Former CEO unaware why 1MDB accused him of fraud in separate suit, court hears

Former 1MDB CEO Shahrol Azral Ibrahim Halmi appeared before the High Court, denying suggestions that he had made a deal with the company in exchange for his testimony. The 56-year-old testified as the fourth witness in 1MDB's US$5.64 billion civil suit against eight individuals, including former Prime Minister Najib Razak. During cross-examination by senior counsel GK Ganesan, Shahrol was questioned about allegations made against him in a separate suit filed by 1MDB against Deutsche Bank and others in August 2021.

Halmi indicated he was unaware of why those allegations had changed and stated that his role was simply to provide the truth, not to assign blame. When asked if his credibility had been undermined by 1MDB accusing him of irregularities, Halmi replied, "I have no comments." The suit, filed on May 7, 2021, named several former 1MDB officials as defendants, alleging breaches of trust, statutory duty, abuse of power, and conspiracy to misappropriate company funds.