1MDB lawyer purposely confused board on PetroSaudi deal, court hears

Bede Hong

Najib Razak at the Kuala Lumpur High Court today, where his trial for money laundering and abuse of power is sitting. – The Malaysian Insight pic by Seth Akmal, June 30, 2020.

FORMER 1Malaysia Development Bhd lawyer Jasmine Loo deliberately confused the 1MDB board over a 49% equity purchase of PetroSaudi Oil Services Ltd (PSOSL) in 2012, the Kuala Lumpur High Court heard today.

She did so by purposely describing the equity purchase in an convoluted manner so as to confuse the board, testified former 1MDB CEO Shahrol Azral Ibrahim Halmi at the trial of Najib Razak, who is charged with money laundering and abuse of power involving RM2.3 billion in 1MDB funds.

Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!

Subscribe Now!

Sign up or sign in here to comment.