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    1MDB ex-JV partner PetroSaudi executive alleged to have received 'mysterious' US$33m - report


      
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    KUALA LUMPUR (April 27): 1Malaysia Development Bhd's (1MDB) former joint venture (JV) partner PetroSaudi International Ltd's chief investment officer Patrick Mahony is alleged to have received a "mysterious" US$33 million fee in October 2009, the UK-based Exaro reported.
    Exaro claimed that it obtained a copy of an e-mailed instruction from PetroSaudi co-founder and chief executive Tarek Obaid for the transfer to Mahony's Swiss bank account.
    Exaro alleged that Obaid e-mailed the instruction to J.P. Morgan in Switzerland.
    "Writing to his 'client service specialist' at the bank, Obaid said: 'Could you please transfer to Patrick Mahony account with you the amount of 33 million USD'," Exaro reported.
    Exaro, owned by ExaroNews Ltd, further claimed that copies of documents it obtained showed that Mahony, 38, had set up an account also at J.P. Morgan in Switzerland earlier in October 2009.
    "His bank statement shows that the US$33 million was the first payment into the account, and was received on Oct 20, 2009. Another bank document describes it as a 'transfer from Tarek Obaid'," Exaro reported.
    Exaro claimed that a copy on Mahony's alleged Swiss bank account showed that "within three months of his US$33 million bonanza, he made a series of transfers to pay just over six million pounds for an elegant house in Ladbroke Square in Notting Hill, London".
    Exaro reported that Mahony and Obaid did not respond to questions by Exaro on the purpose of the money. Mahony's role was unclear, Exaro reported, and when contacted, Mahony "absolutely" denied any impropriety.
    Exaro also quoted a source close to Mahony, Obaid and PetroSaudi as saying there was "no question of their being involved in any missing or misappropriated funds".
    The source also said the US$33 million payment did not relate to the 1MDB-PetroSaudi JV, which was set up in September 2009.
    1MDB said it had terminated its JV with PetroSaudi in March 2010.
    The Malaysian Government via Minister of Finance Inc owns 100% of 1MDB.