KUALA LUMPUR: A former Singaporean banker told the High Court 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 Head of Wealth Management Services Kevin Micheal Swampillai, 59, testified that the pressure came from fugitive businessman Low Taek Jho, or better known as Jho Low, who in turn passed the pressure to another BSI Bank manager, Yak Yew Chee (who managed the 1MDB GIL account), who would then pass the pressure to “the rest of the bank”.
The witness said this while being cross-examined by defence counsel Tan Sri Muhammad Shafee Abdullah at the graft trial of Datuk Seri Najib Razak involving RM2.28bil of funds from 1MDB here yesterday.
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 on the onset,” Swampillai said.
The witness added that 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 demonstrated 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 that were made by former 1MDB chief executive officer (CEO) Mohd Hazem Abdul Rahman, and another 1MDB officer, Azmi Tahir, who were both appointed as an authorised signatory in 1MDB GIL and held the position of director of the company.
Muhammad Shafee: When Hazem and Azmi were transferring these funds, did you have any suspicion at any point in time that they were misappropriating this fund?
Swampillai: My discomfort with these transactions were consistent from Day One.
He said his “discomfort” did not just revolve around the 1MDB GIL transactions but other 1MDB-related transactions as well.
“At the back of my mind, I always felt that 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.
