Former 1MDB CEO Arul Kanda Kandasamy testified in court that he met fugitive financier Jho Low in Abu Dhabi four years before joining the state investment fund. He also revealed that Jho Low had proposed an investment on Al Maryah Island, a financial district in Abu Dhabi. Kandasamy stated that he met with other individuals linked to the 1MDB scandal, Khadem Al Qubaisi and Mohammed Badawy al Husseiny, in Abu Dhabi.
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The first defendant was responding to a question from 1MDB’s counsel Datuk Lim Chee Wee during the hearing of the US$6.59 billion lawsuit against him and former chairman of the board Tan Sri Mohd Irwan Serigar Abdullah.During the time you were in the Middle East...You were in, Abu Dhabi, and you would have met many prominent business people and investors...
“Then I emailed my resume to Ashvin. I was interviewed by the then chairman of 1MDB, Tan Sri Lodin Wok Kamaruddin, and former director of 1MDB Tan Sri Ismee Ismail. I also had a phone interview with the then-CEO of 1MDB, Datuk Shahrol Azral Ibrahim Halmi. In May 2021, 1MDB filed a lawsuit against the two individuals, accusing them of breach of trust and conspiracy, which led to losses of US$1.83 billion, linked to the company’s investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into the Brazen Sky Limited investment, purportedly recoverable from the Bridge Global Fund.
Consequently, 1MDB is seeking US$6.59 billion in damages from both defendants and an additional RM2.9 million from Mohd Irwan related to the extension of the employment agreement.
1MDB Jho Low Arul Kanda Abu Dhabi Investment
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