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Ezam files fresh evidence in support of his 1MDB suit

 | November 22, 2017

The additional affidavit are records of proceedings in a Singapore criminal trial which apparently show it is businessman Low Taek Jho who was giving directives in 1MDB.

ezam-1mdbKUALA LUMPUR: Former senator Mohd Ezam Mohd Noor has filed an additional affidavit to support his civil suit against Prime Minister Najib Razak, the government, 1MDB and current and former directors of the state investment arm to recover US$3.6 billion (RM14.8 billion).

His lawyer, Gopal Sri Ram, said the affidavit contains records of proceedings in a Singapore criminal trial involving Yeo Jiawei which were presented by the prosecution to show it was businessman Low Taek Jho who was giving directives in 1MDB.

The records also revealed that then 1MDB CEO Shahrol Azral Ibrahim Halmi had represented to Deutsche Bank Malaysia that Good Star Limited (GSL) belonged to a Saudi Arabian company.

Actually GSL was said to be owned by the businessman, better known as Jho Low.

Justice Nik Hasmat Nik Mohamad has now fixed Dec 21 to hear Ezam’s application for extension of time to use the affidavit containing the information.

All the defendants are objecting to the application.

Yeo, a former BSI Singapore wealth planner, was sentenced to 54 months in jail on July 12 for money laundering and cheating in relation to a massive global probe involving billions of dollars allegedly misappropriated from the 1MDB state fund.

Yeo, 34, pleaded guilty and was convicted on one charge each of money laundering and cheating, with eight other charges taken into consideration.

The sentence, which Yeo began serving immediately, will run concurrently with the remainder of an earlier 30-month jail sentence he was slapped with in December last year for witness tampering.

On April 14, Ezam, a former Umno and PKR leader, named Najib and 15 others in his court action, demanding that they return at least US$3.657 billion to the sovereign fund.

Ezam claimed that the money borrowed by 1MDB was lost due to breach of fiduciary duty by these individuals.

He said the directors, who held their posts between 2009 and last year, were named as defendants because they lost the money and did not take steps to recover it.

He said since Najib was also the finance minister, the government would not take any legal action to recover the money.

The directors named are Shahrol, Mohd Irwan Serigar Abdullah, Kamal Mohd Ali, Norazman Ayob, Che Lodin Wok Kamaruddin, Ismee Ismail, Ong Gim Huat, Ashvin Jethanand Valiram, Arul Kanda Kandasamy, Mohd Hazem Abd Rahman @ Mohamed, Mohd Bakke Salleh, Azlan Mohd Zainol and Tengku Rahimah Puteri Mahmud Shah.

In his statement of claim, Ezam said between 2009 and 2011, eight directors transferred US$1.03 billion to GSL for use in a joint venture with PetroSaudi International Ltd (PSI).

He said in 2012, they transferred US$1.367 billion to Aabar Investment PJS Ltd, a company incorporated in the British Virgin Islands.

The company has an almost identical name to Aabar Investment PJS (without the “Ltd”), a subsidiary of International Petroleum Investment Company (IPIC), which was to be paid the money.

Ezam said in 2013, seven directors paid US$1.26 billion to Tanore Finance Corporation (TFC) for a joint venture with Aabar to establish Abu Dhabi Malaysia Investment Company Ltd (ADMIC).

He said 1MDB and the government had, as a result, suffered losses and damages.

Ezam said he was filing the suit in his capacity as a citizen and taxpayer as he would be burdened to repay the loans taken by 1MDB.

Najib had filed an application to annul the suit on July 12 , saying Ezam had no legal standing and that he (Najib) had been wrongly made a party to the action.

In September, the government, 1MDB and 13 individuals filed their striking-out applications and a stay of proceedings today pending the outcome to revoke the suit.

The applications are intended to stop the court from hearing the merits of the suit.

 

1MDB, directors join Najib to strike out Ezam’s suit

Court to hear applications by Najib, 15 others to annul Ezam’s 1MDB suit

Ezam’s 1MDB suit fixed for case management on July 14


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