Testifying on the witness stand at the 1MDB-Tanore trial, its former chief executive officer Datuk Shahrol Azral Ibrahim Halmi said the amount was raised by its subsidiary 1MDB Global Investments Ltd, a special purpose vehicle (SPV) set up to raise funds.
The money was to be used as seed capital for the development of the Tun Razak Exchange (TRX) project along Jalan Tun Razak.
During the cross-examination by defence counsel Wan Aizuddin Wan Mohammed today, Shahrol maintained that he was not aware of the schemes at the material time, but conceded that it was a fraud in hindsight.
Datuk V Sithambaram: We don't know when Najib will be put into prison. It all depends on the decision of the Federal Court and the Court of Appeal. We estimate that both Appellate Court and Federal Court will take four to five months each, so if the records are ready and judgement is ready, approximately a year's time.
"I am very disappointed with the court's decision regarding this case because our defence team led by Tan Sri Shafee has given arguments that can lead to many doubts in this case. But [they were] not accepted by the judge.
"Nevertheless, the appeal to the Court of Appeal will be made as soon as possible and I hope that this appeal will be heard as soon as possible. Because I want to continue the effort to clear my name and I shall continue this struggle."
People are pressed up against each other trying to get in to court, with absolutely no social distancing being practised.
Clad in a light brown suit, Najib was welcomed by some 300 supporters chanting “Hidup Bossku” as he walked into the court complex. The supporters were seen arriving at the court area since 6am this morning, in 20 buses. Heavy presence of police were also here to control the crowd.
The money was seized for being allegedly linked to the 1Malaysia Development Bhd (1MDB) fund scandal.
Last Feb 12, the Court of Appeal allowed Tengku Adnan's appeal for Mohd Nazlan to recuse himself from hearing the case and for the case to be transferred to another court, with the new judge to decide whether to start the case afresh or to continue from where Mohd Nazlan had left.
As Najib was exiting the court, he was welcomed by his supporters — amounting to around 20, who were waiting for him outside the complex with two birthday cakes. He stopped by to cut the cakes and shared a few bites with them.
However, Shahrol defended his decision to proceed with the agreement by arguing that he was given any and all power to do whatever it took to secure the funds to acquire the power plants from Tanjong Energy Holdings Sdn Bhd and Genting Sanyen Power Sdn Bhd.
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