KUALA LUMPUR: Former Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz told the High Court that the central bank took seven years to discover that some US$700mil from 1Malaysia Development Bhd (1MDB) coffers were diverted to Good Star Ltd, a company linked to Low Taek Jho or Jho Low.
"It is very common to find out from financial regulators worldwide as it takes years to detect such cases.
The 46th prosecution witness was answering a question from former prime minister Najib Razak's lead counsel, Tan Sri Muhammad Shafee Abdullah, who remarked that seven years was"a long time". The US$700mil was part of a US$1bil remittance that was supposed to go into two accounts; US$300mil into a JP Morgan SA account for 1MDB Petrosaudi Ltd and US$700mil into an RBS Coutts Bank Ltd account for PetroSaudi International Ltd, for the purpose of a joint venture between 1MDB and PSI.
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