Ambank was uncomfortable with cash deposit overflow into Najib’s account

Ambank was uncomfortable with cash deposit overflow into Najib’s account

KUALA LUMPUR: The large amount of cash deposit into the account of former prime minister resulted in Ambank getting uncomfortable and resulted in the bank issuing a letter to confirm the source of funds.

The request was then made to then-SRC International CEO Nik Faisal Ariff Kamil, the mandate holder for Najib’s accounts.

During examination-in-chief, deputy public prosecutor V Sithambaram instructed Yu to read out a Dec 24, 2014 letter from Nik Faisal authorising cash deposits into Najib’s accounts.

“I confirm the money was from Datuk Seri’s (Najib) personal funds,” she said, reading out the letter from Nik Faisal.

Sithambaram: Why was this letter written and given to the bank?

Yu: The bank actually requested it. I had, in my chats with Nik Faisal and (businessperson) Low Taek Jho, told them that the bank was uncomfortable with the volume of cash deposit made… I ask them to put in writing, and they wrote this letter.

Sithambaram: This is from the mandate holder of the account?

Yu: Yes. We needed to know the sources of the funds.

She also pointed out that the frequent cash deposits were an uncommon feature in Najib’s accounts.

“Cash payments are allowed if there’s genuine oversight. However, it is actually not common for people to do cash payments,” she testified.

Elaborating further, she said that over a period of nine months, from June 2014 to March 2015, a total of RM12,379,063 in cash was deposited into Najib’s accounts.

Asked who had arranged the deposits, she replied: “Nik Faisal or (Jho) Low, but usually deposited by Kee Kok Thiam.”

Kee is an associate of Low who is currently facing a civil forfeiture suit.

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