Datuk Seri Najib Razak testified today that he was neither informed nor able to carry out an independent verification of RM3.6 billion in funds disbursed from SRC International Sdn Bhd, which were subsequently utilised and lost.

Najib is testifying as the first defendant in SRC International’s US$1.18 billion (RM5.58 billion) ongoing civil suit against him at the Commercial High Court.

The RM3.6 billion was part of the RM4 billion loan from the Retirement Fund Incorporated (KWAP) — a statutory body that manages the pension scheme for Malaysia’s civil servants — which was disbursed in two RM1.8 billion tranches by SRC International.

In his testimony, Najib said he lacked any position or power in the corporate governance structure to undertake any transactions for SRC International.

“As noted in my earlier answers, I do not have any control over the movement and utilisation of SRC funds, save for ratifying a decision made by the board, who are expected to conduct the necessary due diligence,” he said.

Najib also stated that he had no “fiduciary obligations” over the utilisation of the funds and proposed investments under his positions.

Under cross-examination by lawyer Datuk Lim Chee Wee, Najib agreed that Cabinet members had a fiduciary duty to act for the public good.

Former prime minister Najib, who was also finance minister at the time, was SRC International’s sole and exclusive shareholder by way of Minister of Finance (Incorporated).

Najib also agreed with Lim that members or officers of the public administration must ensure there is no conflict between public and personal interest.

The hearing resumes before Judge Datuk Ahmad Fairuz Zainol Abidin tomorrow.

Imprisoned since August 23, 2022, Najib is serving a 12-year jail sentence and RM210 million fine for his conviction over the misappropriation of SRC International’s RM42 million funds, which has recently been reduced to six years in jail and a RM50 million fine by the Pardons Board.

SRC, under its new management, sued Najib and its former directors Datuk Suboh Md Yassin, Datuk Mohammed Azhar Osman Khairuddin, Nik Faisal Ariff Kamil, Datuk Che Abdullah @ Rashidi Che Omar, Datuk Shahrol Azral Ibrahim Halmi, and Tan Sri Ismee Ismail in May 2021.

However, it later removed six names from the suit but retained Najib as the defendant.

Additionally, Najib has brought the former SRC International directors as third-party respondents.

SRC, as a plaintiff in the writ of summons, has alleged that Najib abused his power and obtained personal benefits from SRC International’s funds, as well as misappropriated the funds. Najib was SRC’s Emeritus Adviser from May 1, 2012, until March 4, 2019.

https://www.malaymail.com/news/malaysia/202...18b-suit/151620

Everything also don't know, but he, his wife and his kids can spend money freely without worries.

Any common man on the street trying to pull this excuse will get punished by LHDN.

Ya right, still the same “aku tak tahu” reason.

Spent the money tho

Piece of shit ex PM who never take responsibility of his shit

Trash like this still Worship as National Hero in /k
Imagine what kind of people worship lapsap like this.

I really looked down people who dont value Integrity.

Go shopping, buy yachts, happy. Asked about the money, dont know how it comes

Nyanyuk ke? Dlm fb semua tau.

He born rich, bangsawan, whole life is normal to spend like water. You don’t expect him to know the details of the money income, that’s for his accountant to handle owai

In court everything don’t know, in Facebook everything know

Mistakes in tax submission cannot be easily brushed off as accountant or tax agent mistakes.

There is a thread from 2018 here about such woes, I don't know if it was finally resolved:

Wrong Income Tax Declaration Made by Accountant
https://forum.lowyat.net/topic/4558801/all

In the other SRC case which the client aka. Najib jailed for waiting 3-4 years for the CSR money. How to know if even Ambank banker too shamelessly telling the story she follow Jho Low order to hide account report to their client. Imagine a witness telling her crime openly and still just a witness? tell that in US court, banker go to jail first instead of their client. Shameless Malaysia Justice System.

This post has been edited by yongku99: Sep 25 2024, 09:12 PM

That is true. He never worry about money. He just spend, the money will magically appear. I doubt he ever looks at any price tag.

Regardless. 3.6 billion ringgit subsequently lost? Lost to where? Niama that amount of money sure can trace one its not possible to launder it like put cash in suitcase

This post has been edited by diffyhelman2: Sep 25 2024, 09:14 PM

Same old answers

a defense of merely denial again. dalam court memang semua x tau. sape pakai akaun dia pun x tau. kat fb semua pun tau

kek

What he know 🤔

There's a management,board and banks hired to do it. Just like in Swiss court, those two Jho Low Petrosaudi friend doing it themselves laundering it here and there,fooled even the real Petrosaudi owner which is the son of Saudi King itself.

Dia tak tau kenapa duit dia tak habis habis