FORMER 1MDB director Ismee Ismail told Kuala Lumpur High Court today that he had no knowledge of any money being channelled into former prime minister Najib Razak’s bank accounts.

Ismee was answering questions from defence lawyer Shafee Abdullah about the sale of the Islamic medium-term bonds raised by the Terengganu Investment Authority (TIA), the predecessor to 1Malaysia Development Bhd (1MDB).

TIA raised RM5 billion in bonds in 2009, which were sold within 24 hours to Aktis Capital, Country Group Securities and Acme Time Pte Ltd, the latter owned by fugitive financier Low Taek Jho.

They were subsequently resold to the Employees Provident Fund and insurance provider Prudential.

Ismee also told the court that he was not aware of Low making RM700 million from the sale.

Earlier, Shafee alleged that US$113 million (RM474 million) was transferred to an Acme account at RBS Coutts Singapore, sometime between May and June 2009.

In May 2009, AmBank sold RM3.8 billion of the bonds to Thai brokerage firm Country Group Securities Plc, which bought them for Low.

AmBank took RM500 million for itself, while the remaining RM700 million was placed out to Aktis Capital Singapore Pte Ltd for its client, a British Virgin Islands company called Morningstar Equities Inc.

On the same day, AmBank resold the bonds on behalf of Country Group, Low and Aktis to Malaysian investors, pocketing RM600 million.

After the immediate flip, Country Group, on the same day, instructed AmBank to send US$1.1 million to its account at Sime Commercial Bank in Bangkok.

It also asked that US$113 million be transmitted to Acme Time Pte Ltd’s account in RBS Coutts Singapore. Another sum of US$12.6 million was sent to Acme Time on July 13, 2009.

US investigators have determined that Acme Time’s account in RBS Coutts Singapore was controlled by Low and his associate Eric Tan Kim Loong.

Shafee asked Ismee if at any time during the sale of the bond and the subsequent flip, any money entered Najib’s accounts.

“No,” Ismee told the court.

Najib is standing trial for corruption over the misappropriation of RM2.28 billion in 1MDB funds.

He faces 25 charges – four for abuse of power and 21 for money-laundering – for offences committed between 2011 and 2013. – March 21, 2022.