KUALA LUMPUR: The High Court was told that some advice given by fugitive businessman Low Taek Jho or Jho Low on financial matters in 1Malaysia Development Bhd (1MDB) did not always make sense.
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Former chief executive officer of 1MDB, Mohd Hazem Abd Rahman said this during cross-examination by Najib Razak’s counsel, Muhammad Shafee Abdullah, in the 1MDB trial involving the former prime minister.
Shafee: You have observed Jho Low’s advice on talking points and so on. As a CEO with experience in the corporate field, how do you judge his advice? Was it brilliant, average, acceptable? Generally speaking, was it bizarre and does not appeal to common sense?
Hazem: Generally speaking, his advice has something to do with things that require high speed. Some made sense and some may not make a lot of sense from the financial point of view.
Shafee: You recognise that some advice was acceptable and some do not appeal to your financial sense?
Hazem: Yes.
To a question whether the advice was made through email or at meetings, Hazem said it was through Blackberry Messenger chats or face-to-face meetings.
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“The face-to-face meetings, which were attended by senior officials of the sovereign wealth fund, was held at Jho Low’s apartment at 3, Jalan Kia Peng, in Kuala Lumpur, he said.
When asked why the meeting was held at Jho Low’s house and not at the 1MDB office, Hazem said it was because “Jho Low is not part of 1MDB”.
“Actually, Jho Low cannot appear at 1MDB. He cannot be seen to be giving advice to 1MDB, he cannot appear at the office,” he added.
Najib, 67, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial before Judge Collin Lawrence Sequerah continues.- BERNAMA