Jho Low
KUALA LUMPUR: A former Singaporean banker told the High Court here that BSI Bank was under intense pressure by 1Malaysia Development Bhd Global Investment Ltd (1MDB GIL) to hasten the process of investing US$2.72bil into a targeted company account.
Former BSI Bank Wealth Management Services head Kevin Micheal Swampillai, 59, testified that the pressure came from fugitive businessman Low Taek Jho, or Jho Low.
He said he in turn passed the pressure on to another BSI Bank manager Yak Yew Chee, who managed the 1MDB GIL account and would then pass on the pressure to "the rest of the bank".
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The witness was testifying during cross-examination by defence lawyer Tan Sri Muhammad Shafee Abdullah at the graft trial of Datuk Seri Najib Razak involving RM2.28bil of funds from 1MDB here on Tuesday (April 18).
Muhammad Shafee: When this pressure was executed, another element of red flag was raised. Is it correct that BSI Bank officers were constantly reminded that they were dealing with the Malaysian government funds?
Swampillai: That is correct.
The court was told that Low was positioned as the enabler and adviser for 1MDB GIL.
“I know that sounds very murky but that is what was conveyed. That is what came out at the onset," Swampillai said.
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The witness also said the monies in 1MDB GIL and other 1MDB-related client accounts did not remain in their accounts for too long as there was always a great haste shown by them to invest the money in fiduciary funds as quickly as possible.
Muhammad Shafee also asked Swampillai about transactions involving funds from 1MDB GIL made by former 1MDB chief executive officer Mohd Hazem Abdul Rahman, and another 1MDB officer, Azmi Tahir, who were both appointed as authorised signatories for 1MDB GIL and held the position of director in the company.
Muhammad Shafee: When Hazem and Azmi were transferring this funds, did you have a suspicion at any point in time that they were misappropriating this fund?
Swampillai: My discomfort with these transactions was consistent from Day 1.
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The witness said his "discomfort" never changed and it did not just revolve around 1MDB GIL transactions but other 1MDB-related transactions as well.
"At the back of my mind I always felt these transactions were shady, to say the least," he added.
Najib, 70, is facing four charges of abusing his position to obtain gratification totalling RM2.28bil in 1MDB funds and 21 counts of money laundering involving the same money.
The hearing continues before Justice Collin Lawrence Sequerah on May 8.
