Ex-CEO Hazem: Something felt amiss about 1MDB's overseas funds status, but I did not report out of fear1MDB former CEO Mohd Hazem Abd Rahman is pictured at the Kuala Lumpur Court Complex on September 14, 2020. — Picture by Hari Anggara
Mohd Hazem, who was 1MDB’s CEO from March 2013 to 2015, said he felt pressure to make decisions over the company’s investments and loans, noting 1MDBs problematic finances as it had taken on too many domestic and foreign debts based on Low Taek Jho’s plans that he felt could never be repaid. Mohd Hazem said that Low Taek Jho — who he described as Najib’s trusted right-hand man and proxy for 1MDB affairs — had instructed for matters relating to overseas fund-raising and investments to be handled by Low’s alleged own proxies in 1MDB — Jasmine Loo and Terence Geh.
Mohd Hazem said he had also asked 1MDB board of directors’ then chairman Tan Sri Lodin Wok Kamaruddin to bring the matter to Najib’s attention, but was told in 2014 that Najib had informed Lodin that the overseas funds could not be brought back even as 1MDB faced constraints in repaying a RM2.5 billion debt to Maybank then.
“I have never reported this matter to the authorities to be investigated as I respect and fear Datuk Seri Najib as the prime minister of Malaysia who is the sole shareholder and holder of the absolute power in 1MDB, and I was also afraid that my career will be affected, although at the same time I raised worries regarding MOF Inc that was the guarantor for 1MDB’s loans,” he said.
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