MORE than US$710 million was converted into ringgit for an Ambank VIP client account between 2012 and 2013, the Kuala Lumpur High Court heard today during Najib Razak’s 1MDB trial.

AmBank’s treasury department vice president Salmah Daman Huri, the prosecution’s 23rd witness, however did not name the VIP client who allegedly received the large sum of money.

Reading her witness statement, Salmah said that on October 31, 2012, her department had exchanged US$5 million to more than RM15 million (according to the exchange rate at the time) to the account known as Amprivate Banking - Mr C/O Amprivate Banking.

She added that on November 2012, some US$25 million was converted to more than RM75 million which was also transferred to the “Mr C/O Amprivate Banking” account.

A year later, in March 22, 2013, Salmah revealed three more separate transactions amounting to US$50 million were exchanged to RM155 million.

“Four days later on March 26, almost US$61 million was exchanged to RM188 million. And then on March 28, US$75 million and US$45 million were exchanged to more than RM231 million and more than RM138 million respectively,” she told the court.

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

He faces 25 charges, four of abuse of power and 21 of money laundering, allegedly committed between 2011 and 2013.

Salmah, who took the witness stand at 3pm, said that a month later, another US$50 million in the account was exchanged to RM152 million.

“On April 8, US$50 million was exchanged into RM152 million and on the very next day US$100 million was exchanged to RM304 million.

“Then on April 10, US$200 million was exchanged to RM652.6 million,” she said.

Salmah did not get to read her full statement today as the hearing was adjourned to Monday. – June 9, 2022.