| Prime Minister Najib Abdul Razak has implied that he was not involved in the transfer of US$3.5 billion from 1MDB to a British Virgin Island entity it believed was a subsidiary of International Petroleum Investment Company (IPIC).
This is because, Najib said, his signature as prime minister under Article 117 of 1MDB's memorandum and article of association (M&A) was not needed in the transaction. "For your information, 1MDB has made a number of payments amounting to US$3.51 billion to Aabar Investments PJS Limited. "All the payments made were based on the agreement inked and all the management action in such context was done according to the instruction and approval of the board of directors…," he said...............................................Full Article: Source
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