Did Habib Jewels act in good faith with 1MDB funds?

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Habib Jewels Asserted All Transactions With 1MDB Were Conducted in Good Faith

Habib Jewels Sdn Bhd has stated that all its dealings with 1Malaysia Development Berhad (1MDB) were conducted in good faith and are supported by the necessary documentation. The company made this assertion in response to being named by the Malaysian Anti-Corruption Commission (MACC) among 41 entities alleged to have received funds from 1MDB. Habib Jewels has also indicated its readiness to cooperate fully with authorities.
Transactions Conducted in Good Faith and Supported by Documentation

Habib Jewels Sdn Bhd has officially confirmed that all its transactions involving 1MDB were carried out with integrity and are substantiated by legitimate paperwork. This statement addresses the company's inclusion in a list by the MACC of entities that allegedly received funds originating from 1MDB. The company stressed that these transactions, regardless of their current subject of investigation, are backed by proper documentation.
No Formal Notice Received

The jeweller has also clarified that it has not yet received any formal notification or notice concerning the MACC's allegations or the ongoing investigations. This lack of formal communication is a key point in their response to being named in connection with the alleged dispersal of 1MDB funds.
Commitment to Full Cooperation

Habib Jewels has expressed its full commitment to cooperating with any and all relevant authorities involved in the matter. This pledge of cooperation signifies the company's intention to assist in the investigation process and provide necessary information as required.
MACC's Civil Forfeiture Suits

The MACC's announcement mentioned filing 41 civil forfeiture suits aimed at recovering approximately RM270 million. These funds are understood to have been dispersed from the AmBank account of former prime minister Datuk Seri Najib Razak, and are linked to 1MDB. The lawsuits were reportedly filed against a range of individuals and entities, including political parties.

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Did Habib Jewels act in good faith with 1MDB funds?

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