The Malaysian Insight

THE prosecution in Najib Razak’s SRC International trial never established the source of the RM42 million in his accounts, the former prime minister’s defence lawyers told the court during submissions today.

Defence counsel Harvinderjit Singh said that prosecutors never showed proof that the RM42 million originated from the Retirement Fund Inc (KWAP) RM4 billion loan to SRC International.

The lawyer further argued during his oral submission that the money was the result of “theft” by unknown persons. 

Harvinderjit argued the RM42 million has not been proven to belong to SRC International and that the RM4 billion from the KWAP loan was completely disbursed.

The RM42 million that went to Najib’s accounts between December 2014 and February 2014 had come from unknown sources, he further argued.

“From where? Nobody knows. The prosecution has said it doesn’t matter where the money came from and that the RM42 million that went into his (Najib’s) account is sufficient.

“We just want to take the independent facts and show that there was no CBT (criminal breach of trust) on my client’s behalf,” Harvinderjit said.

Prosecutors have argued that Najib’s RM42 million, received in 2014 and 2015, were linked to loans from KWAP, which were issued in 2011 and 2012 to SRC International. 

SRC International was a subsidiary of 1Malaysia Development Bhd (1MDB).

Harvinderjit said, however, that it was established during the trial that 1MDB intermediary Low Taek Jho, commonly known as Jho Low, and other executives had acted outside their mandated roles in 1MDB and that of SRC International as the state investor’s subsidiary.

The prosecution submitted that Low had acted jointly with former SRC International CEO Nik Faisal Ariff Kamil and Najib’s late private secretary Azlin Alias to ensure there was sufficient funds in Najib’s bank accounts so that cheques were not dishonoured.

Harvinderjit contended that the trio were in a scheme that did not involve Najib.”

“The prosecution said that all these people were just tasked to get the money and Najib doesn’t care where the money comes from. However, the fallacy is that this is the prime minister and if one cheque bounces, it would be quite an embarrassing situation.”

He said there was sufficient evidence to establish that the RM42 million in transactions were related to a joint CBT act carried out by Low, Nik Faisal and other persons, with no involvement of Najib.

Najib was charged with three counts of CBT, three counts of money-laundering and one count of abuse of power. If convicted, he faces up to 20 years imprisonment. 

Under his three CBT charges, Najib, as a public servant and agent, namely prime minister and finance minister, and adviser emeritus of SRC International, allegedly misappropriated RM27 million and RM5 million respectively of RM4 billion belonging to SRC.

He was charged with committing the two offences at AmIslamic Bank Bhd, Ambank Group Building, No 55, Jalan Raja Chulan Kuala Lumpur, between December 24, 2014, and December 29, 2014.

On the third count, Najib allegedly misappropriated another RM10 million of RM4 billion belonging to SRC International at the same place between February 10, 2015, and March 2, 2015. 

The three charges are framed under Section 409 of the Penal Code which provides imprisonment for up to 20 years.

Najib, who turns 67 next month, is represented by a dozen lawyers led by Muhammad Shafee Abdullah.

The SRC International trial is in its final stage. Upon the conclusion of the defence’s oral submissions, the prosecution will take its turn via ad hoc prosecutor V. Sithambaram. Presiding judge Mohd Nazlan Mohd Ghazali will later fix a date to deliver his verdict. – June 2, 2020.