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Tuesday, July 7, 2015

WSJ posts documents that detail 1MDB money trail

PETALING JAYA - The Wall Street Journal (WSJ), which broke the news about US$700 million (RM2.6 billion) of funds being allegedly transferred to private bank accounts of Prime Minister Datuk Seri Najib Abdul Razak, has now posted documents online that detail the money trail.

These include a remittance form, a letter to authorise cash deposits and three charts outlining the flow of the money.

The documents involved Affin Bank and AmBank and their Islamic subsidiaries as well as the Zurich-based Falcon Private Bank.

For reasons unknown, some figures such as the account codes and sender numbers were blacked out in the documents.

A January 2014 letter on the power of attorney over three bank accounts under AmIslamic Bank Berhad was also provided.

According to the documents, the flowcharts and bank documents uploaded by WSJ relate to transactions in March 2013, December 2014 and February 2015 that purportedly ended up in Najib's accounts.

The WSJ documents detailed three transfers which were all done under the name of the applicant, Ihsan Perdana Sdn Bhd, and total transactions amounted to RM42 million.

In a report last Friday, the WSJ claimed that a money trail showed that US$700 million (about RM2.6 billion) was moved between government agencies, banks and companies before allegedly ending up in Najib's accounts.

Najib denied taking any funds for personal gain and accused former premier Tun Dr Mahathir Mohamad as being responsible for the latest "lie".

On Sunday, Najib said he was considering suing WSJ, describing the accusation against him as "criminal defamation".

The WSJ has since said that it stands by its report.

The international business daily said it possessed "solid" documents to back its claim.

The US daily claimed to have sighted documents from Malaysian investigators currently scrutinising the troubled 1Malaysia Development Berhad's (1MDB) financials, adding that these formed the basis of its report.

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