1MDB wanted to speed up US$1bil remittance into two accounts, court told


KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) wanted to accelerate a US$1bil remittance into two accounts including an account which was later revealed to be linked to fugitive businessman Low Taek Jho or Jho Low, the High Court heard.

Deutsche Bank (M) Bhd's former managing director Jacqueline Ho, 51, testified that the bank received a remittance instruction on Sept 30, 2009, from 1MDB for the US$1bil to be split to two transactions - US$300mil into a J.P. Morgan SA account for 1MDB Petrosaudi Ltd (1MDB-Petrosaudi) and US$700mil into a RBS Coutts Bank Ltd account for PetroSaudi International (PSI) Ltd.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Jho Low , 1MDB , Najib Razak , money laundering

   

Next In Nation

Law on fake info, RFID inefficiencies among focus of Parliament today
Mohd Hanis family to seek legal action after fatal collision with reversing lorry in Bangsar
Why some motorcyclists don’t stick to their lanes
Amendments to Kelantan’s Syariah Criminal Code to be tabled next year
Veggie prices soar in bad weather
Local Tamil wordsmith Muniandy dies
Punchy exchange between reps
Start-ups make a beeline to ministry’s booth for leg-up
Young heroes and shining stars recognised
Push for cheaper housing

Others Also Read