KUALA LUMPUR: Funds raised from a US$3bil bond issuance purportedly for the development of The Exchange TRX had ultimately been diverted into former Prime Minister Datuk Seri Najib Tun Razak’s bank account, says the judge hearing the 1MDB case.

Justice Collin Lawrence Sequerah (now Court of Appeal judge) who heard Najib’s 1MDB case said that the matter was stated in the testimony by 47th prosecution witness (PW47), Bank Negara Malaysia (BNM) analyst Adam Ariff Mohd Roslan.

The judge said on March 12, 2013, the accused attended the signing ceremony of the joint venture between 1MDB and Aabar Investment PJS amounting to US$6bil that was held at the Prime Minister’s Office.

"The prosecution evidence shows that on March 14, 2013, the accused signed a letter of support (LOS) to raise a loan through the issuance of bonds by 1MDB in the sum of US$3bil.

"On March 19, the disbursement was made immediately by Bank of New York Mellon Group to the 1Malaysia Development Berhad Global Investment Limited’s (1MDBGIL) account.

"The evidence on the speed of the fundraising transaction was given by PW26 (former Finance Ministry deputy secretary-general, Datuk Siti Zauyah Mohd Desa), PW42 (former non-executive director of SRC Datuk Suboh Md Yassin), PW9 (former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi) and PW10 (former 1MDB chief executive officer Mohd Hazem Abdul Rahman),” he said in his 41-page summary judgment.

Justice Sequerah further said that despite the defence allegations of the involvement of others regarding the decision-making process, it was the accused who had taken action in various capacities, namely at the 1MDB stage as sole shareholder, the Finance Minister stage and at the Cabinet stage.