Ex-CEO agrees restructuring deals aimed to hoodwink 1MDB board

Former 1MDB chief executive officer Shahrol Azral Ibrahim Halmi agreed that the restructuring of the company's joint venture deal with PetroSaudi International (PSI) was intended to hoodwink the 1MDB board, the Kuala Lumpur High Court heard today.

Shahrol said he came to this conclusion with the benefit of hindsight when he was cross-examined by lead defence counsel Muhammad Shafee Abdullah in former prime minister Najib...