KUALA LUMPUR: A Bank Negara Malaysia (BNM) analyst spent six days in the witness stand providing intricate insights into the labyrinthine movement of billions of ringgit in 1Malaysia Development Bhd (1MDB) funds.
Concluding his testimony today, Adam Ariff Mohd Roslan had detailed how millions of ringgit were siphoned into Datuk Seri Najib Razak's personal bank accounts at Ambank by several entities linked to fugitive businessman Low Taek Jho, better known as Jho Low.
Najib's lead counsel Tan Sri Muhammad Shafee Abdullah is expected to cross-examine the 47th prosecution witness tomorrow.
However, the senior lawyer, who attended today's proceeding during the morning session, was unable to attend the afternoon session due to a health issue.
Adam, who took the witness stand on Aug 30, said based on BNM's investigation, billions in funds belonging to 1MDB were transferred to Najib's bank account in four phases namely via companies Good Star Ltd, Aabar-BVI, Tanore, and through buy-back options.
Adam testified how Low, in all phases, had used shell companies linked to his associates to purposely divert funds meant for 1MDB and its subsidiaries' investments into the former prime minister's account.
"Based on tracing analysis, the disbursement of funds raised by 1MDB and its related companies was done through multiple foreign banking systems between September 2009 and December 2014.
"A portion of the funds was subsequently transferred back into the country thorough Najib's two accounts," he said.
Earlier, the 29-year-old analyst, in his witness statement, said Najib received a total of RM2.28 billion belonging to the sovereign wealth fund over a span of four years.
Adam, who was part of the 1MDB task force in 2018, stated that he arrived at this conclusion after analysing 343 documents and records related to Najib's bank accounts.
Najib, 70, 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.