1MDB’s US$110 million transfer to PetroSaudi raised no red flag, court told
Former prime minister Najib Razak is standing trial for corruption over the misappropriation of RM2.28 billion in 1MDB funds. – The Malaysian Insight file pic, June 9, 2022.
A DEUTSCHE Bank Bhd internal check revealed no red flag when 1Malaysia Development Bhd funds were transferred to a foreign account in 2011, the Kuala Lumpur High Court heard today. Its assistant vice-president, Fatehah Md Salleh, said a background check was conducted before the US$110 million was wired to the PetroSaudi International Ltd account in RBS Coutts Bank Ltd on May 27, 2011.
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