{"id":46666,"date":"2019-10-16T15:53:41","date_gmt":"2019-10-16T07:53:41","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=46666"},"modified":"2019-10-16T15:53:43","modified_gmt":"2019-10-16T07:53:43","slug":"1mdb-trial-jv-with-petrosaudi-was-about-friend-helping-a-friend-witness","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=46666","title":{"rendered":"1MDB Trial: JV with PetroSaudi was about ‘friend helping a friend’ – Witness"},"content":{"rendered":"\n

KUALA LUMPUR, Oct 16 (NNN-BERNAMA) \u00a0— The High Court here today was told that the joint-venture (JV) between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) was deemed as \u201ca friend helping a friend\u201d.<\/p>\n\n\n\n

Former chief executive officer of 1MDB, Datuk Shahrol Azral Ibrahim Halmi, 49, said the matter was informed to him by fugitive businessman Low Taek Jho or Jho Low.<\/p>\n\n\n\n

The ninth prosecution witness said this when cross-examined by former Datuk Seri Najib Tun Razak\u2019s lawyer,\u00a0Tan Sri Muhammad Shafee Abdullah, on the 23rd day of the former prime minister\u2019s\u00a0trial involving 1MDB funds.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Muhammad Shafee: Jho Low told you this deal was \u201ca friend helping a friend\u201d?<\/p>\n\n\n\n

Shahrol Azral: He told me the deal was done on a friend-helping-a-friend basis.<\/p>\n\n\n\n

Muhammad Shafee:  He concluded that?<\/p>\n\n\n\n

Shahrol Azral: Yes.<\/p>\n\n\n\n

Meanwhile,  Shahrol Azral told the court that there was only oral due diligence done on PSI before the JV with 1MDB.<\/p>\n\n\n\n

The witness pointed out that due diligence done on PSI was not put down on paper or even presented to the fund’s board.<\/p>\n\n\n\n

\u201cDuring that time, we took it that we need to execute the Government-to-Government (G2G) deal. At that time I believed that PSI is a trustworthy partner,\u201d he said. <\/p>\n\n\n\n

Najib, 66, faces four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.<\/p>\n\n\n\n

The hearing before Judge Collin Lawrence Sequerah continues, with senior deputy public prosecutor and former Federal Court judge Datuk Seri Gopal Sri Ram leading the prosecution.<\/p>\n\n\n\n

–NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Oct 16 (NNN-BERNAMA) \u00a0— The High Court here today was told that the joint-venture (JV) between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) was deemed as \u201ca friend helping a friend\u201d. Former chief executive officer of 1MDB, Datuk Shahrol Azral Ibrahim Halmi, 49, said the matter was informed to him by fugitive […]<\/p>\n","protected":false},"author":19,"featured_media":39591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/46666"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46666"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/46666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/39591"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46666"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}