KUALA LUMPUR: Former Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz on Monday (Aug 28) revealed at the High Court here that the central bank had in fact recommended a penalty amounting to RM23mil against 1Malaysia Development Berhad (1MDB) but the Attorney-General (AG) then reduced the fine to RM15mil.
The 76-year-old witness said, in order to impose a penalty, Bank Negara needed the consent or permission of the AG at the material time.
The 46th prosecution witness said this when asked by Datuk Seri Najib Tun Razak’s lead counsel Tan Sri Muhammad Shafee Abdullah at the former premier’s trial involving alleged misappropriation of RM2.3bil of 1MDB funds.In her witness statement, Zeti mentioned that the inability of 1MDB to bring the monies back and to provide evidence on the status of the funds, resulted in a compound being imposed on the sovereign wealth fund. 1MDB paid the compound on May 25, 2016.
Once again, Zeti maintained that the central bank did not conduct due diligence on individual accounts, and that was the duty of the respective financial institution.
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