Jho Low went all out to ensure Najib’s accounts had funds

Jho Low went all out to ensure Najib’s accounts had funds

KUALA LUMPUR: Fugitive businessman Low Taek Jho, better known as Jho Low, went to extreme extent in depositing funds into former prime minister Datuk Seri Najib Razak’s current account to ensure the cheques issued did not bounce.

A total of RM12.37 million in cash was deposited into two AmBank accounts belonging to the accused Najib Abdul Razak between June 2014 and March 2015, testified the bank’s former relationship manager, Joanne Yu.

The amount was deposited over the counter over 19 transactions into Najb’s accounts ending in 880 and 906.

Harvinderjit: Looking at what I have shown you, you will agree, everyone who brings cash in is on instruction from Low?

Yu: Yes, he was involved in arranging the deposits so the cheques wouldn’t bounce.

Yu also testified that Jho Low ignored the various red flags given by the bank due to frequent and multiple cash deposits.

She said that he ignored the warnings altogether.

Harvinderjit: On numerous occasions, you told them (the depositors) no more cash over the counter (due to concerns of being flagged for suspicious transactions), but that was all ignored?

Yu: Yes.

Harvinderjit: Whatever you told them about the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and the problems faced (were similarly ignored)?

Yu: Whether they took cognisance or not, I do not know.

Harvinderjit: They did not comply?

Yu: They still kept sending cash.

Tags assigned to this article:
joanne yuLow Taek Jhonajib razak