Defence alleges ex-CEO hoodwinked 1MDB over IPIC's role as bond guarantor

1MDB TRIAL | Najib Abdul Razak’s defence team accused former 1MDB CEO Shahrol Azral Ibrahim Halmi of hoodwinking the sovereign wealth fund’s board by not scrutinising the funds’ US$1.75 billion bond documents which did not state that UAE’s International Petroleum Investment Company (IPIC) would be the guarantor for the bonds.

During the trial of the former prime minister’s RM2.28 billion 1MDB corruption case today, defence counsel Wan Aizuddin Wan Mohammed cross-examined ninth prosecution witness Shahrol over the allegation.