinderjit, upon reviewing other bank documents, of how a sum RM34.9 million had originated from SRC International’s account, passed through two construction companies’ coffers, namely Putra Perdana Construction Sdn Bhd (PPC) and Permai Binaraya Sdn Bhd, before making its way into Najib’s account.

(while reviewing bank statements)

Harvinderjit: You can see there is RM27 million that was from SRC International deposited to Permai Binaraya, and then to the ending-880 account?

Yu: Yes.

Harvinderjit: Would you agree that these were done on instructions the on Jho Low?

Yu: Yes.

Harvinderjit: On July 8 (2014) Jho sends you a message saying, ‘Please don’t send the info of sender (to Bank Negara Malaysia)?

Yu: Yes.

Harvinderjit: And then he sends you a message telling you it’s a ‘royal donation’ telling you to ‘please confirm’ the transaction. You agree he told you this so that you would think it’s not from PPC, that it’s a donation? And that he told you this just so you believe it’s not from SRC International

Yu: Yes.

Harvinderjit: You agree that, that’s a lie?

Yu: Yes.

Harvinderjit: In fact, it is a blatant, clear lie?

Yu: Yes.

Harvinderjit: You agree with me when I say that Jho Low was trying to deceive you so that you had no way of knowing the money, the RM27 million than entered into the 880 account registered under Datuk Seri Najib had originated from SRC International?

Yu: Yes, he was trying to make me believe that.

Harvinderjit: By instead saying that it was donation from a royal highness?

Yu: Yes.

Yu also agreed with Harvinderjit that control over SRC International’s accounts was mostly exercised by Low, also answering in the affirmative when asked if she agreed that former SRC International director Terence Geh was a subordinate and also took instructions from Low. 

Najib is currently on trial seven charges of alleged abuse of position, money-laundering and criminal breach of trust over RM42 million of funds from SRC International, a former subsidiary of 1Malaysia Development Berhad (1MDB).

During the course of the trial, witnesses have testified that Retirement Fund (Incorporated) granted a total of RM4 billion in loans in August 2011 and March 2012 to SRC International, with money allegedly flowing through other companies before being transferred into Najib’s accounts.

The trial before High Court Judge Mohd Nazlan Mohd Ghazali resumes on Monday morning.