Connect with us

Hi, what are you looking for?

Uncategorized

Malaysia’s 1MDB trial continues: Bank analyst’s testimony challenged

© Reuters.

The ongoing trial involving former Malaysian Prime Minister Datuk Seri Najib Razak and the alleged misappropriation of RM2.28 billion ($543 million) from 1MDB, a state investment fund, saw significant developments on Wednesday. The defense led by Tan Sri Muhammad Shafee Abdullah has challenged the validity of a key witness’s testimony.

Adam Ariff Mohd Roslan, an analyst from Bank Negara Malaysia, has been providing detailed analysis tracing billions of ringgit from 1MDB funds to Najib’s personal account. The defense team, however, argued that Ariff’s testimony was based on intelligent guesswork rather than concrete evidence due to his non-expertise. They also pointed out that Ariff is the 47th prosecution witness, factors that potentially render his testimony irrelevant in this high-stakes case.

Despite these challenges, Ariff stood firm in his cross-examination at the Kuala Lumpur High Court. The prosecution emphasized his role as a witness of fact, with the judge allowing relevancy issues to be addressed during oral submissions.

Najib faces charges of abuse of power and money laundering involving the substantial sum from 1MDB, with severe consequences if convicted. This case serves as a stark reminder of the need for transparency and accountability in public office and could potentially reshape Malaysia’s political landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

News

Introduction Duluth Trading (NASDAQ:DLTH) surprised a lot of investors with their results, sending the share price up nearly 20% following the release of their...

News

This week’s Fed meeting is extraordinary, and it could shock investors in a way we haven’t seen since 2008. So, I’m doing the weekly...