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Ex-CEO says Jho Low gave RM70,000 to increase TIA

KUALA LUMPUR – Former 1MDB CEO Shahrol Azral Ibrahim Halmi told the High Court that Fugitive financier Low Taek Jho had given a cash advance of RM70,000 to increase the share capital of Terengganu Investment Authority Berhad (TIA).

He said TIA’s secretary Lim Poh Seng told to ask for the fund for this purpose and were deposited straight into Shahrol’s account.

Shahrol was CEO of TIA Shahrol before the government took over. He utilised the money to sponsor orphans to watch an ‘Upin & Ipin’ musical theatre performance at Istana Budaya.

The trial continues before High court judge Collin Lawrence Sequerah. Najib faces 25 charges in a total of money laundering and abuse of power charges over alleged 1MDB funds.

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