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Najib found guilty of all charges in SRC trial
Published on: Tuesday, July 28, 2020
By: The Edge Markets
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Photo: Bernama
Kuala Lumpur: Former premier Datuk Seri Najib Razak has today been found guilty by the High Court here of all seven charges of abuse of power, criminal breach of trust and money-laundering in relation to RM42 million belonging to SRC International Sdn Bhd.

In delivering his verdict, High Court judge Justice Mohd Nazlan Mohd Ghazali said the case had been proven beyond reasonable doubt as the defence failed to rebut the prosecution's case.

The former premier is the most senior member of the executive branch of the previous Barisan Nasional government to be charged in court.

Najib was slapped with three criminal breach of trust (CBT) charges — as a public servant and agent of the government, namely the PM, finance minister, and SRC International advisor emeritus, he had misappropriated RM27 million and RM5 million in Dec 2014, and another RM10 million in Feb 2015.

The funds are part of two loans from the Retirement Fund, Inc (KWAP) to SRC that are worth a total RM4 billion.

The three charges were made under Section 409 of the Penal Code which provides for a jail term of up to 20 years, whipping and a fine upon conviction.

Meanwhile, he was also charged with one count of abusing his power. Najib, as PM and finance minister, had used his position to commit bribery involving RM42 million through his participation or involvement in the decision to provide government guarantees for the KWAP loans to SRC.

He was charged with committing the offence at the Prime Minister's Office, Precinct 1, Putrajaya,Federal Territory of Putrajaya, between Aug 17, 2011 and Feb 8, 2012, under Section 23 of the MalaysianAnti-Corruption Commission Act 2009.

Under Section 24 of the Act, he faces 20 years' imprisonment, and a fine of not less than five times the amount or value of the bribe, or RM10,000, whichever is higher.

For money-laundering, Najib — who is also Pekan Member of Parliament — was charged with receiving the RM27 million, RM5 million and RM10 million from illegal proceeds into his two AmIslamic Bank Bhd accounts, bearing the numbers 2112022011880 and 2112022011906.

He was accused of committing the offence at AmBank, 55, Jalan Raja Chulan here, between Dec 26, 2014, and Feb 10, 2015. The charge under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001, sees the politician facing up to 15 years in jail and a fine of RM5 million, or five times the amount, whichever is higher, for each charge.


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