Najib says he, too, wants to know truth of SRC's 'missing' RM4b

SRC TRIAL | Former premier Najib Abdul Razak today disagreed with prosecutors' suggestion that SRC International Sdn Bhd's RM4 billion, which it had borrowed from the Retirement Fund Incorporated (KWAP), had gone missing.

Najib told the Kuala Lumpur High Court that the claim has yet to be established and that he, too, wants to know the truth of what had happened.

He said this during cross-examination by Attorney-General Tommy Thomas who is the lead prosecutor in Najib's SRC International ongoing graft case.

Thomas: This RM4 billion in two loans from KWAP given to SRC has totally disappeared.

Najib: I disagree as we have yet to establish the funds in Switzerland.

Thomas: So you still claim there are funds in Switzerland?

Najib: We must establish.

Thomas: I still haven't established.

Najib: You have to.

Thomas: I put it to you that the assets have disappeared.

Najib: I disagree.

Thomas: I put it to you that the RM4 billion has totally been misspent.

Najib: I disagree, I want to know the truth.

The Pekan MP also denied he tried to cover up the disappearance of the money by preventing his then second finance minister Ahmad Husni Hanadzlah from travelling to Switzerland in 2015 to establish the status of the money.

Thomas: You did not want Husni to go to Switzerland as you were concerned Husni would discover the money was stolen?

Najib: Not true.

Thomas: I put it to you that you did not want your cover-up to be blown by a minister in your cabinet if he got to Switzerland.

Najib: No.

The ex-PM reiterated that there was no need for Husni to travel to Switzerland as a 1MDB delegation had already gone there and were satisfied with their findings.

Najib is on trial for seven charges of money laundering, criminal breach of trust and abuse of power involving RM42 million in funds from SRC International.

The case is being presided over by judge Mohd Nazlan Mohd Ghazali.

During the trial in August, Husni had accused Najib of trying to block him from recovering SRC International's funds in Switzerland.

Husni was appointed second finance minister in 2009 but resigned in June 2016.

Najib had sought to transfer Husni to another ministry in a cabinet reshuffle, prompting Husni to decline cabinet reappointment.

The Swiss Attorney-General's Office (OAG), in October 2016, confirmed that it was investigating transactions involving SRC International.

"On analysing the evidence obtained, the OAG identified suspicious transactions involving the Swiss financial sector. Firstly, the sum of US$800 million (RM3.3 billion) appears to have been misappropriated from investments in natural resources made by the SRC fund," the Swiss OAG reported.

"Secondly, it is suspected that a ‘Ponzi’ scheme fraud was committed to conceal the misappropriations from both the SRC fund and from 1MDB," it added.  - Mkini