A BANK Negara Malaysia analyst today told the High Court that fugitive businessman Low Taek Jho or Jho Low opened a Swiss bank account for his company, Good Star Ltd, three months before the entity received US$700 million (RM3.25 billion) of 1Malaysia Development Berhad’s (1MDB) funds in 2009. 

Adam Ariff Mohd Roslan, 34, said Jho Low opened Good Star’s bank account on June 11, 2009, and the company received US$700 million on September 30, 2009. 

The 47th prosecution witness said according to the banking records, 1MDB instructed Deutsche Malaysia to make this transfer. 

He said this when questioned by deputy public prosecutor Kamal Baharin Omar at Najib Tun Razak’s trial for alleged misappropriation of RM2.3 billion of 1MDB funds. 

Najib’s counsel Muhammad Farhan Muhammad Shafee, however, said the defence team maintained its objection over the admissibility of the document that the prosecution was relying on to prove Good Star’s account opening.  

Earlier, Adam Ariff testified that the RM2.3 billion entered into Najib’s private bank accounts in 19 transactions from 2011 to 2014 could be traced to funds raised and belonging to 1MDB and these were his findings after analysing 343 banking documents and records. 

Reading out his July 2023 money trail report, which gave detailed analyses of the money entering Najib’s personal bank accounts, Adam Ariff said he had made the statements and analyses in good faith based on information up to the date of the report that was believed to be reliable and accurate. 

In his report, Adam Ariff also said he had no reason to believe there were any material facts that were misleading or had been withheld from him. 

Najib, 70, faces four charges of using his position to obtain bribes amounting to RM2.3 billion belonging to 1MDB and 21 charges of money laundering involving the same amount. 

The trial before Judge Collin Lawrence Sequerah continues on September 18. – Bernama, August 30, 2023.