Wan Aizuddin repeatedly questioned the witness on why the US$3bil was never utilised, but 1MDB had taken up another loan instead. Wan Aizuddin: Since this money was earmarked for the purported JV but the JV did not materialise at that time. The defence then pressed Shahrol on the fact that 1MDB was already in debt but took loans nevertheless. Earlier, the witness was questioned on the purported JV between 1MDB and Aabar, which the defence claimed to be a scam. Wan Aizuddin: Billions of dollars had been embezzled from the US$3bil raised which was actually for the purpose of the purported JV.

Source: The Star September 01, 2020 11:48 UTC