Datuk Seri Najib Razak clarified that he knew about the 1MDB transactions that he signed, but insisted that he was not aware of what happened to the investment fund’s money once it was paid out to the company’s joint venture partners. — Reuters pic

KUALA LUMPUR, June 30 — Datuk Seri Najib Razak claimed that people have “intentionally misinterpreted” news agency Reuters’ interview with him to portray him as not being aware of major 1Malaysia Development Berhad (1MDB) transactions and investments.

The former prime minister clarified that he knew about the 1MDB transactions that he signed, but insisted that he was not aware of what happened to the investment fund’s money once it was paid out to the company’s joint venture partners.

“What I meant is I was aware of the major investments and transactions, yes, but once the transactions and investments have taken place, subsequently, I was not aware, because that is the implementation stage, as well as some of the investments, were done overseas.

“That’s what I meant. I didn’t mean that I didn’t know everything. That was not correct,” he was quoted saying by Malaysiakini in an interview with the news portal.

“What I meant was that after the money was paid by 1MDB to third parties, I was not aware of what happened to the funds as it was beyond my control or knowledge, especially since these third parties and transactions were overseas,” he said.

In the same interview, Najib denied blaming the 1MDB board of directors, but said he expected them to fulfil their legal duties.

“I didn’t blame it on them. What I said is that everybody has a certain responsibility and the board and the management have fiduciary duties, and I expect them to do their duties.

“As long as they have done their duties as stated by the law, then that’s fine. That should be the case.

“And I have my own responsibilities as well, that is what I meant. So whatever has happened has to be seen in this context of the evidence and the responsibility as prescribed by the law,” he was quoted saying.

Najib, who was the chairman of 1MDB’s advisory board, said his role in the company was just an “advisory role”.

He said that any 1MDB investments and transactions that he signed off to would have to first go through due diligence by others such as the 1MDB management.

“When I sign on, it still has to go through the process of due diligence. For example, if there is an investment decision, then the management will have to go through the proper processes for the investment.

“Only when it has gone through the process, then whatever is required in terms of a formal signature will be done,” he said.

“Mind you, on a daily basis, when you run a government, you have so many documents you have to sign. It is impossible to know every single detail, so you have to rely on others.

“But I am not shirking my responsibilities, no, but everybody has to play their part in the whole process,” he added.

In a Reuters interview published on June 20, Najib said the 1MDB board should have told him if something was wrong.

He had also then claimed and since reiterated that he was not aware of the alleged use of 1MDB funds to buy items such as a yacht and paintings, saying that such purchases were done without his knowledge and that he would have never approved 1MDB funds for such items.