1MDB trial: Jho Low contacted me when Najib’s credit cards had issues or when money was coming in, ex-banker says

KUALA LUMPUR, Feb 2 — AmBank’s former banker Joanna Yu today told the High Court that now-fugitive Low Taek Jho was the individual who personally alerted her whenever money was expected to come into former prime minister Datuk Seri Najib Razak’s bank accounts, or whenever Najib’s credit card purchases were unable to go through.

Yu was explaining why she had contacted Low regarding transactions in Najib’s private AmBank accounts, such as in urgent situations to prevent cheques issued by Najib from bouncing due to insufficient funds in the accounts.

As the former AmBank relationship manager who contacted Low or Najib’s authorised account handler Nik Faisal Ariff Kamil, Yu was testifying as the 41st prosecution witness in Najib’s trial over the misappropriation of 1Malaysia Development Berhad’s (1MDB) RM2.28 billion which allegedly entered his personal AmBank accounts.

Najib’s lead defence lawyer Tan Sri Muhammad Shafee Abdullah today repeatedly questioned Yu on why she had contacted Low instead of the authorised account holder Nik Faisal.

For example, Shafee highlighted text records on September 10, 2014, when Yu texted Low via BlackBerryMessenger (BBM) regarding a RM4.7 million cheque which was issued when there was barely RM1 million in Najib’s account.

Explaining why she did not call Nik Faisal over her concerns that Najib’s cheque would not be honoured, Yu said the bank branch would call Nik Faisal and she would then contact Low if the matter could not be resolved.

“If we can’t get hold of Nik or if there’s nothing being done, we called Jho,” she explained.

She noted that Low — better known as Jho Low — had insisted that Najib’s cheques could not be allowed to bounce, and that the bank had to call someone as the cheques would otherwise bounce.

Shafee then confronted Yu by asking why she kept on contacting Low regarding Najib’s accounts when he is not a mandate holder, or not a person whom Najib had given written authorisation to handle his personal AmBank accounts.

Yu pointed out that Low was the one who had got Najib’s accounts to be opened at AmBank, alluding to how he had told her that Najib intended to open accounts with the bank.

“And then when Jho brought the account to the bank, it was only Jho I had contact with. In many instances when account is overdrawn or Datuk Seri Najib is issuing cheques or money is incoming, Jho is the one who informed me. I take it — I had no doubt that Jho was in touch, in contact with account holder,” she said.

“Or we had Jho contact me, MNR credit card has issues, he made some purchases and cannot go through, can you resolve the credit card? So I had no doubt in my mind Jho was in contact with the account holder to ensure cheques don’t bounce and there’s funds coming into his account,” she said when stressing that was why she did not doubt Low had contact with Najib,” she explained.

Shafee then claimed that Yu’s answer was illogical, suggesting that Najib would not have signed cheques that exceed the amount available in bank accounts if Low was in touch with Najib as Low could have checked with Yu on the account’s status.

Agreeing that the presumption would be that Najib issued cheques thinking there is enough money in his account, Yu however said she would not be able to actually confirm this as she did not know how Najib’s accounts were being managed.

She agreed that Najib’s bank accounts were badly managed, and said it would be managed by Najib himself as the account holder together with Nik Faisal and Low and said she did not know who else was tasked to manage them.

Yu said she had the impression that no one was tracking which of Najib’s AmBank accounts were being used to issue cheques, as the fund shortages at times involved situations where the cheque was being issued from one account when the money was actually in another account. Najib had four current accounts and one savings accounts and two credit cards with AmBank, she said.

Former AmBank manager Joanna Yu was seen at the compound on 1 Malaysia Developement Berhad (1MDB) at Kuala Lumpur Court Complex February 2, 2023. — Picture by Sayuti Zainudin

Shafee today referred to multiple past text conversations over BBM between Low and Yu, including on January 13, 2015 regarding Low’s intention to deposit cash of RM2.27 million over the bank counter into one of Najib’s accounts as it was overdrawn by over RM2 million and to prevent a cheque issued by Najib from bouncing.

Other BBM messages referred to were in October 2014 regarding Low’s instructions not to send Najib’s bank account statements to the latter, with Yu explaining that AmBank was instructed by Najib that Nik Faisal would be authorised to collect the statements.

Another set of BBM messages referred to was on July 8, 2014 when Low informed Yu that “Eagle 27” or a purported “donation” of RM27 million was incoming into Najib’s AmBank account which was codenamed “1MY” as Najib was going to issue cheques from the account.

Yu said Low had a habit of calling bankers over to his apartment instead of going to the bank. — Picture via Facebook

Shafee then cited Low’s previous statement to the Malaysian Anti-Corruption Commission (MACC), where Low had denied even talking to Yu through the BBM messages.

Yu confirmed she was surprised over Low denying the conversations that he had with her over BBM, and over Low telling MACC he had nothing to do with bringing Najib’s account to AmBank or arranging it to be opened there.

Shafee: Would you be surprised if he said, to the best of my recollection, I don’t know who is the owner or holder of account AmPrivate 1880, I don’t have access or authorisation for this account. To the best of my recollection, I have not sent any messages or instructions to anyone about this transaction including Joanna Yu at AmBank. But just concerning you, are you surprised he denied even communicating to you to give instructions to you with regards to Datuk Seri Najib’s account?

Yu: Yes.

Shafee: Because that’s not true isn’t it, because he did communicate with you on many, many occasions?

Yu: Yes.

Among other things, Yu today confirmed she does not know and have never dealt with Eric Tan, who is said to be a close associate of Low.

Yu also confirmed that Low had in the past repeatedly tried to ask her to work for him and to also bring over her team from AmBank, but said she had politely declined without directly saying no and by saying she would think about the matter.

Explaining BBM messages in November 2013 between her and Low, Yu confirmed that Low had tried to offer her two units of iPhone 5s as Christmas gifts, but stressed that she had told him she did not need the phones and clarified that she did not take those phones. Najib’s 1MDB trial before judge Datuk Collin Lawrence Sequerah resumes tomorrow morning, with Shafee expected to further cross-examine Yu.