He said this in response to ad-hoc prosecutor Gopal Sri Ram when asked, during re-examination, about the allegation by the defence that Shahrol had conspired with fugitive businessman Low Taek Jho to embezzle 1MDB funds.
“Based on the documents in court and those shown to me during investigations, some of the beneficiaries were Jho, Jasmine Loo, Casey Tang, Tarek Obaid, Patrick Mahony, Khadem al-Qubaisi, Mohamed Badawy Al-Husseiny as well as Datuk Seri (Najib),” he said.
Shahrol was referring to former 1MDB general counsel Loo Ai Swan, former executive director Tang Keng Chee, Petro Saudi International’s directors Tarek and Mahony, as well as former IPIC CEO Khadeem and former Aabar Investments PJS CEO Badawy.
Sri Ram asked Shahrol if he had benefitted financially from 1MDB’s joint venture with Petro Saudi International, independent power plants purchases, as well as the Tun Razak Exchange and Bandar Malaysia projects.
“Not at all,” Shahrol said.
The lawyer then showed Shahrol a series of transactions in March 2013, detailing payments made from 1MDB Global Investments Ltd to several entities, before part of the money or US$681 million ended up in an Ambank account.
Sri Ram: Was the Ambank account ending in 694 yours?
Shahrol: No
On Sri Ram’s questions about Low’s purported instructions and why he did not take steps to check with Najib on their authenticity, Shahrol said instructions Low had given in his “talking points” were “consistent with the action or subsequent action of the shareholder (Najib)”.
Shahrol also said that during a company trip in November 2009 to meet Goldman Sachs bankers in New York, Najib did not enquire about the US$700 million paid in October to Low’s company, Good Star Ltd.
To questions about charges levelled against Low, Loo, and Goldman Sachs bankers for allegedly omitting certain facts in issuance of the US$6.5 billion bonds here, Shahrol said he only knew about the charges being brought to court after he left 1MDB.
Sri Ram: To the best of your knowledge, did the accused (Najib) take steps to bring charges against Jho Low?
Shahrol: No
Shahrol also told the court that Najib was 1MDB’s ultimate figure during the time he served in the company, as the latter was the company’s shareholder and Board of Advisers chairman.
“We received instructions from him via Jho from the beginning,” he said.
The hearing continues before judge Collin Lawrence Sequerah on Sept 7, with Shahrol’s successor Mohd Hazem Abdul Rahman slated to testify.
Hazem was 1MDB CEO from March 2013 to January 2015. He was later replaced by Arul Kanda Kandasamy.