LOW Taek Jhow was behind many of the transactions linked to Najib Razak’s accounts, where even mandate holder SRC International CEO Nik Faisal Ariff Kamil had acted on the Penang-born businessman’s instructions, the court heard today. 

Former AmBank relationship manager Joanna Yu agreed with defence lawyer Harvinderjit Singh that Low was also regarded as the troubleshooter for financial issues related to Najib’s AmBank current accounts. 

He brought up a BlackBerry chat with Nik Faisal on January 13, 2015 in which Yu told him that one of Najib’s accounts was overdrawn by RM2.26 million. 

Harvinderjit said it was Low, in a chat later with Yu, who told her to ensure that Najib’s cheques did not bounce.

Yu told the court she informed both men not to issue cheques to prevent them from bouncing.

Nik Faisal responded by saying the matter was out of his hands as he was merely a “ciku” or “small fry”.

In another instance Nik Faisal told Yu that RM3.5 billion was needed and “somebody” should be informed of the matter. That somebody, was later identified as Low. 

The court previously heard that a cheque was issued and that RM3.5 million was disbursed to law firm Hafarizam Wan & Aisha Mubarak on January 21, 2015.

Yu confirmed she met Low on August 21, 2013, at Kampachi restaurant in Kuala Lumpur, where he had booked a private room.

It was during this lunch that Yu handed over chequebooks for Najib’s three current accounts ending with 880, 906, and 898 at Low’s request, despite Nik Faisal being the mandate holder.

A day later, Yu messaged Low to tell him that cheques should not be issued because Najib did not have sufficient funds in the account yet.

Low then told her to destroy the old chequebooks, which Yu did not.

Harvinderjit: Why didn’t you tell him that you couldn’t destroy the chequebooks?

Yu: I followed the bank’s procedure. According to procedure, we don’t destroy chequebooks.

Harvinderjit also addressed 12 mandate letters containing instructions, such as closure of accounts and the transfer of the remaining balance to new accounts.

Harvinderjit referred to letters carrying Najib’s signature but with Nik Faisal’s name missing. The defence lawyer suggested that Nik Faisal filled in his name at a later date.

Yu agreed with Harvinderjit’s suggests that Low could sometimes give instructions relating to Najib’s accounts, and that Nik Faisal would sign off on them.

However, Yu reiterated that only Nik Faisal could sign off on written instructions because he was the accounts’ mandate holder.

Defence lawyers have suggested that Low has manipulated Najib’s accounts, along with the help of others, to defraud SRC International.

Najib faces three counts of criminal breach of trust, three counts of money-laundering and one count of abuse of power.

The 66-year-old former prime minister faces up to 20 years’ imprisonment if convicted.

The trial, Justice Mohd Nazlan Mohd Ghazali presiding, continues on Wednesday. – July 29, 2019.