SRC Trial: Witness testifies how Jho Low was liaison between Najib and AmBank despite Nik Faisal being mandated trustee

KUALA LUMPUR, July 29 — A witness in Datuk Seri Najib Razak’s RM42 million SRC International Sdn Bhd trial today testified how she was under the impression that fugitive financier Low Taek Jho was the main man controlling the flow of cash in and out of Najib’s personal bank accounts.

Former AmBank relationship manager Joanna Yu Ging Ping agreed with Najib’s lawyer Harvinderjit Singh today when he suggested that Low, also known as Jho Low, was the one managing the operations of Najib’s personal AmBank accounts, and not its mandated trustee SRC International former chief executive Nik Faisal Ariff Kamil.

Harvinderjit: Would you agree with me that it was Jho Low who was managing the accounts?

Yu: He was frequently in contact with the account holder, at least that was what he represented.

Harvinderjit: But that was not my question. It was Jho Low who was managing the accounts of Datuk Seri Najib, based on his communications with you?

Yu: Yes, he was.

Harvinderjit: All the monies transferred into the accounts were overlooked by Jho Low, you agree?

Yu: It was facilitated by him, yes.

The former banker, also the prosecution’s 54th witness, went on to agree with Harvinderjit that important decisions concerning the handling of the bank accounts were most of the time referred to Low first, who she saw as the actual liaison between the bank and the account holder.

Upon reviewing her chat logs obtained from her seized Blackberry smartphone, Yu agreed with Harvinderjit how she had indeed adhered to Low’s instructions concerning matters regarding the bank account, including when acquiring a code name for the account.

The chats also revealed how the purpose of Najib’s three AmBank personal current accounts were specified and put into practice by Yu after being told by Low; two accounts (ending-898 and ending-880) for incoming funds, and one more (ending-906) for outgoing funds.

Yu then testified that the accounts were codenamed AmPrivate Banking Y1MY, MY and 1MY as per directions from Low, who told her the opening of three accounts were also to receive ‘gifts and donations’.

“I can’t remember the exact reason, but I believed it (the accounts) was made separate for donations.

“It was conveyed to us by Nik Faisal or Jho Low, and they wanted three accounts; we asked why three accounts, but they just said they wanted it,” she answered Harvinderjit when asked on what explanation was afforded to her.

She had also agreed and answered in the affirmative when questioned by the lawyer that even at the point the AmBank accounts were about to be closed, the final green light had come from Low, despite Yu having already informed Nik Faisal.

Najib is currently on trial seven charges of alleged abuse of position, money-laundering and criminal breach of trust over RM42 million of funds from SRC International, a former subsidiary of 1Malaysia Development Berhad (1MDB).

During the course of the trial, witnesses have testified that Retirement Fund (Incorporated) granted a total of RM4 billion in loans in August 2011 and March 2012 to SRC International, with money allegedly flowing through other companies before being transferred into Najib’s accounts.

The trial before High Court Judge Mohd Nazlan Mohd Ghazali resumes on Wednesday morning.