KUALA LUMPUR: Datuk Seri Najib Razak told the High Court that his action in returning US$620mil of unutilised Saudi donation to Tanore Finance Corp reflected his innocence and yet he was hit with five charges under the Anti-Money Laundering Act.
The former prime minister testified that he decided to return the balance of the funds that were unutilised as they were no longer needed.
"AmBank required some time to convert the ringgit to my account back into US dollars and the funds were subsequently returned to the original source, Tanore Finance Corp.
"Due to exchange rate fluctuations and a 10% depreciation between March and August, the amount returned was US$620mil instead of the US$681mil initially received," Najib said in his 525-page witness statement on Thursday (Dec 12).
The US$620mil is part of two-tranche monies he received totalling US$681mil in March, 2013.
On March 21, 2013, Najib received US$620mil into his AmBank account ending 9694 and another US$61mil was received on March 25, the same year.
The return of the US$620mil is a key ingredient in his five charges - the 10th charge, and the 16th to 19th charge - under Section 4(1)(a) of the AMLA.
Najib said the money was a donation from the Saudi government as a gesture of support in recognition of his contributions and it was transferred through a designated company, Tanore Finance Corp.
The funds, he said, were used for corporate social responsibility (CSR) and political purposes. For the purpose of the return, Najib said he wrote to AmIslamic Bank to inform them of his intention.
To a question by his lawyer Wan Azwan Aiman Wan Fakhruddin, Najib said he also informed former Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz of his intention to return the funds in a letter seeking the central bank's approval for foreign exchange conversion and remittance abroad.
"My entire conduct, in relation to the charges against me, demonstrates a clear absence of a guilty mind, or mens rea, as it is referred to in law.
"If I had any criminal intent, I would not have opened local bank accounts in my own name within the jurisdiction.
"Additionally, I would not have disclosed to Bank Negara the remittance of funds into my personal accounts. Lastly, I certainly would not have returned the US$620mil to Tanore Finance Corp, alerted Bank Negara about the remittance, and sought the central bank’s approval for the transaction.
"Each of these actions reflects my intent to act transparently and in accordance with the law, and yet I face charges for acts entirely consistent with innocence," he said.
On Oct 30, Najib was ordered by the High Court to enter his defence on four counts of using his position to obtain RM2.28bil gratification from 1MDB's funds and 21 counts of money laundering involving the same amount.
The hearing continues before Justice Collin Lawrence Sequerah on Friday (Dec 13).
