[LISTEN] The Najib Razak 1MDB Trial EP 61: Cash? What cash?
IN order to get the US$975 million facility agreement from Deutsche bank, 1MDB had charged Brazen Sky - a special purpose vehicle set up to repatriate funds back to Malaysia - to the bank.
In reality however, Brazen Sky never held any cash. Only six promissory notes said to be worth US$2.3 billion, which we now know are actually worthless pieces of paper.
This information was however not disclosed to Deutsche. – August 19, 2021.