1MDB board in 'sandiwara' on overseas funds belonging to Umno, claims ex-CEO

1MDB TRIAL | The board of directors of 1MDB was involved in a ‘sandiwara’ (charade) to keep from official record that the sovereign wealth fund’s overseas funds belonged to Umno, claimed former CEO.

Mohd Hazem Abdul Rahman testified this during today’s RM2.28 billion 1MDB corruption trial involving former prime minister Najib Abdul Razak.

The 10th prosecution’s answer came during cross-examination by defence counsel Wan Aizuddin Wan Mohammed on attempts to repatriate 1MDB funds which were purportedly invested overseas in 2014.

Aizuddin’s line of questioning was on why Hazem did not put on record, during a 1MDB board meeting on Feb 27, 2014, that the funds overseas supposedly belonged to Umno. The witness testified that he attended the meeting as well.

The prosecution contends that billions of ringgit of 1MDB funds were funnelled out overseas in a convoluted money trail...