FORMER 1Malaysia Development Bhd (1MDB) CEO Shahrol Azral Ibrahim Halmi denied that he struck a deal with prosecutors to testify against Najib Razak in exchange for immunity against criminal charges.

When cross-examined by Najib’s lawyer, Muhammad Shafee Abdullah, the 50-year-old witness was referred to news reports detailing how Singapore-based BSI Bank was hired to restructure 1MDB’s interest in PetroSaudi Oil Services Ltd in mid-2012.

Singapore-based former BSI bank wealth planner Yeo Jiawei worked with his superior, Kevin Swampillai – who headed wealth management services – to skim profits in the process. Yeo was sentenced to 54 months jail in 2017.

Shafee said Swampillai was not jailed: “They were misleading and cheating their own bank, BSI, because they were making secret profits. Kevin Swampillai was a potential witness. He too, was making secret profits. Both conspired to keep their money.”

Shahrol then denied suggestions that he misled 1MDB or that he struck a deal with prosecutors to “sing like a bird” and testify against Najib.

Shafee: You are denying making a deal with prosecutors to avoid being charged? Kevin Swampillai did so. It is not uncommon practice.

Shahrol: I disagree.

Shafee: Has 1MDB sued you for negligence?

Shahrol: No.

Shafee: I put it to you that a deal was struck. That you will not be touched until you incriminate my client.

Shahrol: I disagree.

Shahrol, who was first called to the witness stand last September, served as CEO at 1MDB’s precursor, Terengganu Investment Authority, in 2009 and later as 1MDB CEO until 2013.

At today’s proceedings, Shafee also referred to the jailing of Yak Yew Chee, a former managing director of BSI. Shafee said Yak was mentioned in the book Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World written by Wall Street Journal journalists Bradley Hope and Tom Wright.

Shahrol said he did not read the best-selling book.

Shafee: Is it because you know the content?

Shahrol: It’s just not something that I wanted to read. I roughly know the content. The author actually contacted me a few times to get comments.

Shafee: Did you give comments?

Shahrol: I did not.

Shafee: In the Billion Dollar Whale, it said that Yak was the private banker for Jho Low’s father. Did you know about this?

Shahrol: No.

Yak served as relationship manager to Larry Low, the father of Penang-born businessman Low Taek Jho, commonly known as Jho Low. Yak was sentenced to 18 weeks’ jail in Singapore after pleading guilty in 2016. Jho Low is currently a fugitive and is reportedly in China.

The prosecution informed the court that Swampillai and Yak will be testifying in the 1MDB trial.

Najib, 66, is on trial for four counts of abusing his power to enrich himself with RM2.3 billion from 1MDB and 21 counts of laundering the same amount. He faces up to 20 years’ imprisonment if convicted of the offences.

The trial before Justice Collin Lawrence Sequerah will resume on July 15. – July 1, 2020.