SRC TRIAL | The Kuala Lumpur High Court has ordered Najib Abdul Razak to defend himself against all seven charges in relation to SRC International Sdn Bhd.
The onus is now on the defence team to prove reasonable doubt in the cases established against him faling which the former premier would be convicted.
On the first charge for abuse of power, Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali ruled that Najib played a role in SRC International's RM4 billion loan from Retirement Fund Incorporated (KWAP) in 2011.
The judge also ruled that Najib later used RM42 million from SRC International for his own advantage.
"A series of acts separated by the interval of time can amount to one transaction in continuation of a single plot.
"The establishment of SRC in 2011 sowed the context of the scheme. (The accused's) act amounts to an abuse of position which materialised when RM42 million was received by him in 2011 and 2012," ruled the judge.
If found guilty under Section 23 of the MACC Act 2009, Najib will face a maximum 20-year jail term and a fine five times the value of the gratification.
On the three charges for criminal breach of trust, the judge ruled that the accused was not entitled to the RM42 million deposited in his account.
"(There were) transfers out of SRC without any valid basis or explanation and credited into the accused's account... SRC was wrongfully deprived of the RM42 million.
"The RM42 million transferred into the accused's account is wrongful gain by the accused and utilised for personal purposes (whereby) personal cheques amounting to RM10.7 million (were issued) and confirmed by the payees," said the judge.
At the material time, SRC International was a subsidiary of 1MDB. Subsequently, it was transferred to the Ministry of Finance (MOF) Inc. Najib was also the former finance minister.
If found guilty under Section 409 of the Penal Code, Najib, for each charge, can be jailed up to 20 years and fined. The minimum jail sentence is two years.
On the three money laundering charges, Justice Nazlan ordered the accused to enter defence by ruling that the RM42 million proceeds originated from unlawful activity, as established in the CBT charges.
"(Therefore) when the RM42 million flowed into the accused's account, the proceed is an unlawfful activity.
"I (believe) the accused knew the RN42 million is proceeds of unlawful activity or that the accused failed to take reasonable steps to ensure the proceeds are not from unlawful activities.
"There was no complaint to (the) bank or (any) police report. As such, all ingredients of money laundering in all three charges have been proven," ruled the judge.
If found guilty under under Section 4(1)(b) of Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, Najib can be jailed up to 15 years, fined up to RM5 million or 5 times the amount involved for each charge.
[More to follow] - Mkini
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