KUALA LUMPUR: The former general counsel of 1Malaysia Development Berhad (1MDB) today admitted at the High Court that she received a gift of RM100 million from the fugitive businessman Low Taek Jho or Jho Low after she left the company.
Jasmine Loo Ai Swan, 50, who resigned from 1MDB in 2013 said she received the money in 2014 and she held the money in trust and subsequently ended up as the beneficiary.
The 50th prosecution witness said this when questioned by Datuk Seri Najib Tun Razak’s lead counsel Tan Sri Muhammad Shafee Abdullah at the former premier’s corruption and money laundering trial involving RM2.3 billion of 1MDB funds.
Muhammad Shafee: Did he give you RM100 million as someone who had acted as legal advisor to 1MBD?
Loo: I only held the money in trust.
Muhammad Shafee: Did you end up as a beneficiary?
Loo: Yes, it was a gift.
Loo then said the money was for an investment agreement that she had with Jho Low in his company.
Apart from that, Loo also testified that she had kept another US$4.5 million deposited by Jho Low in her account for the purchase of a statue although the deal was unsuccessful.
She said she was the intermediary in the deal as Jho Low asked her to get the statue to be presented to Prince Faisal Turki Al Saud.
The deal however failed as Jho Low changed his mind and the money remained in Loo’s account as she was not given any instruction by Jho Low pertaining to the money.
Loo, however, disagreed with the suggestion that she kept the money conveniently because it was paid for her ‘work’ in 1MDB.
Meanwhile, Loo also confirmed that she has since reassessed her income with the Inland Revenue Board (IRB) and is currently paying back taxes on all her excess income.
She said she began negotiations with IRB in 2020 and 2021 before she returned to Malaysia. The negotiations involve a sum of RM2.5 million.
Today, the court also heard about Loo’s illegal entries in Myanmar and how Jho Low helped her during her stay in the country from 2019 and 2023.
“I was told by Jho Low that my passport would be stamped by the Myanmar military. However, it was not done and I was arrested by the military. Later on, I obtained a fake passport with the help of Jho Low and I moved freely in the country,” she said.
At this juncture, deputy public prosecutor Mohamad Mustaffa P. Kunyalam objected to the line of questioning as it was irrelevant to the charges faced by Najib. However, Judge Datuk Collin Lawrence Sequerah dismissed it and allowed the defence to proceed with the matter.
Muhammad Shafee: Ms Loo, from what I have been questioning you from this morning, I’m putting it to you that you are trusted and most trusted of the gang of con men headed by Jho Low.
Loo: I disagree.
Najib, 70, faces four charges of using his position (as prime minister) to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The trial continues on April 22.
