Former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi is pictured at the Kuala Lumpur High Court on September 1, 2020. ― Picture by Miera Zulyana
KUALA LUMPUR, Sept 1 ― The board of directors of 1Malaysia Development Berhad never discussed the acquisition of its purported subsidiary, Devonshire Funds Ltd, said Datuk Shahrol Azral Ibrahim Halmi. Testifying against Datuk Seri Najib Razak during his corruption trial today, Shahrol, who is 1MDB’s former chief executive, said the firm’s board of directors had no knowledge of Devonshire and its role despite 1MDB being listed as the “beneficial owner” in transaction documents dated sometime in March 2013.
Shahrol was being quizzed by Najib’s lawyer Wan Aizuddin Wan Mohammed who had shown him documents on numerous transactions carried out by 1MDB Global Investment Limited to Devonshire, amounting to US$646 million and whether the 1MDB board of directors and its sole shareholder, Najib, had any knowledge of the transactions.
Shahrol also stated that the firm’s board of directors had no knowledge of the transactions but stopped short of saying that Najib was also not informed.Shahrol: At the material time of March 2013, did the board of directors approve any acquisition of Devonshire?: You can confirm that this company did not crop up in the board of directors’ meeting?