KUALA LUMPUR: The civil suit filed by 1MDB against former prime minister Najib Razak began today, with the company seeking to recover about US$5.64 billion from him and several others over the alleged misappropriation of its funds.
In his opening statement, lead counsel Lim Chee Wee, representing 1MDB and four of its subsidiaries, told the High Court that the plaintiffs would prove through documentary and witness evidence that Najib was at the centre of the 1MDB fraud, which resulted in losses of about RM51.4 billion.
“The total losses incurred stand at approximately RM51.4 billion. The government, and by extension the ordinary people, continue to shoulder this immense burden,” he said.
Lim said the plaintiffs had brought eight causes of action against Najib: fraud, negligence, breach of fiduciary duty, breach of trust, conspiracy, misfeasance in public office, unjust enrichment and knowing receipt.
He said that under Najib’s leadership, 1MDB carried out a series of fraudulent transactions that were executed with undue haste, with the assistance of fugitive financier Jho Low, whose real name is Low Taek Jho.
“Najib Razak was assisted by Low, who held no official role in 1MDB’s management but often issued detailed instructions and directions on Najib’s behalf and spoke on behalf of Najib on 1MDB-related matters,” he said.
Lim told the court that US$30 million was transferred into Najib’s AmBank account in 2012, followed by US$681 million in 2013 and another US$1.27 million in 2014.
He said the allegedly misappropriated funds were also diverted for the benefit of several individuals, including Low and his family, who allegedly received about US$1.03 billion.
He added that Najib’s stepson, Riza Aziz, allegedly received funds to finance a Hollywood film, while funds linked to Najib’s wife Rosmah Mansor were allegedly used to purchase luxury goods.
Lim said substantial portions of 1MDB’s bond proceeds and loans were also diverted to shell companies.
He told the court that the alleged misappropriation took place in four phases: the Good Star phase involving US$1.83 billion, the Aabar phase involving US$1.367 billion, the Tanore phase involving US$1.591 billion and the Options Buyback phase involving US$856.3 million.
Six witnesses to testify
Lim said the plaintiffs intended to call six witnesses, including Richard Templeman, director of investigations at global financial and risk advisory firm Kroll Advisory Ltd, who would testify on the flow of funds.
Another Kroll witness, Angela Barkhouse, will testify on the role of liquidators and efforts to obtain evidence.
Former 1MDB president and CEO Shahrol Azral Ibrahim Halmi will testify on the various phases of the alleged fraud, while former 1MDB general counsel Jasmine Loo will also give evidence on the same matter.
1MDB director Hisyamuddin Awang Abu Bakar will testify on the quantum of losses allegedly suffered by the plaintiffs, while former Public Accounts Committee member Tony Pua will testify on events from 2018 onwards that led to the filing of the suit.
1MDB and its four subsidiaries – 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified Investment Company Limited – filed the suit on May 7, 2021.
The suit also names former 1MDB CEO Nik Faisal Ariff Kamil and former executive director of business development Casey Tang, both of whom remain untraceable.
The other defendants are Loo, former deputy chief financial officer Terence Geh, former chief investment officer Vincent Beng, former chief operating officer Radhi Mohamad and former director of investments Kelvin Tan.
The plaintiffs are represented by Lim, Lee Shih, Nathalie Ker, Raphael Kok, Henna Nikita Sanghvi, Ignatius Joel Nathan, Akhmal Amaluddin Mat Aris and Lim Zhi Ying.
Najib is represented by Shafee Abdullah and Farhan Shafee.
The hearing before judicial commissioner Redzuan Idrus continues.
On Dec 26, 2025, the High Court sentenced Najib to 15 years’ imprisonment and fined him RM11.387 billion after convicting him in the 1MDB criminal trial.
His prison sentence is scheduled to begin in 2028 after he completes his six-year jail term in the SRC International case.
